FINANCE Non- Standard Mortgages • Equity Release for Homeowners
The Clubs financial advisors have access to the latest equity release products which include schemes where you have the option to roll up the monthly interest or make monthly payments of some or all of the interest. Some lenders now offer the facility to make penalty free partial overpayments of capital.
Best Buys Initial Rate 1.14%
1.39% 1.39%
1.544%
Some companies also provide a retirement interest only mortgage option which is particularly popular with clients over 55 who currently have an interest only mortgage on their home and have been advised by their existing lender that the mortgage term is about to end.
Common reasons for raising funds:
• Buy a second or holiday home • Help a family member to buy property • Home or garden improvements • Repay existing outstanding mortgage
Equity Release • Impartial Advice
Description 2 Year Fix
Flexible 2 Year Tracker 2 Year Fix, Offset 5 Year Fix
Brexit Beater
With the direction of the next move in the Bank of England base rate being difficult to call why not ‘hedge your bets’ with a market leading two year tracker product without redemption penalties. If rates go down you will make a saving, if rates go up you have maximum flexibility.
No Meetings and
No Form Filling The media has recently highlighted the delays and time consuming meetings clients are experiencing in order to prove affordability to obtain a high street mortgage. Two hour meetings where bank statements and spending habits are scrutinised are often the norm. We are able to arrange mortgages without the need for meetings thus saving time and money.
Subsequent Rate
4.24% 4.19% 4.74% 4.24%
Overall Cost
for Comparison (APR) 3.70% 3.80% 4.30% 3.10%
Early Repayment Charge
2% Year 1, 1% Year 2 None
2% Year 1, 1% Year 2 5% Year 1, reducing to 1% Year 5
Interest Only Traditionally, many clients have favoured an interest only arrangement where the regular monthly payments can be kept to a minimum and the capital can be repaid from lump sums or when the property is sold. Following the credit crunch many of these options were withdrawn, we are pleased to say we now have some excellent interest only products available.
Large Loan Specialists Many lenders have tightened their criteria and borrowers are now finding their existing lenders either unable to assist them or their rates are uncompetitive, especially for loans over £1,000,000. We have a number of mainstream and specialist lenders who are comfortable with large loans at very competitive rates.
Moving House With the election and Brexit uncertainty due to end shortly this should allow the property market to get back to normal as confidence returns to the market. We are happy to assess your borrowing capacity and advise as to the maximum amount you are likely to be able to borrow and highlight the likely costs.
Maximum Loan
£5m
£10m £2m £5m
Fee
£995 £995 £999 £995
If you would like to find out more and speak with our personal Financial Advisor, please call the Club on 01795 844939.
The Listed Property Owners’ Club has enjoyed a long standing relationship with few small, specialist, service orientated independent mortgage brokers. They specialise in arranging mortgages for our members and have often been able to save many owners hundreds of pounds per month in mortgage payments. Their advice is always provided in the form of a report, which is initially ‘free and without obligation.’
Depending on your circumstances the mortgage brokers may charge a fee, for example for a mortgage of £250,000 their fee would be £500. All mortgages are subject to a full application, credit search, assessment of your personal financial situation and a valuation of all properties involved. Your home may be repossessed if you do not keep up with payments on your mortgage.
34 Listed Heritage Magazine January/February 2020
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126 |
Page 127 |
Page 128 |
Page 129 |
Page 130 |
Page 131 |
Page 132 |
Page 133 |
Page 134 |
Page 135 |
Page 136 |
Page 137 |
Page 138 |
Page 139 |
Page 140 |
Page 141 |
Page 142 |
Page 143 |
Page 144 |
Page 145 |
Page 146 |
Page 147 |
Page 148 |
Page 149 |
Page 150 |
Page 151 |
Page 152 |
Page 153 |
Page 154 |
Page 155 |
Page 156 |
Page 157 |
Page 158 |
Page 159 |
Page 160 |
Page 161 |
Page 162 |
Page 163 |
Page 164 |
Page 165 |
Page 166 |
Page 167 |
Page 168 |
Page 169 |
Page 170 |
Page 171 |
Page 172 |
Page 173 |
Page 174 |
Page 175 |
Page 176 |
Page 177 |
Page 178 |
Page 179 |
Page 180
