HOME MOVERS

REMORTGAGING: Mortgage lenders will usually offer you a favorable interest rate for an initial term of between two and ten years, to encourage you to purchase their mortgage product. After this time your mortgage will normally revert to the lender’s standard variable rate and you could see your monthly mortgage payments rise. A few months before your initial term is due to expire is a good time to see what other mortgage deals are around and what your options are for remortgaging your property.

Remortgaging your property can now be a relatively simple process. You may be able to secure another fixed rate to guarantee your mortgage payments, either by transferring onto another mortgage offered by your current lender or by moving to another lender.

Remortgaging can also be a great way to raise capital for home improvements or to clear debts.

With interest rates currently at a historic low, now could be a great time to remortgage and secure a long-term fixed rate mortgage at less than 3%.
Whether you’re looking to secure a great rate, extend or reduce your mortgage loan amount, our advisers can talk through your options and help you find the best deal for your personal circumstances.

SELF EMPLOYED

SELF EMPLOYED – this is a very complex subject as each bank has different rule about the way they treat your income. We are specialists in finding solutions. Don’t worry if have been turned down by your own bank, we can help.

From 5% Deposit

Limited Track Record

0, 1 & 2+ Years Accounts

Contractors

Multiple Income Sources

Retained Profit Considered

Common Sense Underwriting

HELP TO BUY

The Government provides equity loans, of up to 20% of the purchase price (40% in London Boroughs), to first-time buyers who purchase a new-build property. This means that as a buyer you need to provide 5% of the purchase price as a deposit, you’ll receive up to 20% as an equity loan and then you’ll need to secure a mortgage for the remaining 75%.

Find out more at www.helptobuy.gov.uk

BUY TO LET

Buying a property for investment or keeping your existing one as such does require a completely different type of assessment. The primary driver on what lenders will offer as a loan is the rental income. However, in some instances, your personal income, other rental income or assets can be taken into consideration. Since September 2017 simple rental calculations don’t exist, and each lender will have own stress test. Best Solution Mortgages are experts in interpreting these rules and can overcome obstacles using different approaches.

INTEREST ONLY

This method requires to you purely service the interest on the loan but you are responsible to pay the loan back at a later date. The Financial Conduct Authority (FCA) is happy with this on the basis that you have a viable, clearly defined Repayment Strategy. Most commonly you would use other assets such as property, shares, pensions, ISA’s etc. Some lenders do allow future bonuses or downsizing at a later date. Your method of repaying the loan will have a big impact on the lender recommended as all lenders have different, and sometimes complex rules around this. Deposits of 25% or more are often required, but not in all circumstances.

EXPAT MORTGAGES

If you or any of your family are looking to return to the UK shortly and want to buy a property to live in, we can help you choose from a variety of fixed and variable rate mortgages.

There is a range of mortgage lenders, offshore banks or building societies to choose from and we will also provide you with the ongoing support and expertise of our mortgage brokers.