Mortgage Advice for Couples Planning a Divorce, Dave The Mortgage Broker, mortgage advice.#Mortgage #advice


Mortgage Advice for Couples Planning a Divorce

When couples decide to divorce, financial assets accumulated while together must be equitably divided and in many cases, the most substantial shared asset is the matrimonial hMortgage adviceome. While each spouse is usually entitled to 50% of the accumulated home equity (minus the amounts contributed by each spouse individually when the home was purchased), if the property isn’t sold, one side will almost always buy out the other. In today’s post I’ll offer some mortgage tips to divorcées in general, and I’ll provide specific mortgage advice to divorcing spouses who are planning to buy their ex-spouse’s share of their current home. Before we get into specifics, here are three tips that every divorcing spouse should read. First, make sure you keep paying your bills throughout your settlement period. While I appreciate the raw emotions involved in working through a divorce, refusing to pay joint bills is literally cutting off your nose to spite your face. Recent slow or missed payments will make it either prohibitively expensive or downright impossible to qualify for mortgage financing in the foreseeable future. The best advice I can give you is to make sure that all of the bills are paid (you can seek reimbursement for the expenses your spouse should have covered during the settlement phase, so keep your receipts!)

Second, separate your joint accounts as soon as possible and check your credit report to ensure that you did not miss anything. Regardless of what you and your ex-spouse have agreed about who is responsible for paying what bill, a missed payment on a joint account will hurt both your credit ratings equally. Also, if all or most of your credit has been in your spouse’s name, set up your own accounts as quickly as possible because it is much easier to get approved for a mortgage with an established credit history.

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Third, since no lender will provide you with a mortgage until all of your future financial obligations can be clearly understood, complete your separation/divorce agreement as a matter of priority. Also, because your soon-to-be ex-spouse can make a claim against any of your assets, lenders will not risk such a claim on your new home while divorce proceedings are still underway.

More specifically, if you are looking to buy out your former husband/wife’s share of the matrimonial home, the first step is to agree on the property’s current market value. This can be done by hiring an appraiser, and/or speaking with real estate agents who are mutually accepted as trusted resources. If an agreement on price can be reached, the net equity in the home can then be calculated by subtracting any debts secured against the property along with the estimated costs of disposition (selling costs are included because they must be incurred in order to liquidate the property). If a price cannot be mutually agreed upon, the house will normally be listed for sale and either spouse may bid on it in the open market.

No matter how the current value of your home is established, the spouse who wishes to purchase the property must be able to afford the required mortgage, and qualifying on a single income can be difficult (for help with this question, try my calculator called How much can I qualify for? ). When inputting your annual income, remember that if your finalized separation/divorce agreement indicates that you are eligible for alimony or child support payments,Mortgage advice these amounts can be added to your employment income. Conversely, if you are responsible for making these payments, the lender will include them as part of your ongoing expenses. (Note: Even though alimony is tax deductible for the paying spouse, lenders will include the gross amount in their debt-servicing calculations.) If after taking this step the numbers still aren’t looking good, keep in mind that there are more flexible mortgage solutions available (feel free to contact me to discuss your individual circumstances).

Lastly, if your spouse is buying out your equity in the matrimonial home, get confirmation from the lender in writing that you are no longer registered on the mortgage, and keep in mind that simply being taken off the property’s title is not the same thing. Until you have this proof in hand, you could still be on the hook for the outstanding mortgage balance for a house you no longer own.

While getting throughMortgage advice a divorce is often unpleasant and expensive, getting good mortgage advice can at least help save you money and unnecessary hassle. To ensure that you are left in the best possible position, try to involve your chosen independent mortgage planner as early in the process as possible, because you’ll be surprised at the difference we can make, especially when given a little time.

(Please note: You should not make any final decisions related to your separation/divorce without the advice of a lawyer. Although I can explain the concepts, point you in the right direction and provide the appropriate mortgage advice, I am not a legal expert.)


Different Types of Mortgage Loans Explained – 2017 Update, mortgage advice.#Mortgage #advice


The Different Types of Mortgage Loans in 2017, Explained

By Brandon Cornett | 2017, all rights reserved | Duplication prohibited

What are the different types of mortgage loans available to home buyers in 2017, and what are the pros and cons of each? This is one of the most common questions we receive here at the Home Buying Institute. This page offers some basic information about the types of loans available in 2017. Follow the hyperlinks provided for even more information. And be sure to send us your questions!

