As we gear up for the 2024 general election, you may be wondering how the political landscape might impact your mortgage options. The period leading up to an election often brings economic uncertainty, and understanding its potential effects on the mortgage market can help you make informed decisions.
As a landlord in the current climate, the prospect of renewing your mortgage may be met with a mix of anticipation and trepidation.
With mortgage rates fluctuating and economic conditions evolving, the worry of increased cost looms large for many. If your buy to let mortgage is due to be renewed soon, it’s crucial to carefully consider your options and to plan ahead to ease potential financial strains.
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2021 has seen some welcome good news in the first-time buyer market, with mortgage affordability for people buying their first home improving by 20% since the turn of the year according to Mortgage Broker Tools’ latest index. We take a look at some of the newer options available to first-time buyers that can help to get you on the property ladder.
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One of the main things that is mentioned when talking about mortgages and the impact the current Coronavirus pandemic is having on customers is the option of a mortgage payment holiday. But is this the right thing for you to consider?
Read moreThere are many choices to make when looking for a mortgage.
There are literally thousands of different types of mortgages on the market and choosing the right one can be daunting. But before deciding which mortgage to go for, you need to decide what type of mortgage to get – repayment, interest only, fixed, tracker or discounted.
Buying your first home is a massive step, and with the average age, purchase price and loan size all steadily rising for First Time Buyers over the last 10 years, here are some of the key things to focus on before taking that first step onto the property ladder.
Read moreWith the UK State pension being very low, one of the worst in the developed world at approximately 29% of average earned income*, many have and still do look to property investment and rental income as a supplement to this.
*source https://www.ftadviser.com/pensions/2018/02/13/uk-state-pension-worst-in-the-developed-world/
Read moreEven seasoned home owners can find buying a property a complicated and confusing experience, particularly as it’s something most of us only do occasionally during our lifetime. So why should you speak to an Independent Mortgage Adviser before anyone else?
For first time buyers, the process can be even more baffling, so they need a professional, independent mortgage adviser, on their side.
Although it was a few years ago now, I still remember the initial excitement of buying my first home. I also remember the stress, worry and anxiety that went with it, which is why I absolutely believe it makes sense to talk with an independent mortgage adviser before even thinking about looking at houses! This applies to anyone, whether you’re a first timer, home mover, or buying a property for investment. It’s important to understand what’s currently happening in the mortgage arena.
For me, and my fellow advisers at Temple Mortgage, it’s more about forging a two-way relationship (which doesn’t end once the mortgage starts but continues for many years as your life and circumstances change). We will work together on your current situation, finding out where you want to get to and help you to devise a plan and a timescale to get there.
Most advisers go that extra mile and offer practical advice too – I for one wished I had someone like this back in 1992, as I had so many questions. It’s one of the reasons my Financial Services career moved in this direction! Additionally, having access to the whole of the marketplace puts you as the buyer in a better, more informed position all round.
Lots of things can impact on borrow-ability including salaries, employment status, how long you’ve been employed/self-employed, credit commitments, credit status, and age, among other things. We can help you work out who to go to which can be a time-consuming process. An independent mortgage adviser will recommend a lender from the whole of the market to achieve the best mortgage based on your specific circumstances.
Apart from advising and arranging on the mortgage itself, our services tend to go a lot deeper than just a transaction as the needs and understanding of mortgages can vary from client to client. An experienced mortgage adviser will pitch the advice at the right level, ideally before a property has been found.
A mortgage adviser can help in many ways, but some in particular include advice on:
In a nutshell, using an independent mortgage adviser can make life that little bit easier. Having a professional overseeing the process with the lender, estate agent and solicitor, will leave you to concentrate on the more enjoyable side, such as looking at furniture or planning your new kitchen!
To find out how we can help you, whether you are a seasoned home owner, or you are looking at saving for and buying your first house, contact Diane Blackman by email diane.blackman@templemortgage.co.uk, call Temple Mortgage on 01305 213150 / 07977 467117, or send us a message on our Contact Us or Diane’s Facebook page.
Your home may be repossessed if you do not keep up repayments on your mortgage.