‘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! […]
Month: November 2018
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. […]