Harry Stafford - Stafford Financial Services

First Time Buyers - this is for you.

Getting a deposit together can be hard, especially with high property values. Lenders are always trying to find ways to support first time buyers get on the property ladder.

Accord’s £5k deposit mortgage could provide the solution for you.

Below are the key points:
- Minimum deposit £5,000
- Deposit can be from own savings or gifted from family
- Property price range: £100,001 to £500,000
- 5 year fixed rate product at 6.39%*
- Enhanced credit score required
- Non-new build houses only, no flats or new builds
- Up to 4.49 times income multiples
- At least one applicant needs to be a first time buyer and no other properties owned upon completion

Get in touch to see if this works for you:

07799 086213
[email protected]

*6.39% 5 year fixed product correct as at 17/06/2024. Rates are always subject to change and are not secured until a full mortgage application is submitted.

⭐ ⭐ ⭐ ⭐ ⭐
Some reviews as of late. So nice to receive this feedback after working so hard for my clients 😁

🏡 Are you ready to take control of your mortgage and save thousands in interest? 💰

🔍 Let's talk about the power of shortening your mortgage term. Many homeowners don't realize just how much they could save by reducing the length of their mortgage.

📉 By shortening your mortgage term, you can significantly decrease the amount of interest you pay over the life of your loan.

💸 Plus, you'll be able to pay off your balance much quicker, putting you on the fast track to financial freedom!

✨ Imagine the peace of mind knowing that you're building equity in your home at a faster rate and freeing yourself from debt sooner. It's not just about saving money – it's about gaining financial independence and achieving your goals.

💡 Whether you're looking to refinance or purchase a new property, let's explore your options together. As your trusted mortgage broker, I'm here to help you make informed decisions and save you money in the long run.

📲 Drop me a message or give me a call to learn more about how shortening your mortgage term can benefit you. Your future self will thank you!

07799 086213
[email protected]
https://www.staffordfs.co.uk/

Should you get on the property ladder now?

Seems to be a question on the back of a few people's mind at the moment. With interest rates fluctuating daily, the cost of living still high and property prices still inflated, it may seem like to some waiting for a better moment is the right thing to do.

But what is the right moment?

There are so many external factors that'll affect you when buying a home that you cannot control. A property purchase is a long term investment, so why would you let short term influences affect your decision which could make you miss on an opportunity?

Below are some of the positives on getting on the property ladder as soon as you can:

1️⃣ Financial Security: Investing in property offers stability and a valuable asset that can appreciate over time, providing a strong foundation for your financial future.

2️⃣ Building Equity: Instead of paying rent with no return, homeownership allows you to build equity with each mortgage payment, creating long-term wealth.

3️⃣ Freedom and Stability: Owning your own home provides a sense of stability and the freedom to personalize your space without landlord restrictions.

4️⃣ Potential for Growth: Property values tend to increase over time, offering the potential for significant returns on your investment when it comes time to sell.

5️⃣ Stability for Your Family: A home provides stability for you and your loved ones, offering a sense of belonging and the opportunity to create lasting memories in a space you can call your own.

6️⃣ Pride of Ownership: There's something special about owning a home. It's not just a place to live; it's a reflection of your hard work and achievements, instilling a sense of pride and accomplishment.

I help a wide variety of people from first time buyers, home movers to landlords. Want to talk through your situation and what's best for you to do? Get in touch:

Mobile: 07799 086213
Email: [email protected]

Wanting to know what key areas make a successful mortgage application?

Below are the key areas you should focus on:

Credit History: Maintain a healthy credit score by managing commitments responsibly. Check your credit score regularly.

Deposit: The larger deposit you have, the better the lending terms may become and the more options you may have.

Income: Lenders assess your income in different ways, make sure you find the best lender to assess your income.

Commitments & Expenditure: Having large commitments and outgoings affects the affordability and can reduce your mortgage borrowing.

