Mortgages
First Time Buyer
Buying your Dream Home
Buying your Dream Home
Providing individual mortgage advice; unique to you
Buying your first home can be a very exciting albeit daunting experience which is why it is important to get the right advice at the very start. There are many different mortgage products to choose from so it is important to get the solution that best meets your needs. If you’re a first-time buyer who wants to learn more about available mortgages, contact our in Melton Mowbray, Leicestershire. To help you to make the right decision we have put together our Top Tips for first time buyers.
- How much can I borrow? It is important to be realistic when working out how much you can spend on your new home. A budget planner will help to ensure your mortgage is affordable.
- How much deposit will I need to put down? When choosing a mortgage, you can see which deals you might qualify for based on the size of the deposit you have by looking at what is known as the mortgage ‘loan to value’ (LTV). For example if you are looking to buy a property valued at £100,000 and have a £5,000 deposit you will be looking to borrow 95% of the property value. Typically the more deposit you have to put down the better the mortgage rates will be.
- Have you considered any extra costs? Even a newly built house will require some sort of furnishings, whereas older properties may require extensive work, such as re-flooring, tiling or renewing the wiring. These should be considered alongside the purchase price, and fees such as conveyancing and stamp duty.
- Know what to look for when viewing properties Always take an experienced home buyer with you when viewing properties as there may be important details you could be missing out on.
- Household Budgets If you have been used to living at home with your parents, remember to budget for expenses such as council tax, gas and electricity bills, boiler servicing, and other home repairs.
- Council Tax Charges Make sure you know what the likely council tax charge will be in your new property. The selling agent should be able to tell you what tax band the house you are interested in buying is in, and how the charges are levied by your local authority.
Remember a mortgage is a long term commitment and there are lots of different products available, so it is important you get the right solution for you. To find out more about mortgages for first time buyers call our expert in Melton Mowbray, Leicestershire on 07505 279603.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Buying your Dream Home
Buying your Dream Home
Buying your Dream Home
Providing individual mortgage advice; unique to you
When moving home finding the right mortgage and arranging it quickly is essential. Our expert advisers in Peterborough, Cambridgeshire, can help you get the best deal that’s right for you and also help you with the following:
- Discover how much you could afford to borrow and the fees you will pay
- Source the most suitable options from a comprehensive range of lenders across the market not just your current lender
- How much your monthly mortgage payments are likely to be
Don’t forget the importance of impartial advice!
You may be tempted to go back to your existing lender however it is important to remember they will only be able to tell you about their mortgage products. There could be a better option for you with another lender potentially saving you money.
Call your local Melton Mowbray mortgage advisers today on 07505 279603 for individual mortgage advice for buying a home.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Remortgage
Remortgage
Remortgage
Our qualified mortgage advisers in Melton Mowbray offer individual remortgaging advice; unique to you
Why Remortgage?
Your existing mortgage deal may be coming to an end and you’re about to move onto the lenders standard variable rate which could result in an increase in your monthly mortgage payments.
Remortgaging before your term ends could potentially save you money by switching to another deal or another lender. There are plenty of reasons why you might want to consider a remortgage, perhaps you want to cover the cost of home improvements or pay off more expensive debts.
Whatever your requirements for remortgaging, our mortgage advisers in Melton Mowbray are ready to help on 07505 279603
Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Buy to Let
Remortgage
Remortgage
Our qualified mortgage advisers in Melton Mowbray provide personalised buy-to-let mortgage advice; unique to you
Whether you’re becoming a landlord for the first time or you’re looking to expand an existing portfolio you will need to take out a buy to let mortgage rather than a standard residential mortgage. A buy to let mortgage is specifically for people who are buying a property to rent out to a tenant or tenants.
How do buy to let mortgages differ from residential mortgages?
- Interest rates are usually higher on buy to let mortgages compared to residential
- Whereas for residential mortgages your deposit could be as little as 5% of the property value you will have to pay at least 25% for a buy to let mortgage.
- Unlike a standard mortgage, where the amount you can borrow is linked to your income, with a buy to let mortgage, the lender will instead look at how much rent you could make from the property on which the mortgage is secured.
We can help you arrange a bespoke buy to let mortgage solution that’s tailored to you. Call our expert mortgage advisers on 07505 279603.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE