I'm often asked - What's the best mortgage at the moment ?
Unfortunately there is no single answer to the question !
There are generally something around 7,000 mortgage products on offer (6,973 according to my main sourcing system on 27th December 2016 - and there are a small number of lenders who don't publish on there and second charge loans are sourced on another system) at any given time.
'What is the best mortgage for you and your current circumstances and future ambitions ?' would be a far more meaningful question !
... and that is the approach I, as an adviser, will take - and why we need to know a great deal about you before we can give such advice.
The remaining pages of this section give some basic information about mortgage types that require special consideration - but talking through your circumstances is the only real way to answer the question !
There are generally something around 7,000 mortgage products on offer (6,973 according to my main sourcing system on 27th December 2016 - and there are a small number of lenders who don't publish on there and second charge loans are sourced on another system) at any given time.
'What is the best mortgage for you and your current circumstances and future ambitions ?' would be a far more meaningful question !
... and that is the approach I, as an adviser, will take - and why we need to know a great deal about you before we can give such advice.
The remaining pages of this section give some basic information about mortgage types that require special consideration - but talking through your circumstances is the only real way to answer the question !
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT
First time - Would you like someone experienced on your side ?
Whether using a 'Help to Buy' scheme (there are several versions) or not we believe that the very great majority of first time buyers would benefit from qualified mortgage advice on an independent basis.
This is even more so the case if trying to address the issues of low and/or gifted deposits.
The impact of decisions made at this time in your life will be felt for many years to come - and the support of an experienced mortgage adviser helping you deal with estate agents and solicitors in addition to the ever more intrusive questioning of the lenders is almost always appreciated.
This is even more so the case if trying to address the issues of low and/or gifted deposits.
The impact of decisions made at this time in your life will be felt for many years to come - and the support of an experienced mortgage adviser helping you deal with estate agents and solicitors in addition to the ever more intrusive questioning of the lenders is almost always appreciated.
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT
Is it easier next time round - maybe or maybe not !
Even if your circumstances haven't changed - the rules will have ...
... and now you may need to consider 'porting' the current mortgage (a fulll application in its own right, rather than an entitlement) perhaps with additional borrowing or with a top-up, second charge, loan from another lender - or perhaps selecting a new lender for the complete deal.
... and are there other commitments, accrued over the last few years which are affecting the whole situation ?
A complete and independent review of all the options is always a sensible path.
... and now you may need to consider 'porting' the current mortgage (a fulll application in its own right, rather than an entitlement) perhaps with additional borrowing or with a top-up, second charge, loan from another lender - or perhaps selecting a new lender for the complete deal.
... and are there other commitments, accrued over the last few years which are affecting the whole situation ?
A complete and independent review of all the options is always a sensible path.
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME
Remortgage - time for a review ?
For many people they will simply have reached (or be about to reach - 3 months ahead is good timing) the end of a fixed rate period and any penalties for changing their mortgage.
While the current lender will normally offer a replacement rate (product transfer) without extensive questions about your circumstances, providing you do not wish to change the borrowing details in any way, this may or may not be the best option available to you.
If you wish to make any changes to the borrowing this will effectively be new borrowing, even to the current lender, and each lenders' eligibility criteria will apply.
If you are considering additional borrowing - the option of a separate (either from the same lender or from a second charge lender) loan should be fully evaluated aginst a new single combined loan from any source, taking into account any 'early redemption penalties' that may apply.
While the current lender will normally offer a replacement rate (product transfer) without extensive questions about your circumstances, providing you do not wish to change the borrowing details in any way, this may or may not be the best option available to you.
If you wish to make any changes to the borrowing this will effectively be new borrowing, even to the current lender, and each lenders' eligibility criteria will apply.
If you are considering additional borrowing - the option of a separate (either from the same lender or from a second charge lender) loan should be fully evaluated aginst a new single combined loan from any source, taking into account any 'early redemption penalties' that may apply.
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME
Family based solutions - be it guarantor, joint ownership, joint mortgage, gifted deposit or a combination.
Whether parents simply gifting a deposit to help their kids onto the property ladder, or a more complicated solution for a divorce or separation where family help to retain a property or replace it - our experience covers this difficult area.
