Mortgages

Buying your own home or re-mortgaging an existing loan can prove difficult and time consuming. Searching through Best Buy tables, scanning the internet and phoning the lenders only adds to the confusion. Some points to consider before applying are;

• What type of rate do you want and for how long? Fixed, Discounted, Tracker, Offset, Capped, Variable are all types of rate that should be considered.
• How many years should you repay the mortgage over? The shorter the term the lower the total amount to pay and the higher the monthly repayments.
• What fees will I have to pay? Typically, the lenders arrangement fee, survey fee, sealing fee and solicitors fees are payable.
• What are the other features of the mortgage? How much can be overpaid without penalty, is the loan portable to another property

At Romilly Financial we discuss your priorities and explain all the features of your selected mortgage. We help you understand the implications of your new loan.

The rise in second property ownership surged to the forefront during the late 90’s and was prompted by the launch of a ‘buy to let mortgage’. Traditionally purchasing second properties could only be funded via commercial banking facilities; however when the buy to let mortgage was developed both the interest rates and the fees were more attractive than commercial funding. It was has been widely regarded that buy to let mortgages assisted greatly in fuelling the property boom over the last 15 years.

Modern day buy to let and let to buy mortgages are a vital part of pension planning and wealth building. With the rental market commanding higher rental yield and property prices having stagnated for the last 5 years it seems as though buying a property to rent has never been more attractive. With property often considered to be a low risk investment the impression is that purchasing a second home is a simple way to make money. However, it is vital to consider all the areas of risk that can be associated with this method of investment; rental voids, property maintenance and legal wrangles with tenants can often lead to serious investment complications and risk. Further issues such as property stagnation and rental yields dropping can put pressure on monthly mortgage obligations to your property lender. At Romilly Financial we pride ourselves on our technical knowledge of the buy to let market. We are able to give advice not only on the features and aspects of the buy to let mortgages available in the market place but also any risks and benefits associated with buying and re-mortgaging a buy to let property.

If you are looking to rent your existing property and move on there are a wealth of let to buy options available on the market place however as with buy to let is important to understand all of the benefits and risks of this kind of funding.

Whatever your buy to let or let to buy requirements are please call us to discuss your options. 

Since 2008 mortgage funding has proven more and more difficult to obtain especially re-mortgaging existing properties with lenders and fees higher than they ever have been and property values feeling the pressure it may be that a secured loan is your most sensible option. Borrowing money on a second charge requires advice and consideration; knowing which interest rate, redemption penalty and lending term to choose requires advice and support before you press ahead.

At Romilly Financial we search the market making use of all the lenders offerings before recommending the secured loan to you.

The commercial lending market is a complex arena. If you are looking to develop a property or need urgent bridging facilities it is important to consider all of the lenders in the market place. As an unregulated lending source the commercial market draws on resources from the high street banks, equity ventures and private international lending. Each has their own specialisms which target specific development finance areas. The larger high street banks still do not have the appetite for commercial property lending although often they are willing to provide facilities once the risk in the project decreases.

As with any project the important part is preparing and planning in readiness for application. Making sure development costs, personal CV's and short fall contingencies are accurate ensures a swift and positive lending decision.

Our commercial lending proposition goes further than just sourcing a suitable funding stream. We understand what the lenders want and how they will want it.