Happy New Year for 2018!!

  • by C BLAKE-SYMES
  • 31 Dec, 2017

From all the team at Bristol, Bath and Exeter Mortgages Online

On behalf of all the team at Bristol, Bath and Exeter Mortgages Online, we would like to wish you a Happy New Year!

We would like to take this opportunity to thank all our clients old and new, for their business in 2017. We very much appreciate all the referrals, recommendations and the loyalty that our clients show, many returning to us time and time again, plus all the fantastic reviews we receive are great-thank you again!

We wish you, your family and friends a very Happy and Healthy 2018!!

We are open our normal hours from 8.30 am until 7.30 pm from Tuesday 2nd January.

Phil Clark's Mortgage Blog

by C BLAKE-SYMES 06 Jan, 2018

 Our launch newsletter was very well received with positive feedback saying it very useful and informative. We very much hope that you will find lots to interest you in this issue too.

 Some of the topics covered include:

  • The recent interest rate rise.
  • Current mortgage market update.
  • Ready to Remortgage?
  • Check your Credit Rating.
  • Protecting your mortgage and your family.
  • Making the most of your Buy to Let mortgage/investment.
  • Facts for First-time Buyers.

Please CLICK HERE to view or download your copy

 Content  Overview

 We’ve recently seen the first rise in a decade in the Bank of England’s Bank Rate. It’s not a massive jump, but it does signal the likely direction we’re going in. That said, we remain in a low interest rate environment. So, whilst those on a variable rate are likely to see a rise in their monthly payments, it’s not too excessive at this stage and if you’re looking to change, you may be pleasantly surprised by some of the deals on offer.

 In this issue, we consider this and the various borrowing scenarios that you may face, which might prompt you to assess your requirements. As part of that process, we will help navigate you through the massive array of lenders, product choices and affordability criteria, and, hopefully, protect your credit rating in the process.

Elsewhere, aside from resolving any borrowing needs, do also consider the peace of mind brought about by having suitable protection cover in place, should the unexpected occur.

 The Buy-to-Let landlord may, understandably, feel somewhat unloved at the moment, with tax concerns and even more rules to contend with (the Portfolio Landlord initiative is the latest development). We set out how we can help about deals on offer, and a hand holding role for the increased paperwork.

In 2018 we may see First-Time Buyers accounting for almost half of all house purchases financed by a mortgage.

 We look at some of the key drivers for this sector and where we can help.

  A Relevant Life Plan is a ‘death-in-service’ policy that offers a different type of life cover, and is something for both employers and employees to consider, as it can be tax-efficient, and is more flexible than a registered group scheme.

 We hope you find the issue of interest and, once you’ve had a chance to look through, do pass it onto friends, relatives or work colleagues, if you think it may be relevant to them too - or please email us their details and we we can send them their own copy.

 For expert advice and more information or to book your FREE consultation please visit one of our websites, call or email. 

 Bristol Mortgages Online     www.bristolmortgagesonline.com           Tel 0117 325 1511

Bath Mortgages Online         www.bathmortgagesonline.com             Tel 01225 584 888

Exeter Mortgages Online       www.exetermortgagesonline.com           Tel 01392 690 888

#bristolmortgagesonline

#exetermortgagesonline

#bathmortgagesonline

#mortgageandprotectionnewsletter

 



by C BLAKE-SYMES 31 Dec, 2017

On behalf of all the team at Bristol, Bath and Exeter Mortgages Online, we would like to wish you a Happy New Year!

We would like to take this opportunity to thank all our clients old and new, for their business in 2017. We very much appreciate all the referrals, recommendations and the loyalty that our clients show, many returning to us time and time again, plus all the fantastic reviews we receive are great-thank you again!

We wish you, your family and friends a very Happy and Healthy 2018!!

We are open our normal hours from 8.30 am until 7.30 pm from Tuesday 2nd January.

by C BLAKE-SYMES 20 Dec, 2017

Please note our Opening Hours for the Christmas and New Year period.

We will have basic office cover for the week after Christmas. appointments with Advisers can be booked to take place from January 2nd  2018, when we return to our normal working hours of 8.30am to 7.30pm.

