top of page

Search Results

53 items found for ""

  • Help to Buy Equity Loan - First Time Buyers!

    Final dates to remember as Help to Buy scheme is ending soon! Help to Buy Equity Loan scheme has helped many first-time buyers recently get on to the property ladder and move into new homes. The scheme is ending soon though and so far, the Government has not come up with any idea to extend it or replace it with a similar programme. There are other support schemes for buyers however this one has 3 significant dates to remember now: 31 October 2022 is the final day to reserve a new build and submit application to Help to Buy Agent 31 December 2022 is the final day to complete build of the property. It must be completed to a condition ready to move in. 31 March 2023, is the final day for legal completion. These dates are very important and cannot be missed or else the buyer may no longer qualify to use Help to Buy Scheme. If you know anyone who is thinking of buying a newbuild property with Help to Buy Programme, let them know! *We are a registered broker to assist mortgage applications with the use of Government Programmes, including Help to Buy so if you have any questions, do let us know. Information contained within the blogs was correct at time of publication but is subject to change. Your home may be repossessed if you do not keep up repayments on your mortgage.

  • How can a broker help with the reality of rising cost of living?

    With energy bills increasing drastically, inflation on the jump, mortgage interest rates going up as well as other things like national insurance contributions or council tax bills expected to increase , what can we do to help our customers? As lenders are changing their approach to reflect the economic situation, many buyers will find that they no longer can get the mortgage they hoped for . Because a broker can check affordability stretches of many lenders at once, and as we know the nuances of borrowing, we can advise you which lender will be the most generous so you can still buy the house you want. Many households will be struggling to find surplus cash to cover everyday expenditures, some customers might benefit from advice on debt consolidation. This way, they will get rid of debts and free some cashflow. We would advise to speak to a broker to see if it is really the best option. Now, more than ever, it is crucial to have your income protected in case you are not able to work. Income protection insurance is an absolute must when households’ bills are going to be even more expensive. How would you cope if you only received the Statutory Sick Pay? How would you manage to pay the bills and feed your family? Speak to a broker about Income Protection. We are here to help you with any questions you have. Think carefully before securing other debts against your property. Your home may be repossessed if you do not keep up repayments on your mortgage.

  • If you are a landlord, you need to be aware of the new regulations with a deadline in 2025.

    As the government has their target to reduce carbon emissions to be net-zero by 2050, new requirement has been introduced to make all let properties energy efficient. By the end of 2025, for all new tenancies in the UK, it will be a legal requirement that let properties have EPC (Energy Performance Certificate) rating of C or above. All existing lets will need to achieve this by 2028. There is still time to prepare for this move as many older properties that now only need to be at least EPC rating E, will need to be upgraded. These upgrades might cost landlords thousands of £s. Should this requirement not be met by the deadline, landlord will not be able to let legally and they could be penalised with up to £30000 fine. The EPC is a certificate specifically assessing how energy efficient the property is. The assessment to grade the property, needs a special inspection arranged. The grading is A to G, with A given for the most energy efficient properties. The certificate is valid for 10 years. If it expires, landlord will be required to have a new inspection to obtain a new EPC. Some properties might be exempt from new EPC requirements though.

  • Could you qualify for a Green Mortgage Deal?

    As we advise clients daily on the most suitable mortgage deals, we notice more and more so called ‘green mortgage deals’. What are they then and could you qualify for one? With our country facing a cost-of-living crisis and many of us looking for ways to save up, these types of deals are becoming more and more popular. Green mortgage deals are typically available for properties with Energy Performance Certificate (EPC) rating of either A, B or C and they usually offer a better dea/lower interest rate. Green deals can be used for both home purchase as well as re-mortgage. Another benefit of having an energy efficient home is that generally it should cost you less in bills so promoting ‘green’ should be even more important nowadays. The trouble is, that many customers don’t even know where to check their house’s EPC so they may not realise that a ‘green deal’ could be for them. There comes a challenge however, if your home does not prove to be energy efficient, because the work that would need to be done to improve the EPC turns out to be quite expensive for many home owners. If you are looking for the most suitable product for you, best thing to do is to speak to a broker to help you arrange your purchase or remortgage. We are happy to help with your enquiries.

  • Homes for Ukraine vs mortgage terms

    If you have signed up for Homes For Ukraine scheme and your house is on mortgage, you need to read this Did you know that generally, if you have a residential mortgage and you plan to take on a lodger, you should check what your lender thinks about it, and your home insurance provider should be notified about this too? Some lenders don't mind, and some will not accept lodgers in the property. If you want to let the whole property that is on a residential mortgage, you need to get a consent to let first as again, there may be restrictions. Alternatively you might need a buy to let mortgage. Recently, many people signed up for the Homes for Ukraine scheme , offering rooms or even whole properties to the refugees. Some lenders have already announced their stance on this matter and from what we have seen lenders have turned out very supportive but they have conditions that need to be met. It is recommended to check with your lender if you wish to become a sponsor under the Homes For Ukraine Scheme.

  • Changes to mortgage affordability assessments

    ‘How much can I borrow?’ is one of the most often asked questions by first time home buyers and movers. With increasing property prices and rising cost of living, no wonder buyers scratch their head thinking if they will be able to get the mortgage amount they need! With the most recent energy price changes and higher cost of living, lenders have already started updating their affordability calculators, which may mean some buyers may struggle to get the loan they have hoped for. How much you can borrow may depend on several factors: your earnings, your expenditures, your credit file information, dependants and your employment status (employed/self-employed/contractor). It is more and more complex to figure out how much exactly you could borrow to buy a house. However, brokers have excellent tools to show you the whole scope of lenders’ affordability and these tools are quite precise so you will know what house price range to look at. Don’t just guess or estimate as you might be very disappointed. Don’t risk! Ask a qualified broker for help with affordability assessment and go out confidently to look for your dream home. If you have any questions, we are here to help.

