Category: Uncategorized

Mortgage Guarantee Scheme

Faye Clay 07/01/2016

What is the Mortgage Guarantee scheme?

If you’re after a pre-owned home, the Mortgage Guarantee scheme could help. It gives you the freedom to purchase any property in the UK up to the value of £600,000, with a mortgage for 95% of the purchase price
These days many mortgages can seem out of reach. The Mortgage Guarantee scheme makes it possible to purchase a pre-owned or new build property under £600,000 with a 5% deposit. It could get your home-moving ambitions back on track.

Here’s a quick summary of the important bits:

• Available for pre-owned properties and new builds across the UK – up to the value of £600,000.
• Both existing home-owners and first-time buyers are eligible.
• Buyers need a minimum of a 5% deposit.
• You must occupy the property and it must be your only property.

Available across the UK, from participating mortgage lenders.

Help to Buy is a government-backed scheme to support buyers who may previously have struggled to raise a sizeable deposit. It’s the same as a traditional mortgage, except the government guarantees a portion of the loan to an affiliated lender (though the agreement is between the lender and the government, not you!). You will barely notice the difference.
What do you need to know?
The Mortgage Guarantee scheme can only be used for the property you intend to occupy, and must be your only property. A minimum deposit of 5% of the property value will be required. The rest is par for the course – as long as you tick the lender’s boxes in terms of credit score and loan-to-income ratios. Another thing to note is that the scheme only applies to repayment mortgages. Interest-only and self-certified mortgages are not included.

Call today to speak to our financial advisor who will be  happy to help and answer any questions you may have.

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Smoke and Carbon Monoxide Alarms

Faye Clay 10/08/2015
From the 1st October 2015, it will be mandatory for all landlords and managing agents to ensure that all smoke and co2 alarms are installed and properly checked before each new tenancy to ensure they are in good working order.
The test button on the device only checks to see whether the battery is working by sounding the alarm and not the sensors.
Checking and testing the sensor is the best way to properly ensure that the co2 alarm is in working order and must be carried out every 12 months.
Sensors have limited life expectancy.
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