Friday 22nd December                 8.30am - 1pm                                

Saturday 23rd December             Closed                              

Sunday 24th December               Closed                              

Monday 25th December             Closed                              

Tuesday 26th December             Closed                              

Wednesday 27th December       10am – 4pm                                  

Thursday 28th December           10am – 4pm                                  

Friday 29th December                 10am – 4pm                                  

Saturday 30th December             Closed                              

Sunday 31st December               Closed                              

Monday 1st January                     Closed                              

 

We would like to wish all our clients, friends and business partners a very Merry Christmas and a Happy and Healthy New Year.

If you have any queries, please email info@swmortgages.com

                                                           

by C BLAKE-SYMES 16 Dec, 2017
This year, instead of sending Christmas cards, we will be donating to Tallulah’s Just Giving page . So far, Tallulah has raised over £6.400 thanks to the generosity of 141 supporters! Thank you so much for the support and kind words from so many of our clients and friends.
We, have chosen to support this cause as it is very close to our hearts. In May 2017, Phil Clark's, eldest daughter, Tallulah, at the age of 19, was diagnosed with a rare neurological condition called Ataxia type AOA2. Tallulah had been to see numerous specialists since the age of 11 before having this condition diagnosed
What is ataxia?
Ataxia is the name given to a group of neurological disorders that affect balance, coordination, and speech. There are many different types of ataxia that can affect people in different ways.
How to support Tallulah
Despite having to deal with her recent diagnosis and Tallulah has just completed her first term at Sheffield University, Tallulah has set herself an incredible personal challenge of raising £10,000 to help fund research and build awareness of Ataxia.
Please can you click on the link below to donate to the very worthy cause. We will be donating on a regular basis for each completion we finalise and will be organising fund raising events.
Merry Christmas and a Happy 2018
Therefore, on behalf of all the team working for Bristol, Bath and Exeter Mortgages Online we would like to wish all our clients, friends and business partners, a very Merry Christmas and a Happy 2018.
We would be very grateful if you could support Tallulah’s page too by clicking on the link.

Tallulah's £10,000 Challenge for Ataxia Research and Awareness Campaign.

by C BLAKE-SYMES 07 Dec, 2017

Life for Buy to Let Landlords has become increasingly difficult over the past few years. However, at Bristol Mortgages Online and Bath Mortgages Online, we have found that more and more existing and potential landlords are realising the huge benefits of dealing with experienced, knowledgeable fully independent brokers like ourselves. Landlords who own four or more mortgaged buy-to-let properties can expect lenders to look across their whole portfolio if they want to apply for a mortgage on a new property.

Under Prudential Regulation Authority (PRA) rules, from the end of September 2017 lenders will have to take into account all the buy-to-let properties an investment property owner has a mortgage on when deciding whether to lend. This is so they can be certain landlords will be able to afford any new addition borrowing, both now and if interest rates rise in the future.

What impact will this have?

So far, all lenders have confirmed exactly how they are implementing the new rules. Some, however, have indicated that they may no longer offer mortgages to those with larger property portfolios, which could mean mortgage choice becomes more restricted. Those who do continue to lend to portfolio landlords are likely to want to see more information about the portfolio as a whole, including details of rental income, as well as landlords’ overall costs and personal income and tax liabilities, to ensure that landlords aren’t over-exposed.

This means that portfolio landlords may have to produce larger quantities of paperwork to support their mortgage applications, so it’s important to ensure all records are up to date

If you are a portfolio landlord and are planning to remortgage or add to your existing properties, you may want to consider acting sooner rather than later. If you haven’t reviewed your buy-to-let mortgages for a while, it’s therefore worth checking the rates you are on now to see if you might be able to remortgage to a better deal.

Remember other PRA changes

If you are intending to review your portfolio in the next few months, it’s important to take note of other PRA changes which have already come into effect. For example, lenders must apply a ‘stress test’ of a minimum interest rate of 5.5% for the first five years of the loan. However, some lenders apply lower stress tests on five-year fixed rate buy-to-let deals. Because the rate is fixed over this period it won’t be affected by rising interest rates and so avoids the need for a higher stress test. Lenders similarly may adopt a more flexible approach if landlords are remortgaging on a like-for-like basis.

Some lenders may also adopt a less restrictive approach for landlords who are basic rate taxpayers, as tax relief changes introduced in April which restrict the amount of tax relief they can claim only affect higher or additional rate taxpayers.

