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Archive for the ‘Mortgage Rates, News and Information’ Category

Estate Agents in Harpenden and Barnet, Hertfordshire

Friday, October 30th, 2009

There are many estate agents in Harpenden and Barnet some of which offer mortgages and financial advice as well as property services. You do not have to use the in house mortgage adviser when purchasing a property through an estate agent. Some agents will offer independent financial advisers, but some will offer tied agents who don’t have access to all the available mortgage providers, lenders or insurance companies.

The best estate agents may not offer the best financial advice or at least independent financial advice. It is worth shopping around for a financial adviser that can meet all your needs when purchasing a property. You should not only consider the funding for the property, normally a mortgage but also the associated insurances that are designed to protect you, your family and your new property.

Lyndhurst have offices in Harpenden and Barnet, Hertfordshire and our experienced independent mortgage brokers have access to mortgage rates and products across the board. They will advise you of the correct mortgage to meet your individual circumstances. Their experience and knowledge of online systems will also get you that mortgage deal as quickly as possible.

If you have visited your estate agent and they have quoted for your mortgage and insurance you can always get a second opinion from us. It’s possible that we are more flexible on our fees and can obtain cheaper comparative insurance or mortgages.

If you need any help in buying and protecting your dream home give us a call 0800 435648 or send us an email admin@lyndhurstfm.co.uk.

FSA to announce new mortgage regulations

Monday, October 19th, 2009

Borrowers face a mortgage affordability test from lenders amid plans by the Financial Services Authority to step up the regulation of home loans.

Self-certification mortgages will be banned under the proposals with lenders required to verify borrowers’ incomes.

FSA chief executive Hector Sants said that some people who got home loans in the boom would no longer be able to do so under the proposed new rules.

The mortgage industry has until 31/01/10 to comment on the announcement. RSS feed the www.lyndhurstfm.co.uk blog page for more updates.

Nationwide to offer first-time buyer incentive

Friday, October 16th, 2009

Nationwide Building Society is to launch a number of initiatives and rate cuts aimed at helping first-time buyers and customers looking to move to their next property.

The lender revealed that it will offer first-time buyers two new options designed to make it easier and cheaper for them to borrow by reducing the amount they pay upfront to secure a deal.  First time buyers can choose between a bigger discount on the reservation fee, changing from £250 to £500, or; a £250 reservation fee discount plus free legal fees.

The Society is also extending this offer to cover two additional products, the four and five-year fixed rate, therefore allowing these borrowers to choose between fixing their rate over three, four or five years or taking a tracker product over three years. 

Andy McQueen, mortgage director at Nationwide, said the combination of rate cuts, and special fee offers would help first-time buyers and seasoned home owners.

“We are reducing the amount that they need to pay upfront and so hope we have removed a barrier which may have prevented people from buying a home.”
 
“Existing Nationwide borrowers at the end of their deal will also benefit from fee and rate cuts, as well as continuing to benefit from one flat rate available up to 95% LTV on many products.”

Article Source Mortgage Solutions | 15 Oct 2009 | 15:59

 

New Mortgage Deals for First Time Buyers! 85% LTV

Thursday, September 24th, 2009

Abbey have given us details of a fantastic new purchase package exclusively available to mortgage brokers. Abbey’s new Homebuyer Plus Mortgage offers you a free valuation for mortgage purposes and standard legal fees paid for the purchase of your new home. To benefit from this product, you must be buying in England and Wales and use one of Abbey’s panel conveyancers.

There will be a number of products available with this package including an 85% LTV, 5.99% 3 Year Fixed Rate with a £995 fee.

For more information about this product launch contact me on 01582 715777, nickmann@lyndhurstfm.co.uk.

Nick Mann - Independent Mortgage Adviser and Financial Adviser.

I am happy to visit you in Harpenden, St Albans, Luton, Milton Keynes, Welwyn Garden City, Hertford and surrounding areas.

First Time Buyer Guide

Wednesday, September 16th, 2009

You’re looking to get on the housing ladder but are unsure of the process or costs involved? Some questions you might be asking yourself if you do not have the guidance of someone with experience are below.

·         How much can I borrow?

·         How much deposit do I need?

·         What is stamp duty?

·         What does a solicitor charge?

·         When do I make an offer?

·         Should I have insurance and what type?

·         What does “exchange” mean?

