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, some specialist mortgage brokers can help with and advise on what you need to provide to secure these mortgages. So, what do you need to take…
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. 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 second-charge…
Often people are nervous about using a broker whilst looking to secure the best mortgage deal because they are put off by the worry of additional costs. Whilst using a broker can carry a fee and seem a slightly more expensive option in the short…
So firstly, what is a mortgage? A mortgage is a loan, secured on a property. It is a way to borrow money from a lender, with the money lent used to purchase a house, with a contractual promise for this to be paid back over…
There are three options available when selecting a mortgage product in the UK: Fixed Variable Tracker But what is the difference, and what does this mean? Fixed The first is Fixed Mortgages – and by “Fixed”, this means the rates are fixed and the price…