Ben Robbins - Mortgage & Protection

Unlock the Benefits of Bath Building Society's Rent a Room Mortgage

Bath Building Society’s Rent-a-Room mortgage offers a unique pathway to homeownership by allowing potential buyers to use rental income from a spare room as part of their mortgage affordability calculation. This innovative product is ideal for first-time buyers with a minimum income of £20k.
What It Does: The Rent-a-Room mortgage enables homeowners to generate additional income to be used towards their affordability if they plan on renting out a room. This rental income is then considered in the mortgage affordability assessment, potentially increasing the amount a borrower can secure. The product is available in fixed and variable rate options, providing flexibility to suit different financial situations.
How Affordability is Calculated: This mortgage's affordability is calculated by including the expected rental income from the room alongside the borrower’s regular income. This allows for a higher borrowing amount than might otherwise be possible based solely on traditional income sources. Bath Building Society considers up to 85% of the property’s value, offering a substantial loan-to-value ratio.
Eligibility: The Rent-a-Room mortgage is available to individuals who own or are purchasing a property with a spare room that can be rented out. It’s particularly beneficial for first-time buyers, individuals with a modest income, or those looking to maximise their borrowing potential. Bath Building Society does not require a credit score check, focusing on the property’s value and the projected rental income.
Benefits: Key benefits include the ability to overpay, up to 20% per annum, without penalties, allowing borrowers to reduce their mortgage term and interest payments. The absence of a credit scoring requirement also makes this product accessible to a wider range of borrowers, the lender conducts a credit check (message me and I'll explain the difference).
This mortgage product provides an excellent opportunity for those looking to enter the property market or make the most of their existing property. For more detailed information, visit Bath Building Society's Rent a Room Mortgage page.
This option could be a game-changer for many prospective homeowners, offering a practical solution to affordability challenges in today's housing market.

🎉 We're absolutely thrilled to announce that another one of our valued clients has received a mortgage offer! 🏡✨

🌟 It's always a pleasure to see dreams becoming a reality, and we're delighted to have played a part in making this happen. The journey to homeownership is a significant milestone, and we couldn't be happier for our client as they move one step closer to their new home. 🗝️🏠

🎊 Congratulations on this major achievement! 🥂 Here's to many happy years ahead in your new home. Let the countdown to moving day begin! 🎉🔑 hashtag hashtag hashtag 🎈

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🎉 Exciting News Alert! 🏡🔑 We are delighted to announce that one of our valued clients has received a fantastic mortgage offer for their dream home! 🌟🥳 This milestone represents a key step towards turning their homeownership aspirations into reality. 🏠💫 Kudos to our dedicated team for successfully securing this vital financial backing. 🤝🔒 Stay tuned for more updates as we progress towards the next chapter of this exciting journey! 📜🎊 hashtag hashtag hashtag hashtag 🎉🏡✨

When preparing to apply for a mortgage, a common question arises: should you clear existing loans and debts beforehand? The answer is not necessarily straightforward and depends on individual circumstances.

Assessing Affordability
Firstly, it’s crucial to run an affordability assessment to understand the impact of your current debt on your borrowing capacity. Mortgage lenders evaluate your financial health by looking at your income, expenses, and existing debt obligations. High levels of debt can reduce the amount you're able to borrow, as lenders aim to ensure that your mortgage payments will be manageable alongside your other commitments.

The Impact of Credit Cards
From experience, credit card debt can significantly affect your borrowing potential. High balances and multiple credit cards can indicate higher financial risk to lenders, potentially lowering your borrowing limit or increasing your interest rate. Reducing or clearing credit card debt can improve your debt-to-income ratio, making you a more attractive borrower.

Don't Rush to Use Savings
While it might be tempting to use your savings to clear debts, it's advisable to consult with a mortgage broker first. A broker can provide a detailed analysis of how your current financial situation affects your mortgage options. They can help you devise a strategy that optimises your finances for mortgage approval. This might involve paying down certain debts while preserving some savings for your deposit or other costs associated with buying a home.