·         What is “completion”?

·         When do I move in?

Lyndhurst Financial Management Ltd currently have 3 qualified independent mortgage advisers spread over 2 offices in Harpenden and Barnet. Our advisers can help you with all these questions and guide you through the purchase of your first home. In that case the first question should be;

When do I contact a mortgage adviser?

If you are unsure of the amount of deposit you require or the amount you are able to borrow then you should find this out before setting your heart on a property which may be out of reach. The best way to find out would be to let a mortgage adviser search the range of deals currently available and give you a good indication of the price range of property’s you can afford. This way when you see the property you desire you can make an appropriate and confident offer.

If you have any questions about buying a property speak to one of our mortgage advisers now. Our first consultation is always free and we would be happy to point you in the right direction.

www.lyndhurstfm.co.uk/contact.html

Coventry Launch First Time Buyers Mortgage to Loyal Members, 90% LTV.

Monday, September 14th, 2009

New Product - First Time Buyer Members’ Mortgage

On Tuesday 15 September, Coventry are launching a new low deposit mortgage product, designed to help their loyal members and their children buy their first home.

 

Coventry
Building Society

Current rate

Max
LTV

Fees and incentives

ERC

FTM01 - First Time Buyer
5.99% Fixed to 30.09.14

5.99%

90%

Booking Fee: £199
Arrangement Fee: NONE
FREE Valuation
£500 IKEA Gift Card issued on completion

Yes

 

The product is available to first time buyers:

  • who have held a Coventry savings or current account for the last 3 consecutive years, or,
  • whose parent/guardian has held a Coventry mortgage, savings or current account for the last 3 consecutive years.

Booking and Valuation fees (where applicable) are payable on application and are non-refundable. Until these fees are received, your application will not be processed, the rate is not reserved and a valuation will not be instructed. Fees are payable by Debit/Credit card or cheque.

“This is the first decent 90% LTV deal to come out, hopefully others will follow without the loyalty restriction. Watch this space or contact us to join our mortgage register”

 

Nick Mann - Independent Financial Adviser and Mortgage Broker - Harpenden

Mortgage Stamp Duty Freeze expires 31/12/2009 – First Time Buyers Beware

Friday, September 4th, 2009

The Government’s mortgage stimulus package to aid first time buyers by extending the 0% rate for stamp duty to purchases up to £175,000 will expire at the end of the year. After this time it will revert back to purchases up to £125,000. This means a potential saving of £1,750 could be lost after this date if you are buying a house for £175,000 or £1,300 if you are buying a house for £130,000.

Research by the Abbey has shown that the average house purchase is taking up to 3 months. Using this information one could assume that the real deadline should be 30/09/09 for new purchases. If you are looking to purchase a property in this price bracket in the next few months it may be worth bringing this forward.

We have identified our clients who are looking at houses in this price bracket and added them to our watch list to do everything in our power to complete within this deadline.

If you would like us to handle your mortgage arrangements and minimise delays please contact us.

Abbey Flexible Mortgage

Tuesday, August 25th, 2009

There is a new mortgage deal entering the market from Abbey. Its a 3.75% tracker with no early repayment charges. If you require further information about this deal then please contact me.

Ilker Kilicaslan - Independent Mortgage Adviser - Barnet

Self Certification Mortgages Are Back!

Tuesday, August 18th, 2009

For the last 4 months a self cert mortgage deal has not been available in the market. However times are changing and the Mortgage Works part of the Nationwide Building Society have recently released some new deals for self employed individuals who may find it difficult to evidence income.

The Mortgage Works Deal

Self Certification Mortgage - Purchase / Remortgage / Further advance - 2 Year Fixed - initial rate 6.24% - followed by The Mortgage Works Managed Rate currently 4.69%. Maximum loan to value is 65%.

For full details call me now on 0208 447 5592.

Ilker Kilicaslan
Mortgage Adviser - Barnet - Hertfordshire

Better mortgage deals on the horizon!

Tuesday, August 11th, 2009

Coventry Building Society released news of a new deal for first time buyers 5.99% Fixed for 5 years with a Loan to Value of 85% .

“Coupled with revised predictions about house prices this could pave the way for more lenders to offer higher maximum loan to value deals, opening the door once again for first time buyers with a 15% deposit.” Nick Mann - Lyndhurst Mortgage Specialist.