Mortgage advice

Loan Reps Are Standing By

Did you know you can get free, no-obligation mortgage quotes online? It’s a great way to get the ball rolling.

If you already understand the basic types of home loans, and you’re ready to move forward with the process, use one of the links provided below. Otherwise, keep reading below to learn about the different financing options available in 2017. You can always come back to these links later on.

Types of Mortgages Available in 2017, Explained

There are many different types of mortgages available to home buyers. They are all thoroughly explained on this website. But here, for the sake of simplicity, we have boiled it all down to the following options and categories.

Option 1: Fixed vs. Adjustable Rate

As a borrower, one of your first choices is whether you want a fixed-rate or an adjustable-rate mortgage loan. All loans fit into one of these two categories, or a combination hybrid category. Here’s the primary difference between the two types:

  • Fixed-rate mortgage loans have the same interest rate for the entire repayment term. Because of this, the size of your monthly payment will stay the same, month after month, and year after year. It will never change. This is true even for long-term financing options, such as the 30-year fixed-rate loan. It has the same interest rate, and the same monthly payment, for the entire term.
  • Adjustable-rate mortgage loans (ARMs) have an interest rate that will change or adjust from time to time. Typically, the rate on an ARM will change every year after an initial period of remaining fixed. It is therefore referred to as a hybrid product. A hybrid ARM loan is one that starts off with a fixed or unchanging interest rate, before switching over to an adjustable rate. For instance, the 5/1 ARM loan carries a fixed rate of interest for the first five years, after which it begins to adjust every one year, or annually. That’s what the 5 and the 1 signify in the name.

As you might imagine, both of these types of mortgages have certain pros and cons associated with them. Use the link above for a side-by-side comparison of these pros and cons. Here they are in a nutshell: The ARM loan starts off with a lower rate than the fixed type of loan, but it has the uncertainty of adjustments later on. With an adjustable mortgage product, the rate and monthly payments can rise over time. The primary benefit of a fixed loan is that the rate and monthly payments never change. But you will pay for that stability through higher interest charges, when compared to the initial rate of an ARM.

Option 2: Government-Insured vs. Conventional Loans

So you’ll have to choose between a fixed and adjustable-rate type of mortgage, as explained in the previous section. But there are other choices as well. You’ll also have to decide whether you want to use a government-insured home loan (such as FHA or VA), or a conventional regular type of loan. The differences between these two mortgage types are covered below.

A conventional home loan is one that is not insured or guaranteed by the federal government in any way. This distinguishes it from the three government-backed mortgage types explained below (FHA, VA and USDA).

Government-insured home loans include the following:

The Federal Housing Administration (FHA) mortgage insurance program is managed by the Department of Housing and Urban Development (HUD), which is a department of the federal government. FHA loans are available to all types of borrowers, not just first-time buyers. The government insures the lender against losses that might result from borrower default. Advantage: This program allows you to make a down payment as low as 3.5% of the purchase price. Disadvantage: You’ll have to pay for mortgage insurance, which will increase the size of your monthly payments.

The U.S. Department of Veterans Affairs (VA) offers a loan program to military service members and their families. Similar to the FHA program, these types of mortgages are guaranteed by the federal government. This means the VA will reimburse the lender for any losses that may result from borrower default. The primary advantage of this program (and it’s a big one) is that borrowers can receive 100% financing for the purchase of a home. That means no down payment whatsoever.

USDA / RHS Loans

The United States Department of Agriculture (USDA) offers a loan program for rural borrowers who meet certain income requirements. The program is managed by the Rural Housing Service (RHS), which is part of the Department of Agriculture. This type of mortgage loan is offered to rural residents who have a steady, low or modest income, and yet are unable to obtain adequate housing through conventional financing. Income must be no higher than 115% of the adjusted area median income [AMI]. The AMI varies by county. See the link below for details.

Combining: It’s important to note that borrowers can combine the types of mortgage types explained above. For example, you might choose an FHA loan with a fixed interest rate, or a conventional home loan with an adjustable rate (ARM).

Option 3: Jumbo vs. Conforming Loan

There is another distinction that needs to be made, and it’s based on the size of the loan. Depending on the amount you are trying to borrow, you might fall into either the jumbo or conforming category. Here’s the difference between these two mortgage types.