Planning Your Finances
Creating a financial plan with the guidance of a broker ensures that you make informed decisions. The broker can simulate different scenarios, showing how paying off specific debts impacts your mortgage application. This approach prevents you from depleting your savings unnecessarily and ensures you maintain a balanced financial position.

Conclusion
In summary, while clearing debt can positively influence your mortgage application, it's not always necessary or beneficial to do so before speaking to a broker. Conduct an affordability assessment, understand the impact of different debts, particularly credit cards, and work with a professional to develop a strategic financial plan. This will help you make the best decisions for your mortgage application and overall financial health.

Feel free to reach out if you need personalised advice on managing your finances in preparation for a mortgage application.

How long does a mortgage offer last?!🤷‍♂️

Did you know that most mortgage offers typically last up to 6 months for both purchases and remortgages? 🕒

Here's a valuable tip for homeowners and potential buyers: If you already have a mortgage, it's a smart move to start reviewing your options 6 months before the end date.

Why? Because this gives you the opportunity to secure a new deal that suits your needs, and potentially save money in the process! 💰

But here's the real secret: Even after securing a new mortgage deal, it's essential to have your broker regularly review your situation, the mortgage market is constantly evolving, and there might be even better, more cost-effective products available down the line. you don't have to stick with the deal you have! 🔄

And here's a bonus for those considering new builds: Some lenders are more flexible with offer extensions, potentially going beyond the standard 6-month period. 🏗️

Remember, staying informed and proactive about your mortgage can lead to significant savings over time. If you have any questions or need personalized advice, feel free to reach out to me. I'm here to help you navigate the world of mortgages and secure the best deals for your financial future. 🤝

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Good Morning! 🌟 As your dedicated Mortgage and Protection Adviser, I'm thrilled to share a recent success story! 🎉

One of our fantastic clients had a Buy-to-Let HMO Remortgage, and by regularly keeping an eye on rates and reviewing their product, we managed to secure a fantastic deal. 💰💼 Through careful consideration and reviews, we successfully changed their mortgage product, resulting in a remarkable saving of £189.64! 🚀

My commitment to regular reviews ensures that you're always getting the most cost-effective deals available in the market. 🌐💼

If you're considering a Buy-to-Let or your Personal Remortgage or have any mortgage-related inquiries, feel free to drop me a message. 📬

🏡💷

🏡 Exciting News for First-Time Buyers! 🚀

Thrilled to share that I've successfully secured a mortgage offer for a first-time buyer in just 48 hours! 🎉🔑 As a dedicated Mortgage and Protection Adviser, it's all about swift and efficient solutions tailored to YOUR needs.

In the fast-paced world of property, getting you the best deal is my priority. From navigating through options to sealing the deal, I'm here to make your home-buying journey seamless and exciting!

🌟 Why choose me?
✅ Expert advice tailored to YOU
✅ Swift and efficient process
✅ Unbiased, professional service
✅ Dedicated to YOUR success

📩 Ready to embark on your homeownership journey? Message me today for personalised advice and let's make your dream home a reality! 🏠💼

I'm so excited to announce that I've been able to secure a mortgage offer for my first-time buyer clients, and by reviewing their rate, I've saved them £105 per month from when they originally applied!

Buying a first home is a huge milestone, and I know how much it means to my clients to finally have their keys in their hands. I'm so proud of them for all their hard work, and I'm thrilled that I could be a part of their journey.

I also want to take this opportunity to highlight the importance of reviewing your mortgage rate regularly. Even a small change in interest rates can make a big difference to your monthly repayments, so it's important to make sure you're getting the best deal possible.

If you're a first-time buyer or you're thinking about remortgaging, please don't hesitate to get in touch. I'm always happy to help my clients find the best mortgage for their needs, and I'll work hard to save you money wherever possible.

The first sub 5% mortgage rate I've seen in a while is finally here! I expect other lenders will follow suit soon enough!

This one is for purchasers only for now but, if you haven't completed yet, you could still take advantage of this rate!

DM me for any questions or advice!

[email protected]

CIS contractors, don't overpay for mortgage advice

There are a lot of companies out there that claim to specialise in mortgage advice for CIS contractors. I have had clients who were quoted a charge upwards of £1995 for their services. But here's the thing

💵YOU DON'T NEED TO PAY THAT MUCH

CIS contractors can get mortgage advice from any qualified mortgage broker. And there are many brokers who are happy to help CIS contractors, even if they don't specialise in it.

