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Mortgage-in-Principle
Most lenders can agree a mortgage even before you find the right property through a mortgage-in-principle certificate.
You are not obliged to take up the offer with the lender and it doesn't guarantee that you get the loan, but it can bring credibility with the sellers and give you more confidence for bargaining. It will also speed up your eventual mortgage application, as most of the checks will have been already carried out.
A pre-arranged loan can also help you discover how much you can actually borrow, and alert you to any problems with your credit rating - these can be sorted before you find your property.
Arranging a UK mortgage
You will need bank statements and payslips for the past 3 months and your last P60, unless you are applying for a Self Certification Mortgage.
It generally takes about three weeks from the application to the formal offer being made by the mortgage lender. This can vary depending on personal circumstances.
As a general rule, mortgage repayments shouldn't exceed a third of your disposable income.
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Reduce your monthly outgoings
Our specialist remortgaging service makes a remortgage easy with a competitive choice of fixed and variable rate deals. Don't put it off any longer - do it today and you could soon be reducing your monthly outgoings.
Better Rate
Homeowners can save themselves thousands of pounds by remortgaging, and reduce their monthly payments within weeks.
Many homeowners do not realise the savings potential of remortgaging, especially in our present competitive market. Your original mortgage lender will not reward your loyalty with a reduction in rates. Financial advisors recommend shopping around for the best mortgage deal, as with home and car insurance.
Someone with a £100,000 loan who switches from a standard variable rate deal could save about £1,000 a year for each one-percentage point reduction in their interest rate.
Release Cash
Remortgaging is not only about saving money. A remortgage can easily release equity that has built-up in your property's value.
Changing to a better mortgage deal, as well as being an excellent way to make immediate monthly savings, will also enable you to get hold of some extra cash.
Borrowing through your mortgage can often be much cheaper than taking out a personal loan. You can choose to remortgage for the remainder of your mortgage, or more if you want to release some equity.
Remortgaging can be the best choice of loan to consolidate all your debts, replacing outstanding personal loans and credit card debts.
Instead of the expense of moving house, releasing equity from your property can enable you to make home improvements - such as a new kitchen or bathroom or an extension - increasing the value and improving your living space.
You can find a Remortgage or Mortgage product to suit your own individual requirements - just complete the fast track form below and we'll get someone to contact you as soon as possible to discuss your requirements. Our lenders can help in nearly all cases of:
- Rent arrears
- County Court Judgments
- Bank & other defaults
- Old repossession orders
- Credit problems
- Discharged Bankruptcy orders
- Unusual Properties
- No income proof
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Self Cert and Self Employed Mortgages |
No proof of income
If you are unable to show your earnings due to being self-employed, a seasonal wage earner, or anyone with irregular earnings such as a contract worker or commission-based employee, or in salaried employment with a supplementary source of income, an unsalaried company director, or varying other reasons - a Self Certification mortgage could be the best option for you.
A self-cert mortgage allows borrowers to certify their own earnings without having to supply documentation, such as wage slips.You can apply if you are employed or self employed.
Our lenders specialise in Self Cert mortgages, unlike the high street banks and building societies - who tend to favour the full-time employed who can prove their earnings via pay slips. If you are running your own business why should you be considered a greater risk than an employee?
Self employed
Starting your own business can be a prime time to apply for a mortgage. You may need extra space to run your business from home, or decide to finance your independent venture other than with a business loan from a bank.
Self Certification can also be the answer if the business you own or part-own has some bad debts, although you personally have a good credit history.
Professionals beginning their career on a low salary, but whose incomes rise rapidly can also benefit from Self Certification mortgages, allowing them to choose the property they know they can well afford.
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Bridging Loans |
Selling and buying houses does not always go smoothly, it just takes a break in the chain for the sale of your existing home to fall through. You quickly need a Bridging Loan to complete on your new property purchase, otherwise you could lose it if someone else makes an offer.
There are generally two categories of Bridging Loans:
Closed - this is when you have exchanged contracts on both the property you are buying and the property you are selling.
Open - this is when you have not exchanged contracts on the property you are selling.
This can be the most cost-effective way to fill the gap that can sometimes occur between buying and selling your property.
Purchasing a property at auction
Completion needs to be fast as you have to complete within 28 days, so you need a bridging lender who can act quickly and professionally.
Unlike many of the main banks our top Bridging Loan specialists recognise the need to deal rapidly with your request - which is vital where property purchase is involved. You can expect to receive your funds within the week, enabling you to continue with your property plans.
Fast-track
We specialise in providing fast online access to Bridging-Loan finance on residential or commercial properties in the UK.
Our lenders have no maximum limit for Bridging Loans, so a substantial amount is available if needed. Our lenders will usually allow Bridging Loans of up to 80% of the value of the property. The amount is borrowed for a period from a week to a year. The maximum term for a Bridging Loan is generally 12 months and no repayment is required until the loan term has expired or the loan is refinanced. There is, in certain circumstances, the flexible facility of extending the loan period if necessary for some clients. Short term Bridging loans are quick to arrange and are repayable either in a lumpsum payment of principal or monthly instalments.
We can fast-track you to your financial solution if you require bridging finance quickly in order to secure the property of your choice, and only need funds for a limited period of time. Our financial experts will help you through the application process to achieve your property needs in the most cost effective way.
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Buy to Let Mortgages |
Buy-to-Let mortgages are no longer expensive - the interest rate available on a buy-to-let mortgage is generally not significantly higher than those on standard mortgages. Landlords have a choice between interest only and repayment mortgages.The main criteria used to decide on buy to let is what your rental income is likely to be, how much capital you intend to invest in the property and for how long you intend to invest.
Fixed rate buy-to-let mortgages are popular because buy-to-let investors want to know exactly what their costs are versus rental income - allowing them to budget carefully and preventing the worry of fluctuations in interest rates.
Because buy-to-let properties are not homes but financial assets, selling can be much easier - especially if there are assured tenancies.
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