Warning: Uninitialized string offset 0 in /home/ezaczclj/public_html/wp-includes/revision.php on line 1

Warning: Uninitialized string offset 0 in /home/ezaczclj/public_html/wp-includes/revision.php on line 1

Warning: session_start(): Session cannot be started after headers have already been sent in /home/ezaczclj/public_html/wp-content/plugins/booked/booked.php on line 372

Warning: Cannot modify header information - headers already sent by (output started at /home/ezaczclj/public_html/wp-includes/revision.php:1) in /home/ezaczclj/public_html/wp-includes/rest-api/class-wp-rest-server.php on line 1775

Warning: Cannot modify header information - headers already sent by (output started at /home/ezaczclj/public_html/wp-includes/revision.php:1) in /home/ezaczclj/public_html/wp-includes/rest-api/class-wp-rest-server.php on line 1775

Warning: Cannot modify header information - headers already sent by (output started at /home/ezaczclj/public_html/wp-includes/revision.php:1) in /home/ezaczclj/public_html/wp-includes/rest-api/class-wp-rest-server.php on line 1775

Warning: Cannot modify header information - headers already sent by (output started at /home/ezaczclj/public_html/wp-includes/revision.php:1) in /home/ezaczclj/public_html/wp-includes/rest-api/class-wp-rest-server.php on line 1775

Warning: Cannot modify header information - headers already sent by (output started at /home/ezaczclj/public_html/wp-includes/revision.php:1) in /home/ezaczclj/public_html/wp-includes/rest-api/class-wp-rest-server.php on line 1775

Warning: Cannot modify header information - headers already sent by (output started at /home/ezaczclj/public_html/wp-includes/revision.php:1) in /home/ezaczclj/public_html/wp-includes/rest-api/class-wp-rest-server.php on line 1775

Warning: Cannot modify header information - headers already sent by (output started at /home/ezaczclj/public_html/wp-includes/revision.php:1) in /home/ezaczclj/public_html/wp-includes/rest-api/class-wp-rest-server.php on line 1775

Warning: Cannot modify header information - headers already sent by (output started at /home/ezaczclj/public_html/wp-includes/revision.php:1) in /home/ezaczclj/public_html/wp-includes/rest-api/class-wp-rest-server.php on line 1775
{"id":1972,"date":"2019-12-05T08:34:53","date_gmt":"2019-12-05T08:34:53","guid":{"rendered":"http:\/\/demo.casethemes.net\/consultio-business\/?page_id=1972"},"modified":"2021-02-16T23:35:20","modified_gmt":"2021-02-16T23:35:20","slug":"mortgages-and-commercial-loans","status":"publish","type":"page","link":"http:\/\/ezaccountants.co.uk\/mortgages-and-commercial-loans\/","title":{"rendered":"Mortgages & Loans"},"content":{"rendered":"

<\/i>
\nAll about Mortgages and Commercial Loans<\/h4>\n
We are\u00a0specialist mortgage broker in Manchester<\/strong>.\u00a0<\/strong>Searching the mortgage markets to find our client the right deal. Our customer’s interests are paramount.<\/p>\n
International UK Mortgages For Overseas Investors<\/strong><\/p>\n
We have facilities to offer Buy To Let purchases all over the UK. \u00a0Our specialist lending facilities are designed for a citizen or British ex-pat or an investor living and working all over the world.<\/p>\n
Residential Mortgages<\/strong><\/h4>\n
First Time Buyer<\/a><\/strong><\/p>\n
Buying your first home is a huge step. There are many questions to ask and potential pitfalls to avoid. Getting independent mortgage advice is essential.<\/p>\n
What does your company offer me as a first timer?<\/p>\n
\n
Shop around the market.<\/li>\n
You get to know your borrowing capacity based on income \/expenditure.<\/li>\n
Find out the monthly costs<\/li>\n
How much deposit is required with each lender<\/li>\n
Peace of mind that you are getting sound advice from market specialists with over 50 years\u2019 experience!<\/li>\n<\/ul>\n
Follow our easy steps below as we offer guidance for the whole process.<\/p>\n
1) Initial interview \u2013 in person, email, or phone to assess your needs and desires.<\/p>\n
2)\u00a0Having your mortgage agreed in principle with a certificate from a lender.<\/p>\n
3) Putting your offer forward and getting it accepted<\/p>\n
4) Completing mortgage application forms<\/p>\n
5) Instruct a solicitor for you, if required, at very competitive rates.<\/p>\n
6) Advise and arrange related insurances<\/p>\n
7) Guidance, via regular contact, through the whole process until you get your first set of keys!<\/p>\n
90% \u2013 95% mortgages are available and have recently reduced in price.\u00a0Parental\/family deposits are allowable. Contact us for details and eligibility! Key to your first homemade easy.\u00a0<\/em><\/p>\n
As with all borrowing, it is preferable to put down the biggest possible deposit as rates are cheaper and you will pay less interest over the mortgage term.<\/em><\/p>\n
\u201cHelp to Buy Equity Loan\u201d for new build properties are available on properties up to a maximum purchase price of \u00a3600,000 with a minimum deposit of 5%.\u00a0 The equity loan is available up to 20% in England and up to 40% in London<\/em>.<\/em><\/strong><\/p>\n
Self Employed<\/a><\/p>\n
Contractors \/ Self Employed \/ Professional Occupations<\/em><\/h4>\n
Borrowing for any of the above situations can be a lot more complex, and lenders often restrict borrowing or have special underwriting requirements. We have extensive knowledge of these requirements having advised in these sectors for many years.<\/p>\n
CONTRACTORS<\/em><\/h5>\n\n
This can be fixed-term i.e. 12 months<\/li>\n
Daily pay rate<\/li>\n
Usually required to have a track record in the same line of work or have a contract renewed.<\/li>\n
Usually a minimum of 6 months left on the contract<\/li>\n<\/ul>\n
SELF-EMPLOYED<\/em><\/h5>\n\n
Most lenders require a minimum of 2 years\u2019 accounts, but we have access where only 1 year\u2019s accounts are acceptable.<\/li>\n
For sole traders\/partnerships \u2013 Net Profit figures are used as the income verification<\/li>\n
For Company Directors who are more than 25% shareholders \u2013 the director\u2019s remuneration and dividends are normally the verified income used, but some lenders will allow company Net Profit.<\/li>\n<\/ul>\n
PROFESSIONAL OCCUPATIONS<\/em><\/h5>\n\n
Clients within the professions i.e. doctors, solicitors, accountants, etc. are sometimes offered preferential rates<\/li>\n
Barrister’s income is remunerated in a specialist way by HMRC and some lenders have difficulty assessing their valid income. \u00a0 We have expertise in this area and are able to liaise with lenders to resolve this.<\/li>\n
Higher income multiples can be obtained for certain professionals.<\/li>\n<\/ul>\n
Remortgage<\/a><\/p>\n
This is simply refinancing your current mortgage debt to your best advantage, most people do this to take advantage of cheaper rates however it can be for many reasons.<\/p>\n
Below are some of the most popular reasons for doing so.<\/strong><\/p>\n
It is important that when \u201cshopping around\u201d for a remortgage that \u201cone size does not fit all\u201d.<\/p>\n
We match your individual requirements to the best deal available based on your circumstances.<\/p>\n
Finding a cheaper rate! Fixed or Tracker?<\/strong><\/p>\n
We search the market on your behalf to find the right product for you. Why stick with your own bank without checking out the competition? We advise which type of deal suits you \u2013 fixed rates or trackers,\u00a0discount loans.<\/p>\n
Most lenders offer attractive incentives such as free valuations and free legal, and some even offer cash back.<\/p>\n
Debt consolidating<\/strong><\/p>\n
This is the process of incorporating some or all of your unsecured debts i.e. credit cards, loans, etc. within your mortgage debt.<\/p>\n
This is something we would look at very carefully to ascertain it was in your best interests.<\/p>\n
Unsecured credit is normally over a shorter term than secured and it is therefore not always in your best interest to do so.\u00a0All our advice is based on your individual circumstances. There are, however, times when consolidating the credit is perfectly justified, especially if the payments are difficult to maintain. Spreading the loans over a longer period will reduce monthly payments and will normally be at a lower interest rate.<\/p>\n
Contact us for a quote or to find out more.\u00a0We recently refinanced a client paying \u00a3 750\/month mortgage and \u00a3750\/month on credit cards. We added the card debt to the mortgage AND reduced the mortgage term by 3 years for a new TOTAL payment of \u00a3 752!<\/p>\n
Capital Raising<\/strong><\/p>\n
Raising money against the equity in your property can be done for many reasons.
\nDivorce is a fact of modern life and many partners would prefer to stay in their current home if they could raise money to \u201cbuy out\u201d their ex. We can advise if this is possible or practical.
\nHome improvements \u2013 for example, build that extension or dream kitchen or even double glaze the house, etc.<\/p>\n
Buy to Let & Let to Buy Deposits<\/strong><\/p>\n
Raising cash to fund a deposit of another property is also becoming common practice.
\nIf you want to move home but cannot sell your current home consider raising the deposit on the current home and renting it out on a Let to Buy scheme \u2013 see our Buy to Let section! Call us to find out if it could work for you.<\/p>\n
Buy To let<\/a><\/p>\n
A Standard Buy To Let deposit is 25%, but as little as 15%<\/h5>\n
Buy to Let<\/strong>\u00a0is now\u00a0big business\u00a0<\/em>with thousands of landlords investing in this sector. We offer advice to all landlords both experienced or first timers. This is a specialised sector with specialist lenders and lending criteria differ from residential. Rental yields are the basis for most loans and usually bigger deposits are required, currently 15-30 %. There are lucrative tax breaks available.<\/p>\n
For loans over \u00a3 200K, we charge no broker fee at all.<\/strong><\/p>\n
Let to Buy Mortgages London<\/h5>\n
The Capital\u2019s BTL market is still buoyant, with rental yields rising and prices still holding up. Refinancing your residential home to raise a deposit for a BTL is possible if you have the income\/equity. This can get you on the first step to becoming a landlord. Or swap your current home onto a BTL deal if moving and can’t or don’t want to sell your home. You can even raise cash on that home to use as a deposit for the new one.\u00a0Call us to find out more.<\/p>\n
Need to\u00a0raise cash on your current portfolio\u00a0<\/strong>to fund further property expansion?<\/p>\n
Sitting on a high variable rate with the current lender? swap to a cheaper fix rate while rates are low. BM Solutions offer a Product Transfer option via brokers with some excellent fee-free deals available.<\/p>\n
2.14% 2 years fixed rate with only 25% deposit needed.<\/p>\n
Please contact us to find out more specific information.<\/strong><\/p>\n
Buy to let and commercial mortgages are not currently regulated by the Financial Services Authority.
\nYour home is at risk if you do not keep up repayments secured upon it.<\/p>\n
Let To Buy<\/em><\/h4>\n
Letting out your existing property to buy a new home becomes increasingly popular.<\/p>\n
Whether it is to avoid a property chain or with the intention to hold it as a long-term investment it is a viable option in many cases.\u00a0 This is classed as a\u00a0Consumer Buy to Let<\/strong>\u00a0and fewer lenders operate in this sector or have restricted caveats.<\/p>\n
\n
Letting the property whilst trying to buy a new residential property avoids the chain and can put you in pole position when making offers on the new purchase.<\/li>\n
You can capital raise, subject to equity, to provide deposit funds towards the new purchase.<\/li>\n
Capital Raise \u2013 to pay off debts to help affordability for the new purchase.<\/li>\n
Easy way to get on the Buy to Let ladder without the need to pay Stamp Duty and Solicitors costs.<\/li>\n
Long term investment vehicle to complement retirement planning.<\/li>\n<\/ul>\n
Purchase Guide<\/em><\/h4>\n
When purchasing a Buy to Let property for the first time you would normally need to be a current property owner.\u00a0 A couple of lenders so allow a Buy to Let for first time buyers also.<\/p>\n
To outline some key points when purchasing a Buy to Let property:<\/p>\n
\n
Deposit<\/strong>\u00a0\u2013 Generally speaking, a deposit of 20-25% is required.<\/li>\n
Minimum Income<\/strong>\u00a0\u2013 most lenders require a personal income as part of their criteria.<\/li>\n
Stamp Duty Land Tax<\/strong>\u00a0\u2013 will be payable at a higher rate in most instances<\/li>\n
Mortgage Agreement in Principle<\/strong>\u00a0\u2013 Most estate agents will require proof of this in the form of a certificate which we will organise for you.<\/li>\n
Mortgage Property Valuation<\/strong>\u00a0\u2013 this is required by the lenders to assess the value and anticipated rental income of the proposed property.<\/li>\n
Rental Income<\/strong>\u00a0\u2013 most lending is based upon the rental income achieved\/expected.<\/li>\n
Personal Income<\/strong>\u00a0\u2013 can also be used to enhance the borrowing if the rental income is low.\u00a0 This is becoming increasingly important in the London market to maximise borrowing.<\/li>\n
Auction Properties<\/strong>\u00a0\u2013 this can be done but a note of caution the property must be in a lettable condition based upon the mortgage valuers’ comments.\u00a0 Normally a 10% deposit has to be paid and completed within 1 month, unless the mortgage is granted the deposit is at risk.\u00a0 Many landlords will buy with cash at auctions and refinance several months later.<\/li>\n
Bridging finance<\/strong>\u00a0\u2013 this can be utilised if you need to buy quickly at auction and the property is in a condition where it cannot be let immediately.\u00a0 The idea is to use the bridging finance whilst the property is refurbished to a standard that it can be let, we would then replace this finance with a conventional Buy to Let mortgage.<\/li>\n<\/ul>\n
<\/p>\n
Portfolio<\/em><\/h4>\n
Portfolio lending is primarily professional landlords with 6+ properties.<\/p>\n
Many mainstream Buy to Let lenders will only lend to clients with less than 6 properties.\u00a0 However, we have access to broker only lenders who cater to this level of borrowing\/portfolio size.<\/p>\n
\n
Post credit crunch there are fewer lenders in this sector.<\/li>\n
Lending can be against the whole portfolio equity and not just individual properties.<\/li>\n
Buying at auction can be easier using the existing portfolio as security.<\/li>\n
Some portfolio lenders will only lend with exclusive rights i.e. to one Ltd Company.<\/li>\n<\/ul>\n
Ltd Company<\/em><\/h4>\n
Buying your property through a Limited Company needs to be via a\u00a0Special Purpose Vehicle Limited<\/strong>\u00a0Company (SPV)<\/strong>\u00a0\u2013\u00a0 which is solely for the purpose of property purchases\/rentals.\u00a0 You cannot use your existing Limited Company unless it is set up in this way.<\/p>\n
If you already have a LTD Company and are wondering whether this would meet the SPV criteria, this is what the lenders like to see:<\/p>\n
\u2022 SIC code for letting property<\/p>\n
\u2022 No sign of any revenue through the company of anything other than letting property<\/p>\n
SIC code<\/strong>\u00a0\u2013 The Standard Industrial Classification of Economic Activities (SIC)\u00a0 \u2013 used to classify business establishments by the type of economic activity in which they are engaged.<\/p>\n
There are pros and cons to this type of purchase highlighted below:<\/p>\n
Pros<\/p>\n
\n
Income Tax can be lower as you would take income in the form of dividends which are taxed at a lower rate than personal income taxation.\u00a0 This is mainly beneficial to higher rate taxpayers.<\/li>\n
Profits can be retained within the company to further reduce tax liabilities in any given year.<\/li>\n
Shareholders can be added to the company to spread the tax liability.<\/li>\n<\/ul>\n
Cons<\/p>\n
\n