  • WHAT TO EXPECT WHEN YOU'RE EXPECTING?

    How could expecting a baby or being on maternity/paternity leave affect your mortgage application? First of all, don’t worry as expecting a baby doesn’t always mean you can't get a mortgage. We have helped many pregnant mums as well as many parents on leave to get mortgages offered. As always, it is about your income and expenditure when you have had the baby, what plans you have with regards to return to work and what childcare costs, if any, you will be paying for. Every single lender has a specific criteria about maternity/paternity leave pay. Although having a baby is a personal matter, it affects us in a material way therefore this should be discussed with the lender upfront so we actually select the right lender for you. Like with being pregnant, when getting a mortgage, complications may sometimes happen and you had better be under a professional care then. If you have an adviser, you can just enjoy the process If you are planning to buy a house and wish to have a chat, we are here to help.

  • COULDJOINT BORROWER SOLE PROPRIETOR MORTGAGE HELP YOU?

    What could be the benefits of buying jointly with a parent? With current house prices on the increase, many First Time Buyers may be struggling on their income alone to buy their dream home. One young person’s salary may not be enough to get a mortgage. Sometimes even two is not enough… Joint Borrower Sole Proprietor Mortgage might just be the right solution to the problem! A parent could join in the mortgage application with their income to boost affordability so their child(ren) can get on to the property ladder. The joining parent doesn’t need to be the legal owner of the house so there won’t be tax liability for them. They will however be responsible for mortgage repayment. Please bear in mind that as every case is different, it is best to speak to a qualified broker first. Contact us if you have any questions.

  • Could you build your own home with the new Government Scheme?!

    Wouldn’t it be great to BUILD your own home with just 5% of own deposit?! A new Government scheme called HELP TO BUILD that will be available in England, will make this possible for many people. With just 5% deposit and up to 20% (40% in London) of Equity Government Loan, you may be able to get a mortgage to actually build your own home. How good could it be to chose your own location and design?! The equity loan offered will be based on estimated costs to buy land and build a home. For more information go to : https://www.ownyourhome.gov.uk/scheme/help-to-build/

  • What are the benefits of remortgage?

    💷Saving – if your house value has increased and your mortgage balance is less than initially, you might be able to get a better interest rate and save on your monthly payments 💰Extra Capital - You might be able to borrow more for other purposes, e.g. new property investment, home improvements, etc. ⏳Time - You might be able to look to reduce your mortgage term and repay your mortgage sooner than initially expected Whether you are on a variable product or in a fixed deal expiring within the next few months, best thing you can do is to discuss your remortgage with a broker.📞 Let us know if you have any questions.

  • Why would you re-mortgage?!

    Every year your mortgage balance is different ,as well as your property can go up or down in value. Re-mortgage is therefore a great opportunity for you to check if you might qualify for a better product, compared to the one you have been on. You could re-mortgage not only if your fixed deal is about to expire but if you are a variable interest rate, you can secure a fix deal too. Best thing to do is to contact a qualified mortgage adviser to help you select the most suitable solution for you. Why not book your re-mortgage appointment with us?

  • Can I let my home if I have a residential mortgage?

    When you buy a house, you need to decide if you will live in it or if you have the intention of letting it out. You must declare the truth as otherwise you might end up with the incorrect mortgage type or worse, in breach of a mortgage agreement and in big trouble! In general, a residential mortgage means you have to live in the property and a buy to let mortgage means you should not live in there but others can rent it from you. Can you let your home if it is on a residential mortgage then?! Yes, there are ways to do this, but it will depend on some specific aspects of your case! First of all, it will depend on whether your current lender can give you a consent to let. You have to ask for this and not just assume that the lender will be fine with you moving out and letting other people live in the house! Secondly, if you have got lender’s consent, you must let your home insurance provider know as your policy could go void if you don’t. If you live on your own and have a spare bedroom, there may be an option to let it to a lodger. There are lenders that will allow you to let to a lodger but some lenders won’t, so you need to ask the lender for permission and, as above, let the insurance firm know. There are certain rules around having lodgers so look out for another article on this. Finally, if you know you need to permanently move out of your residential house, then best look into transferring a residential mortgage into a buy to let one or to carry out a let to buy transaction. Whether you qualify to do this may be dependent upon many things so one thing you should do before you take any other steps is to speak to a broker! We encourage you to listen to an adviser rather than a neighbour, friend or other people who may not be suitably qualified to give advice. They may have some experiences, but these may not necessarily reflect what lenders allow. If you want to do things right, book an appointment with a broker. If you have any questions, do not hesitate to contact us.

Contact details

GRN Financial Services

Mortgage broker

15 Bath Street,

Leek

ST13 6JQ 

Visit our social channels

  • facebook
  • linkedin

Search our website for helpful articles 

Plastic Free Champion Logo.png

REMEMBER! YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

OUR FEES and charges vary depending on the services we provide to you. We typically charge a fee of £499 payable on mortgage offer.

Some of the products/services shown are not or may not be regulated by the Financial Conduct Authority.

GRN Financial Services Ltd is a company registered in England and Wales. Registered number: 11200120. Registered office: 15 Bath Street, Leek, Staffordshire, ST13 6JQ. GRN Financial Services Limited is an appointed representative of PRIMIS Mortgage Network, a trading name of Personal Touch Financial Services Ltd. Personal Touch Financial Services Ltd is authorised and regulated by the Financial Conduct Authority. GRN Financial Services Ltd accepts no responsibility for any loss or damage resulting directly or indirectly from the use of the content on this website. The content of this website is aimed at UK based customers only.

© GRN Financial Services

33C LOGO.jpg
bottom of page