2016

Interest only mortgages and downsizing

Interest only mortgages and downsizing

Do you need interest only mortgage lending? Is your property your only major asset? Looking to downsize the family home at a later date? Need to save £900 a month on your cash flow?* *Example £200,000 lending over 15 years monthly mortgage payment capital repayment v interest only Interest only Lenders (sale of mortgage property […]

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Mortgages and Complex Deposits

Mortgages and Complex Deposits

Deposits on mortgage applications are not always straightforward transactions with cash from the buyer’s savings. Below are some examples of unusual mortgage deposit situations that can be accommodated. Yes, you can borrow your deposit. example Dad lends his son Tom £40,000 towards his home purchase. Tom has agreed to pay Dad back over 5 years […]

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The new buy to let mortgage market

The new buy to let mortgage market

Why your capacity to borrow as a landlord is shrinking Exploring how a buy to let investor buying a property valued at £250,000 with £1,000 of rental income will find themselves needing to find another £44,000 in cash to make the purchase. Key Actions for Landlords If you need extra buy to let lending get […]

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Self-employed? How much do you earn for mortgage purposes?

Self-employed? How much do you earn for mortgage purposes?

We often find that our self-employed applicants are unsure what to consider as their ‘income’ for mortgage purposes when making a mortgage application. This is not a simple question. What a self-employed applicant can consider as income will depend on the mortgage lender there using and most importantly their trading style. Other factors include ownership […]

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Buy to Let Mortgages for maximum lending and minimum cost?

Buy to Let Mortgages for maximum lending and minimum cost?

Which type of buy to let mortgage lender is suitable for your needs? Did you know? Some buy to let mortgage lenders will lend you nearly twice what others will Some buy to let mortgage products will cost you double what others will Buy to let investors, like all business people, have differing needs for […]

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Bank of England drops base rate to 0.25%

Bank of England drops base rate to 0.25%

The Monetary Policy Committee today dropped Bank of England Base Rate to 0.25% What the market has done (5th August 2016) The following Lenders have said they are cutting their: Tracker Rates Mortgage Changes Barclays – now for new customers, 1st September 2016 for existing customers Coventry BS from 1st September 2016 Halifax from 1st September […]

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Save on your mortgage get off standard variable rate

Save on your mortgage get off standard variable rate

Save money on your mortgage now Mortgage borrowers on standard variable rate could be overpaying by nearly £300 a month. Our analysis shows that borrowers still on lender’s standard variable rates will be paying up to £290 per month more in interest than necessary (based on a £100,000 mortgage). How much are you wasting every […]

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10 year fixed rate mortgage at just 2.39%

10 year fixed rate mortgage at just 2.39%

Are you worried about the impact of the Brexit vote on the UK economy? Concerned about the potential for rising mortgage costs? Prefer the stability of knowing exactly how much each mortgage payment will be every month? In your ‘forever home’ and working on paying the mortgage off in full Then you may be attracted […]

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Virgin Money Mortgage Brokers

Virgin Money Mortgage Brokers

We are Virgin Money mortgage brokers and we can help you with Virgin Money mortgage applications or indeed applications to mortgage lenders across the whole of the UK market. Why are Virgin Money promoting mortgage brokers? Virgin Money have realised that the new rules around mortgage regulation make it beneficial for most borrowers to source […]

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Brexit and mortgages

Brexit and mortgages

Following yesterday’s vote by the British electorate to leave the EU, many mortgage holders will be asking how this may affect them. We are all aware of how uncertainty and volatility can affect the market, as witnessed in 2008. Many more cautious mortgage borrowers will already be on fixed-rate products, and they will know that […]

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