When considering to re-mortgage your property, you may want to take into consideration the cost of moving from one mortgage to another. Below we give you a snapshot of the fees you may have to pay: Arrangement and booking fee This is a fee that…
A broker cannot get you a bigger mortgage – brokers help in the facilitation of mortgages, depending on a variety of factors. It is important to remember that mortgage brokers work for the clients and not the lender. The broker will carry out relevant research…
No. Mortgage brokers will have access to lenders from across the market, and be able to advise in different situations as well as being able to provide the buyer specific advice for their circumstances. Mortgage brokers act on your behalf and are the preferred choice…
Apart from the usual things, such as deposit, your credit score, monthly repayments etc there is also the matter of legal costs, lender arrangement fees, and valuation fees. Also dependent on the value of the property you may have to pay stamp duty. Lenders will…
There are several options available to a property developer in terms of raising finance, below we list a few: Re-mortgaging – essentially this would mean re-mortgaging your property, in this instance, we will assume the property has substantial equity which can be re-mortgaged. This option…
Short answer: Yes! However, there are several factors to take into consideration when applying for a commercial mortgage. Luckily, there are specialist mortgages brokers who can help with and advise on what you need to provide to secure these mortgages. So, what do you need…
Bridging loans are generally suited to smaller development projects, in that they are leveraged against existing property. Whereas development finance is usually for large-scale projects where funds are released when various stages are completed. Renovation Bridging loans are also popular with property renovations, as they…
Bridging loans are used for many purposes, the loan is a short-term facility that is secured on property or land generally used to provide a temporary cash injection. This type of loan is useful for several reasons; however, we will focus on some of the…
You would need between a 25-35% deposit for a commercial mortgage. The deposit amount that you pay will depend on several factors, such as the type of property you intend to buy (office, shop, garage, etc). Also, what your risk level is to the lender,…
To answer this question, let’s first look at what a second-charge mortgage is? Basically speaking, it is an additional mortgage you take out on your property without having to re-mortgage your current mortgage. There are a variety of reasons why someone may take out a…