Darren Hunter - Hunter Wealth Mortgages

Once again, the Bank of England has maintained the base rate at 5.25%.

Following such decisions, interest rates on mortgages tied to the Bank of England base rate typically remain constant.

But, changes are frequent among lenders, particularly for fixed and variable mortgages, if you've been delaying addressing your mortgage, now is an opportune moment to initiate the process.📱

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS

Good news from the Scottish Government this morning‼

The LIFT Scheme is now back open for applicants after being closed since November!

This scheme is great to help you get on the property ladder if you need a little extra assistance!

There is even one lender who deals with this scheme where you are not required to have ANY DEPOSIT YOURSELF, subject to criteria.

The Scottish Government contributes between 10% and 40% of the valuation or purchase price (whichever is lower) of a home you have chosen on the open market.

When it is sold, the same percentage of the sale price is returned to the Scottish Government; or you can increase your equity share when it suits you to do so throughout the mortgage term.😃

Does this interest you or do you know anyone who will be - feel free to tag and we will reach out to them.

Contact one of our friendly, expert advisers today to discuss your options📲

Liam Fontaine - Hunter Wealth Mortgages

Call now to connect with business.

Good news this morning with the announcement of inflation hitting its 2% target !

Liam Fontaine - Hunter Wealth Mortgages

Any school leavers looking for apprenticeships - see below ⬇️

Just left school, aged 16-19 and looking for an apprenticeship? We’ve got 10! Still time to apply for posts as apprentice joiners, builders, plumbers, electricians and painters. We need two of each. The closing date is 26 June.
Apply: https://ow.ly/cme550SbSmS

Good news with rate reductions announced from NatWest for new business customers from Thursday.

Liam Fontaine - Hunter Wealth Mortgages

Thinking of buying your first home?

Is your current deal ending within the next 6 months and time to remortgage?

Thinking about scaling up or downsizing?

Looking for Protection advice?

Give our expert team a message to see how we can help you today with totally independent advice 🏡📲

0131 229 0608 | 07939002915 | [email protected] - [email protected]

Liam Fontaine - Hunter Wealth Mortgages

Found your dream home but you're in a fixed rate already?! 😬

That may not be a barrier to making your dream happen, there are options such as porting!

Even if you're in a fixed rate deal currently, you could take that one with you to your new home, and run a second mortgage alongside it to top up the difference 😯

This means you'd have two mortgages running alongside each other, but we would closely match up the terms so they remortgage within the same time frame so that you can switch to a new whole one at a later date

So if you're happy with your current mortgage deal, but you also want to move, let's talk 📱

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS

We'll leave the house shopping to you, but let us help sort your mortgage for your new home 🤩

Whatever your new home looks like we'll tailor our advice and your mortgage search to you

Whether you're looking locally or farther afield we've got you covered 🗺️

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS

1 in 4 young homeowners opted for a mortgage term of 35 years or over between January and March 2023

But is a marathon long mortgage worth it? Should you choose the longer term?

Longer-term mortgages could come with lower monthly payments since the repayment amount is spread across an extended timeframe. However, it's important to note that this means you could end up paying more in total because the interest accumulates over a more extended period.

On the other hand, shorter-term mortgages involve higher monthly repayments, but this approach enables you to pay off the principal balance more quickly. Consequently, you'll achieve full homeownership sooner.

When it comes to applying for your mortgage, you'll be able to set the term, the most common terms are 25, 30, or even 35. However recently a High Street lender has introduced a 40 year term to reduce monthly payments even further 💷

We'll be able to talk you through your options and show you what they'd mean for your budget ☺️

Source: https://buff.ly/45dX5IA

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS

Great result from Halifax today.

Applied for a London based home mover, applied underwritten and offer produced in a total of 25 minutes!

Delighted client, delighted brokers.

Reach out to us today for any mortgage queries!

0131 229 0608

[email protected]

[email protected]

Have you hit a stumbling block trying to obtain a mortgage yourself as a First Time Buyer?🏡

Time to remortgage?⏰

Are you looking to raise additional funds?💷

If this is you, It’s time to speak to the experts!

With access to whole of the market, we at HWM will be happy to assist you obtaining the most suitable deal tailored to your individual circumstances.

Reach out to us today to see how we can help!

0131 229 0608

[email protected]
[email protected]

Several factors influence the interest rate you'll be offered on a mortgage.

🏪 Market factors:

👉🏼 The interest rate set by the Bank of England affects mortgage rates. When these rates go up, mortgage rates tend to follow, and vice versa.
👉🏼 Inflation: The Bank of England considers inflation when setting interest rates. If inflation is projected to rise, they typically increase interest rates to mitigate its effects, and vice versa. Consequently, inflation strongly influences mortgage rates. One strategy to mitigate this impact is opting for a fixed rate instead of a tracker rate.
👉🏼 When demand surges, mortgage rates typically follow suit. This is because although more individuals have greater purchasing power, lenders have limited funds available. Consequently, interest rates impact housing prices, leading to an uptick in property values during such economic upswings.

