Christmas is coming! Get your mortgage now!

Yep, we’ve said it. Christmas will be here before you know it and just as now is the time to start planning your presents, it’s also the time to get cracking if you really want to be eating turkey in your new abode.

December 25th represents a significant deadline for some people. Spending the festive season in a new home is a driving factor for many people who are moving at this time of year, and we typically see the numbers of properties being sold rising at this time of year.

So, if you’re dreaming of putting up your tree in your next home, is there anything you do to get moving now? If you’re prepared to fully focus on paperwork, be sensible about your pricing and get super organised your dream could become a reality, though it will depend on the market demand in your area.

Here’s some tips on speeding up your buying process, so you can toast the festive season in your brand new home.

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Posted in Mortgages

The Nation’s Self-Employed are at Risk of Financial Crisis

It was recently discovered that approximately two million of the UK’s self-employed can’t afford to save a penny each month.

Only 4% have income protection insurance to cover their outgoings if they find themselves unable to work for any reason, which would leave them struggling to cope financially.

With so much at stake and the price of income protection insurance being relatively low, why are so many of our self-employed unprotected?

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Posted in Uncategorized

Getting a Mortgage too Daunting for You? Read on!

Getting a mortgage is one of the biggest and scariest commitments you’ll ever make in your life. Once you’ve taken the plunge, it’s true you could be liable for an awful lot of money, but the benefits of having a mortgage can far outweigh the risks.

It can be tempting to stick to renting, there are definitely advantages involved. Relying on a landlord when things go wrong is a safety net for many, but it’s not always as easy as that. When you own your home, you’re the master of the ship. Nobody dictates what you can and can’t do with the place you call home. You don’t have to follow the rules set out in your tenancy. You can do things on your own terms.

You are entering into a big agreement with your mortgage provider, but looking around for the best rates often means you finish up paying for less for your monthly mortgage repayment than you would for your monthly rent. Financial freedom often comes from having a lower repayment and not being so restricted by your finances before payday.

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Posted in First Time Buyers, Mortgages

New Rules for Lenders on Buy-To-Let Landlords from the Bank of England

The Bank of England (BoE) is introducing new mortgage regulations for landlords. They will come into effect from the 30th September 2017.

It will mean that when applying for mortgages for new properties, most landlords with three or more mortgaged properties that they rent out, will need to give much more information regarding their existing properties, assets, income, liabilities and costs.

How will things change?

At the moment the majority of lenders focus mainly on the value and rental income of the property they are lending against when underwriting buy to let mortgages.

With the new underwriting requirements from the BoE, all lenders will need to collect and validate information regarding every property that the landlord has an interest in when considering their application. This will include collecting information on rental income, property values, mortgages and costs from each and every property the landlord owns.

The reason the BoE has asked lenders to change their approach is that they want lenders to have a full understanding of the financial circumstances of landlords with multiple properties and the impact that any new lending might have on their finances.

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Posted in News

What Will Divorce Mean for Your Mortgage?

Going through a divorce is a really tough time for everyone involved. And unfortunately it can be made even more difficult when dividing up your assets.

Deciding what happens to your family home will probably be one of the biggest financial decisions you will face.

If you know what solutions are available to you and the choices you might want to make it can make the whole process much less traumatic.

So we’ve laid out your options below . . .

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Posted in Uncategorized