Mortgage Affordability without the stress

Interestingly we have a lender who offers great flexibility in terms of stretching lending, there is a bit of a however, you must take a long term fixed rate with them, for example somebody with clean credit will get a fixed rate of 5.29% fixed until April 2021. People with slightly chequered credit in other words CCJ’s or missed payment, in the previous 2 years may be offered a rate of something like 5.89% fixed until 2021. These rates are high without doubt, and the lenders argument being if you can afford the repayments now you will be able to afford them in 2021. Well my argument might be why pay more than you need to now, and people’s circumstances change anyway. So thanks Mr Lender but I think I might be able to get a better deal somewhere else ~ we wait and see.

Contractor mortgages

Basically if you are self-employed the request for proof of previous years earnings has been reduced, to sometimes as little as just the last year, company directors and people working on contracts should now find it easier to apply and be accepted for house purchase finance.

Find a property and then get in touch to see if we can help

Credit Repair

This is a term that I have not heard in a long time, the idea being that you can repair your credit profile by taking more credit and repaying existing bad credit, this can obviously lead to a debt spiral but it could also be a way of raising fresh money for new projects and or reducing the interest rates on current debt. Obviously it depends on the underwriters of any new loan or mortgage.

Buying a house

Can you afford a new home?

1 a) Is your income sufficient to cover the repayments on a mortgage or do you have the cash to buy?

1 b) Is your credit history satisfactory?

2 What is the property like is it in a good state of repair, could you see your-self living in it?

3 When you come to sell it will other people like your property?

4 Once you can start to answer some of these questions you are on the process of moving to a new home.

Why bridge

Bridging finance is basically builder finance, or at least that is one way to describe it, fast and flexible, the aim is to get funds in place to allow projects to go ahead, often with limited underwriting i.e not too many questions asked. It’s a good product but needs to be used in the right way.

The lenders will want to see plans, and permission before advancing funds


Lending is back

Buy to Let 

Product offer 3.79% remortgage of an existing property with free valuation and free legals.

So lending is back where as some lenders did literally close up in 2008, shut doors closed, except for existing clients, no new business. Then here we are 2014 and it’s like it never happened, you can borrow with limited accounts and less checking of your status, although some brokers might like to disagree.

For more information please e-mail me your contact details and a brief out line of what and why you are looking to do :

Save our elderly

This may be true, 10 years ago a £100,000 pension pot would buy you annual income via an annuity of £16,000 a year. Today with current annuity rates the same £100,000 may purchase you an annuity of £6,000 a year or less, that is a vast difference and the reasons stated by the insurance company actuaries is long life expectancy and lower interest rates, that is fine but what can be done to help the people who are in this situation?

Changes are happening to SERPS.

SERPS or the state earnings related pension, is having a few rule changes from the 5th Of April this year. Previously when buying your annuity you had to allow for a 50% spouses pension, this will now no longer be the case. You will at retirement now have the option of how you wish to set your annuity up. This means that people who have already independently catered financialy, or who may be have a want for a bigger annuity for themselves can now use their SERPS fund to purcahse a 100% of the annuity rather than having to leave additional benefits to their spouse or partner. This in turn would lead to a higher monthly income, not forgetting that on your demise the pension would stop.