  • A conforming loan is one that meets the underwriting guidelines of Fannie Mae or Freddie Mac, particularly where size is concerned. Fannie and Freddie are the two government-controlled corporations that purchase and sell mortgage-backed securities (MBS). Simply put, they buy loans from the lenders who generate them, and then sell them to investors via Wall Street. A conforming loan falls within their maximum size limits, and otherwise conforms to pre-established criteria.
  • A jumbo loan, on the other hand, exceeds the conforming loan limits established by Fannie Mae and Freddie Mac. This type of mortgage represents a higher risk for the lender, mainly due to its size. As a result, jumbo borrowers typically must have excellent credit and larger down payments, when compared to conforming loans. Interest rates are generally higher with the jumbo products, as well.

This page explains the different types of mortgage loans available in 2017. But it only provides a brief overview of each type. Follow the hyperlinks provided above to learn more about each option. We also encourage you to continue your research beyond this website. Education is the key to making smart decisions, as a home buyer or mortgage shopper.


Spanish Mortgage advice from 24hr decision, mortgage advice.#Mortgage #advice


Spanish Mortgages for property purchase in Spain

Apply now for your Low Rate Spanish Mortgage

with the largest independent mortgage group in Spain

A complete mortgage solution for your property purchase in Spain and provide you with the best independent advice available. Find the best Spanish mortgage for you first time, RIGHT NOW!

Free, independent, whole of market advice.

Fill in the form below and we´ll do the rest!

  • Low broker fee (495€) and we do ALL the work for you
  • Bank Repossessions and distressed sales with 100% mortgages (contact us for more details)

  • Rates from Euribor +2.75% giving overall rate of 3.5% the lowest on the market
  • 2 years interest only mortgages at 50% of purchase price

  • 20 Spanish mortgage lenders
  • Over 30 Spanish mortgage products
  • We deal with more than 20 Spanish banks and have access to more than 30 Spanish mortgage products

    For the best advice and lowest Spanish mortgage rates fill in our quick contact form above and one of our advisors will contact you to discuss your options.

    Spanish mortgages are available at up to 70% of the purchase price or valuation, whichever is the lower.

    Unfortunately the following types of mortgage applications in Spain will not be successful:

    • Self-cert clients with unprovable income
    • Clients with bad credit in their home country
    • Clients wishing to purchase more than 2 properties in Spain
    • Residents who show no income (paid in cash)
    • Clients over the age of 65

    Even during the economic crisis there are many banks which still offer mortgages to non residents purchasing property in Spain. But there are also lots of banks advertising mortgages in their windows who will not offer decent mortgages to non residents. Most of the headline rates you see will be for Spanish residents.

    Unfortunately there are no Best buy tables published in Spain that apply to non-resident buyers either which is why it pays to have a professional and experienced mortgage broker shop around for you. Int he current environment this is not just to find you the best interest rate but to just make sure that there is actually a mortgage out there that gives you what you need be it the length of term, the amount you need to borrow, a mortgage on a specific type of property etc.

    Once we can confirm that you are actually eligible for a Spanish mortgage then we can tell you what sort of documentation require. This varies depending on how you derive your income. Employed applicants have very different requirements to Self employed clients. Many of our clients are expatriates working offshore in places such as France, Switzerland, Dubai, Kazakhstan, Canada, the USA, Russia etc. Many Spanish banks will not know where to start with such an application and such will spend a bit of time trying to determine what documents to ask for before turning you down. Others can be worse, going through the entire application process, including collecting all of your documentation before deciding they can only lend you a very small amount or worse still nothing at all!

    So don´t waste weeks and months of your time (especially when you may have a completion deadline) trying to arrange your own Spanish mortgage in a country whose financial services market you are completely unfamiliar with when we can provide with all of the mortgage advice you require immediately and for a very low fee which is only payable if you obtain a mortgage.

    Mortgage advice


    Mortgage advice, mortgage advice.#Mortgage #advice


    Get the best mortgage deal

    Mortgage Comparison Chart

    We offer a wide range of mortgages including buy to let remortgage and purchase products and we also have access to exclusive deals not available on the open market.

    We will search 100 s of products to find you the best mortgage deal.

