Whether you’re looking to buy a property, obtain a new rate on your existing mortgages, or consolidate existing debt, our mortgage advisors are specialists with access to the whole of the mortgage market.
They’ll offer you appropriate, impartial, and completely professional independent advice specific to your requirements.
It’s a complete service that includes a free, no obligation appointment at a time and place to suit you. Evening and weekend appointments are also available.
This service is available for home-movers, homeowners and landlords across the Liverpool City Region and we can arrange mortgages for first-time-buyers, home-movers, buy-to-lets, re-mortgages and commercial mortgages.
A residential mortgage is a large, long-term loan taken out to buy a home to live in. Depending on what is best for your circumstances you can chose between fixed rate, variable or tracker mortgages.
With a residential mortgage the home must be used as a residence by the borrowers, not rented out to tenants or used for commercial purposes.
A residential mortgage is secured against the home to protect the lender’s money. This means that if repayments are consistently not met and a borrower defaults on paying the mortgage the lender has a claim on the home. What does that mean? Well, to recoup the money lent the lender may evict the residents and sell the house, using the income from the sale to clear the mortgage debt.
Buy to Let Mortgages
Buy-to-let mortgages are for landlords who want to buy property to rent it out. Buy-to-let mortgages are powerful tools both for seasoned investors and for new landlords looking to take their first steps into the rental property market.
Not everyone is entitled to take one out though: Buy-to-let mortgages are more expensive than typical mortgages and require deposits of between 25% and 40%.
Most borrowers take out an interest-only mortgage for the property. They then only pay the interest on the loan as it accrues every month, generally from the proceeds of the rent they collect. The capital debt – the full amount of the mortgage – is paid at the end of an agreed term.
The maximum you can borrow is linked to the amount of rental income you expect to receive, lenders typically need the rental income to be 25–30% higher than your mortgage payment. Speak to our team of mortgage advisors to find out what your rent could be.
Let to Buy Mortgages
Many people now choose to let their existing property rather than sell when they move into a new home.
The new mortgage lender will not necessarily take your existing mortgage into consideration as a commitment as long as the rent covers the existing mortgage payment.
A deposit maybe required for the new mortgage however this maybe released from the existing property by remortgaging or a secured loan.
Critical illness cover helps to support you and your loved ones financially if you’ve been diagnosed with a specific condition. You’ll receive a lump sum payment to help cover the costs of treatment, or to help pay the bills, if you’re not able to work.
Critical illness insurance usually doesn’t pay out if you pass away. This is where life insurance comes in. In most cases, life insurance only pays out if you pass away during the term of the policy. It’s designed to help your family to maintain their lifestyle after you’ve gone (for example, by covering mortgage payments or children’s university fees).
Income protection insurance is a long-term insurance policy designed to help you if you can’t work because you’re ill or injured.
It replaces part of your income – if you can’t work because you become ill or disabled and pays out until you can start working again – or until you retire, die or the end of the policy term – whichever is sooner.
Buildings and Contents Insurance
The difference between buildings and contents insurance is that buildings insurance covers the physical structure of the property including the walls, roof and floors, while contents insurance covers items inside the property, like furniture and freestanding appliances.
When you compare buildings and contents insurance, it’s helpful to think about what could be considered part of the fabric of the property (‘buildings’) and what could reasonably be removed and taken to another property (‘contents’).
While this seems quite straightforward, some parts of your property can be more difficult to define. Insurance policies usually consider fixtures and fittings (for example a fitted kitchen or a bathroom suite) as buildings, while carpets are usually covered under contents insurance. Laminate flooring is likely to be considered part of the building, but it’s worth checking your policy to make sure.
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