🫵🏼 Your financial situation:

💳 Credit score: A higher credit score indicates you're a reliable borrower, and lenders reward this with a lower interest rate.
💷 Deposit: A larger deposit (as a percentage of the property value) reduces the lender's risk and typically qualifies you for a better interest rate.
％ Debt-to-income ratio (DTI): This ratio shows how much debt you have compared to your income. A lower DTI makes you a more attractive borrower and can lead to a lower interest rate.
📃 Loan type: Fixed-rate mortgages typically have higher interest rates than adjustable-rate mortgages (ARMs) because they offer stability throughout the loan term.
📆 Loan term: Shorter loan terms (e.g., 15 years) generally come with lower interest rates than longer terms (e.g., 30 years).

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS

Remortgaging with irregular income can be trickier than with a regular salary, but it's not impossible. Here's what you need to know:

👉🏼 Affordability assessment: Lenders typically base affordability on stable income. They might struggle to assess your ability to repay the loan with an irregular income stream.

Tips for success:

🥇 Be prepared: Gather strong documentation. This could include:
▶️ Tax returns: At least two years of tax returns are standard, highlighting your average income.
▶️ Bank statements: Several months of bank statements showing your income flow and financial stability.
▶️ Profit and loss statements (if self-employed): Proof of your income and business health.
▶️ Consider specialist lenders: Some lenders specialise in mortgages for self-employed or those with irregular income. They may have a different approach to an affordability assessment.
▶️ Highlight consistent income patterns: If your income has a seasonal pattern, emphasise predictable peaks.
▶️ Strong credit score: A good credit score demonstrates responsible borrowing habits and can improve your chances of approval.

Overall, with some planning and the right approach, you can remortgage with irregular income, be prepared to provide detailed financial documentation and talk to a mortgage broker who can guide you towards lenders comfortable with your situation.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS

There are different types of life insurance policies, and the most common options for couples are joint life insurance policies and individual life insurance policies.

🫱🏼‍🫲🏽Joint Life Insurance Policy: With a joint life insurance policy, both you and your partner are covered under the same policy. The policy pays out a death benefit upon the first death, and the coverage ends at that point. It can be more affordable than two separate individual policies, but keep in mind that once the policy pays out, the surviving partner will no longer have coverage.

🧍🏻‍♀️Individual Life Insurance Policies: Alternatively, you and your partner can each get separate individual life insurance policies. These policies provide coverage for each person individually. If one partner passes away, the other policy remains unaffected and continues to provide coverage.

When considering life insurance options, it's essential to assess your specific needs and financial situation. Factors like your age, health, income, dependents, and long-term financial goals can all play a role in determining the right type and amount of life insurance coverage for you and your partner.

Our Top 5 Reasons to use a Mortgage Advisor 👇🏼

1️⃣ The top reason has to be the time it could save you, time saved on searching the market, comparing, doing the paperwork and organising, all done for you by a mortgage advisor

2️⃣ Access to multiple lenders, more than your bank could offer, and more than you could access by yourself! Access to more deals means you could save more, or find one suitable for your needs

3️⃣ Tailored advice for you, rather than inputting your information online, allows a human to understand your needs and tailor their search on your behalf, with the added benefit of access to specialist lenders

4️⃣ Expertise, been there, done that and got the t-shirt, your mortgage advisor will know what each lender would be looking for, will know the application process like the back of their hand, and will be able to apply their knowledge to your case the whole journey

5️⃣ Continued support, even after you're all set to go with your mortgage, your advisor will check in regularly, and be there for any questions the whole journey, not to mention being available for any remortgages and house moves in the future

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS

Move over Tinder and Bumble, we're the real matchmakers here 💅🏻

We're the ones who can match you with the right mortgage for your needs and circumstances 🥳

With access to multiple lenders and a variety of mortgages we're sure to find a match for you 🖤

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS

Your rental payments being on time and in full for 12 months could help you secure a mortgage 🤩

To help renters become homeowners one lender has a track record mortgage, for those currently renting and have been for at least 12 months, and haven't missed any rent payments. You must also have experience of paying all household bills for at least the last 12 months and not missed any payments. All applicants need to be First Time Buyers, over the age of 21, and not looking to buy a new build flat.

Want to know more? Get in touch with us 📱

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS

Today is International Women's Health Day

Did you know the average age for cervical and ovarian cancer diagnosis is 44?

It's crucial to prioritise regular check-ups and screenings to catch any health concerns early. 💪

Don't forget about the importance of protecting yourself and your loved ones with critical illness cover for if the worst does happen 🛡️

Source: https://buff.ly/4bHRMVI

Great service by Barclays and their senior underwriters.

