The world has gone Carpool Karaoke crazy! Celebrity James Corden has had a number of top celebrities, including Adele and Michelle Obama, in his passenger seat to sing along to an array of hits. In celebration of our 25th anniversary, the AToM team have filmed a rendition of the Madness classic ‘Our House’ and this is available for your viewing pleasure on our Facebook page (www.facebook.com/atommortgages). Hope you enjoy it, as much as we did filming it!!
In other news this week, a number of new products have been launched as lenders have a big push to finish the year on a high.
Our good friends at Precise Mortgages have launched a Right to Buy range for those eligible to buy their rented property at a discounted price from their council or housing association. Allowing up to 100% of the purchase price, this is a great offering from the lender as it also allows an element of credit issues, with some defaults and CCJs accepted (Terms apply).
Investment Properties, Buy to Lets, usually have the mortgage loan available calculated based on the rental generated by the property. Usually this is calculated at 145% of the mortgage on a nominal rate of 5.25%. However, new lender, Foundation Homeloans, has launched a 5 year fixed rate at 3.45% and can calculate the loan based on this rate and 125%, if buying in a limited company. It changes to 145% if in a personal name.
Finally, a number of lenders have reduced rates for customers looking to buy a new build property. Whether it be a house or flat, lenders will assist assuming it has the right building guarantees and will even consider if the builder has an incentive offer, such as contribution towards deposits or stamp duty. Some of the new build properties around the area are also eligible for Shared Ownership. This involves the purchase of a smaller share of the property, whilst renting the remainder. Normally there is an option to purchase the remaining share at a later date. Explore all the options available to you.