As a mortgage broker, we traditionally see a surge in enquiries from clients looking to “remortgage”, or apply for a secured loan to consolidate debt accumulated during the previous year and over Xmas.
Unfortunately, although many people would still like to go down this route, with falling house prices and the tightening of credit supply, it is likely that this consolidation option will not be available.
This will leave many with mounting debts and combined with rising unemployment and / or reduced working hours, they will no longer be able to afford the monthly payments.
Do you need our help? - If you are struggling to meet all your credit commitments, you are not alone. According to statistics produced in July 2008, the number of people seeking advice on debt problems is over 6,000 every day.
Don’t bury your head in the sand – There will be a solution. The worst thing you can do when you know you have a problem, is to do nothing. Worrying about which bill to pay first and constantly trying to balance the monthly budget causes stress and anxiety. It is essential that you act quickly to ensure that you can benefit form the best solution for you.
We can help! – By contacting us, we can arrange an initial meeting to discuss your situation and a financial program can be put together to make life more manageable. Our regulated advisers can give help and support you in balancing your monthly budget. Crucially, allowing you to live whilst creating a programme to repay your financial commitments. Solutions are individually tailored to your specific needs.
Remember our advice is completely FREE OF CHARGE and we will happily explain to you which options are open to you and discuss the pros and cons of each. We can then look at one of the following:
Debt Management Individual Voluntary Arrangement Bankruptcy
To find the most suitable and affordable solution for you.
For a free confidential, personal chat, please call us today on 01243 261945
Tuesday 16 December 2008
Friday 14 November 2008
A summary of our key services
A summary of our key services…
Advising and arranging residential mortgages for Home Purchase or Remortgage – As an Independent mortgage broker, we have whole of market access to all available deals, so why not let us do all the hard work and make sure your next mortgage is the very best that is available – and we charge NO broker fees.
Advising and arranging Buy to Let mortgages for both Purchase and Remortgage – we provide a full advice service to assist both new landlords looking to purchase their first property, through to the experienced landlord with a substantial portfolio. With the fast changing market place, our service can be invaluable to ensure you obtain the right mortgage.
Equity Release – let us explain to you the various options that are available and help you to decide whether such a scheme would meet your needs. We can then review the whole market to see who is offering the best deal for your individual circumstances.
Life Insurance – Critical Illness Cover – Income Replacement Policies – Accident & Sickness Policies – Redundancy Cover… A full advice service is offered to help you protect yourself and your family adequately. We will make sure you have the best policies to protect the areas that are important to you. We will prioritise your needs to ensure you have sufficient protection whilst still adhering to your budget.
Buildings / Contents Insurance – In this highly competitive market, this is certainly worth reviewing on renewal each year. With access to some extremely attractive rates, we feel certain we can beat your existing quote and provide you with excellent levels of cover.
Debt Advice – An unfortunate fact and an area that will certainly be more needed over the coming months. We can give general advice on how to deal with creditors, or provide you with more specific advice on Debt Management, Individual Arrangements or even Personal Bankruptcy.
Advising and arranging residential mortgages for Home Purchase or Remortgage – As an Independent mortgage broker, we have whole of market access to all available deals, so why not let us do all the hard work and make sure your next mortgage is the very best that is available – and we charge NO broker fees.
Advising and arranging Buy to Let mortgages for both Purchase and Remortgage – we provide a full advice service to assist both new landlords looking to purchase their first property, through to the experienced landlord with a substantial portfolio. With the fast changing market place, our service can be invaluable to ensure you obtain the right mortgage.
Equity Release – let us explain to you the various options that are available and help you to decide whether such a scheme would meet your needs. We can then review the whole market to see who is offering the best deal for your individual circumstances.
Life Insurance – Critical Illness Cover – Income Replacement Policies – Accident & Sickness Policies – Redundancy Cover… A full advice service is offered to help you protect yourself and your family adequately. We will make sure you have the best policies to protect the areas that are important to you. We will prioritise your needs to ensure you have sufficient protection whilst still adhering to your budget.
Buildings / Contents Insurance – In this highly competitive market, this is certainly worth reviewing on renewal each year. With access to some extremely attractive rates, we feel certain we can beat your existing quote and provide you with excellent levels of cover.
Debt Advice – An unfortunate fact and an area that will certainly be more needed over the coming months. We can give general advice on how to deal with creditors, or provide you with more specific advice on Debt Management, Individual Arrangements or even Personal Bankruptcy.
Thursday 16 October 2008
CREDIT CRUNCH _ NOW CREDIT CRISIS !!!
At some point over the last couple of weeks, the media seem to have changed the name of the financial news from Credit Crunch to Credit Crisis!
I feel certain that we are all getting a little tired of the constant daily reminders of the problems in the financial sector and although I would not wish to belittle the seriousness of the problems, would like to hear some good news occasionally!
I thought I would let you know how the mortgage market is from a Brokers perspective…
The good news – for residential mortgages to purchase property with a deposit of 25% - mortgages are still freely available at reasonable rates – maybe not as good as the “tracker” rates that were available last year at less than Bank Base Rate, but with the recent reduction in the Base Rate, these should be considered as good rates now!