What we offer

The Directors and Senior Mortgage Advisers at both Bristol Mortgages Online and Bath Mortgages Online, have expert knowledge of a host of specific Buy to Let products for investment mortgages and remortgaging purposes. Many of these lenders are specialists in this sector and will only deal with clients via specialist, independent mortgage brokers like us.

For expert advice and more information or to book your FREE consultation please visit one of our websites, call or email

Bristol Mortgages Online     www.bristolmortgagesonline.com           Tel 0117 325 1511

Bath Mortgages Online         www.bathmortgagesonline.com             Tel 01225 584 888

Exeter Mortgages Online     www.exetermortgagesonline.com           Tel 01392 690 888

 

by C BLAKE-SYMES 22 Nov, 2017

Stamp duty and housing

Stamp duty to be abolished immediately for first-time buyers purchasing properties worth up to £300,000

To help those in London and other expensive areas, the first £300,000 of the cost of a £500,000 purchase by all first-time buyers will be exempt from stamp duty, with the remaining £200,000 incurring 5%.

95% of all first-time buyers will benefit, with 80% not paying stamp duty

Reduction will apply immediately in England, Wales and Northern Ireland although the Welsh government will have to decide whether to continue it when stamp duty is devolved in April 2018

It will not apply in Scotland unless Scottish government decides to follow suit

£44bn in overall government support for housing to meet target of building 300,000 new homes a year by the middle of the next decade

Councils given powers to charge 100% council tax premium on empty properties

Compulsory purchase of land banked by developers for financial reasons

£400m to regenerate housing estates and £1.1bn to unlock strategic sites for development

Review into delays in developments given planning permission being taken forward

For further information regarding Stamp Duty and Land Tax please visit   www.gov.uk/stamp-duty-land-tax

For expert advice and more information or to book your FREE consultation please visit one of our websites, call or email.

Bristol Mortgages Online     www.bristolmortgagesonline.com           Tel 0117 325 1511

Bath Mortgages Online         www.bathmortgagesonline.com             Tel 01225 584 888

Exeter Mortgages Online     www.exetermortgagesonline.com           Tel 01392 690 888

 

by C BLAKE-SYMES 04 Nov, 2017

Most peoples’ mortgage deals are either fixed-rate or variable. A fixed rate deal is for a set period, whereas with a variable rate deal, the interest rate can move at the discretion of their lender.

If you have been on the same mortgage deal for quite a few years now, you’re most likely on a variable rate deal. This means that unfortunately, your rate will increase with today’s base rate rise.

Robert Nichols, CEO of Portico says:

  “Those on variable rate mortgages will see a small increase in their monthly mortgage payments. For example, for the average mortgage in Britain of £175,000, an increase of 0.25% would increase monthly payments by about £22 a month.”

But it’s not all bad news, approximately 70% of people who take out a residential mortgage have done so on a fixed rate basis. These customers will not be instantly affected by the base rate rise from the historical low of 0.25%. But if you’re on a fixed rate mortgage, that doesn’t mean you can just sit back and relax. If your fixed term is soon to run out and you will be looking to get a new fixed-rate deal, the quicker you act the better rate you will secure. Rates are going to continue to rise over the next five years - so I’d advise locking in a low, fixed rate now.

Deals Are Still Close to the Lowest-Ever Levels

If you’re hoping to get on the property ladder, it will come as welcome news that there are still some fantastic products on the market. Please contact Bristol, Bath or Exeter Mortgages Online for a FREE Consultation to discuss your First Time Buyer, Remortgage or Buy to Let mortgage requirements.

Can Landlords Mitigate the Interest Rate Hike?

Landlords are already seeing their profits decrease as a result of recent tax changes and changing legislation, and today’s interest rate increase will simply add on more costs.

Mark Lawrinson, Regional Director at Portico says landlords can mitigate the hit by cutting their interest costs: 

  “Buy-to-let mortgage interest rates have dropped dramatically in recent years, so deals currently on the market will be a lot better than products arranged a few years ago. It’s sensible therefore to shop around and remortgage. That being said, landlords will now have to consider the new PRA rules.”

With large increases in property prices over the last five years, another tip is to get your rental property re-valued. This will make your lender recalculate your LTV, and a lower LTV means a better interest rate and a larger choice of lenders.

We will be delighted to discuss any of your mortgage or protection requirements with you.

