Last Thursday on the 2nd August 2018, the Bank of England officially increased interest rates by 0.25% to 0.75%. It’s been nearly 2 years since we had an increase in November 2017, rates went from 0.25% to 0.5%. Read More
When assessing if a mortgage is appropriate, the FCA has always been very clear with mortgage companies, that the mortgage must be affordable and thus in your’ means. The FCA has never given any sort of direction as to age constraints in regards’ to lending. Read More
There are many expats from the UK, that still hold a passionate relationship with their home country, so there’s no wonder that expats buying property in the UK is on the rise. British passport holders who are living or working abroad are applicable to buy property, here we try explaining the process. Read More
Bridging loans can provide you with a short-term, fast and straightforward funding solution for your cash-flow requirements. No matter what your situation is, whether you are self-employed or not or even if you are embroiled in IVA’s, CCJ’s or bankruptcy – bridging can be a solution to help you in the short term.
Juggling finances is crucial to the success of any business. Whether you are a supplier of goods or services, chances are you will be invoicing your client when you issue an invoice the likelihood is you will be waiting for the client to pay, and as many businesses do, you may offer terms such as 30 or 60 days from invoice to pay. Read More
When you decide to buy a property for investment purposes one of your first and foremost considerations should be whether, to place your investment property within a Special Purpose Vehicle (SPV).
SPV’s are limited companies which can be used to purchase your investment property or, move your investment properties in to, at a time of your choosing. Read More
Second charge mortgages are loans which are secured against your property, as the name suggests this loan is second to the first charge, which would be likely for a larger amount of borrowing, probably taken out when you purchased the property at the onset.
Historically, when borrowers where turned down for financial support they may have been attracted to the higher risk, higher interest providers for their borrowing needs! Second charge mortgage rates are higher than the traditional rates but a lot lower then some of the ‘back street’ lenders out there. Read More
Near enough everyone, at some point will realise the fact that buying a property is a road to venture down. Owning your own property has its advantages, historically we can see that properties only really seem to go up in value! An important old question seems to be; “if I rent, am I only paying off my landlord mortgage?” Answer in a nutshell; YES! So, for those who are applicable a mortgage is definitely a path to go down, unless you have 300k in your bank. Read More
Buying a new home can be difficult, especially as lenders only prefer to lend a multiple of 4.5 times your income.
As the average price of a property in the UK is around the 220k and the average household income being around 26k, the maximum you could borrow would be around 117k. This means owning your own home is near high impossible. Even if a lender was to review your status they would require an average deposit of around 44k (80% LTV), which still leaves you needing a mortgage of around 176k. Read More