What is the Mortgage Guarantee Scheme?
The scheme is aimed to increase the appetite of lenders to lend at higher loan to value. Since the pandemic, lenders have restricted the availability of low deposit mortgages mainly due to an anticipation that house prices would slump as a result of the Corona Virus impact.
Alleviating the Pressures of Purchasing a First Property
Buying a home is a very emotionally stressful experience and using a broker to alleviate the pressures involved can be helpful. The pressure involved in buying a property may be induced by the following factors of purchasing via Help to Buy (HTB):
Mortgages Using the Help to Buy Scheme – It’s All in The Affordability
Purchasing a first home is an exciting and nerve racking process all wrapped into one and the Government’s Help to Buy initiative is an incentivising way for first time buyers to get onto the property ladder. Establishing which home and mortgage is right for you all lies in the affordability of the property. In addition to this, there are a number of variables to factor in when considering using the Help to Buy scheme. Here, we provide insight into the Help to Buy scheme and the Mortgage Comparison Table that we use when helping you to secure your mortgage.
Common Mortgage FAQS
Whether you are thinking about buying your very first property or you are planning on moving up the property ladder, you will probably have to think about taking out a mortgage. Though most people have a vague idea of what a mortgage is, very few fully understand how they work and why most buyers need one. To help you out, we have answered some of the most frequently asked mortgage questions.
The Difference Between Life Insurance & Critical Illness Cover
Though life insurance and critical illness cover are both there to help loved ones financially when you are no longer able to, there are significant differences. Understanding these differences can help you to decide whether you need life insurance, critical illness cover or both.
Do I Need Life Insurance?
A lot of people make the mistake of assuming that they do not need life insurance, but there are undeniable benefits for everyone. Even those who are young, single and without a mortgage should consider life insurance. The death of a loved one brings with it a lot of difficulties, whether the death is unexpected or not, and many of these are financial. With a life insurance payout, the financial struggles of losing a loved one are eased. Rather than being faced with unforeseen financial burdens, loved ones can focus on mourning.
60 Seconds with… Accord Mortgages
As part of a new interview series to highlight some of the lenders we work with, Hawke FS spoke to Mike Houston, Business Development Manager at Accord Mortgages…
Bridge To Let Finance – a viable option for those looking to add value
Since 2010, there has been a 50 per cent increase in bridging finance market-wide. This can be put down to a number of reasons, including the more flexible underwriting used by bridging lenders and the speed at which the finance can be arranged. Indeed, as banks have tightened up their lending criteria, bridging loans have proved a popular choice for customers looking to take out short-term finance – particularly useful for renovations, expansions and restorations and, of course, auction properties or those with long and complicated chains.
Will Help to Buy Help YOU? – It’s All in the Detail
Here at Hawke Financial, the beginning of the year has seen an influx of enquiries from young and old alike as the ‘B’ word has not stopped the sun from rising in the morning…the dream to purchase a property very much remains in the current financial climate.
Buying a Residential Property
Buying a residential property is a huge step for many people. Find out everything you need to know about purchasing a property and some common FAQs, here:
The Beginners Guide To Stamp Duty
If you are in the process of buying a property, you will need to think about the additional costs that you will face. As well as having to consider the overall cost of the property, you will need to factor in the cost of Stamp Duty.
The Landlord’s Guide To Insurance
It doesn’t matter whether you have recently bought a property to rent for the first time or you have been working as a landlord for a while, you need to think about landlord insurance. A lot of people underestimate the importance of landlord insurance, but it isn’t something that should be overlooked. Landlord insurance protects you and your property if anything were to go wrong. There are a lot of different options for landlord insurance, but taking out a policy doesn’t need to be daunting or costly. With a little bit of help, you can have landlord insurance set up in no time at all.
Everything You Need To Know About Remortgages
A remortgage is where you take out a new mortgage on a property you already own – either to replace your existing mortgage, or to borrow money against your property.
10 Questions To Ask Your Mortgage Broker
Your mortgage advisor is a vital source of support and information when it comes to buying your next home. But how do you make sure you’ve found the right consultant and are getting the most from their services? See below some of our top questions to ask your mortgage broker to ensure you have enough information to navigate the mortgage process smoothly:
Hawke Shortlisted For The National LIS Awards
The team at Hawke Financial Services are delighted to announce that we’ve been shortlisted for the Best Buy To Let Broker at the National LIS Awards!
BTL Mortgages for Expats and Foreign Nationals
Although Expats and Foreign Nationals are different types of clients, the way in which lenders assess the risk is fairly similar. Out of the two, there are more mortgage options for Expats. Recently more lenders have entered the lending for these types of clients and we at Hawke have seen an increase in applications other the last 6 months, despite the Brexit saga.
Advice On Becoming A First Time Buyer & Landlord Combined
The first step onto the property ladder for some is not always a residential home to live in but becoming more common a Buy to Let (BTL) even via a Ltd Co.
Read our timely Blog Post below for the most important details on your Self-Employed Income Evidence Cut Off.
With the BTL market slowing down since the (fairly) recent tax changes, more and more clients are looking to vary their investments. Short-term lending in the form of Bridging Finance is becoming an increasingly popular tool. It enables landlords/homeowners to expand and conjure up ways of making money.
The subject of funding development projects can often have the greatest range of clients and, in particular, their experience and knowledge. The spectrum of Development Finance clients is wide. They can range from someone looking to build their first property to an established developer looking to build a large block of flats. Below I have outlined some key areas which development lenders use to make their lending decisions.