We have had an increase recently in enquiries regarding military mortgages. If you work for the armed forces, the good news is that lenders are finally beginning to understand your situation when it comes to property.

Because of the amount of time spent on service overseas, lenders can be dismissive of the needs of the military. One Army member expressed the problem this way:

I recently wanted to remortgage my family home but was frustrated to find that, because I am presently letting it due to service overseas, that most mortgage lenders would only offer buy-to-let products, which incur far inferior terms (rate and LTV).

I argued that it was my main family home and as only my military service compelled me to let it for a short period, I should qualify for residential terms.

Lenders are beginning to get it, however. We have found a number of lenders that allow armed forces personnel who are posted overseas on operational duties to rent out their property, or remortgage it, without change or having to switch to a buy-to-let mortgage.

It is also apparent that these very same lenders also accept deposits via the Long Service Advance of Pay scheme – a long-established MoD scheme under which the government provides a loan for the deposit on a property.

If you are in a similar situation and would like to know which lenders can help you, give Limetree a call.

This month sees the Chinese new year arrive: the year of the dragon. What can we expect? What will the year bring?

Is it all about the London Olympics and Wimbledon in the summer for the feel-good factor?

Or about continued low interest rates? Will the Eurozone stabilise? Will there be a double dip global recession?

Who really knows? At Limetree, whatever the market brings to us in 2012, we are ready, willing and able to achieve the high standards of advice and service we offered last year!

If you are a first-time buyer or mover, or are looking to remortgage, we aim to help as much as we can. Why not start the year by giving us a call?

Should you, or shouldn’t you?

Is it too soon? Will you miss the boat?

Fair to say that picking the right moment to remortgage is far from an exact science but if you look closely there are some telltale signs.

At the moment there is absolutely no doubt that interest rates are only going to go one way – and that is up. Most experts are predicting a Bank of England base rate at the end of the year of 1% (currently 0.5%). Indeed, some lenders are already raising their own mortgage and product rates in anticipation.

So if you are worried about your current arrangement or want a fixed rate for more security, then now could well be the moment to break the stand-off with your lender and shoot from the hip for a new deal.

If you need expert advice on where to aim then we are happy to help.

The cost of life assurance depends on two factors:

1. How much cover do you want?
2. How long you want it for?

Then you age, sex, occupation, health and smoking habits are taken into consideration.  The other issue affecting life insurance premiums is your medical history and current state of health.

Mortgages

How much mortgage cover do I need & for how long?

You need to cover the amount of the outstanding debt, up until the debt is paid off.

What type of cover do I need?

 Is your mortgage a repayment one? If so, you need a Decreasing Term Assurance policy.

Or is it an interest-Only mortgage, in this case you need a Level Term Assurance policy.

Government research has highlighted that nearly a quarter (24%) of all house buyers have a worrying lack of knowledge when it comes to the costs associated with buying a home. Many only focus on the deposit & mortgage payment itself failing to factor-in such things as legal costs, mortgage fee, moving costs, estate agent fees and even stamp duty. Many of these people are in for a nasty shock!

Here at Tucker Gardner Financial Ltd, we recognise that buying a home is a huge financial commitment and can be very stressful. That is why we provide a comprehensive advice service from your first appointment to discuss the right mortgage for you, right through to the completion of your property purchase. Each step of the way is explained and discussed  in plain English, with all costs highlighted in order to make the whole process as seamless and painless as possible.

So if you are planning to buy a new home speak to us early in the process and we will ensure that you can budget correctly with no nasty hidden surprises.