Jargon free mortgage advice
There are thousands of mortgage products available for all sorts of circumstances but finding the right one is not an easy task. We can help you find the right mortgage for you.
The choice in the mortgages market can be confusing with so many products to choose from. Your mortgage adviser will take the confusion out of mortgages and present the options clearly and simply, allowing you to make sense of the products available. Your mortgage adviser will access professional mortgage sourcing software which is updated daily to bring you the latest deals from the whole of market, so if you are a first time buyer, homemover, remortgaging, sorting out your buy to let investments or need any other mortgage related help and advice then please don’t hesitate to contact us.
First Time Buyers
Set out below are the main costs you may incur when purchasing a property. This is by no means every cost but it covers the main ones to budget for.
Government tax payable when you complete your purchase. The amount payable is based on the purchase price. For the latest rates please see the HMRC website.
This amount will vary from case to case but for a single purchase typical legal fees including disbursements may be around £700 – £1000.
If you are arranging a mortgage to purchase your new property the leader will instruct a surveyor to carry out a valuation to confirm the property will be acceptable as suitable security. This can typically cost between £250 – £350 but this figure may be higher on some mortgage products.
If you are an existing homeowner, there are many reasons why you may want to remortgage.
This may be anything from trying to seek a lower monthly payment by obtaining a lower mortgage rate than the one you are paying now or simply to borrow more money, for instance, to fund home improvements.
Your mortgage adviser will do their utmost to find a mortgage package that best suits your needs and requirements (i.e. your time constraints, budget, attitude risk, lifestyle etc.) They will treat your mortgage application with a proactive approach whilst delivering a personal and efficient service.
They will also look at the best product your current lender can offer before searching for a more competitive deal from another lender.
This way they can assess if it will be financially beneficial to switch to another lender or stay with your current lender. Your mortgage adviser will take into account any fees which would be payable if you do switch, these may include broker, lender arrangement, valuation and legal fees. It may be worth noting that many lenders offer free valuation and legal fees on remortgages.
After your mortgage adviser has carried out a review of the market, you will be advised of the options available to you and recommend options which best meets your needs.
Buy to Let
Buying a property “to let” can be a potential minefield in today’s current climate.
When buying a second property “to let” you will need to decide whether your primary objective is income or capital growth.
You should be mindful that there are a number of tax issues with regards to owning properties “to let” in order to maximise your tax position. You can visit the ARLA website at www.arla.co.uk for further information on becoming a private landlord.
A mortgage adviser will be able to provide a comprehensive mortgage sourcing service arranging buy to let mortgages for investors with a single property right through to the professional landlord with an extensive portfolio.
The market has changed over the last 12 months with lending criteria tightening. This has placed some investors in an awkward position when remortgaging but a mortgage adviser can help in restructuring buy to let financing, allowing you to move forward and bring your investment under control.
Moving home can be a stressful time, there are so many things to think about and making sure everything happens when it’s supposed to. A qualified mortgage adviser will take the stress out of the whole process by providing you the help and advice to find the most suitable mortgaging option which best meets your needs.
It’s not just about arranging a new mortgage, they need to look at your current mortgage and assess whether it is in your best interests to redeem it or possibly transfer it to the new property.
Your mortgage adviser will also look to see if you will have any penalties to pay if you don’t keep your existing mortgage and transfer it. These penalty charges can make switching lender an unsuitable option.
Equity Release Explained
You may have heard this term for several things such as remortgaging your house or selling and renting back your house, but for these purposes equity release is the phrase used to describe the regulated plans called Lifetime Mortgages and Home Reversion plans.
Both are regulated by the Financial Conduct Authority and are available to help people release the equity they have tied up in their homes without them having to move.
Regulated equity release has increased in popularity over the years and the flexibility and safeguards which are built into equity release plans have enabled thousands of home owners to tap safely into their biggest asset, their home, without having to worry about making monthly repayments.
If you are thinking of taking out an equity release plan then you need to find out as much as you can about your options and weigh up the advantages and disadvantages fully before you decide if equity release is right for you.
An equity release plan will reduce the value of your estate, will not be suitable for everyone and may affect your entitlement to state benefit.
We provide access to many different commercial finance facilities for businesses and individuals, across a wide range of market sectors, budgets and commercial properties including farms, pubs restaurants, shops with/without living space, hotels, guest houses and holiday lets.
For borrowers looking to raise between £50K and £25M, our process is geared towards being simple, quick and flexible in meeting your business needs enabling you to purchase new premises.
To ensure that you obtain the right product from the outset, we will take the time to assess and understand your requirements before tailoring an application that suits your needs.
Once we have established and drawn up your business and financial proposal, you can enjoy a trusted and close working relationship with us throughout the whole process up to completion.
If you have any questions, please do not hesitate to contact us for further information.
Commercial mortgages are not regulated by the Financial Conduct Authority
Your home may be repossessed if you do not keep up repayments on your mortgage
Mortgage Service by Helm Godfrey
T 020 7614 1000