Property: The type of property you’re looking to buy may not be suitable for mortgage lenders. Ask key questions when viewing & conduct in-depth surveys before you’re legally committed to buy.

Want help with the above? Get in touch:

07799 086213
[email protected]

🏡✨ Planning to make your homeownership dreams a reality in the New Year? 🌟 As a trusted mortgage broker, I'm here to guide you through the process and help you make informed decisions. Here's why NOW is the perfect time to reach out:

1️⃣ Understand Your Lending Options: Knowledge is power! By checking in now, you get a clear understanding of the lending options available. Let's tailor a plan that suits your unique needs and financial goals.

2️⃣ Better Your Situation: Proactive planning can significantly improve your financial standing. We'll explore ways to optimize your situation, making your dream home more attainable than ever.

3️⃣ Breakdown of Costs: Ever wondered about the nitty-gritty costs of buying a home? I'll provide a detailed breakdown, ensuring transparency and helping you budget effectively.

4️⃣ No Impact on Credit Score: Worried about your credit score taking a hit? Rest easy! Checking your options with me won't affect your credit score, giving you the freedom to explore without any concerns. Lenders typically use Experian, Equifax & TransUnion for their credit searches. You can obtain your credit reports from all three agencies through Check My File. Find out more here:

https://www.checkmyfile.partners/91XPZZS/2CTPL/

5️⃣ Position Yourself Strong: Knowing your borrowing options early on puts you in a strong position. Imagine walking into that dream home viewing already armed with the knowledge you need to make a compelling offer. Stand out from the crowd and make a lasting impression!

🔑 Let's make your homeownership journey seamless and stress-free. Think of me as your go-to advisor, a friend in the mortgage world. 🤝✨

Ready to take the first step? Message me today to schedule a consultation. Your dream home awaits! 🏡🔑

07799 086213
[email protected]

Object moved

Brokers - call your landlords.

Landlords - call your brokers.

Spoken to a few landlords who haven't been keeping on top of mortgage rates and their portfolio is suffering for it.

Now more than ever, the right advice is needed for long-term sustainability of a successful property portfolio.

A good broker can educate you and keeps on top of mortgage rates for you - one less stress to worry about in this world!

🏠🗝️ Ready to Own Your Dream Home? Discover the Stafford Financial Difference! 🌟

🌐 With over 8 years of expert experience, Stafford Financial Services is your unwavering partner in the journey to homeownership.

💼 We take pride in personalized solutions tailored to your unique needs. Your dreams drive us, and we're committed to turning them into reality.

🌈 Navigating the complexities of mortgages? Our guidance transforms confusion into clarity, empowering you with knowledge at every step.

💬 Don't settle for ordinary – experience the extraordinary service that defines Stafford Financial. Your dream home awaits, and we're here to make it happen!

🚀 Let's chat and discover how our dedication to excellence can shape your path to confident homebuying. 💬🏡

07799 086213
[email protected]

🏠 Ready for a mortgage market update that could shape your financial future? 📊 The UK housing market is showing intriguing shifts, with interest rates holding steady and new borrowing options emerging. 💡 It's the perfect time to take a closer look at your current mortgage and consider your borrowing strategy.

💰 Are you making the most of these evolving trends? Whether you're a first-time buyer or looking to refinance, exploring your options now could lead to significant savings in the long run. 📈 Let's connect to discuss how these changes might impact your borrowing plans and ensure you're on the right financial path.

🔍 Your mortgage deserves attention and optimization, just like any investment. Don't miss the chance to seize new opportunities and secure your financial well-being. Reach out today for a personalized review – your brighter mortgage future starts here! 💬

07799 086213
[email protected]

How to get the best mortgage deal when buying a home?

For those who are looking to buy soon and want to know what you can do to get the best mortgage deal, below are a few points which can help achieve this:

1. Check your credit score

Make sure there are no horrors you’re not aware of, such as missed payments or defaults from old mobile providers (it happens). Having a good credit score gives you a good indication you’ll pass the lender’s credit checks. The best credit agencies to use are Experian, Equifax or TransUnion as these are what lenders use, so whatever is showing on there will show on lender checks. You may also be interested to see how many companies perform credit checks on you..

