The mortgage market has undergone massive change in the last few years – not necessarily apparent in the rates which are available, but very much so in the criteria lenders apply, making navigating the mortgage market a bit of a minefield for the uninitiated.
We’ve spent years getting to know each lenders criteria and building relationships with their key decision makers. Quite simply, we are experts in what we do.
Our consultation process is designed to enable us to provide you with tailored mortgage advice, specific to your circumstances and requirements now and throughout your life as a homeowner.
Whether you are buying for the first time, moving up the ladder or remortgaging to create space, save money or start a project, we can offer a solution sourced from the whole market.
Equity Release Mortgages
A way to release money from the value of your property to help fund your retirement
Like many people in or near retirement, you may find you’re well off on paper but less well off in practice. It’s not that you don’t have the money – it’s just that most of it is tied up in your home. This can be a dilemma if you need to access some of this money but don’t want to sell your home.
With a lifetime mortgage you can take a loan secured against your property, allowing you to use the money as you wish. This means that you are still able to live in that home and there is no need to repay the loan or interest during your lifetime.
Our advisers hold an additional qualification which allows them to advise specifically on this highly specialised area of mortgage advise. If you would like to chat through the various options that might be available, we’d be more than happy to arrange an informal discussion with you and your family.
A remortgage is not always the most appropriate way to capital raise on your property – perhaps you have had some credit issues in the past which mean achieving a High Street mortgage approval will be difficult, or your earning profile has changed since you took your mortgage out. Often just the generally tightening of lenders criteria in recent years can make it more difficult to get the loan you want – or you might have been fortunate enough to take out a low lifetime tracker mortgage deal which just doesn’t make sense to lose. In all these circumstances, a secured loan could be the answer.
Residential Secured Loans
A secured loan is quite simply a personal loan that uses the free equity in your property as security. You need to own your home and already have a mortgage in place therefore the secured loan is typically referred to as a ‘second charge’.
Popular reasons for needing a secured loan:
- Debt consolidation – reduce monthly credit commitments by up to 50%
- Capital spending – car, boat, home improvements, holiday
- Tax bill – stop HMRC pressure
- Protect a low mortgage rate – your mortgage lender may want to increase your current rate if you apply for a further advance
- Deposit for additional investment properties
- Credit repair
Buy To Let secured loans are exactly the same as residential secured loans – with the sole exception that they are secured on one or more investment properties; in other words, property that you own and let out to non-family members. Loans can be for any legal purpose, and criteria generally would be as follows:
- No minimum income requirement (Income is to be evidenced)
- Adverse credit can be considered- depending on circumstance
- Large Loans
- Lending to 90% LTV
- Refurbishment products
- Houses in Multiple Occupation
- Limited Companies and individual
- No maximum age limit