    Here at Right-Advice Mortgage Consultancy Ltd we appreciate finding the right home is as important as finding the right mortgage.

    We have established relationships with partner organisations such as MovingMe so their clients can also benefit from our professional mortgage advice service.

    Whether you are an existing or new client we have qualified advisers ready to assist you.

    ESTAS

    The ESTAS is the largest independent customer service awards scheme for estate agents, homebuilders, mortgage brokers and conveyancers in the UK property industry.

    The ESTAS are unique because shortlisted and winning agents are selected purely on ratings from customers like you.

    As an ESTA Agent we are committed to giving you, the customer, the best possible service we can. Whatever your experience with us, you’ll have the opportunity to complete a questionnaire which will help us to be recognised for our efforts and provide us with valuable feedback so we can develop our service for future customers.

    To find out more visit theestas.com

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    Important Information

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

    There may be a fee charged for mortgage advice, the amount will depend on your circumstances but we estimate this to be no more than 1.0% of the loan arranged.

    Right-Advice Mortgage Consultancy Ltd is an Appointed Representative of Mortgage Intelligence Ltd which is authorised and regulated by the Financial Conduct Authority under number 305330 in respect of mortgage, insurance and consumer credit mediation activities only.


    Different Types of Mortgage Loans Explained – 2017 Update, mortgage advice.#Mortgage #advice


    The Different Types of Mortgage Loans in 2017, Explained

    By Brandon Cornett | 2017, all rights reserved | Duplication prohibited

    What are the different types of mortgage loans available to home buyers in 2017, and what are the pros and cons of each? This is one of the most common questions we receive here at the Home Buying Institute. This page offers some basic information about the types of loans available in 2017. Follow the hyperlinks provided for even more information. And be sure to send us your questions!

    Mortgage advice

    Loan Reps Are Standing By

    Did you know you can get free, no-obligation mortgage quotes online? It’s a great way to get the ball rolling.

    If you already understand the basic types of home loans, and you’re ready to move forward with the process, use one of the links provided below. Otherwise, keep reading below to learn about the different financing options available in 2017. You can always come back to these links later on.

    Types of Mortgages Available in 2017, Explained

    There are many different types of mortgages available to home buyers. They are all thoroughly explained on this website. But here, for the sake of simplicity, we have boiled it all down to the following options and categories.

    Option 1: Fixed vs. Adjustable Rate

    As a borrower, one of your first choices is whether you want a fixed-rate or an adjustable-rate mortgage loan. All loans fit into one of these two categories, or a combination hybrid category. Here’s the primary difference between the two types:

    • Fixed-rate mortgage loans have the same interest rate for the entire repayment term. Because of this, the size of your monthly payment will stay the same, month after month, and year after year. It will never change. This is true even for long-term financing options, such as the 30-year fixed-rate loan. It has the same interest rate, and the same monthly payment, for the entire term.
    • Adjustable-rate mortgage loans (ARMs) have an interest rate that will change or adjust from time to time. Typically, the rate on an ARM will change every year after an initial period of remaining fixed. It is therefore referred to as a hybrid product. A hybrid ARM loan is one that starts off with a fixed or unchanging interest rate, before switching over to an adjustable rate. For instance, the 5/1 ARM loan carries a fixed rate of interest for the first five years, after which it begins to adjust every one year, or annually. That’s what the 5 and the 1 signify in the name.

    As you might imagine, both of these types of mortgages have certain pros and cons associated with them. Use the link above for a side-by-side comparison of these pros and cons. Here they are in a nutshell: The ARM loan starts off with a lower rate than the fixed type of loan, but it has the uncertainty of adjustments later on. With an adjustable mortgage product, the rate and monthly payments can rise over time. The primary benefit of a fixed loan is that the rate and monthly payments never change. But you will pay for that stability through higher interest charges, when compared to the initial rate of an ARM.

    Option 2: Government-Insured vs. Conventional Loans

    So you’ll have to choose between a fixed and adjustable-rate type of mortgage, as explained in the previous section. But there are other choices as well. You’ll also have to decide whether you want to use a government-insured home loan (such as FHA or VA), or a conventional regular type of loan. The differences between these two mortgage types are covered below.

    A conventional home loan is one that is not insured or guaranteed by the federal government in any way. This distinguishes it from the three government-backed mortgage types explained below (FHA, VA and USDA).

