10 Year Fixed rate choices The Bank of England Governor, Mr Carney told the BBC in April: “Prepare for a few interest rate rises over the next few years.” In wake of the news some Mortgage Lenders reacted by increasing their mortgage rates on long term fixes. As a consequence we have witness an unusually number of calls from clients requesting 10 year fixed rates, which has prompted me to … [Read more...]
Mortgage and product news, best buys and tips
Ex Pat mortgage options – remortgage a UK property when you are abroad
Ex Pat mortgage - buy to let or second home solutions The Ex Pat mortgage products often evoke a plethora of questions so I have picked on some of the more regular ones and provided a frequently asked questions summary before which will hopefully aid you if are looking to remortgage in the UK. Q: What is a definition of an Ex Pat mortgage? A: The standard lending position is a … [Read more...]
GDPR Newsletter Update
You will have received finance Newsletters from me down the years which I hope you have found helpful. A mortgage is likely to be the greatest outgoing in your life, and digesting regular guidance could truly save money, and help you and your family plan better for the future. Unlike fellow Market Commentators I also transact business on a daily basis at the sharp end. As should have … [Read more...]
How much mortgage deposit do I need to buy a property
A mortgage deposit is the amount you are contributing towards the purchase of the house. It is does not factor in moving, legal or tax costs; it is solely the difference between the purchase price and the mortgage amount. For example, if you were buying at £100,000 and taking a £90,000 mortgage – the deposit would be £10,000. Frequently asked questions on Deposits Q. What is the minimum … [Read more...]
Joint Borrower Sole Proprietor Mortgage
Happy to go on your children's mortgage but do not want to trigger higher stamp duty You’ve probably heard the countless radio ads saying you can guarantee a personal loan but what about guarantor mortgages? In the 80s and 90s guarantor mortgages were all the rage but the credit crunch all but killed off the remaining lender participants until now. Read on to find out how you can help your child … [Read more...]
Pay day loans have stopped me get a mortgage
I need to borrow money on my property but I have a track record of Pay Day loans For a large section of society Pay Day loans are the norm however many mortgage providers shy away from lending particularly if a Pay Day loan or equivalent has been taken in the last 12 months - even if payments have been maintained in full. So why the reluctance? Well rather than trouble themselves to determine … [Read more...]
Tracker Mortgage vs Fixed Mortgage
Whats the difference between Tracker Mortgage Products and Fixed Rate Mortgages? We often get asked the differences between a fixed and tracker mortgage so we'd thought the summary below would be useful. Of course, every clients needs are different so we would need to talk through the appropriateness which product to take on an individual basis. Tracker Mortgage The rate is normally … [Read more...]
How to mortgage a property left to you in a will
What happens to a mortgage after the death of a family member? Existing lender wanting their money back on a property and don’t want to sell we can help. Mortgage Lenders can show their ruthless side in the event of death and an inherited property but what can you do if you need to mortgage a property left to you. Factually they can call the repayment in if the deceased was the only applicant. … [Read more...]
Should I take the free legal scheme offered by my mortgage provider?
Are free legal products a gimmick? Most of the leading lender's and building society’s offer a free legal basic service on remortgages – but why? The mechanics Firstly, the Conveyancers will not be undertaking their work for love so you ahve to take this in mind when it comes to free legal products. The cost will be factored into the Mortgage Lenders product pricing model. For example, the … [Read more...]
Bankruptcy Mortgage Criteria 2018
A look at Mortgages for discharge bankrupts in 2018 Recently bankrupt – mortgage options are shortening Mortgage Lenders will have their own rules and policies on discharged bankrupts and so I thought I would take a quick look at the Bankruptcy Mortgage Criteria for 2018 clients. Since the credit crunch more and more Mortgage Lenders have relaxed their approach with a good number taking a … [Read more...]