What you need to know before you opt for Debt Consolidation Methods of Debt Consolidation There are many things to be wary of when it comes to Debt Consolidation. I’m a Professional Mortgage Broker and I’ll run through Debt Consolidation in the context of my thought process. Full facts are needed on the item you are looking to consolidate to make an informed decision What is the … [Read more...]
Buy to Let Tax Advice is a Must
Surely Buy to Let Tax Advice has got to be the way? I’m a professional Buy to Let Mortgage Adviser who as a matter of course always suggest my landlords seek tax advice. The offset of interest relief against profit is all but gone if you own the asset in personal names with Tax Year 2019/20 the last tier at 25%. Come 2020/21 and there will be no relief at all. That’s why when I read some … [Read more...]
Bank of England’s Interest Rate Reduction
So how will this affect Mortgage rates Variable mortgage holders rejoiced as they woke up this morning to the news that Bank of England has reduced Bank Base Rate to 0.25% from 0.75%. It is estimated £1million households should feel the benefit in a lower monthly mortgage payment as early as next month. Resident mortgage expert Mr Payam Azadi has commented on the likelihood this … [Read more...]
What’s next after a Decision In Principle (DIP)?
What happen’s after we have secured formal Decision In Principle (DIP)? A Decision In Principle (DIP) is also referred to by some Mortgage lenders and estate agents as an Agreement in Principle (AIP). In this article, we are going to explain the next steps once we have communicated that you have been approved. Documentation Original documentation will be gathered, reviewed and certified. … [Read more...]
Right to Buy Mortgage – Frequently Asked Questions
https://youtu.be/kFAEREX4bbU Lets answer some of your Right to Buy Mortgage questions Follow my recent youtube video which can be seen by clicking here a whole host of questions where asked by prospective Righ to Buy Mortgage clients so I thought I do another video and blog post to try to answer some of the key points. The following Right to Buy Mortgage questions and answers have … [Read more...]
Mortgage Lenders Affordability Calculations
What is the basis of Mortgage Lenders affordability Calculations How National Statistics has become part of the mortgage assessment. Mortgages are loans against a property, and importantly failure to keep up with repayments can result in losing your home, therefore Mortgage Lenders have a duty to assess affordability carefully. Applicants should fully disclose their outgoings but they can … [Read more...]
How Limited company Buy to Let rental calculations are assessed
In this article, I discuss the workings of a rental calculation for a Limited Company mortgage. Lets review how we work out Limited company Buy to Let rental calculations by a formula with two components: rental coverage and interest rate. RENTAL COVERAGE In nearly all cases Limited Company residential buy to lets rental calculations default to the mortgage lender's lowest required … [Read more...]
Are Low Deposit Buy to Let Mortgages worth it?
Lets compare 85%, 80% and 75% Loan to Value Buy To Let Mortgages. https://youtu.be/S07gMFbGGAw I’m a professional Mortgage Broker and in many conversations start by the potential customer stating “I want to purchase a buy to let using a mortgage with the least amount of deposit”. If they have done any research beforehand they will know that the figure is 15 per cent. However, as I’m … [Read more...]
How children affect mortgage applications
Solutions on minimising the impact of children on your Mortgage affordability. "Once upon a time" is how the children stories go: getting a mortgage with or without children made no difference. Then the mortgage affordability assessment was based on the multiplication of your income. A blunt tool but it served its purpose at the time. It started out at 2.75 x the main earner's salary plus … [Read more...]
Mortgages for EU Nationals now Brexit has taken place.
The availability of mortgages for European Nationals after Brexit is an interesting subject. As we sit in February 2020 Brexit has been ratified. The next eleven months will shape the path ahead until this point there should not be any discrimination over the indigenous population in access to mortgages. The only exception to this rule is some lenders prohibit the qualification to Ex-Pat … [Read more...]