For expert advice and more information or to book your FREE consultation please visit one of our websites, call or email.

Bristol Mortgages Online     www.bristolmortgagesonline.com           Tel 0117 325 1511

Bath Mortgages Online         www.bathmortgagesonline.com             Tel 01225 584 888

Exeter Mortgages Online     www.exetermortgagesonline.com           Tel 01392 690 888

 

by C BLAKE-SYMES 27 Oct, 2017

A Lifetime Mortgage is where the provider lends you a percentage of your property’s value in the form of tax-free cash. As with a traditional mortgage you will be charged interest on the loan however, with a Lifetime Mortgage you have the option not to make any monthly repayments (although you can if you want to) and there is no set term or repayment date. If you do decide to make monthly repayments this will typically only cover the interest on the loan however, you will have the flexibility to set up the Lifetime Mortgage to repay all, some, or none of the interest over the life of the plan.

 As with all Lifetime Mortgages, the loan plus interest continues until the plan comes to an end, usually when you pass away or move into long-term care. At this point the property is sold to repay the original sum borrowed, plus any interest that has accrued.

There are a number of different types of Lifetime Mortgages which we will be able to discuss with you and some of the more popular schemes are outlined below.

Lump Sum Lifetime Mortgage Plans

This type of product simply allows you to release all of the equity in one lump sum. Once the equity has been released the interest will start to accrue on the full loan amount.

Drawdown Lifetime Mortgage Plans

A Drawdown plan is similar to the Lump Sum option however you can retain a cash reserve that can be drawn down at some point in the future. Interest is only charged on the total amount you withdraw, and therefore this plan can save you a significant amount compared to a Lump Sum plan.

Enhanced Plans

If you or your partner have any health or lifestyle conditions you may be able to release more money from your home. Over 100 conditions qualify you for a larger cash release from your home including high blood pressure, diabetes, cancer, angina, kidney disease, and dementia. Lifestyle conditions such as a history of smoking or a high/low Body Mass Index (BMI) can also qualify. No medical assessment is necessary, and one of our specialist advisers can find out if you qualify for this type of plan for you.

Protected Plans

If you want to guarantee an inheritance for your family this is now possible with some Lifetime Mortgages. You can choose a fixed amount or a percentage of your home to be left to your beneficiaries when your plan comes to an end. This amount will be guaranteed.

Interest Payment Plans

Interest payment plans allow you to choose how much interest you want to pay and how long you want to pay the interest charged each month (for example, 1 year, 5 years or even up to the lifetime of the loan). The advantage of this option is by paying some (or all) of the interest payments during the plan term, the amount your provider takes at the end will be less, as you have already paid off some (or all) of the interest accrued. Also, if for any reason you are unable to make repayments, this plan can be converted so interest is added as with a standard Lifetime Mortgage. With options such as this it is essential that you seek specialist independent advice and speak to one our advisers to find the best plan for your needs.

Home Reversion Plans

While most customers find that a Lifetime Mortgage suits their needs best, there is another type of Equity Release plan available. A Home Reversion plan allows you to sell part or all of your home to a reversion plan company in exchange for a tax-free cash lump sum.

You can have the right to stay in your home effectively rent-free for as long as you choose which is why you don’t typically receive the full market value for the share of the home you sell.

If you sold half of your property to the reversion company, when the plan comes to an end (usually when you pass away or move into long-term care) then the money raised from the resulting sale of your home would be split equally between the reversion company and your estate.

Some customers choose a Home Reversion plan because the amount of equity you are initially able to release is typically greater than compared to a Lifetime mortgage.

However, in exchange for this greater sum of equity you will have to be comfortable with the fact that:

  • You will no longer own your own home – however you can retain a percentage share
  •  If your house value goes up, then you only benefit from the increase to the percentage you still own (if any)
  •  You will receive less than the market value of your home (whatever percentage you sell)
  • As you are selling part of your home it can be very difficult to end the plan and buy back the percentage you sold, so it’s less flexible than a Lifetime Mortgage

For expert advice and more information or to book your FREE consultation please visit one of our websites, call or email.