The best solution will always be dependent upon a wide variety of factors affecting all involved parties so the use of experienced professional advice is strongly recommended.
The best solution will always be dependent upon a wide variety of factors affecting all involved parties so the use of experienced professional advice is strongly recommended.
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Right to Buy - it helps to talk with a specialist
We have specialised in Right to Buy mortgage advice since April 2012, when the government introduced considerably increased discounts in order to revitalise the scheme.
We have as a result assisted council tenants throughout England and Wales to become home owners.
While on the face of it a discount of up to £77,900 (£103,900 in London Boroughs) is an unbeatable bargain, the rules and future restrictiosn and implications can be complicated and you need to fully undertsand these together with the impacts of a mortgage liability.
We also support Right to Acquire applicants and are watching the (slow) developments of the extension of Right to Buy to the Housing Association sector.
We have as a result assisted council tenants throughout England and Wales to become home owners.
While on the face of it a discount of up to £77,900 (£103,900 in London Boroughs) is an unbeatable bargain, the rules and future restrictiosn and implications can be complicated and you need to fully undertsand these together with the impacts of a mortgage liability.
We also support Right to Acquire applicants and are watching the (slow) developments of the extension of Right to Buy to the Housing Association sector.
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Buy to Let - a rapidly changing market
The BTL sector is changing beyond all recognition - following on from the introduction of an additional 3% Stamp Duty on second properties in April 2016 and the previosuly announced changes to taxation on rental properties which start to take effect from April 2017 - the underwriting considerations for new BTL mortgages will also become considerably more testing from 1st January 2017:
In simple terms the rental income necessary for a given amount of mortgage borrowing will increase and the underwriting process will generally look further into the applicant(s)' background affordability.
There remains a sizeable portion of the BTL product range which can only be accessed via mortgage advisers - this together with the impact of the tax changes changes means that mortgage and associated tax advice should always be taken when considering BTL investment
In simple terms the rental income necessary for a given amount of mortgage borrowing will increase and the underwriting process will generally look further into the applicant(s)' background affordability.
There remains a sizeable portion of the BTL product range which can only be accessed via mortgage advisers - this together with the impact of the tax changes changes means that mortgage and associated tax advice should always be taken when considering BTL investment
A MORTGAGE IS A LOAN SECURED AGAINST YOUR PROPERTY. YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
THE FINANCIAL CONDUCT AUTHORITY DOES NOT REGULATE MOST FORMS OF BUY TO LET MORTGAGE
THE FINANCIAL CONDUCT AUTHORITY DOES NOT REGULATE MOST FORMS OF BUY TO LET MORTGAGE
Police mortgages - serving the police community since 2006
Back in 2006 I joined a company - Police Mortgages (long since defunct) - who specialised solely in the police market.
While my current business services clients in all walks of life on a national basis I still retain a large and still growing client base of police officers (many remaining from the original days @ Police Mortgages).
While there are few special mortgage products specifically for police officers, knowing 'the job's' complex and changing pay, benefits and pension structures and being willing to work around many officers' irregular hours means we are still the ideal choice for their mortgage advice.
While my current business services clients in all walks of life on a national basis I still retain a large and still growing client base of police officers (many remaining from the original days @ Police Mortgages).
While there are few special mortgage products specifically for police officers, knowing 'the job's' complex and changing pay, benefits and pension structures and being willing to work around many officers' irregular hours means we are still the ideal choice for their mortgage advice.
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
The guidance contained within this website is subject to the UK regulatory regime and is primarily targeted at consumers based in the UK.
The Mortgage Lady is a trading style of Janet Hall, who is an appointed representative of TenetLime Ltd, which is authorised and regulated by the Financial Conduct Authority. TenetLime Ltd is entered on the Financial Services Register (www.fca.org.uk/register) under reference 311266
Proprietor: Janet Hall
115 The Street • Crowmarsh Gifford
Wallingford • Oxon • OX10 8EF
0330 999 1955
115 The Street • Crowmarsh Gifford
Wallingford • Oxon • OX10 8EF
0330 999 1955
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In doing so you are leaving the regulated site of Janet Hall - The Mortgage Lady and neither we nor TenetLime Ltd have any control or influence on the pages you are about to access, or to where any subsequent links may take you.