    Government-insured home loans include the following:

    The Federal Housing Administration (FHA) mortgage insurance program is managed by the Department of Housing and Urban Development (HUD), which is a department of the federal government. FHA loans are available to all types of borrowers, not just first-time buyers. The government insures the lender against losses that might result from borrower default. Advantage: This program allows you to make a down payment as low as 3.5% of the purchase price. Disadvantage: You’ll have to pay for mortgage insurance, which will increase the size of your monthly payments.

    The U.S. Department of Veterans Affairs (VA) offers a loan program to military service members and their families. Similar to the FHA program, these types of mortgages are guaranteed by the federal government. This means the VA will reimburse the lender for any losses that may result from borrower default. The primary advantage of this program (and it’s a big one) is that borrowers can receive 100% financing for the purchase of a home. That means no down payment whatsoever.

    USDA / RHS Loans

    The United States Department of Agriculture (USDA) offers a loan program for rural borrowers who meet certain income requirements. The program is managed by the Rural Housing Service (RHS), which is part of the Department of Agriculture. This type of mortgage loan is offered to rural residents who have a steady, low or modest income, and yet are unable to obtain adequate housing through conventional financing. Income must be no higher than 115% of the adjusted area median income [AMI]. The AMI varies by county. See the link below for details.

    Combining: It’s important to note that borrowers can combine the types of mortgage types explained above. For example, you might choose an FHA loan with a fixed interest rate, or a conventional home loan with an adjustable rate (ARM).

    Option 3: Jumbo vs. Conforming Loan

    There is another distinction that needs to be made, and it’s based on the size of the loan. Depending on the amount you are trying to borrow, you might fall into either the jumbo or conforming category. Here’s the difference between these two mortgage types.

    • A conforming loan is one that meets the underwriting guidelines of Fannie Mae or Freddie Mac, particularly where size is concerned. Fannie and Freddie are the two government-controlled corporations that purchase and sell mortgage-backed securities (MBS). Simply put, they buy loans from the lenders who generate them, and then sell them to investors via Wall Street. A conforming loan falls within their maximum size limits, and otherwise conforms to pre-established criteria.
    • A jumbo loan, on the other hand, exceeds the conforming loan limits established by Fannie Mae and Freddie Mac. This type of mortgage represents a higher risk for the lender, mainly due to its size. As a result, jumbo borrowers typically must have excellent credit and larger down payments, when compared to conforming loans. Interest rates are generally higher with the jumbo products, as well.

    This page explains the different types of mortgage loans available in 2017. But it only provides a brief overview of each type. Follow the hyperlinks provided above to learn more about each option. We also encourage you to continue your research beyond this website. Education is the key to making smart decisions, as a home buyer or mortgage shopper.


    Independent mortgage broker, Mortgage Advice, Enhanced Wealth Ltd Kent, mortgage advice.#Mortgage #advice


    Enhanced Wealth Limited

    Whole of market mortgage brokers

    CALL US 0800 316 5756

    Straight talking mortgage advice

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    Here we will provide some details on life cover, life insurance cover, mortgage protection life insurance and critical illness cover. People need More

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    Holiday let mortgages or holiday home mortgages can be hard to arrange and tend to be excluded from standard buy to let mortgage schemes. The main More

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    Commercial mortgages and commercial loans are used in a wide variety of situations and not all of these will require the borrower to be a company or More

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    Do you need help finding the right mortgage ? Then relax because your mortgage search is over. We are UK mortgage experts and just as importantly we More

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    Enhanced Wealth Limited is a modern Independent Mortgage Broker, with traditional values

    Our Mortgage Brokers are all fully qualified and experienced, so you can be assured that your case will handled with skill, care and due diligence.

    We provide expert mortgage advice to cater for most property finance requirements, including first time buyers, those moving home or refinancing, landlords and property investors.

    As an Independent Mortgage Broker our advisers are not restricted to a limited number of lenders.

    We are able to search far and wide including the Broker only deals, in order to secure you the best mortgage offer available for your circumstances.

    We will always give you an honest opinion of what is possible which may sometimes involve doing absolutely nothing at all.

    Our service extends to all mortgage types so please take a look through our website to see what we have to offer. When you are ready just call us on 0800 316 5756 and we’ll get to work.

