How to download your Bank Statements Online

How to download your Bank Statements Online

Why do Mortgage Lenders ask to see Bank Statements? Primarily to: Ensure no payments have been returned Ensure any overdraft limit is not exceed See income being banked as per wage slips See existing rent or mortgage payments going out Spot regular payments that have not been listed on the application The importance of your […]

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Mortgage for Airbnb

Mortgage for Airbnb

Mortgages for Airbnb properties and other short term letting arrangements are now available We have exclusive access to a ‘temporary letter’ Airbnb mortgage for our clients. This new product means that an assured shorthold tenancy is not required to obtain lending on your property. Excellent news for those owners or buyers who will let short […]

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How does the affordability calculation work for a buy to let mortgage today?

How does the affordability calculation work for a buy to let mortgage today?

Golden rule – assume £155,850 of lending per £1,000 pcm of rent. A few years ago it was very easy to explain affordability to the buy to let investor. Lenders would typically lend directly against the rental income by seeing how that rental income compared with the potential mortgage payment. If the rental income exceeded […]

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Mortgages for over 50’s

Mortgages for over 50’s

In recent years we are presented with more and more over 50’s mortgage borrowers looking for assistance. Borrowers born in the 1950s, the 1960s, and now even the early 1970s, are increasingly concerned about their mortgage options and the limited mortgage terms being offered to them. Why can mortgages for over 50’s be a problem? […]

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Debt management plan mortgages from 4.69%

Debt management plan mortgages from 4.69%

Can I get a mortgage if I have a debt management plan? We have mortgage lenders who will consider applicants who have settled a debt management plan (DMP), and applicants who still have current debt management plans (DMP) in payment, and not yet cleared, or settled. Mortgage deals are available with highly competitive rates from […]

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Worried about the security of your gifted deposit?

Worried about the security of your gifted deposit?

It is becoming increasingly common to gift a child or close family member funds towards their deposit on a property purchase. But what happens where there is another party involved, the spouse or partner of your child? In the event of a later split, do you really want to see your child’s ex-partner going off […]

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Why wont HMRC provide SA302s?

Why wont HMRC provide SA302s?

HMRC are now running a policy to avoid having to provide SA302’s to mortgage applicants. HMRC have a list of mortgage lenders who they understand will work from either an SA302 Tax Calculations that Tax Payers or their Accountants/Agents produce on specialist software –  HMRC staff will therefore say they will not issue SA302’s. N.B. The list on […]

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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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