Mortgage Advice

There are a number of different factors that determine how much you can borrow.

Income-Based Calculations: Lenders typically offer 4-4.5 times your annual income, although some may offer up to 5 times depending on the lender and your financial profile.

Affordability and Expenses: Beyond income multiples, lenders assess affordability based on your income, credit history, existing debt, and monthly expenses. They’ll also consider lifestyle costs (e.g., childcare or travel) to gauge your ability to meet repayments.

Deposit Size: A larger deposit can increase your borrowing power and often leads to better rates.

Our team of experienced mortgage advisors will help you to calculate the amount you can borrow taking all of these into considerations.  Get in touch today to arrange a no obligation appointment.

There are a range of different types of mortgages available in the market.  These include repayment mortgages where you repay both the interest and the amount borrowed, interest only mortgages where your monthly repayments only cover the interest on the loan. 

Mortgage rates can be fixed for a period of time, or variable and move in line with interest rates.  There are also flexible mortgage products for those with variable incomes that might want to make over payments or offset mortgages that enable you to offset savings against the amount borrowed.

Choosing the best mortgage type for you depends on factors like how long you plan to stay in the property, income stability and your tolerance for risk. Our experienced team of mortgage advisors can offer tailored advice on the most suitable product based on your circumstances.

In short, yes you can. 

Depending on whether you are self-employed or a Director of a Limited Company will determine the choice of lenders available to you, their lending criteria plus the documentation you will need to provide as part of the process. 

You may find that some lenders don’t have an appetite for this type of lending, however there are also specialist lenders available.

Working with a specialist mortgage broker can help to ensure you find the right mortgage provider and product to meet your individual circumstances.

Yes there are a number of different ways to help your children or grandchildren get onto the property ladder. 

These include:

• Joint Borrower Sole Proprietor Mortgages: This allows you to contribute to the mortgage payments without being on the property deeds, which helps with affordability assessments.
• Guarantor Mortgages: With these, you guarantee the mortgage with your own income or assets, which can help them qualify. However, this carries risk if they miss payments, as you are financially liable.
• Family Offset Mortgages: These let you use savings to offset the mortgage balance, reducing monthly payments or interest without handing over the money directly.
• Gifting a Deposit: You can gift your child/grandchild a deposit, which can increase their borrowing potential and reduce the mortgage size.

Deciding which option is best will depend on your individual circumstances and we would recommend obtaining advice to ensure you are aware of any implications on your own financial affairs. 

Again there are a number of different ways to raise funds against your home, which one is the best option for you will depend on your personal circumstances.  Options include:

• Remortgaging: This is one of the most common methods, where you take out a new mortgage that’s larger than your existing balance. You can use the extra funds for other purposes, like home improvements, consolidating debt, or investments.
• Equity Release: If you’re over 55, you might consider a lifetime mortgage or home reversion plan. Equity release allows you to access cash tied up in your home without selling, but it may affect inheritance and could have interest that compounds over time.  Find out more about Equity Release here.
• Further Advance: You could ask your current mortgage provider for an additional loan, which is usually secured against your home but may have different terms and interest rates.

Our team of qualified mortgage advisors can help you to understand the best way to raise funds against your home depending on your individual circumstances.  Get in touch today for a no obligation conversation.

Equity Release / Lifetime Mortgages / Home Reversion Plan will reduce the value of your estate and can affect your eligibility for means tested benefits.