The UK Mortgage Store News

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:

January 2010 Newsletter – The Importance of Seeking Advice

There seems to be a renewed optimism in the housing market, and we are continuing to see the positive signs of recovery with recent reports indicating that January house prices rose by 1.2%. This is an increase of 8.6% in comparison to last year and with more mortgage deals now available at 85% and 90% LTV, we are seeing serious interest from home movers and first-time-buyers.

The financial world of 2010 has however undergone radical changes in recent years and in essence the market is much more complex today. The reduction in the number of mortgage products available combined with tighter lending criteria means that navigating your way through the mortgage maze can be difficult.

And while many borrowers have been (and still are) benefitting from low mortgage rates this won’t last for ever and we could start to see rates creep up as the year progresses. That said there are some extremely competitive mortgage deals currently available, whether you are looking to remortgage, switch or buy for the first time. It can be worthwhile having a look to see whether it is cost effective to change lender to get a better mortgage deal or to review this if your initial deal is coming to an end. The same applies to home insurance and protection policies, regular review can ensure that you still have the best cover at a competitive price for you.

So what do you do? Search on the internet? Check out what’s available on the high street or consult a financial advisor who will provide you with tailored advice? We believe that now more than ever reliable financial advice is invaluable and that it is the only way our clients can be sure that they have covered all bases, that they are protected and that they leave with a solution to suit their needs.

A review of your finances in 2010 should be a priority and by speaking to a qualified adviser you can ensure that the financial products and services you currently use are still the best match for your circumstances – plus you could even save some money!

The Mortgage Store are here to help and provide advice for the long-term, if you would like to discuss your financial requirements contact us today by clicking here: ‘Contact’ and we can discuss the options available. We look forward to hearing from you.

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: