Mortgages
Get a better Mortgage
More than ever there currently exists a greater range of mortgage options and mortgage providers. This presents any consumer with a daunting selection challenge. Travis Yates offer a full research and recommendation service to help lighten that load and smooth the path through to completion of your mortgage.
Our expert mortgage advisers will find the best deal for you? one that provides value for money and meets your personal circumstances.
Borrowing
The amount an individual can borrow will depend entirely on your current financial situation. It would depend on whether a substantial deposit can be put down, how clean your credit history is, your total gross income and whether you have any other unsecured debts elsewhere.
Can I have more than one mortgage?
You can have as many mortgages as you desire. There is no legal limit. The only constraint on the amount of mortgages you can have is your own affordability on the repayments. In some cases proof will not always be necessary. However, despite the fact that you can have many mortgages you can only have one main residence.
Buy-to-let Mortgages
The theory behind buy-to-let is typically designed to stimulate the growth of the private rented sector by encouraging private investors to take the opportunities given by low, highly competitive, interest rates and the reasonable certainty of sustained capital growth over the coming years. Investing in buy-to-let properties has become more and more popular over the last few years. Many people believe that it can be used as an answer to retirement income but this has drawbacks as well as benefits.
We must make you aware that with this type of mortgage there could be drawbacks if the property was empty as you would have to pay the mortgage yourself. You must see this as a long term investment due to house price fluctuations therefore advice would be recommended before taking out this kind of mortgage.
Lifetime Mortgages
A solution to this could be taking the equity release route, otherwise known as a lifetime mortgage. Equity Release is the generic term given to all forms of financial plan which generate cash lump sums or income from a property's equity. There are two main types of Lifetime Mortgages and Home Reversion Plans and both are now regulated by the Financial Services Authority. We will involve the members of your family in any independent legal advice. If you are interested in Equity Release we consider it essential that you contact us and speak to an independent financial adviser.
Your property may be repossessed if you do not keep up repayments on your mortgage.
Equity release refers to home reversion plans and lifetime mortgages. To understand the features and risks, ask for a personalised illustration.
For mortgages and equity release we can be paid by a fee of £750 or we can be paid by commission.
The FSA do not regulate some forms of buy to let mortgages.
For more information on Mortgages please complete the client enquiry form and one of our advisers will call you back to arrange an appointment. Alternatively you may telephone us on 01254 823 395 or email us at info@travisyates.com
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