We don't take breaks, we break records!!!

October was our record breaking month in terms of amount of mortgage applications applied for and offered. Aga has worked very hard and it has reflected in her taking customer bookings for 2 weeks in advance now!

Tom has been crazy busy making sure our customers feel safe financially and writing record number of insurance and wills!

We work non stop and get results we want to see for our clients.

The busy trend on housing market will continue as market is to remain open and house valuations and viewings are still possible in lockdown

How do you prepare to view houses before you decide to make an offer?

Housing market is still very active and there are many customers who, despite the very unprecedented times, decide to move house or buy their first home.

Some of us may have realised during lockdown that they need more space, so they want to buy a bigger house. Others, who have enough deposit saved up, may have decided to take the first step now as it is hard to predict what market will be like in the coming months.

What questions should you ask the sellers or estate agents that will be important for your mortgage and purchase process?

Here’s a list of a few questions you might ask: - Why is the house for sale and have its owners (vendors) already moved out or are they also in the process of buying (in a chain)? - Are the sellers ready to negotiate on price? – lucky if you are doing a viewing with the owners so you can ask them direct - How old is the property? - Is it a freehold or a leasehold property? - If it is a leasehold, how long lease is left in years? - Is this property of standard construction? If non-standard – what type is it? - How long has this house been for sale now?

Above are just a few questions which may be crucial in the buying process.

Remember, the best thing you could do, is to speak to an independent mortgage broker who will also make sure you are mortgage assessed and so when you are asked questions about your capacity for mortgage, you will also have all your answers and documents ready.

If you have any questions, contact us for a free initial chat.

How easy is it to become a First Time Landlord?

More and more of us think of extra income sources and investing in properties might be the right way to boost income or provide yourself with a retirement income or asset.

We often meet customers who are a bit unsure and who think it is very difficult to start.

Although, as with any other business, there are risks related to an investment, let’s focus on the positives and answer some of frequently asked questions!

First of all how big deposit does one need to buy a house to let? Typically, around 25% of purchase price needs to be presented as a deposit. It can be your savings, a gift or it can be capital raised on remortgage from another property, for example your residential home.

Secondly, do I need to earn certain income to get a buy to let mortgage? Yes, some lenders do require that you earn income of ca. £25k annual income however others don’t! There are so many lenders and so many options that you had better speak to a mortgage broker is you want to become a landlord sooner rather than later.

Should I consider interest only or capital repayment type of mortgage? It depends on your investment strategy and long-term plan. Both options are possible but it will have to be well thought through.

The above are just a couple of questions being asked and there is loads more! Although a mortgage broker cannot dictate your investment strategy, we can help you by showing you options and assessing your circumstances. Contact us for more information if you would like to become a landlord/landlady.

GRN Financial Services Limited is an appointed representative of PRIMIS Mortgage Network. PRIMIS Mortgage Network is a trading style of Personal Touch Financial Services Ltd which is authorised and regulated by the Financial Conduct Authority Our fees and charges vary depending on the Services we provide to you. We typically charge a fee of £350. Some of products and services may not be regulated by the Financial Conduct Authority. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE