Mortgages & Property

Buying Property is seen as one of the safest long-term investments you can make. You can be confident that the value of your property will increase over time, although, if property prices become too high, it can be difficult to buy a home to live in.

At some point during the process of buying a house, you will need to deal with a Mortgage Adviser or a Financial Adviser in order to have the best guidance possible. Below are some of the Mortgage products on offer.

  • First Time Buyer
  • Buy to Let
  • Commercial
  • Endowment
  • Equity Release
  • Help to Buy
  • Interest Only
  • Let to Buy
  • Remortgaging
  • Repayment
  • Shared Equity
  • Shared Ownership

First Time Buyer

For First Time Buyers, many lenders will offer special deals in order to get you on the property ladder. The government can also offer schemes such as: Help to Buy, Shared Ownership or Equity Loans.

When making a large decision like buying a house for the first time, it is essential that you work out how much you can realistically pay back every month. Be sure to include additional costs such as: household bills and living expenses.

As you can imagine, there are other costs when buying a property, which include: Conveyancing, mortgage set-up fees, stamp duty, valuation fees, moving and surveying costs.
A Financial Adviser will be able to help you go through all the aspects of buying a house, so that there are no surprise fees.

Equity Release

Those who are near retirement can find themselves with little income while living in a house with a high value. It is now becoming popular to release some of the equity from your home, giving you some extra cash to spend while allowing you to continue living there.

Equity release is usually available to you if you are over the age of 55 and own your own home outright. It is a major decision so should never be taken without Professional Financial advice.

There are 2 types of Equity Release schemes:

Home Reversion is where you sell your home (or a percentage of it) in return for a lump sum of money, a monthly income or both. Your home would be sold to a reversion company, which would make you a tenant in your own home. 

Lifetime Mortgages allows you to borrow money as a lump sum, monthly income or both. Unlike Home Reversion, you would not need to sell your home. Your loan would be secured against your home and paid back, (along with the interest) from the proceeds of the sale of the property after you die.

Help to Buy

Help to Buy is a Government scheme for the purpose of helping people onto the housing ladder or to move up it.

It is designed for those who can afford the monthly mortgage payments, but struggle to save for a deposit.

The Help to Buy scheme has come out in 2 stages. The first began in April 2013 and offers Equity Loans (this is available until 2020).

The second began in October 2013 offering Mortgage Guarantees (available until December 2016).
Both offer to help people buying a house for prospective homeowners who have a deposit of at least 5% for homes worth up to £600,000.

If you would like to discuss Mortgages and Property with a Financial Adviser near you, please click on the button below.

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