February, 2014

Trading year end points for the major UK developers

Trading year end points for the major UK developers

These dates are well worth knowing if you are in negotiation with a builder or developer.

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Buying a new build – our tips

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Mortgage Market Review and Independent Mortgage Advice

Mortgage Market Review and Independent Mortgage Advice

The use of the word independent in connection with mortgage advice is very much a grey area since the advent of regulation nearly 10 years ago.
In the current mortgage market borrowers are too often unclear as to what they are being offered in terms of choice.

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Mortgage Market Review and interest only mortgages

Mortgage Market Review and interest only mortgages

MMR makes Interest Only Mortgage Lenders nervous From the first discussions of the Mortgage Market Review, interest only mortgages were heavily featured. In fact interest only mortgages were the first area of the market that we saw becoming affected by the upcoming legislation. Over the past two years interest only mortgage options have steadily reduced […]

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Mortgage Market Review and Direct deals

Mortgage Market Review and Direct deals

Does the Mortgage Market Review leave Direct Deals Available? Direct deals are mortgage products offered through the lender’s own branches, online, or over the telephone, rather than through intermediaries (Mortgage Brokers). These sales have not previously had to be ‘advised’ but will come under mortgage advice legislation in April. Whereas mortgage lenders have in the […]

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Mortgage Market Review and mortgage product fees

Mortgage Market Review and mortgage product fees

Mortgage products fees under MMR We are all familiar with lenders charging an application or product fee on a mortgage. Typical fees are £999, but can often be £1499, or £1999 for larger cases. Most lenders will allow the client to add the fee to the loan rather than find it cash. In fact, currently […]

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Mortgage Market Review and income and affordability

Mortgage Market Review and income and affordability

How the Mortgage Market Review affects affordability An area where the upcoming Mortgage Market Review has already had an impact is in affordability and budget planning. The Mortgage Market Review makes the lender responsible for confirming that a regulated mortgage contract is affordable to the borrower. This of course means that full evidence of income […]

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88 days until the Mortgage Market Review

88 days until the Mortgage Market Review

88 days to go to MMR We are now 88 days from the changes to the Financial Services and Markets Act (2000) coming into force as the result of the Mortgage Market Review – 12 weeks from the biggest legislative changes in the mortgage market since 2004. But what does this mean for the borrower? […]

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Bad credit mortgages and Guarantors

Bad credit mortgages and Guarantors

Bad credit? Can a Guarantor help? Often, when speaking to bad credit mortgage applicants we are told that they have a Guarantor available to assist their application. A Guarantor is an individual who is prepared to put themselves forward to assist a mortgage application by agreeing to become responsible for the debt if the borrower […]

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How to download your Experian credit report

How to download your Experian credit report

Download your credit report online When we ask clients to provide their credit report to us we would usually suggest Experian.co.uk as a suitable provider. We do require the complete credit report, details of the summary or the Experian credit score figure are of no value to us. We provide a secure upload link to […]

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