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    No babble, or waffle, just straight talking advice

    We will always give you an honest assessment of your mortgage options with all of the costs involved. If you decide to go ahead we will also help with all of the paperwork.

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    Spanish Mortgage advice from 24hr decision, mortgage advice.#Mortgage #advice


    Spanish Mortgages for property purchase in Spain

    Apply now for your Low Rate Spanish Mortgage

    with the largest independent mortgage group in Spain

    A complete mortgage solution for your property purchase in Spain and provide you with the best independent advice available. Find the best Spanish mortgage for you first time, RIGHT NOW!

    Free, independent, whole of market advice.

    Fill in the form below and we´ll do the rest!

    • Low broker fee (495€) and we do ALL the work for you
    • Bank Repossessions and distressed sales with 100% mortgages (contact us for more details)

  • Rates from Euribor +2.75% giving overall rate of 3.5% the lowest on the market
  • 2 years interest only mortgages at 50% of purchase price

  • 20 Spanish mortgage lenders
  • Over 30 Spanish mortgage products
  • We deal with more than 20 Spanish banks and have access to more than 30 Spanish mortgage products

    For the best advice and lowest Spanish mortgage rates fill in our quick contact form above and one of our advisors will contact you to discuss your options.

    Spanish mortgages are available at up to 70% of the purchase price or valuation, whichever is the lower.

    Unfortunately the following types of mortgage applications in Spain will not be successful:

    • Self-cert clients with unprovable income
    • Clients with bad credit in their home country
    • Clients wishing to purchase more than 2 properties in Spain
    • Residents who show no income (paid in cash)
    • Clients over the age of 65

    Even during the economic crisis there are many banks which still offer mortgages to non residents purchasing property in Spain. But there are also lots of banks advertising mortgages in their windows who will not offer decent mortgages to non residents. Most of the headline rates you see will be for Spanish residents.

    Unfortunately there are no Best buy tables published in Spain that apply to non-resident buyers either which is why it pays to have a professional and experienced mortgage broker shop around for you. Int he current environment this is not just to find you the best interest rate but to just make sure that there is actually a mortgage out there that gives you what you need be it the length of term, the amount you need to borrow, a mortgage on a specific type of property etc.

    Once we can confirm that you are actually eligible for a Spanish mortgage then we can tell you what sort of documentation require. This varies depending on how you derive your income. Employed applicants have very different requirements to Self employed clients. Many of our clients are expatriates working offshore in places such as France, Switzerland, Dubai, Kazakhstan, Canada, the USA, Russia etc. Many Spanish banks will not know where to start with such an application and such will spend a bit of time trying to determine what documents to ask for before turning you down. Others can be worse, going through the entire application process, including collecting all of your documentation before deciding they can only lend you a very small amount or worse still nothing at all!

    So don´t waste weeks and months of your time (especially when you may have a completion deadline) trying to arrange your own Spanish mortgage in a country whose financial services market you are completely unfamiliar with when we can provide with all of the mortgage advice you require immediately and for a very low fee which is only payable if you obtain a mortgage.

    Mortgage advice


    Mortgage Advice and Information on Home Financing, mortgage advice.#Mortgage #advice


    Mortgage – Buying your first home?

    Mortgage advice

    Determine the monthly payments for any fixed-rate loan. Just enter the amount and terms, and our mortgage calculator does the rest.

    Mortgage Advice

    Borrowers applying for a mortgage now get a five-page form designed to make home loans easier to understand before the deal is finalized.

    November 15th 2017

    Would you like to buy a home but worry that you’d never qualify for a mortgage? It’s time to stop guessing and evaluate your chances to land a loan based on everything from how much you make to your credit score. Believe it or not, the odds are in your favor.

    November 14th 2017

    Lending money to your child is risky business. But if you can avoid the personal pitfalls and convince the federal government that this is really a loan, and not a gift, the Bank of Mom and Dad can be a financial boon for everyone in the family.

    November 13th 2017

    It’s not enough to find a good location at an affordable price. Condo buyers must consider lots of extra costs, from association fees and special assessments to how well the building is maintained and how strictly it enforces rules on everything from noise to pets.

    November 10th 2017

    You’ve scouted out the best mortgage rate and fought hard to get the best price on your new home. But your bargaining shouldn’t stop there. Here’s how you can save on everything from settlement fees to title insurance.

