With access to over 90 lenders, many of which are not on the High Street or available direct to the public, we are perfectly placed to advise you on the best mortgage for YOUR circumstances
Buying a home
Prospective Property Owners
Buying a home can be a daunting experience, whether you're buying your first home, you're moving to a larger property with a growing family or downsizing as the family have now moved out, it is important to find the right mortgage for your circumstances. We will compare the very best (and many exclusive, not available on the High Street deals!) from the whole market to ensure that you're getting the best mortgage to suit your current situation. We do not advise on 'direct to the public' deals.
Lifetime Mortgages or Equity Release
Lifetime mortgages allow you to release cash from your property without the need to move home. To be eligible for one of these plans, you need to be a UK homeowner aged 55-95. The money you release can be spent in any way you like and, what’s more, there are typically no monthly repayments to make (although this is an option if you wish).
You may stay in your home for life, or until you decide you want (or need) to move. Alexander Financial Solutions have access to mortgages from the Whole of Market and pride ourselves in sourcing the most appropriate mortgage for your individual needs. We offer independent advice for lifetime mortgages.
We only work with lenders that offer a guarantee that the loan will never be more than the value of your home.
The cash could be used to:
Boost your quality of life in retirement
Repay your interest only mortgage or other debts
Pay for home improvements
Pay to adapt your home
Upgrade your car
This type of loan means you retain full ownership of your home whilst unlocking a cash lump sum. The amount you can raise is dependent on your age, your health and the value of your property.
There are many providers of these types of mortgages and they are constantly developing new products which is why we believe you need to get expert advice.
With a lifetime mortgage Instead of paying back a monthly amount of capital and interest each month, most plans will allow the interest charged by the lender to be ‘rolled up’ on to the loan. However, some lenders will also give you the option of paying the interest payments in part or in full each month so your loan amount may stay the same (if you pay the full interest every month). This is subject to such payments being affordable on your current income.
A Brighter Future
Switching your mortgage to a different lender may be the best way to reduce your monthly repayments.
You may also need to raise additional capital to improve your home, consolidate debts or to help with other major events such as purchase of a holiday home or pay for a wedding. We can advise you of the most cost effective options available and will always look for the best remortgage deals for you.
You may have to pay an early repayment charge to your existing lender if you remortgage.
Buy to let
The Right Loan for You
Whether you are tentatively considering purchasing your first Buy to Let property or are an experienced portfolio landlord, you will almost certainly require a mortgage to realise your goal. This will need to be a Buy to Let mortgage as opposed to a Residential mortgage as we will now explain!
A Buy to Let mortgage differs from a Residential mortgage in several ways, including how the amount you can borrow is calculated, rental income being the main driving factor here. Then there is ownership of the property. Should it be owned on an individual basis or maybe held inside a Special Purpose Vehicle (SPV) Limited Company? Having access to the whole of the mortgage market we can offer you the widest possible choice of mortgage products to meet your needs.
As with residential mortgages, different lenders will have different criteria, which will ultimately mean they will lend different amounts of money. Our role is to match the right Buy to Let mortgage to your own individual circumstances.
It is not just about finding the right product though. We will manage your application for you. From the first conversation, through ensuring the lender has all the documentation required, checking the Offer Letter is correct once it is issued and checking that it still meets your needs and then chasing the Solicitors to ensure that your mortgage completes in a realistic time scale.
It doesn’t end there either!
With your permission, when your mortgage deal is coming to an end we will be in touch again to review what options are available to you. It may be that the best choice is to stay with your current lender, it may be that significant savings are possible by switching to another lender, whatever, you can rest assured that we will provide you with an honest and open assessment with your best interests at heart. Based between Leeds & Bradford, we have easy access to all parts of Yorkshire making us a sensible choice for landlords looking to find a new mortgage deal from a broker that understands this complex marketplace.
When purchasing your first or subsequent Buy to Let property, it is important to remember that there are tax implications and it is your duty to ensure that HMRC are aware of any income that you receive from your property. If you are unsure of what is and is not your responsibility, we can put you in touch with several local accountancy practices who will be happy to advise.
With over 18 years of advising on Buy to Let mortgages in Leeds, Bradford, and across Yorkshire to individual landlords, portfolio landlords and Limited Companies, you can be certain that if a deal exists, we WILL find it!
To find out more, contact us today!
Not all Buy to Let Mortgages are regulated by the Financial Conduct Authority. Your Property may be repossessed if you do not keep up repayments on your mortgage.
When a High Street lender says "No"
Many people assume that if their bank has said no, that they don't have a chance in getting a mortgage. This isn't necessarily the case.
Everyone's circumstances are different and there are lenders that understand this, and will take the time to assess your application fairly.
With our knowledge and contacts within the specialist lending industry, if there's a lender that can help you, we will know.
CCJ's, Defaults, Self Employed with 1 years accounts? We've seen it all!
Not sure what type of loan is right for you and your financial needs? Feel free to call for more information.