Posts tagged with Mortgage Specialist

UK Mortgages – Need To Know Information

  • Posted on March 7, 2011 at 11:26 am

Whatever stage of the mortgage game youre at, unless you happen to be a qualified financial advisor, solicitor and broker all rolled into one, youll need professional help to find and arrange your loan. This guide presents some basic information on mortgages, but youll need to take specialist advice for your individual circumstances.

Having a general awareness of the processes involved and an idea of whats available to you should help you to make the right decision when you choose your mortgage.

You should be aware, too, of the difference between information and advice. Anyone can give information, and a survey of the web will offer literally thousands of pages about mortgages. Be aware of the legal aspects of mortgages and finances any agreements should be in writing, and you should check all documents carefully before signing. Verbal agreements and information should always be backed up by written copies. Below are some useful starting points for you to explore. Good luck!

Information

The web offers any amount of information on mortgages check that the pages are recent as rules and offers change constantly. Good sources of official information are:

The Financial Services Authority includes a guide to money, mortgages and debt, plus details of regulatory bodies and ombudsmen www.fsa.gov.uk

Direct Gov general information on finances and benefits
www.direct.gov.uk

Inland Revenue check the tax rules that apply to you
www.hmrc.gov.uk

Advice

Anyone offering you advice should be a qualified professional. They should be registered with an appropriate independent regulatory body, and you can ask to see copies of their qualifications. Theres a lot of free advice out there, that should help you without obligation, and its worth taking advantage of.

Independent Financial Advisors

Find an advisor at www.impartial.co.uk and a mortgage specialist at www.unbiased.co.uk

Solicitors

Often family or friends will recommend a solicitor, otherwise look for one that specialises in conveyancing and house buying. Check www.lawsociety.org for professionals in England and Wales, and www.lawscot.org.uk for Scotland.

If you have a query or complaint

The FSA are now the body that regulates financial professionals and lenders the Financial Ombudsman can investigate complaints or disputes and usually resolve them. Contact the professional or lender first they should have a complaints procedure. If you are still not satisfied, you can ask the ombudsman to consider your case: www.financial-ombudsman.org.uk
.
(The websites of the respective law societies of England & Wales and Scotland are the place to find out how to make a complaint about a solicitor or firm, see above.)

Continue reading UK Mortgages – Need To Know Information

UK Mortgages – Need To Know Information

  • Posted on February 28, 2011 at 11:26 am

Whatever stage of the mortgage game youre at, unless you happen to be a qualified financial advisor, solicitor and broker all rolled into one, youll need professional help to find and arrange your loan. This guide presents some basic information on mortgages, but youll need to take specialist advice for your individual circumstances.

Having a general awareness of the processes involved and an idea of whats available to you should help you to make the right decision when you choose your mortgage.

You should be aware, too, of the difference between information and advice. Anyone can give information, and a survey of the web will offer literally thousands of pages about mortgages. Be aware of the legal aspects of mortgages and finances any agreements should be in writing, and you should check all documents carefully before signing. Verbal agreements and information should always be backed up by written copies. Below are some useful starting points for you to explore. Good luck!

Information

The web offers any amount of information on mortgages check that the pages are recent as rules and offers change constantly. Good sources of official information are:

The Financial Services Authority includes a guide to money, mortgages and debt, plus details of regulatory bodies and ombudsmen www.fsa.gov.uk

Direct Gov general information on finances and benefits
www.direct.gov.uk

Inland Revenue check the tax rules that apply to you
www.hmrc.gov.uk

Advice

Anyone offering you advice should be a qualified professional. They should be registered with an appropriate independent regulatory body, and you can ask to see copies of their qualifications. Theres a lot of free advice out there, that should help you without obligation, and its worth taking advantage of.

Independent Financial Advisors

Find an advisor at www.impartial.co.uk and a mortgage specialist at www.unbiased.co.uk

Solicitors

Often family or friends will recommend a solicitor, otherwise look for one that specialises in conveyancing and house buying. Check www.lawsociety.org for professionals in England and Wales, and www.lawscot.org.uk for Scotland.

If you have a query or complaint

The FSA are now the body that regulates financial professionals and lenders the Financial Ombudsman can investigate complaints or disputes and usually resolve them. Contact the professional or lender first they should have a complaints procedure. If you are still not satisfied, you can ask the ombudsman to consider your case: www.financial-ombudsman.org.uk
.
(The websites of the respective law societies of England & Wales and Scotland are the place to find out how to make a complaint about a solicitor or firm, see above.)

Continue reading UK Mortgages – Need To Know Information

Cash Saving Mortgage Tips And The Mortgage Crunching Secret Weapon

  • Posted on July 5, 2010 at 11:26 am

Cash Saving Mortgage Tips And The Mortgage Crunching Secret Weapon Banks Don’t Want You To Know

Buying a house is a great long term investment. If you’ve never had a mortgage payment it simply means you’ll have to be more careful regarding the management of your finances. The first step before venturing into a mortgage if youre not already in one is to consider your financial situation. Then decide to buy a home where the mortgage and down payments are according to your financial situation so that you can enjoy life and have a roof over your head at the same time. If you have no idea what your monthly budget can afford then you should take some advice from a finance professional first.

Regardless of your situation here are several ways to reduce your monthly mortgage payments:

As interest rates keep on changing you should keep track of changes and consider refinancing at the right time. This would reduce your expenditures. Do the calculations to know your savings after paying costs and other expenditures.

Find out which bank offers the lowest homeowner insurance rates. You might be able to reduce either your insurance or tax payments.

Check your calculations properly and regularly to make sure that all adjustments are made correctly, even though it’s a bank sometime they make mistakes.

Choose a mortgage that offers flexibility. You want a mortgage that allows you to pay in an easy way according to your earnings.

Consider biweekly payments or accelerated equity plans. This will give you an additional payment each year and begins to reduce your mortgage quickly right from the start.

Try short term loans or variable interest.

Consolidate all your loans into a single one with lower payments. Make a table and analyze all your loans; education, car, home and bank loans for example. Study your expenditures. Try to consult a mortgage specialist, ask him about consolidations and how much it can reduce your monthly payments.

And last but not least, the mortgage crunching secret weapon:

Change a short term mortgage into a long term mortgage – go for a 30 mortgage. This will allow you to pay lower monthly payments which will lower the amount of interest you pay. Now, check with your bank for their rules and regulations but the next step is to pay way more each payment than the minimum payment. Each time you do this you’ll be smacking down the cash on the principle of your mortgage. This is the big mortgage early payout secret and it’s been known in many cases to eat a mortgage really easily in under 10 years.

A mortgage or home loan is a long term debt but it doesn’t have to be a burden. You are advised to pay it off as soon as possible but arrange your budgets tactfully by keeping an eye on insurance, loan disbursements and their interest rates. Enjoy your new home; hopefully with a few of these tips it will be all yours sooner than the banks desire. If it’s paid for it’s yours, if it’s a loan or mortgage it’s still theirs in my opinion.

Continue reading Cash Saving Mortgage Tips And The Mortgage Crunching Secret Weapon