The UK Mortgage Store News

June 2010 Newsletter – Business Loans – What you need to Know

If you intend to secure finance for your business through a commercial loan or already have one in place there are a number of important factors to consider.

For example did you know that a commercial lender will often make a business loan subject to repayment on the death of a certain (often key) individual? Alternatively, if finance has come from a director’s loan account, if the director were to die then their estate may demand repayment of the outstanding loan.

While it is unpleasant to consider a worst case scenario, with this in mind have you considered how your business would meet any ongoing loan repayment if one of your key personnel dies? How would you finance full repayment should the lender call-in the loan early?

This is where business loan protection can help. With a policy in place you can help protect the future financial resources of your business if one of your key personnel was to fall critically ill or in the event of their death. In these circumstances, should you have business loan protection in place, a cash sum would be paid out which could be used to help replay the loan amount.

Protecting against the unexpected is a necessary precaution and one which we believe is essential to consider should you have a commercial loan in place. If you would like to discuss the options available with a qualified adviser Speak to us Today to find out more.

We look forward to hearing from you.

For further details or to arrange an interview please use our ‘Contact’ Page.

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May 2010 Newsletter – Considering Purchasing a Property, Moving or Remortgaging?

If the answer to that question is yes, then now could be the perfect time!

According to analysis from Moneynet.co.uk. first-time buyers who can save a deposit are in a better financial situation now than if they had bought in autumn 2007. This is largely down to the change in stamp duty thresholds, (as a first-time-buyer you are currently exempt from stamp duty on any property purchases up to £250,000) and comparatively reduced mortgage rates. Here at The Mortgage Store we have a number of mortgage products available at up to 85% loan to value, and some deals up to 90%. This means that you may only need a relatively small deposit to obtain your mortgage. A survey carried out buy Nationwide shows that house prices have risen in April for the second month running, which could again indicate that now is a good time to get on the property ladder!

Now could not just be the time for first-time-buyers to consider their mortgage options, but also for those who already have a mortgage. Do you currently have a tracker or standard variable rate mortgage? If so you may feel that now is the time to fix your mortgage in order to guarantee your monthly payments for a set period of time. Lenders have pushed down fixed rates from their peak last August with the average 2-year fixed rate deal now at its lowest level for over a year. We are also now seeing lenders relax their criteria, and take a common sense approach to lending. This means the ‘computer says no’ mentality has been removed in some instances. If you have previously had difficulties remortgaging then these changes may provide you with an opportunity.

And if you own buy-to-let properties or are considering becoming a buy to let landlord we could help! We now offer buy-to-let mortgages up to 80% loan to value, and have access to lenders that could consider first time landlords.

There are many things to consider when purchasing a property or remortgaging. Thankfully we are able to provide you with a full advice service from start to finish. This includes assessing your monthly income and expenditure, and selecting the most appropriate lender/mortgage from our range which is best suited to you. This takes into consideration the amount you wish to borrow, the deposit you have, your credit rating, and the property you wish to purchase or remortgage to name a few. Don’t forget that all mortgages should be adequately covered against sickness or premature death. We can assist you with all these areas, to ensure that your mortgage and lifestyle would be fully protected in this event.

Speak to us today to find out more.

For further details or to arrange an interview please use our ‘Contact’ Page.

For a PDF version of this newsletter please click the PDF icon: