All Posts By

Almas Uddin

Fundamentals of Bridging Loans

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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.

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Second charge mortgages

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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

Need a mortgage? High St or Broker?

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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

Need a lender that lends six times your income?

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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

Guide to Development Finance

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Development finance is lending used to finance the conversion, heavy refurbishment or construction of a building. This type of lending is generally for short periods that is utilised during the build of the project. Once the project has been built out, the loan is usually repaid through the sale of the property, or refinance. Read More

How to borrow more from my buy to let property if I am a higher rate tax payer?

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Calling all landlords! If you own multiple buy to let properties Top Slicing may be for you.

The Bank of England’s Prudential Regulation Authority (PRA) initiated more stringent rules for landlords who owned four or more buy-to-let properties. Lenders have had to amend there ways or disregard the business completely. Top Slicing mortgages have been adopted by some lenders, Top Slicing allows landlords to use there personal and or other external income to subsidise short falls in their low rent yielding properties. Read More