£2m+ residential loan size and fully underwritten within 2 days!

Looking to shorten your mortgage term? It's possible, but it requires careful consideration. 💭

Lenders generally prefer it when you pay off your mortgage sooner, but approval isn't guaranteed. 📉 Here's what you can do to improve your chances:

- Demonstrate that you can handle the higher monthly payments that come with a shorter term, especially with a repayment mortgage.
- If you have an interest-only mortgage, show that you can clear the mortgage balance by the end of the shortened term.

While paying off your mortgage quicker sounds appealing, make sure you can comfortably manage the increased payments in the long run. 💼

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS

TSB following other lenders yesterday with rate reductions of up to 0.40% from tomorrow!

If you're currently undergoing renovations such as an extension or conversion, you'll need to inform the lender what you're doing so that they can either visit to value your home, or amend their current valuation.

Adding extra room in your home can add value, and whilst it won't reduce what you owe, it can increase your equity, as it can increase the value of your home 🏠

Many lenders stipulate when they need to be informed of changes to the property, even if you're not remortgaging, so it's worth checking your t's and c's 🤨

Overall, you can remortgage if renovations are still going on, but in some cases, you may wish to wait until they're complete. Check in with us and we'll be able to advise 📱

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS

Good news!📰

Halifax have announced from Friday 24th, they are reducing selected rates by up to 0.19%!

Rate reduction news 📰

Leeds, Santander and now Coventry announcing rate reductions this week!

Inflation continues to reduce with it now at 2.3%.

Hopefully we see a positive reaction in the markets over the next few weeks

✅ Pros:

1️⃣ Stability: Opting for a fixed-rate mortgage provides borrowers with reassurance that their monthly payments will remain consistent throughout the agreed-upon fixed term, e.g 2 or 5 years. This stability offers peace of mind, especially amid economic uncertainties.

2️⃣ Predictable Budgeting: Fixed-rate mortgages simplify budgeting by allowing borrowers to accurately forecast their monthly expenses. This predictability empowers homeowners to manage their finances more efficiently and avoid unexpected fluctuations in mortgage payments.

3️⃣ Shield from Rate Increases: Unlike variable-rate mortgages, where interest rates can vary based on market conditions, fixed-rate mortgages shield borrowers from potential rate hikes. This protection proves invaluable during periods of rising interest rates, ensuring steady payments without sudden increases.

❌ Cons:

1️⃣ Additional Fees: While fixed-rate mortgages provide stability, they may entail extra charges or fees compared to other mortgage options. These additional costs, such as arrangement fees, valuation fees, and early repayment charges, can inflate the overall mortgage expenses.

2️⃣ Limited Flexibility: Fixed-rate mortgages can restrict flexibility when it comes to moving or altering mortgage terms during the fixed-rate period. This lack of flexibility may lead to penalties or added fees if borrowers need to modify their mortgage or switch to a different product before the fixed term concludes.

3️⃣ Overpayment Restrictions: Certain fixed-rate mortgages impose limitations on the amount borrowers can overpay annually without facing penalties. This constraint may pose a challenge for homeowners aiming to expedite mortgage repayment or make substantial payments to reduce interest costs over time.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS

🌟 Join Our Team! 🌟

Are you a self-employed mortgage advisor looking for a new opportunity? Look no further! We're hiring and we want YOU to join our team!

✅ Self-employed hybrid role available
✅ Enjoy the support of a great team and positive work culture
✅ Admin support and leads provided
✅ Minimum 2 years of experience required

If you're ready to take your career to the next level, contact us today at 0131 229 0608 or 0793 900 2915, or email [email protected]

To use the LISA for a deposit, you must have held the account for at least 12 months. This means you'll need to plan ahead and start contributing to the LISA well in advance of your planned property purchase.

Your savings will remain in your account until they’re needed by the conveyancer handling your purchase. So, when the time comes:

👉🏼Pass on a completed Investor Declaration Form to your conveyancer
👉🏼 They will then complete their Conveyancer Declaration Form and send it to your lender
👉🏼 They'll then email you a confirmation form for you to sign and return to your lender, which will approve the release of your funds to your conveyancer
👉🏼 Once your lender has received all of the above documents they'll release the funds to your conveyancer, which can take up to 30 days
👉🏼 Your conveyancer then has 90 days to complete the purchase on your behalf.

If the conveyancer finds they need more than 90 days they can ask for an extension. If the sale doesn’t go ahead they must return the money to your lender to put back into your Lifetime ISA. If the money is not returned (unless an extension has been agreed), the government withdrawal charge of 25% of the amount withdrawn will apply.

If you’re using the Shared Ownership scheme, your Lifetime ISA can be used towards the deposit when you buy your initial share, but it can’t be used without paying the government withdrawal charge to buy any further shares in future.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS