Castleman Mortgages Ltd

Lisa Paxton from Hinckley & Rugby Building Society kindly visited our office last week.

Claire and Laura were there to take notes on the unique criteria offered by Hinckley & Rugby to enable us to increase our product knowledge but also to help us to help more of YOU with your complex/quirky cases!!!!

🔵 Will a student loan affect your eligibility for a mortgage?

Yes, it will, but the impact differs significantly from other debts like credit cards or personal loans. Interestingly, student loans usually do not appear on your credit report, unlike debts such as credit card balances, personal loans, overdrafts, or car finance payments. However, lenders do consider them!

🔵 How does having a student loan affect your chances of getting a mortgage?

Various lenders have different criteria for evaluating a borrower's financial situation, focusing on income and expenses. This evaluation is known as mortgage affordability. Essentially, a student loan can impact the amount you can borrow from a mortgage provider as your monthly student loan payments are factored in as part of your debt obligations.

However...

It's important to note that the total amount of your student loan is not the primary concern – whether it's a small or large sum doesn't matter. What matters is the monthly repayment amount for your student loan.

Let us know if you would like to chat about your affordability.

We have had a few new followers recently on our social media so I thought I would re-introduce myself to those of you that don't know me (sorry to bore the ones that already do!)

I'm Sarah and I set up Castleman Mortgages over 4 years ago. I have worked within the Financial Services industry for (*coughs*) over 20 years and offering mortgage advice for the last 9 years!!

I absolutely love what I do and being able to help my clients realise their dreams feels really special to me 😊

I like to think of myself as a friendly and approachable person and not your typical salesy, suited type broker (of whom there are many in this industry!)

I also have the amazing Claire and Laura working for Castleman Mortgages who are incredible assets to the company 😊

Here's a pic of me in the great outdoors 😂 (my other love 😍)

Is your rate due to roll off????

If we look at your mortgage 6 months prior to your current rate rolling off, you get to benefit from the following:

🟢 The rate you lock in is worst case scenario
🟢 You have up to 6 months to prepare for an increase in payment
🟢 If rates do come down we can change you to a new rate as many times as you want
🟢 If rates continue to rise you know you have locked in at the best time

Feel free to get in touch if you want to chat through your options.

Our very own Claire will be joining 57,000 other runners to complete the worlds largest half marathon on Sunday the 8th September in Newcastle 💪

If you would like top sponsor her, please use the following link:

https://ajbellgreatnorthrun2024.enthuse.com/pf/claire-selvidge

Good luck Claire!!!!!

You don't need to review your life cover every year like your home or car insurance, but these 3 life events are a good time to look at your existing or new cover to ensure your cover is still relevant for YOU!

If you want to have a chat about any cover you currently have or new cover you would like to look at, then we would be more than happy to look at this for you 😊

*As with all insurance policies, conditions and exclusions will apply.

These are probably one of my favourite types of email to receive!

Mortgage fully agreed and Offer issued!!

These clients mortgage rate is rolling off at the end of September, with quite a jump in interest rate. By extending the term and consolidating some unsecured debts to the mortgage means that the jump in rate isn't as bad as anticipated and the mortgage remains affordable.

Obviously our advice is tailored to everyones circumstances individually but if you are looking for a chat on the best way forward for YOU, please get in touch 😊

*your home may be repossessed if you do not keep up with repayments on your mortgage*

The lovely Laura is adding to our 100% 5⭐️ hit rate!! 😊

I only wanted to get planning for the week ahead!!! 🤦‍♀️

Not helpful Jinx 🤣

This is a question we get asked A LOT!!!

The examples given are exactly that and we would always tailor any mortgage to suit you, your needs and circumstances and most importantly what you can AFFORD!

**Rates applicable as at 09/08/24 - 15:00**

I think someone has been playing with the new scanner in the office!!! 🤣🤦‍♀️

Let's talk about the SVR rate!!

To give you an example, Nationwides SVR is currently set at...... brace yourself, 7.74%!!!

The good news is that the SVR normally has no early repayment charges (ERC)! So you can chip away at your mortgage at your own pace or move to a new lender without any ERCs.

However, sticking to the SVR might not be the most cost effective way to pay off your mortgage.

Feel free to get in touch if you would like to review your mortgage options whether you are currently on the SVR or your current deal is coming to an end.

How was this 3 weeks ago already!?!?! 😭

Whilst we love helping the locals of Leicestershire and are proud to be local, we have clients allover the UK!!!

Telephone calls, video chats, emails and our online portal all help us to look after you, wherever in the UK you may live 😊

What a week of amazing sunshine!!!! ☀️

We got out on the paddle board 3 times this week. Hope you all got a chance to enjoy it too 😊

I get asked this question A LOT!!!

The answer is...... we have options!!!

If you are looking for a new mortgage and due to start, or have started, a new job then please feel free to get in touch so we can look at your options.

Castleman Mortgages are excited to introduce Laura – a fantastic addition to our team since June 2024. Laura has a background in business having run 2 limited companies and also has experience in property investment and renovation. She particularly enjoys helping first time buyers with their mortgage and specialises in all things life insurance!!

Laura is super friendly and welcoming and is also based in Leicestershire (she is also top biscuit supplier in the office too!!!) 😍

If you bought your home using the Help to Buy scheme, you may be wondering what your options are when it is time to re-mortgage? 🤔

Feel free to get in touch if you have any questions.

I recently attended a Stonebridge Round Table Ladies Event at Notcutts in Worksop!

It was so great to meet and chat to so many incredible women in a very male dominated industry. We had guest speakers from LV, Legal & General, Zurich and Curve Conveyancing. Lots of info to take back to the office 😊

Roll on next quarter 😍

Castleman Mortgages Love 🥰

If you're like me and like to do crazy sh*t at the weekends, then I hope you have life cover or, at the very least, income protection in place!!

A couple of questions to ask yourself:

🔴 How much sick pay does your employer pay you?
🔴 How long could you afford to pay your bills on statutory sick pay of £116.75 per week for?
🔴 Could your family afford to pay the bills/mortgage if you weren't around?

As I always say, this isn't a nice conversation to be having but it is possibly the most important!!

With interest rates moving around on a weekly basis at the moment, this question gets asked A LOT!!!

When we are looking after you and your mortgage, we constantly monitor interest rates right through to completion to ensure that you are benefitting from the most suitable product for you!!!

My youngest daughter kindly offered to come with me to the office to build our new dining table and chairs 😊

The flatpack took us less than an hour to assemble, and we walked back along the river soar 🥰

You and your needs are unique!!

Outstanding debts can affect the amount you can borrow with a mortgage lender. If you want to know how this affects you, get in touch and we can have a look for you😄

We had the pleasure of watching the girls football team train at the LCFC training ground last week along with 200 other boys and girls!! 😊

Great weather, great venue and great playing by all involved.

*****IMPORTANT POST ALERT*****

Do you know how long your employer would pay you for if you were off work sick?

Would statutory sick pay of £116.75 per week cover your bills?

If you are unsure about what cover you already have or feel that income protection is something that you would like to look at, then please get in touch for a free quote.

Today we spent the afternoon listening to 4 of the specialist mortgage lenders that we use to keep up to date with their USPs.

West One, Kensington, Family Building Society and Quantum all explained the very niche and complex criteria they accept so we can help you guys with the more 'interesting' applications 😜

We had a nice lunch too 👍

Driving to and from the office this week with the roof well and truly OFF!!!!