Let\u2019s not beat around the bush, it\u2019s tough out there!\u00a0 We have seen numerous local and national retail outlets and banks recently confirm they are to reduce their store or branch numbers as the \u2018online versus shop front\u2019 takes further casualties.<\/p>\n
In addition, the finance sector is also finding it tough.\u00a0 Despite already losing some lenders with funding issues, other lenders are delayed with processing mortgage cases.\u00a0 One we know is at least two full weeks behind and then a further week to produce the mortgage offer!\u00a0 Certainly something to check before you proceed with a lender, especially if you\u2019re in a rush to buy that \u2018dream home\u2019.<\/p>\n
On the plus side, it is encouraging lenders to become more innovative and think about more differentiating ways to attract new business.<\/p>\n
Our friends at United Trust Bank have launched a very limited distribution remortgage range that allows each application to be assessed on its merits and does not aspire to the \u2018one-size-fits\u2019 all mentality.\u00a0 This includes:<\/p>\n
–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0No requirement for a minimum credit score.<\/p>\n
–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0No restriction on property construction types<\/p>\n
–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0No loan to value restrictions on any flats<\/p>\n
–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0No borrower legal representation required<\/p>\n
–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0No penalties on five-year fixed rate products.<\/p>\n
–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Free valuation up to a property value of \u00a3250k.<\/p>\n
Obviously, terms and conditions apply, but this shows that lenders are thinking about unique angles to assist clients, especially with regards to remortgages and speeding up the process.<\/p>\n
With this in mind, I\u00a0feel the need to reiterate that whatever is spent on credit cards has to repaid!\u00a0 If you are looking to review your mortgage in the next few months and have loaded the credit card balance up during the Easter holiday period, remember that lenders will use the balance and offset against your income, before working out what you can borrow. That includes interest free credit cards, loans, Car HP\/PCP agreements and student loans. They are all taken in to account.<\/p>\n
Finally,\u00a0we have also seen a vast increase in customers looking to consolidate debt and add these amounts to their current mortgage. This can sometimes cause issues. If you consolidate unsecured finance into your mortgage, whilst your monthly payments may be lower, you may be paying more for your debt over a longer term.\u00a0 Always seek professional advice, read the small print and don\u2019t rush in to things.<\/p>\n","protected":false},"excerpt":{"rendered":"
Let\u2019s not beat around the bush, it\u2019s tough out there!\u00a0 We have seen numerous local and national retail outlets and banks recently confirm they are to reduce their store or branch numbers as the \u2018online versus shop front\u2019 takes further casualties. In addition, the finance sector is also finding it tough.\u00a0 Despite already losing some […]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"slim_seo":{"title":"United Trust Bank launch a market friendly mortgage offering. But be quick! - Impact Specialist Finance","description":"Let\u2019s not beat around the bush, it\u2019s tough out there!\u00a0 We have seen numerous local and national retail outlets and banks recently confirm they are to reduce the"},"footnotes":""},"categories":[1],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/8422"}],"collection":[{"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=8422"}],"version-history":[{"count":0,"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/8422\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=8422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=8422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=8422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}