Bristol Mortgages Online     www.bristolmortgagesonline.co m         Tel 0117 325 1511

Bath Mortgages Online         www.bathmortgagesonline.com             Tel 01225 584 888

Exeter Mortgages Online     www.exetermortgagesonline.com          Tel 01392 690 888


by C BLAKE-SYMES 23 Oct, 2017

About 10 days ago we announced that we are supporting "Tallulah's £10,000 Challenge for Ataxia Research and Awareness Campaign".  Since then, Tallulah, her family and friends have been overwhelmed with the amount donated and the kind and supportive comments.

As at today’s date (23rd October 2017) 100 supporters have donated nearly £4,800. As a Company, we will be supporting and donating to this great cause on an ongoing basis.

Why is this our chosen Charity?

Bristol, Exeter and Bath Mortgages Online, have chosen to support a cause very close to our hearts. In May 2017, our MD’s eldest daughter, Tallulah, at the age of 19, was diagnosed with a rare neurological condition called Ataxia type AOA2. Tallulah had been to see numerous specialists since the age of 11 before having this condition diagnosed.

What is ataxia?

Ataxia is the name given to a group of neurological disorders that affect balance, coordination, and speech. There are many different types of ataxia that can affect people in different ways.

  Who gets ataxia?

Anyone of any age can get ataxia, but certain types are more common in certain age groups.

  How many people have ataxia?

The ataxias are rare conditions. Estimates from recent studies say that there are at least 10,000 adults and around 500 children in the UK with a progressive ataxia.

  Is there any cure?

Some forms of ataxia are treatable, but in most cases, there is still no cure. We are supporting research and putting all our efforts in trying to get treatments or cures for the ataxias.

  What causes ataxia?

There are many different causes for ataxia. It's important to remember that ataxia is a symptom and may occur as a result of many different underlying conditions.   Many ataxias are inherited conditions and caused by having defects in certain genes.  Research is ongoing to identify other genes which cause inherited cerebellar ataxias and discover how they exert their effects These people would be diagnosed as having idiopathic cerebellar ataxia and there are many researchers focusing on finding new genes and new types of ataxias.

  How to support Tallulah

Despite having to deal with her recent diagnosis and just starting at Sheffield University, Tallulah has set herself an incredible personal challenge of raising £10,000 to help fund research and build awareness of Ataxia.

 Please can you click on the link below to donate to the very worthy cause. We will be donating on a regular basis for each completion we finalise and will be organising fund raising events .

We are asking all our friends, family, clients and business partners to donate so that Tallulah will reach her target of £10,000.

 Please click HERE  to go to Tallulah’s Just Giving fundraising page

 

by C BLAKE-SYMES 13 Oct, 2017

Bristol, Exeter and Bath Mortgages Online, have chosen to support a cause very close to our hearts. In May 2017, our MD’s eldest daughter, Tallulah, at the age of 19, was diagnosed with a rare neurological condition called Ataxia type AOA2. Tallulah had been to see numerous specialists since the age of 11 before  having this condition diagnosed

What is ataxia?

Ataxia is the name given to a group of neurological disorders that affect balance, coordination, and speech. There are many different types of ataxia that can affect people in different ways.

Who gets ataxia?

Anyone of any age can get ataxia, but certain types are more common in certain age groups.

How many people have ataxia?

The ataxias are rare conditions. Estimates from recent studies say that there are at least 10,000 adults and around 500 children in the UK with a progressive ataxia.

Is there any cure?

Some forms of ataxia are treatable, but in most cases, there is still no cure. We are supporting research and putting all our efforts in trying to get treatments or cures for the ataxias.

What causes ataxia?

There are many different causes for ataxia. It's important to remember that ataxia is a symptom and may occur as a result of many different underlying conditions.   Many ataxias are inherited conditions and caused by having defects in certain genes.  Research is ongoing to identify other genes which cause inherited cerebellar ataxias and discover how they exert their effects These people would be diagnosed as having idiopathic cerebellar ataxia and there are many researchers focusing on finding new genes and new types of ataxias.

How to support Tallulah

Despite having to deal with her recent diagnosis and just starting at Sheffield University, Tallulah has set herself an incredible personal challenge of raising £10,000 to help fund research and build awareness of Ataxia.

 Please can you click on the link below to donate to the very worthy cause. We will be donating on a regular basis for each completion we finalise and will be organising fund raising events .

We are asking all our friends, family, clients and business partners to donate so that Tallulah will reach her target of £10,000.

 Please click HERE on the link below to go to Tallulah’s Just Giving fundraising page

 

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