Borrowing above the purchase price on a property is only allowed in certain instances and restricted to home improvements. Getting a Mortgage above the purchase price is most commonly seen in the case of Right to Buys. You will need first to check with the terms of your contract with the local authority you are buying from and also your professional legal representative. This lending … [Read more...]
Mortgage and product news, best buys and tips
Best Portfolio landlord Buy to let Mortgage Rates
Looking for a high street mortgage rate for buy to let properties as a portfolio landlord. On the face of it, this challenge sounds straight forward however the reality is many of the best priced mortgage products are available exclusively for landlords with a maximum of four mortgaged properties. However, I know of a major UK bank that allows these cutting edge products and bypasses their … [Read more...]
Interest only Buy to let Debt Consolidation
Should you Remortgage your Buy to Let to pay off some debts Debt consolidation has often gravitated towards mortgages. Attracted by the low interest rates, options to fix, overpay and borrow large amounts it's easy to see why. Since the late 90s buy to let debt consolidation mortgages came into their own as if things didn't work out the cost did not culminate with losing the roof over their … [Read more...]
Mortgage to stop your bankruptcy
Anul your bankruptcy and save your credit record and your home Before I raise false hope here you need to have sizeable equity in your property, probably changed your occupation to an employed position, have at least a month until the court hearing; and the gumption and energy to drive it through, with my support of course. Saving your home needs to be the motivation if it's not trying … [Read more...]
Mortgage Declined by Nationwide
Been declined for a mortgage due to credit conduct we can help? Nationwide are the country's largest building society and as a mutual company, they will always look to protect their members by running tight lending criteria. It's their right and they are hugely successful at what they do. With Nationwide declines, you normally have to wait three months before you can re-apply, and unless … [Read more...]
Missed Mortgage payments
Mortgage Arrears stopping you get a new mortgage? Mortgage Lenders do not like lending to applicants who have had a track record of missing mortgage payments. In fact, apart from not paying a tax bill, it is the single biggest detractor. Any status on your credit record apart from 'U', '0' or 'AR' must be 3 months old. One Mortgage Lender I use measures this time period by completion the … [Read more...]
First Time Buyer Mortgage
First Time Buyer Mortgage questions answered This decade has seen a number of initiatives to stimulate first time buyer activity. These include cheap funds to banks for higher loan-to-value lending; Help to Buy equity loans and ISA incentives, stamp duty breaks and heavier taxation to put off landlords to free up the stock. In addition, the banks have adapted their policies to allow outside … [Read more...]
Another lender moves to 5.5 times income in standard criteria
Great news as main bank offers 5.5 times income via mortgage brokers From 11th of October Barclays for Intermediaries will be offering a 5.5 times income multiple mortgages for the following selected clients: Mortgages must be taken on a “repayment” basisSingle applicants must earn at least £75,000 per annumJoint applicants must collectively earn £100,000 per annum between themMust have … [Read more...]
Self employed mortgage
Self-employed mortgage tips. All the bits other brokers may not know or tell you about. Mortgage Lenders treat self employed mortgage applicants differently to employed ones. A longer track record is almost certainly going to be required and an averaging of income across multiple years is common. As a professional Mortgage Broker, I hear all sorts but usually can find a suitable lender to … [Read more...]
Buy to let mortgage with payment breaks
As I know first hand tenants aren't always the most reliable so a buy to let mortgage with payment breaks can be very helpful. So why is it Buy to let mortgages with payment breaks are not easy to come by? As well as a Landlord; I'm a professional Mortgage Broker too and in this article, I'll explain why and how there are options open to you. Lets start with the Buy to Let Mortgage Lender's … [Read more...]