2. Increase your deposit

Having as big of a deposit as possible not only means you’ll need to borrow less on the mortgage (which means less interest to pay on the entire term), but it can also allow you access to better rates. Typically speaking, mortgage interest rates can drop for every 5% extra you put down. The bank of Mum & Dad (or other close family) is very common these days, so if this is an option, it’s worth the conversation.

3. Tidy up your bank statements

Excessive spending or regular gambling may be seen as an issue. You are free to do what you want with your money, but it can raise more questions and potential issues if lenders see you spending all your money every month. Try reducing your spending on luxury & recreational items 3 months before you’re looking to buy and try saving away a set amount each month, similar to what the mortgage payments could be. It gives lenders confidence you’re in control of your finances and will be able to afford the monthly payments.

4. Will the lender have any issues with the property your buying?

Lenders conduct a mortgage valuation to happen on the property to ensure it’s mortgageable and worth what you’re paying. Looking at ‘unusual’ or quirky properties can deter some lenders. Your mortgage broker can review the property before you make an offer to see on face value if there could be any issues with obtaining a mortgage on that property.

Hope this helps some, but feel free to get in touch if you want any help or have any questions:

Mobile: 07799 086213
Email: [email protected]

You may have heard about the new Mortgage Charter that has been introduced by the Government to support mortgage borrowers, but what is it and how can it help you?

What is the Charter?

The Charter is a set of standards that are in place for when helping mortgage customers who are worried about the high rates. These standards are a commitment to offer support and have been agreed by the UK’s largest mortgage lenders and the industry regulator: the Financial Conduct Authority (FCA).

You can view the Charter and a full list of the lenders who have signed up to it on the Government's website:

https://www.gov.uk/government/publications/mortgage-charter/mortgage-charter

What does it mean for you?

Lenders typically have their own measures in place to support customers struggling to pay their mortgage, but this Charter creates a clearer and more consistent approach for mortgage borrowers.

All mortgage borrowers, who are up-to-date with their payments but struggling, now have these opportunities:

· Switching their mortgage to interest-only for six months

· Extending their mortgage term and having the option to switch back to the original term within six months

These solutions lower repayments without affecting credit scores or requiring new affordability checks. In addition, lenders have agreed to not action repossessions within a year of first missed payments.

How can you get help?

It’s an uncertain time and worrying for many, but help is available. If you’d like me to review your mortgage and see which option best suits your circumstances, please get in touch at [email protected] or on 07799 086213.

Your home may be repossessed if you do not keep up repayments on your mortgage.

[1] These commitments do not apply to Buy-to-Let mortgages

[2] Applies to 97% of the mortgage market, where customers are up to date with payments and not seeking to borrow more or change their repayment type or term.

[3] No further action will be taken if a Possession Order is granted from 26 June 2023.

[4] Rates must be finalised two weeks before the new term starts.

[5] Monthly payments after the support may be higher than they otherwise would have been and overall costs over the life of the mortgage will be higher. Affordability will need to be checked if borrowers wish to permanently convert to an interest-only mortgage, or where the mortgage term is proposed to be extended beyond the borrower’s expected retirement date.

Don't leave it too late to upgrade your Energy Performance Certificate (EPC)!

Some interesting facts for you:

- Current minimum rating required for rental properties – E

- New rental properties - minimum C by 2025

- All rental properties - minimum C by 2028

- The government has specified that all homes should reach at least EPC band C by 2035

- The average cost for UK homeowners to improve their energy performance certificate ratings (EPC) stands at £13,981.87

- The average UK home currently has an EPC rating of 66 points, or band D

- Over 15m properties in the UK need to improve their EPC ratings

- Good EPC ratings (typically A-B) opens up green mortgages from lenders

- Green mortgages usually offer lower interest rates and incentives, such as cashbacks

No doubt the cost to bring up your EPC rating will increase the closer to the deadlines you leave it.