    November 8th 2017

    Borrowers are receiving a new form called a Loan Estimate after they apply for a mortgage. It explains the key terms, from interest rates to closing costs, and ensures you’re getting the home loan your lender promised.

    November 2nd 2017

    Paying points to get a lower interest rate is almost always a losing proposition because most homeowners don’t keep their loans long enough to recoup the up-front costs. Are you an exception to the rule?

    November 1st 2017

    A low estimate causes about 1 in every 10 home sales to fall through each month, agents report. Here’s what to do when an appraisal of your home’s value seems to miss the mark.

    October 25th 2017

    Can a reverse mortgage help you? Before utilizing it as a tool, take time to thoroughly understand reverse mortgage disadvantages and advantages.

    October 23rd 2017

    Deals on foreclosures are still out there. But they’re not as easy to find as they were a few years ago, and you still need to avoid all of the costly pitfalls that can turn any repossessed home into a burden, not a bargain.


    Independent Mortgage Advice Mortgage Broker Ipswich Woodbridge Suffolk, mortgage advice.#Mortgage #advice


    Independent Mortgage Advice

    Based in Woodbridge Ipswich, Suffolk, Keystone IMC Ltd are an independent whole of market mortgage broker. Whether you are buying a property, remortgaging, a first time buyer, buy to let investor or you are simply curious about how mortgages work, this is the site for you.

    This site is filled with lots of information designed to help anyone in the UK looking for independent mortgage advice.

    We know you probably think mortgages are not that exciting but our expert advisors love them, in fact we talk about them all day long so who better to talk to than us?

    Why Keystone IMC?

    • Independent Mortgage Advice
    • We do all the work for you from start to finish
    • Deals not available in the high street
    • We have offices in Woodbridge Ipswich
    • Experienced advisors
    • Free initial meetings without obligation
    • We explain things to you in clear English
    • We’ll review your mortgage for you forever

    What our customers have said..

    Mr Mrs Wiles – Ipswich

    With being first time buyers the whole process was handled from start to finish. We can’t thank Jason Mili.

    Mr Williams Miss Gillespie – Colchester

    Excellent service would highly recommend.

    Mr O’Gallagher – Birmingham

    You were very clear and courteous, I was very happy!

    Mr Brooks Miss Wilkinson – London

    We found all aspects of the service provided by Keystone IMC to have been excellent and would like to thank it for the.

    Mr Dewing – Rendlesham

    From initial consultation to completion I found the service I received from Keystone and especially Clare.

    Mr Mrs Daymond – Bala, Gwynedd

    At age 66 yrs the messages from our bank are not good and we nearly gave up. Then we found Keystone.

    Mr Mrs Dutfield – Woodbridge

    Very proffessional friendly and efficient service. Would definately use again.

    Mr Mrs Large – Ipswich

    We used Clare Smith as our adviser and can honestly say we could not.

    Mr Mrs Baker – Capel St Mary

    Exceptional service, we were kept informed of progress throughout our purchase.

    Mr Mrs Pearson – Felixstowe

    This firm are helpful, friendly and modern. Most important they have given us so.

    Miss Cotton Mr Self – Rendlesham

    Thank you for all your help along the way. We wish the whole team a merry christmas.

    Mr Mrs Paine – Ipswich

    Keystone and staff always very helpful. Clare has always dealt with our mortgages. She is always keen to find the best mortgage.

    Mr Strowger Miss Kinrade – Saxmundham

    Dear Jason, A big thank you for such a friendly and polite service. Now the hard work begins.

    Miss Groves – Southwold

    As a first-time buyer, buying a home can seem hugely daunting. Jason and team at Keystone made the whole process easy to.

    Mr Edwards Mrs Jarrad – Ipswich

    Fantastic. We would not hesitate to use your firm again and will certainly pass your details on. Service from our first.

    Mr Mrs Regan – Ipswich

    We recommended you to other people who are selling – JASON – A BIG THANKS!

    Mr Mrs Clodfelter – Hadleigh

    Without Clare, at Keystone, we would not be living in the house that has become our home.


    How to apply for a mortgage – Money Advice Service #mortgage #caclulator


    #apply for mortgage

    #

    How to apply for a mortgage

    When you apply for a mortgage, lenders have to make sure that you can afford your monthly repayments. Read on to learn everything you need to know about applying for a mortgage.

    How do lenders check I can afford a mortgage?

    Lenders will add up all your household income – including your basic salary and any additional income you receive from a second job, freelancing, benefits, commission or bonuses.

    Checking affordability is a much more detailed process. Lenders take all your regular household bills and outgoings into account, along with any debts such as loans and credit cards, to make sure you have enough left to cover the monthly mortgage repayments.

    They also have to ‘stress test’ whether you could still afford the mortgage if interest rates were to rise, or if you were to retire, go on maternity leave or end a fixed-term contract.

    In addition, they’ll run a credit report with a credit reference agency to take a look at your financial history and assess how much of a risk lending to you might be.

    Use our Affordability calculator to see how much you can borrow.

    How to prepare for your application

    Before applying for a mortgage, contact the three main credit reference agencies and order your credit reports. Make sure there is no incorrect information about you. You can do this online and it’s often free of charge for up to 30 days.

    Start collecting all the documents you will need for the mortgage application. This includes:

    • Your last three months’ payslips
    • P60 form from your employer
    • Bank statements of your current account for the last three to six months
    • Statements from your savings accounts
    • Proof of benefits received
    • Statement of two to three years’ accounts from an accountant if self-employed
    • Tax return form SA302 if you have earnings from more than one source or are self-employed
    • Self-employed people should look to provide information alongside their tax return, which supports what the SA302 says about their income, such as bank statements
    • Utility bills
    • Passport or driving licence (to prove your identity)

    Be accurate. Make sure the information on the application form matches the documents you supply. For example, don’t round up your salary if the amount on the payslips differ from this figure.

    Provide details of the address of the property, the estate agent and your solicitor.

    These are the basics – some lenders may ask for more paperwork. Bear in mind that lenders may have different criteria around income and outgoings. Ask your lender or independent mortgage adviser what else you may need.

    Please note, printouts of online statements of your current account and utility bills may not be acceptable. You will either need hard copies or to have copies certified by your solicitor, your bank or your utility provider.

    How you spend your money

    You might also need to show your outgoings, including how much you’re borrowing on credit cards and other loans, as well as your household bills, including council tax, utility bills, insurance policies, and general living costs such as travelling to work or school, clothing, childcare and entertainment.

    Are you remortgaging?

    If you want to increase the size of your mortgage you may also have to go through the affordability checks above, and you’ll be given advice around which mortgage products are suitable.

    If you have a mortgage and don’t want to borrow any additional money, there are more flexible arrangements. Read more about it in our guide to Remortgaging .

    Do you want an interest-only mortgage?

    Not all lenders offer interest-only mortgages. If you do apply for one, you will have to show that you have a credible repayment method in place, as well as meeting the necessary income criteria.

    Speak to a mortgage adviser

    It’s wise to speak to a range of people so you can choose the right mortgage for you. This could include lenders’ advisers or you can speak to an independent financial adviser (IFA) or mortgage broker.

    Calculate the total cost of your mortgage

    The lender or the broker will do this for you, but do make sure they fully explain all the charges and fees. including. any conditional charges and fees too, such as early repayment penalties.

    Some brokers will not charge fees for advice as they may receive a commission from the lender. In-house bank and building society advisers are also unlikely to charge a fee for their advice.

    Currently, you’re provided with an Annual Percentage Rate (APR), which shows the total yearly cost of a mortgage and is expressed as a percentage of the loan amount. From March 2016, new rules require lenders to use one or more Annual Percentage Rate of Charge (APRC) calculations instead.

    The APRC, although calculated in a very similar way, includes any fees such as valuation or redemption fees associated with your mortgage deal.

    This will give you a more thorough comparison between mortgages deals that take into account these additional associated fees.

    From March 2016, these fees and charges will be part of the calculation for the annual interest rate. This rate, which is known as the Annual Percentage Rate of Charge (APRC) should enable you to compare the total cost of one mortgage with another.

    Comparison websites are a good starting point for anyone trying to find a mortgage tailored to their needs.

    We recommend the following websites for comparing mortgages:

    • Comparison websites won’t all give you the same results, so make sure you use more than one site before making a decision.
    • It is also important to do some research into the type of product and features you need before making a purchase or changing supplier.
    • Find out more in our guide to comparison sites

    Try our Affordability calculator to see how much you may be able to borrow.

    Your next step

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