In fact, many brokers will charge CIS contractors a fraction of what the specialised companies charge. Some brokers will even offer their services for free.

🤷So why would you overpay for mortgage advice? Don't fall for the trap of thinking that you need to go to a specialised company.

✅DM me here or email at [email protected]

It would be great to speak to anyone who wants to see if this would help support you get onto the ladder for the first time or get yourself back onto the property ladder!

OFFER RECEIVED!

🏠I haven't posted in a while because it has been a busy period. I would like to express my gratitude to everyone who has recommended me to their friends and colleagues!

I recently assisted first-time buyers in purchasing their first home together.

💥By consistently reviewing the rates, I managed to switch their mortgage to the lowest rate available, resulting in a monthly savings of over £100 compared to when we initially started!

If you have any concerns, questions, or would like my assistance in your mortgage journey, please don't hesitate to contact me immediately.

The first email of many to come?!

I hope so! Don't settle on the rate you have if your mortgage or remortgage hasn't completed, keep an eye to see if you can change to a better deal soon!

Inflation falls to 7.9%, lower than expected

Inflation in the UK fell to 7.9% in June, down from 8.7% in May. This is lower than the predicted 8.2%, and is the first time inflation has fallen since March.

The fall in inflation is likely due to a number of factors, including the recent decline in energy prices. However, it is important to note that inflation is still at a high level, and is likely to remain so for some time.

The fall in inflation could have some positive implications for the UK mortgage market. With inflation lower, mortgage rates may also fall. This could make it more affordable for people to buy and remortgage a home.

However, it is important to note that the Bank of England is still expected to raise interest rates in the coming months, but more likely by a quarter of a percent. This could offset some of the benefits of lower inflation.

Overall, the fall in inflation is a positive development, but it is too early to say what the long-term impact will be on the UK mortgage market.

What does this mean for you?

If you are a homeowner, the fall in inflation could mean that your when you remortgage your mortgage payments will not increase as much as they would have otherwise. This could save you money in the long run.

If you are thinking about buying a home, the fall in inflation could make it more affordable to do so. However, it is important to factor in the fact that interest rates are still likely to rise in the coming months.

Overall, the fall in inflation is a positive development for homeowners and potential homeowners. However, it is important to stay informed about the latest economic trends so that you can make informed financial decisions.

What do you think?

What do you think about the fall in inflation? Do you think it will have a positive impact on the UK mortgage market? Let me know in the comments below.






homeownership # financialplanning

I'm so grateful to my client for sending me this amazing Welsh whiskey .distillery, as a thank you for helping them secure their first property! It's means so much to me helping someone through their journey.

I've been helping people with their mortgages for almost 14 years, and it's always rewarding to see clients achieve their goals of owning their own property.

If you're thinking about buying or remortgaging, I would love to help you!

Here's to many more clients being helped!

Inflation hasn’t been falling as quickly as anticipated, resulting in the Bank of England coming under pressure to raise Bank Rate again in May. Mortgage rates reversed their downward trend and many mortgage products were pulled to be repriced. New research by Hamptons shows that young adults are staying at home for longer to save up for their own property, with some skipping the rental market entirely and going on to buy a home instead. The average deposit paid by a UK first-time buyer for a three-bed home costing £240,000 is £34,500, assuming a 15% deposit, Zoopla has found. Rightmove has revealed the cheapest cities for FTBs, which is topped by Bradford, where the average asking price for a FTB property is £104,643.

This month’s Review includes the latest on the and h markets, a decline in would-be , the latest news for first-time buyers and the House Price Index
https://www.dgsifa.com/wp-content/uploads/2023/06/Residential-Property-Review-June-2023.pdf

Mortgage Interest Rates Rising: How a Mortgage Broker Can Help

Mortgage interest rates have been rising in recent days, and this trend is expected to continue. If you have a mortgage or are thinking about buying a home, you may be wondering how to find a new rate that is more affordable.

