Times have certainly changed as statistics now show that record breaking mortgages are being taken out by Britain’s first time buyers in their attempts to own their first home. Traditionally, first time buyers have always borrowed for 25 years but because of ‘sky high’ housing prices they are now being forced to borrow over a […]
2013 Was a Good Year For Mortgage Approvals
According to the Bank of England there was a rise in mortgage applications being accepted for ‘First Time Buyers’ in 2013. This is a sign that confidence within the banking sector has increased and that lending is ‘on the up’. Statistics show that the number of mortgage applications increased by 20% in 2013 compared to […]
A ‘Real Sucker’ Punch For Buy to Let Landlords
There has been a ‘big stir’ recently within the industry after mortgage lenders have increased the interest rates on tracker mortgages, thanks to hidden clauses in their terms and conditions. These changes have severely angered ‘Buy-to-Let’ landlords who are now seeking legal advice to see whether or not the lenders can implement such changes. These […]
Mortgage Advisers Can Help You Save Money
Borrowers can now research themselves for suitable mortgage lenders and what lenders charge, but what they can miss out is the hidden charges and costs that some lenders charge. Gary Harper of AFP Partnership says “mortgage advisers can work better deals for clients than look at interest rates, fees and other costs which lenders charge. […]
Looking for a Buy to Let Mortgage?
If you are looking for a Buy to Let mortgage please contact AFP Partnership, mortgage advisers located in Shrewsbury, as we can help with: * No age limits ( most lenders only allow borrowers up to age 75) * 125% Interest coverage calculated at pay rate of 3.99% ( most lenders insist on rental needs […]
Interest Rates Could Double This Year
City forecasters have revised their predictions as to when rates are likely to rise, would these rates affect your finances? The Centre for Economic Business Research expects the Bank of England rate to rise from 0.5 to 1 % in the final quarter of 2014. Others such as Citi have predicted they will rise to […]
Information on Help to Buy Mortgage Guarantee Schemes
Here is some important information on Help to Buy Mortgage Guarantee schemes, which is being provided by the HM Government. What is Help to Buy Mortgage Guarantee? Many credit-worthy people are finding it difficult to get a mortgage today because of the large deposits needed following the financial crisis. To help address this, the Government […]
When Is The Time Right to Buy Your First Home?
First time buyers today are typically faced with many obstacles in taking their first steps onto the property ladder. Buying your first house is not only a big commitment but it can be very expensive as there are many associated fees to purchasing a home. Typically, first time buyers face the challenge of funding the […]
January 2014 Time to Review Your Finances and Save Money Today
It’s the New Year, which means it’s the perfect time to review your finances and if you are a homeowner it could mean that you could save up to £5000 by reviewing your financial policies and loans. Whilst incomes for many have increased little or not at all there has never been a better time […]
Mortgage Accepted in One Day
This particular customer (Mr L) had spent 2 weeks talking to a lender regarding his mortgage application but in the end they let him down. He was then referred to AFP Mortgage Advisers and we sent his documents explaining that he needed a quick mortgage or would lose the property he wished to buy. His […]