Always review funding for this when remortgaging your property, you may be able to release equity in your property to cover the cost. The more energy efficient your home / property, the lower the utility / running costs.

The Bank of England has risen the base rate to 5% today - an increase of 0.5%.

Why has this happened?
One of the main reasons why the base rate has increased is because of the high inflation rate which currently sits at 8.7%. The inflation target is 2%.

What does this mean?
Increasing the base rate means the Bank of England is looking to take money out of the economy to slow down and reduce the inflation rate, which will slow down spending. This will have a knock-on effect of other interest rates, such as mortgages, credit cards and personal loans.

How will this affect me?
Interest rates are likely to be higher meaning the cost of borrowing will be more and your monthly payments are likely to increase. Mortgage lenders are starting to increase their rates.

What should I do?
Speak to a mortgage broker to understand what affects this will have on your mortgage. Understanding what options are available now helps you plan ahead. Please don't bury your head in the sand! Lenders usually allow you to secure a rate up to 6 months before your current mortgage deal is due to end. This gives you the option to secure a new deal on today’s rates so if they increase, you already have one secured, or if they decrease, you can switch the secured rate to benefit from the drop.

I'm always happy to talk through your circumstances and even offer a second opinion if you have any worries or questions. All conversations are confidential and protected under GDPR.

Mobile: 07799 086213
Email: [email protected]

Couple of 5 star reviews recently on Trustpilot ⭐⭐ ⭐ ⭐ ⭐

Hard work and effort does pay off for me and my clients!

0% interest on additional borrowing for greener home improvements? 🏡

With the cost of energy prices rising, it's good to see Nationwide Building Society offering their mortgage customers the option for further borrowing to help with greener home improvements to save them money on their energy usage.

Furthermore, you could borrow up to £15,000 on 0% interest for up to 5 years!

You can use the money for green home improvements such as:
- solar panels
- air source heat pump
- window upgrades
- boiler upgrades
- cavity wall insulation
- loft insulation
- an electric car charging point

This is available now!

Landlords - don't leave it too late to ensure your rental properties are meeting the Energy Performance Certificate (EPC) minimum standards!

They're not guidance like some landlords thought, it's the law.

Current minimum rating - E

New rental properties - minimum C by 2025

All rental properties - minimum C by 2028

The longer it's left, the likely of the cost to rise & the labour to complete the work may be limited.

Mortgage funding can be a solution to cover the cost of the work, so when your current mortgage deal is up for renewal, speak to your broker about what options there may be!

Nearly half of landlords thought EPC rules were just 'guidance': MAB – Mortgage Strategy Nearly half of landlords (47%) believed that rules instructing them to upgrade properties to an EPC rating of C or higher was guidance and not the law, according to research by Mortgage Advice Bureau. In 2021, the government issued a deadline of 2025 for landlords to upgrade properties new to the re...

Goes to show people do pay off their mortgages!

For a lot of people, owning their home outright is one of the best feelings.

For others, there could be potential to release equity to smartly invest & build financial security.

More people in England now own homes than have a mortgage or rent them Figures show that 32.6 per cent of dwellings were owned outright in England in 2021, up from 30.7 per cent in 2011. Another 28 per cent of properties are owned with a mortgage or loan.

If landlords want to keep their investment properties making profit, they need to keep updated on changes in the market.

Many changes have happened and more are due to come. Don't fall behind and find yourself losing money.

Speak to professionals & experts to understand how to maintain a profitable property portfolio both now and in the long run.

Landlords face crisis as mortgage costs surge higher than rents Landlords face crisis as mortgage costs surge higher than rents

It's great to see lenders dropping rates, however you need to be cautious that there aren't huge arrangement fees attached which actually make that product more expensive!

The highest I've seen is 7%! - Granted this was a specialist lender, so flexible with the lending but not leading market rates.