No personal annual Capital Gains Tax exemption is available.<\/li>\n
Requirements to comply with Company Law\/Companies House, which adds extra costs and administrative burdens.<\/li>\n
Fewer lenders in the market and generally higher interest rates.<\/li>\n<\/ul>\n
<\/main><\/p>\n
Refinance Your Buy To Let<\/em><\/h4>\n
Remortgaging your existing property can be beneficial in several ways:<\/p>\n
\n
Cheaper rates \u2013 current deal expired? Avoid the variable rate by swapping lenders.<\/li>\n
Capital Raising \u2013 this can be for many reasons such as Buy to Let deposits, debt consolidation, home improvements, etc.<\/li>\n
Unencumbered properties \u2013 i.e. no mortgage or bought at auction \u2013 can be refinanced too.<\/li>\n<\/ul>\n
Moving Home<\/a><\/p>\n
Let us take away some of the stress of moving home by arranging your perfect loan!\u00a0<\/em><\/h5>\n
People move house for many reasons such as<\/p>\n
\n
Relocating with work\/schooling<\/li>\n
Upsizing\/Downsizing<\/li>\n
Divorce\/Break-ups<\/li>\n<\/ul>\n
Whatever your reason let us take away some of the stress of moving home by arranging your new loan!\u00a0<\/em><\/p>\n
This can be one of life\u2019s most stressful tasks. Why not reduce the hassle of arranging the finance by letting us take care of that for you.\u00a0 We can discuss how much you can borrow, what it costs, and who is offering the best mortgage for you.<\/p>\n
\n
Assess your finances to see what you can afford to buy<\/li>\n
Give you costings on monthly payments<\/li>\n
Reassess your insurance requirements \u2013 life cover & buildings and contents<\/li>\n
Give guidance on moving costs \u2013 solicitor\u2019s fees, valuation fees, stamp duty<\/li>\n
Early Repayment Charges \u2013 check to see if you have any tie in clauses on your existing mortgage, and compare the options of porting the existing deal or taking a new deal with a new lender.<\/li>\n
Bridging finance \u2013 this is utilised if you need to buy your new house urgently but haven\u2019t\/can not sell your current property quickly.\u00a0 It is a temporary finance option subject to the equity in your current home.<\/li>\n<\/ul>\n
<\/i>
\nCommercial Loans<\/h4>\n
PROVIDING FINANCE FOR A BUSINESS OR COMMERCIAL PROPERTY PURCHASE IS A SPECIALISED AREA WITH MUCH FEWER LENDERS THAN IN THE RESIDENTIAL SECTOR.<\/em>LENDING CAN UNDERSTANDABLY BE MORE RISKY FOR BANKS AS NOT EVERY BUSINESS WILL SUCCEED AND GENERALLY THERE ARE FEWER BUYERS LOOKING TO BUY A COMMERCIAL PROPERTY THAN SAY A RESIDENTIAL HOME OR EVEN A BUY TO LET PROPERTY.<\/em><\/p>\n
WE HAVE MANY YEARS\u2019 EXPERIENCE IN THIS SECTOR. WE HAVE ACCESS TO A RANGE OF LENDERS AND BANKS AND THEIR SPECIALIST UNDERWRITERS. FROM HIGH STREET NAMES LIKE SANTANDER TO PRIVATE BANKS IN THE CITY OF LONDON.<\/em><\/p>\n
Some areas we can consider;<\/h5>\n
\n
Mortgages up to 70% of property value<\/li>\n
We only loan against property values, not leasehold or business goodwill<\/li>\n
Purchase a going concern<\/li>\n
Development finance<\/li>\n
Bridging finance<\/li>\n<\/ul>\n
\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
All about Mortgages and Commercial Loans We are\u00a0specialist mortgage broker in Manchester.\u00a0Searching the mortgage markets to find our client the right deal. Our customer’s interests are paramount. International UK Mortgages For Overseas Investors We have facilities to offer Buy To Let purchases all over the UK. \u00a0Our specialist lending facilities are designed for a citizen […]<\/p>\n","protected":false},"author":1,"featured_media":1531,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"_links":{"self":[{"href":"http:\/\/ezaccountants.co.uk\/wp-json\/wp\/v2\/pages\/1972"}],"collection":[{"href":"http:\/\/ezaccountants.co.uk\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"http:\/\/ezaccountants.co.uk\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"http:\/\/ezaccountants.co.uk\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/ezaccountants.co.uk\/wp-json\/wp\/v2\/comments?post=1972"}],"version-history":[{"count":73,"href":"http:\/\/ezaccountants.co.uk\/wp-json\/wp\/v2\/pages\/1972\/revisions"}],"predecessor-version":[{"id":5350,"href":"http:\/\/ezaccountants.co.uk\/wp-json\/wp\/v2\/pages\/1972\/revisions\/5350"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/ezaccountants.co.uk\/wp-json\/wp\/v2\/media\/1531"}],"wp:attachment":[{"href":"http:\/\/ezaccountants.co.uk\/wp-json\/wp\/v2\/media?parent=1972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}