As a mortgage broker, I can help you compare rates from multiple lenders and find the best deal for your needs. I can also help you understand the different types of mortgages available and choose the one that is right for you.

Here are a few of the ways I can help you find a new mortgage rate:

🏠Shop around for the best rate. I have access to rates from hundreds of lenders, so I can help you find the best deal.
🏠Help you understand the different types of mortgages. There are many different types of mortgages available, and it can be difficult to know which one is right for you. I can help you understand the different options and choose the one that is best for your needs.
🏠Help you with the application process. The application process for a mortgage can be complex. I can help you gather the necessary paperwork and complete the application process.

If you are looking for a new mortgage rate, I encourage you to contact me. I would be happy to help you find the best deal for your needs contact me at [email protected] or call on 07942116539

Here are some additional tips for finding a new mortgage rate:

Get pre-approved for a mortgage before you start shopping for a home. This will give you an idea of how much you can afford to borrow and will make the home buying process go more smoothly.
Be prepared to provide documentation to the lender, such as proof of income, assets, and debts. This will help the lender assess your creditworthiness and determine the terms of your loan.
Ask about any special offers or discounts that the lender may be offering. Some lenders may offer lower interest rates or closing costs to borrowers who meet certain criteria.
By following these tips, you can increase your chances of finding a new mortgage rate that is more affordable.

Self-Employed? You Can Still Get a Mortgage with Only 1 Year's Accounts

🧑‍🔧If you're self-employed, you may be wondering if you can get a mortgage. The good news is that it is possible, even if you've only been trading for 1 year.

There are a few things you'll need to do to increase your chances of getting approved for a mortgage:

💯Make sure you have a good credit score.
💵Provide evidence of your income, such as your tax returns and bank statements.
📃Be prepared to provide additional information about your business, such as your business plan and financial projections.

There are a number of lenders who specialise in mortgages for self-employed borrowers. It's important to shop around and compare rates before you apply for a mortgage.

If you're self-employed and you're thinking about buying a home, don't let your employment status stop you. With a little planning, you can get a mortgage and achieve your dream of homeownership.

Here are some additional tips for self-employed borrowers:

Get pre-approved for a mortgage before you start looking at homes. This will give you an idea of how much you can afford and make the home buying process go more smoothly.
Be prepared to provide additional documentation to the lender, such as your tax returns, bank statements, and business plan.
Consider working with a mortgage broker who specializes in self-employed borrowers. They can help you find the best lender for your needs and navigate the mortgage process.
With a little planning, you can get a mortgage and buy the home of your dreams.

Skipton Building Society launches 100% loan to value mortgage for renters

Are you a renter who is looking to buy a home but don't have a deposit? Skipton Building Society has launched a new 100% loan to value mortgage that could be the perfect solution for you.

This mortgage is available to first-time buyers who are currently renting and can demonstrate a track record of affordability of all monthly rent and household expenditure for a minimum of 12 months in the last 18-month period.

Here are the key criteria for this mortgage:

🏠You must be a first-time buyer.
🏠You must be aged 21 or over.
🏠If you have a deposit, it must be less than 5% of the purchase price.
🏠You must have no missed payments on debts / credit commitments (e.g. mobile phone bill) in the last 6 months.
🏠You must be looking to borrow up to £600,000.
🏠You must meet the household-to-household criteria (see below).
🏠You must not be looking to buy a new build flat.
🏠You must have proof of having paid rent for at least 12 months in a row, within the last 18 months.
🏠You must have 12 months experience paying all household bills within the last 18 months.

If you think you could be eligible for this mortgage, then get in touch. I will be able to assess your individual circumstances and advise you on whether this mortgage is right for you.

It looks like we should hear something soon!

UK mortgage lender to offer first 100% loans since 2008 crisis Skipton building society aims product at renters who cannot save enough for a deposit

5 Things to Consider When Buying a Home

💵Get pre-approved for a mortgage. This will give you an idea of how much you can afford to borrow and what your monthly payments will be.
👨‍💼🙍‍♀️Find a real estate agent who knows the area you want to buy in. A good agent can help you find the right property and negotiate the best price.
🧑‍🎓Do your research on different types of mortgages. There are many different types of mortgages available, so it's important to choose one that's right for you.
🏠Get a home inspection. This will help you identify any potential problems with the property before you buy it.
🪙Be prepared for closing costs. Closing costs are fees that are associated with buying a home. They can add up, so it's important to factor them into your budget.
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Contact me today to learn more about mortgages.