But even the average for Buy to Let mortgages can be between 1.5%-3%. Yes you can add this to the loan (still yet to have a client who wants to pay this upfront), but it makes a real difference on the monthly payments.

Always work off what is the true cost of the mortgage product as a higher interest rate with little to no arrangement fee can work out cheaper.

Some new stories telling people that interest rates are rising..

Some telling stories that they're falling..

Want to know what's actually available to you? Speak to a mortgage broker.

We're experts at what we do. Keeping up with what's happening in the market and receiving emails directly from lenders about rate changes.

Want to know what's really going on? Speak to an expert.

Getting the right advice saves you time and money.

Mobile: 07799 086213
Email: [email protected]

The Bank of England rose the base rate to 3% last Thursday.

How have lenders reacted?

Barclays, Bank of Ireland, Coventry Building Society, Halifax, HSBC, Kensington & Virgin money have all REDUCED rates within the week!

Best to review any rates you've secured as there may be better deals available!

Some good news in the mortgage market this week!

A few lenders have released new product with reduced rates!

Accord Mortgages Limited, Barclays UK, Bank of Ireland, Santander & TSB Bank to name a few.

It's not all doom and gloom like the news makes it out to be..

Seeing a lot of Buy To Let purchases failing the Interest Cover Ratio stress tests..

With interest rates rising, lenders are changing their stress levels to ensure the rental will still cover the mortgage payments with the rise in interest rates. However, this is having an effect on borrowing levels.

Take a typical stress rate at the start of the year of 145% at 5.5% compared to a typical stress rate today of 145% at 7% on a monthly rental income of £1,000:

145% at 5.5% = £150,470 mortgage borrowing
145% at 7% = £118,226 mortgage borrowing

The difference means landlords mortgage borrowing is falling short £32,244 in this above example, meaning a larger deposit is required, or higher rental needs to be charged for the property.

Interesting time for landlords as reviews of their property portfolios will be key to ensure it’s still profitable & sustainable.

Review your options and speak to a qualified broker / adviser who can guide you & provide good, honest advice.

It'll be interesting to see how existing landlords will adapt to the changes for EPC ratings.

Seems like new build properties could be the way forward if they wish to add to their portfolio.

Or in a few years, there could be plenty of properties up for sale which won't meet the EPC standard.

How Will Changing EPC Ratings Affect Landlords? This article about Data & Trade Associations was created by The Landsite.

Landlords!

Below are some key areas you should be thinking about when it comes to your rental properties:

Rising interest rates:

With the Bank of England rising the base rate from 0.25% at the start of the year, to now 2.25%, it’s affected mortgage interest rates. Reviewing your mortgages is key to ensure you're paying the best possible rate for your Buy To Lets. Lenders allow property owners to secure rates up to 6 months before their current deal is due to end to help secure a rate now and not worry about further interest rate increases.

Proposed changes to EPC ratings:

The recent announcement of EPC ratings means that existing rental properties need to have a minimum EPC rating of C by 1st April 2028. It may be a while into the future; however a lot of properties will have to spend a lot of money to achieve this. So instead of considering selling your property, you can look to refinance your mortgage to help release funds to cover the costs of this, meaning you don’t have to pay for the costs upfront. There’ll no doubt be a rush closer to the deadline where costs of work will increase and should you not meet this deadline, then legally you cannot let out the property. It’s common for landlords to fix their rental mortgages for 5 years, so considering the costs for EPCs now will allow you to ensure you have enough time to sort this.

Ltd company Special Purpose Vehicle (SPV) vs personal name:

With tax changes to investment properties, landlords need to be sure their portfolios are as profitable as possible. Although I cannot provide tax advice, I can guide you on the differences of owning a rental property via personal and SPVs can have on you tax & income. I help with both types of mortgages and can refer you for tax advice so you can be confident to know you're keeping your portfolio tax efficient.

Get in touch to find out more:

07799 086213
[email protected]

A lot of people may have seen this..

