Mortgage Adviser Nuneaton

 

 

Mortgage Adviser in Nuneaton

Mortgage Adviser in Nuneaton

Mortgage Adviser in Nuneaton

 

 

 

 

 

 

 

First Time Buyers

first time buyer Mortgage Adviser in Nuneaton

 

The vast market of mortgage products available from a wide range of suppliers can leave you with a confusing decision, but we seek to make the first-time buying of a property as easy as possible. Our mortgage advisers in Nuneaton help to break everything down for you so decisions are easy to reach.

We have some great top tips for first time buyers but if you’re still not sure, we are here to help you on the journey to buying your own home.

 

 

 

10 Top Tips For First Time Buyers

 

1. Be Realistic

When it comes to your budget and spending, make sure everything is affordable. A budget calculation helps to accomplish this.

It is wise to seek a Decision in Principle certificate, so that you know how much you can offer when you’ve found the right property.

New homes will require furnishings, whereas older properties may require extensive work such as re-wiring, re-flooring or tiling.

Make sure you factor all potential costs into your budget on top of the purchase price, as well as other fees like conveyance and stamp duty.
 

2. Bring An Experienced Home Buyer To View The Property

This can be invaluable to spot things you may have missed. Perhaps a parent or a home-owning friend would be happy to come along and keep an eye out for all the good and bad within a property.

If this is not possible, make sure you bring an experienced home buyer with you when arranging a second viewing. You never know what they might spot.
 

3. Extra Costs

If living independently for the first time, be sure to budget for expenses such as council tax, gas and electricity bills, boiler maintenance and home repairs.
 

4. Council Tax

Find out beforehand what the Council Tax charge is. The selling agent should be able to tell you which tax band the property is in, and how the charges are levied by the local authority.


5. Good Local Schools

If these are nearby, this will make your property easier to sell in the future. It might also raise your purchase price...
 

6. Security Levels

Remember that if you are moving from a low to higher crime rate area, or if your vehicle storage changes from locked garage to on-road parking, this is likely to raise your car insurance premiums.
 

7. Public Transport Availability

Find out how best to reach your new property via public transport, even if for any of your friends or family without a car. Find out local bus routes, train service frequency and the range of flights available at your local airport.
 

8. Local Amenities

What do you like to do? What conveniences do you enjoy? Make a list. Whether it is the choice of supermarket, sports centres, pubs, restaurants, shops or cinemas, scout your local area to make sure everything you need is in the area of your new property.
 

9. Internet Availability

Most of us rely on the internet for many things. If that includes you, make sure you are clear on the internet availability and seed in your new area. Ask you selling agent, they should know.
 

10. Commutability

Living close to work is always a joy. Commuting can be a drag, and an expense. If property is more expensive near your place of work, weigh up the additional expense against the costs and time of commuting. Lift sharing with local colleagues is always a possibility too.

 

 

 Talk To Us About Your First Time Buyer Mortgage

Want some more advice about getting a mortgage for your first home from our mortgage adviser in Nuneaton?
Call us today and let us help you with those vital steps in making the best decisions that work for you.  


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Re-Mortgaging

 

Remortgaging means you ae switching to another deal, and usually another lender.

While remortgaging can occur to consolidate debt, remortgaging usually occurs because it will work out cheaper for people. An introductory rate with your current lender might have ended, and now there are other discounts or lower APRs on the market, for example.

You may be able to switch your mortgage deal with your current lender without extra costs. Many lenders allow switching of mortgages reasonably frequently.

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.

Adding short term debts to your home could increase the term over which they are paid, which will increase the overall amount payable.

Mortgage Adviser in Nuneaton, remortgage consultations

 

 

 

 

 

 

 

 

Things to consider When Re-Mortgaging


If you re-mortgage, you might have to pay an early repayment charge to your existing lender. But don’t worry, we will check this for you before making any application.

But beware, remortgaging is not always the best option. Even if you are being offered a lower APR elsewhere, you must also consider: 
 

They May Charge Fees

The new lender may charge you fees – for valuation and solicitor services, even if you paid these with your current lender. With that said, many products do offer incentives such as free valuation and solicitor services.

Overall Repayment Period 

The overall repayment period. You might be paying less monthly – but check the final repayment date! It might last longer than your current mortgage.

 

 

 

Get Some Advice On Re-Mortgaging With Us

Re-mortgaging can be a hard decision to make and is something you need to think carefully about before moving forward. In the situations where you do wish to go ahead with a re-mortgage our mortgage adviser in Nuneaton can help find the best deal and offer you sound advice on the best way to proceed. Call us today and book a consultation to discuss a re-mortgage with us.


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 Buy To Let


 

Before you jump into being a private landlord, be aware that it is not often as easy as everyone thinks. It can be risky and more complicated, time consuming when compare to other investment, and there is no guarantee of house prices rising.

With that said, over time, letting out a second property to tenants can reap considerable financial rewards.

The Financial Conduct Authority does not regulate some forms of buy to let lending.

Buy to let Mortgage Adviser in Nuneaton

 

 

 

 

 

Three Main Differences in Buy To Let Mortgages


 There are 3 main differences in securing buy to let mortgages compared to regular mortgages:

1. Rent Potential

Offering a buy to let mortgage is often decided on the rent you will earn in addition to your income. Sometimes your income is not even considered.
 

2. Interest Rate

Buy To Let Mortgages have slightly higher interest rates than normal.
 

3. Larger Deposit

Typically a minimum of 20% or 25% of the property’s value is required for deposit.
 

 

 

 

 

 Additional Costs to Keep in Mind

 As well as the monthly mortgage repayments, there are additional costs.

You should be aiming to receive a gross rent of about 135% of the rental property’s interest-only mortgage repayments. This is to cover your costs should anything go wrong. These additional costs include:

 

Property upkeep

Maintenance costs for the property
 

Letting agent’s fees

Around 10% of the monthly rent for finding and vetting tenants, with an additional cost of around 5% if you require a full management service.
 

Ground rent/service charges

Applicable to leasehold properties.
 

Legal insurance

To cover costs from evicting tenants in the event of non-payment. This is very important, as it can be very expensive.

 

Insurance

Building insurance and contents insurance for the items provided as part of the rental agreement.
 

Furnishings

Purchasing furniture can be expensive. If the property is to be let furnished, make sure you are covered for this by your home insurance.
 

Gas/electrical appliances.

Costs of maintaining the appliances and ensuring the comply with any regulations such as safety test.
 

Decorating costs

The property may require some work. Anything from painting to a new bathroom suite might be required before it is suitable for letting.

 

 

 

 Call Us And Get Some Advice On Buy To Let Mortgages

We want to make sure you get the right mortgage for your buy to let property making it work for you as a landlord. Book a consultation with our mortgage adviser in Nuneaton to go through your requirements and the additional costs mentioned above that you need to keep in mind. We will help to find the best buy to let mortgage that works for you.


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Moving Home

 

 

Moving home is one of the most exciting and stressful times of our lives, which estate agent do i choose? How much do i go on the market for? Will i get a mortgage. Can i afford the new mortgage payments?

These are just some of the questions you normally ask yourself when planning a move, we know there's lots more to think about, 

Let's get you ready to move, our let's get ready service puts you in control and provides all of the information you need before you put your house on the market, allowing you to take control of the process and make informed decisions.

 

 

 

 

Moving Home Top Tips

   

Budget Planning 

Moving home is very expensive, estate agency fee's, solicitor fee's, stamp duty, valuation fee's, mortgage advice fee's, removal fee's the list goes on and on.

A detailed cost of moving budget plan helps keep you in control of the financial side so there are no unexpected surprise's later on.

Internet

We lead connected lives now, always check what internet speeds that are available, especially if you work from home.

Schools

One of the biggest reason behind moving home is catchment area, make sure the house you choose is within the catchment area of  your chosen school, remember that they do change.

Estate Agent

Choose your agent carefully, a good estate agent really can worth every penny, especially if things go wrong with the sale.

Traditional agent versus Online Agent

Both options have advantages and disadvantages, think about what's right for you.

Traditional Estates Agents

 Typically charge more for there services, but are more involved in the selling process and have local offices for you and your buyers.

Online / Hybrid Agents

Typically a much cheaper option, but they generally have far less interaction with you and your buyer during the selling process, you do more of the work and you tend to deal with a call centre, but you save £££'s on the fee's


 

 

Thinking Of Moving Home and Looking For Advice?

With all the stress and paperwork involved in moving home we want to make sure you make the right steps when relocating. Here at Marc Catry our mortgage advisers in Nuneaton want to help reduce the stress involved when you do move home. Call us today to book a consultation or seek advice.

Call Us Today 

 

Help To Buy

 

 

 

 

 

 

 

Help to Buy

 

 

Copyright © 2018 Marc Catry. All Rights Reserved

Marc Catry is a registered individual of Andrew Groves who is authorised and regulated by the Financial Conduct Authority. Andrew Groves is entered on the FCA under reference 741910

Registered office: FPS Financial, 66 St. Nicolas Park Drive, Nuneaton, Warwickshire, CV11 6DJ. Telephone 02476 351 151.

The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK. . 

This site is only directed at persons within the UK. Calls may be recorded for training and monitoring purposes.

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