Wow, another year gone! Time is flying by and it’s certainly a case of ‘blink and you’ll miss it’! 2018 has been pretty flat with a predicted overall mortgage volume of circa £260bn, slightly up on 2017. Next year is predicted to be much the same, but with the current shenanigans around Brexit, who knows what will […]
Year: 2018
Coming to the end of your product term? Be wary….
As I have said before and with the run up to year end, lenders have been actively looking at their offerings and loosening their criteria, positively. Some rates have even been reduced and nearly all re-mortgage deals now come with a contribution to valuations and legal fees to keep the cost of changing lenders to a […]
‘How much can I borrow?’
‘How much can I borrow’ tends to be the most asked question of anyone at AToM! Only a few years ago, that could easily have been up to 8 x income with the minimal of fuss subject of course to loan to value and certainty of income! Oh, how things have changed, and rightly so! […]
What’s available for your first property purchase?
Looking at purchasing your first property? First Time Buyers will usually require a minimum 5% deposit, but product availability increases with a 10%+ deposit. Some lenders will allow a 5% builders deposit, but this must be confirmed as a gift and non-repayable. Some lenders will allow the deposit to come as a gift from the […]
Looking at a property project? Refurb to Let…
Looking for a property project? Just because a property is run down or even classed as ‘uninhabitable’, does not mean you cannot get a mortgage on it. Or, if you are intending to purchase a property to let out, but it’s currently in an ‘unlettable’ condition. Lenders will cater for these scenarios (dependant on the […]
Complex scenarios are common in the mortgage market.
The high street lenders tend to only deal with pretty straight forward scenarios. So, you will need to fit their standard credit score requirements, meet their standard income multiples and, in the main, simply be easy to deal with. However, we all know that not everyone fits this ‘ideal client’ picture. Complex scenarios are on […]
Another budget over and some good news for First Time Buyers!
Well that was not the most of exciting of Budgets, although it could have been a lot worse. It does seem like the spending taps have been turned slightly on, rather than off! On the up side, Stamp Duty Relief has been extended to first time buyers purchasing shared ownership homes valued up to £500k. […]
HMO Licences taking up to 9 months…
If you have a House of Multiple Occupation (HMO), you should now be aware of the rules that came in to effect on 1st October. You also be aware that some councils are behind already on the licence applications with one rumoured to be nine months behind! To recap – any property with five or […]
Affordability is the key to you achieving the right loan.
The lenders main area in deciding whether to lend to you, or not, is on your ability to pay the mortgage both today and also in the future. It’s difficult to detail when I have a limited word count, but in the main, lenders will stress test all mortgages against a possible rate rise and underwrite […]
The maximum loan achievable on a Buy to Let is a complex calculation.
AToM exhibited at the Property Investor and Homebuyers show at the London ExCel last weekend. It was a great opportunity to talk to professional landlords, as well as those looking to make their first steps in to the buy to let sector. With many changes and increases in taxation on profits being introduced over the […]