The claim was that her interest rate offered went from 4.5% to 10.4% after the lender pulled their rates. However, there's a lot of unknown with this claim.. did she have an application submitted to secure the rate? Was the new rate with a specialist lender? Did any of her personal circumstances (poor credit, complex income etc.) have a reason why she is now getting a higher rate?

Yes, interest rates are rising and lenders are now regularly changing their rates, but this is an extreme jump which doesn't reflect what's really happening with current mortgages. Below are some key points about the mortgage process:

- Once a full mortgage application is submitted, the rate is secured and honoured unless there are changes made to the application
- Mainstream lenders currently don't have rates near the figure claimed, they're much lower
- Interest rates & mortgage terms should be discussed after documents and a full fact find have been received by brokers. We don't know what you're eligible for until we've assessed everything

Missing information and news headlines can hide the truth and cause panic. If you're concerned about the cost of your mortgage, or have questions about buying, please speak to a broker or get in touch.

Speaking to a real person about your circumstances and getting the right advice can put your mind at ease and give you a better understanding about your options.

07799 086213
[email protected]

Brokers dismiss BBC's 10.4% mortgage claims - The Intermediary - Latest UK mortgage news Mortgage brokers have been quick to dismiss claims that a BBC Question Time audience member was told her mortgage offer had increased from 4.5% to 10.4%.

I come back from a nice relaxing holiday to hundreds of emails about lenders pulling out of the market and daily changes to mortgage products - what the hell happened when I went away!

The news always has bold headlines which can scare a lot of people, so below are a few points to be aware of and which may help:

- Secure a new product 6 months in advance:

Most lenders allow homeowners and landlords to secure a new rate up to 6 months before their current one ends, allowing you to budget for the future now.

- Check your agreement in principle is still valid:

Rises in the cost of living have meant lenders have changed their affordability assessments so you may find you're not able to borrow as much when a full mortgage application submitted. Contact your broker / adviser to ensure the figures are still valid and the lender it's with can still take new applications.

- Mortgage products are changing daily but there are still options to lend:

Lenders are withdrawing mortgage products to make sure they're still financially viable to offer with the volatile market. However new products are becoming available and nearly all lenders are still willing to help with mortgages.

Sometimes reading the news is not the best thing, and a lot of times speaking to a real human about your circumstances can put your mind at ease. I'm always happy to help and will give genuine advice suited to you.

Feel free to contact me should you wish to talk anything through:
07799 086213
[email protected]
www.staffordfs.co.uk

Home | Stafford Financial Services Competitive deals from a comprehensive market. With access to 70+ lenders, including specialist finance options, we're sure to find the right deal for you

By putting your personal protection policies in trust, you can make sure the right money makes it into the right hands at the right time.

If we told you about a product that:
- was free
- could save you 40p in every £1
- could save you months of legal wrangling

Would you be interested?

That product is a trust. Putting your policy in a trust:
- is free
- may save inheritance tax
- avoids probate delays

Give yourself complete peace of mind. Call and speak today about the essential benefits of putting your personal protection policies in a trust.

07799 086213
[email protected]
www.staffordfs.co.uk

Make sure your mortgage is as cost-effective as possible!

With the Bank of England rising the base rate from 0.25% at the start of the year, to now 1.75%, it has affected mortgage interest rates.

So reviewing your mortgage is key to ensure you are paying the best possible rate. A lot of lenders allow you to secure rates up to 6 months before your current deal is due to end to help secure a rate now and not worry about further interest rate increases.

Get in touch to review your options now without affecting your credit score!

Mobile: 07799 086213
Email: [email protected]
Website: www.staffordfs.co.uk

Home | Stafford Financial Services Competitive deals from a comprehensive market. With access to 70+ lenders, including specialist finance options, we're sure to find the right deal for you

My website is now up and running!

Check it out..

www.staffordfs.co.uk

Home | Stafford Financial Services Competitive deals from a comprehensive market. With access to 70+ lenders, including specialist finance options, we're sure to find the right deal for you