For remortgages that are less than 75% of the property value, again, there are some sensible deals available – with free valuations, free legal costs and in some cases No arrangement fees. In this area, I currently favour the Lifetime trackers that are competitively priced.
For purchases and remortgages at higher loan to values, up to 90%, there are still plenty of deals available, albeit at slightly higher rates. Lenders are being more cautious (as they should be with property prices decreasing) and client’s that have experienced past credit problems will find this more difficult (although not always impossible).
Now to the bad news - With regards to borrowing more than 90% of the value of a property – this area of the market has been totally decimated – and at the time of writing, there are only a couple of lenders that lend at this level. Even in these cases, borrowing would be restricted to a maximum of 95% of the property value and it is likely the remaining lenders will soon retreat.
With the recent news of the “Banks Bailout”, we are yet to see lenders offering better products and relaxing their criteria, but by the time you read this, it could all have changed again…..
I feel certain that we are all getting a little tired of the constant daily reminders of the problems in the financial sector and although I would not wish to belittle the seriousness of the problems, would like to hear some good news occasionally!
I thought I would let you know how the mortgage market is from a Brokers perspective…
The good news – for residential mortgages to purchase property with a deposit of 25% - mortgages are still freely available at reasonable rates – maybe not as good as the “tracker” rates that were available last year at less than Bank Base Rate, but with the recent reduction in the Base Rate, these should be considered as good rates now!
For remortgages that are less than 75% of the property value, again, there are some sensible deals available – with free valuations, free legal costs and in some cases No arrangement fees. In this area, I currently favour the Lifetime trackers that are competitively priced.
For purchases and remortgages at higher loan to values, up to 90%, there are still plenty of deals available, albeit at slightly higher rates. Lenders are being more cautious (as they should be with property prices decreasing) and client’s that have experienced past credit problems will find this more difficult (although not always impossible).
Now to the bad news - With regards to borrowing more than 90% of the value of a property – this area of the market has been totally decimated – and at the time of writing, there are only a couple of lenders that lend at this level. Even in these cases, borrowing would be restricted to a maximum of 95% of the property value and it is likely the remaining lenders will soon retreat.
With the recent news of the “Banks Bailout”, we are yet to see lenders offering better products and relaxing their criteria, but by the time you read this, it could all have changed again…..
Monday 15 September 2008
2.3 trillion protection gap
According to various sources, we are seriously under insured, with only 25% of males and 17% of females insuring their own lives!
Tailored Mortgages not only offer independent mortgage advice, but also offer advice and recommendations for various insurance products to help keep you in your home if the unexpected happens.
The loss of a partner, a serious illness, redundancy - how would you manage financially? Could you cope and maintain your current lifestyle and continue to raise your family?
Many people have life cover to protect their mortgage, but what about the other every day expenses? Utility bills, Council Tax, Food, Travel, Car Expenses, Childcare…the list could go on.
Life Insurance and other protection products are there to help provide financial peace of mind when it’s needed most. They are designed to provide you with a cash lump sum or a monthly benefit and depending on the products chosen can help you to:
Maintain your standard of living
Pay your monthly bills and meet your daily living costs
Pay off your debts
Afford to stay in your family home rather than having to downsize
Premiums are based on your age, gender, lifestyle and current health – it is usually considerably cheaper than most people think.
Even if you set up an insurance policy when you purchased your home, this would be worth looking at again. Personal circumstances change and insurance should be reviewed on a regular basis as part of your financial planning. Over the last few years policies have become more comprehensive and with more providers offering more products, prices have become more competitive – you might find you could save money.
Please don’t delay, contact us TODAY to discuss your individual requirements and see how little it could cost YOU for peace of mind.
Online instant quotes are available from our website – www.tailoredmortgages.co.uk
Tailored Mortgages not only offer independent mortgage advice, but also offer advice and recommendations for various insurance products to help keep you in your home if the unexpected happens.
The loss of a partner, a serious illness, redundancy - how would you manage financially? Could you cope and maintain your current lifestyle and continue to raise your family?
Many people have life cover to protect their mortgage, but what about the other every day expenses? Utility bills, Council Tax, Food, Travel, Car Expenses, Childcare…the list could go on.
Life Insurance and other protection products are there to help provide financial peace of mind when it’s needed most. They are designed to provide you with a cash lump sum or a monthly benefit and depending on the products chosen can help you to:
Maintain your standard of living
Pay your monthly bills and meet your daily living costs
Pay off your debts
Afford to stay in your family home rather than having to downsize
Premiums are based on your age, gender, lifestyle and current health – it is usually considerably cheaper than most people think.
Even if you set up an insurance policy when you purchased your home, this would be worth looking at again. Personal circumstances change and insurance should be reviewed on a regular basis as part of your financial planning. Over the last few years policies have become more comprehensive and with more providers offering more products, prices have become more competitive – you might find you could save money.
Please don’t delay, contact us TODAY to discuss your individual requirements and see how little it could cost YOU for peace of mind.
Online instant quotes are available from our website – www.tailoredmortgages.co.uk
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