Follow me for more home buying tips.

There are many different types of mortgages available in the UK, each with its own set of pros and cons. The best mortgage for you will depend on your individual circumstances, such as your credit score, income, and deposit amount.

Here are some of the most common types of mortgages in the UK:

Repayment mortgage: This is the most common type of mortgage. With a repayment mortgage, you pay back the amount you borrowed, plus interest, over a set period of time, up to 40 years in some instances
Interest-only mortgage: With an interest-only mortgage, you only pay back the interest on the amount you borrowed. The capital remains outstanding until the end of the mortgage term, when you will need to pay it off in full.
Offset mortgage: With an offset mortgage, you can use your savings to offset the amount you owe on your mortgage. This can reduce your monthly payments and the amount of interest you pay.
Buy-to-let mortgage: This type of mortgage is designed for landlords who are buying a property to rent out. Buy-to-let mortgages typically have higher interest rates than residential mortgages.
Shared ownership mortgage: This type of mortgage is designed for people who can't afford to buy a property outright. With a shared ownership mortgage, you buy a share of the property, usually 25% or 50%, and rent the rest of the property from a housing association.
If you're thinking about buying a home, it's important to talk to a mortgage broker to learn more about the different types of mortgages available and which one is right for you.

Comment below or message me if you have any questions about mortgages.

Are you reviewing your mortgage options soon?

Remortgaging could save you money and help you get a better deal.

Here are some of the benefits of remortgaging:

Save money on interest
Get a better deal on your mortgage
Increase your borrowing power
Here are some things to consider when remortgaging:

Interest rate
Fees
Length of mortgage
Your financial situation
Here are some ways to remortgage:

Use a mortgage broker
Switch with the same lender
Remortgage with no changes
Here are some of the jargon associated with remortgaging:

APRC: Annual percentage rate of charge
ERC: Early repayment charge
Flexible mortgage: A mortgage agreement which allows you to vary your monthly payments on your mortgage
Fixed rate mortgage: A mortgage agreement with an interest rate that doesn't change for the remainder of the mortgage deal
Standard Variable Rate: This is a standard interest rate on your mortgage that is decided by the lender. They also have the option to increase or decrease this amount when they choose.
If you’re interested in remortgaging, please contact me today to discuss your options. I would be happy to help you find the best mortgage deal for your needs.

Hey everyone,

I wanted to take a moment to share some advice on the recent 0.25% base rate rise. While it can be concerning to hear news like this, it's important not to panic. In fact, there are still plenty of opportunities to get a great deal on a fixed rate mortgage.

Nationwide recently announced reductions in their existing customer rates on the same day as the base rate rise, so there are definitely deals to be found. Even if you've changed your mortgage deal in the last three months, it's always a good idea to keep reviewing your options. You don't have to stick with the same deal or lender, and by tracking rates and comparing deals, you can ensure that you're always getting the best possible deal.

As a mortgage market expert, I'm here to help support you in this process. I can track rates and offers for you, and make sure that you stay on top of the latest deals. If you're considering a product transfer with your existing lender, there's often no charge for this service, so it's definitely worth exploring.

Don't hesitate to reach out to me for assistance. With my help, you can make sure that you're always getting the best deal on your mortgage.

Just had a great meeting with a client and I am thrilled to share that over the next 5 years, I have saved them a whopping £18,000! By keeping a close eye on interest rates and working diligently to ensure they were always on the lowest rate available, I was able to help this client keep more money in their pocket. It's always satisfying to see hard work pay off and make a real difference in people's lives. Here's to many more successful savings and happy clients!"

This is still relevant today as it was a year ago. So far, both are going strong! They're mum, never quits and does everything she can, for them

I hope my daughters will be as strong and driven as Charlene Robbins, I couldn't ask for a better role model for my 2 girls.