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Article on: Finance Brokers Best Deals: December 2024
5 Key Benefits of using 'Finance Brokers'
Fully regulated by the FCA, using our 'Financial Brokerage' may allow you access to both specialist & mainstream providers in 2024.
What are Finance Brokers? Financing brokers are there to help you the customer find the most suitable lenders, when you may need it most.
The Finance Broker job is to be able to look across a wide range of funding options to help achieve this goal. A finance broker salary uk relies on looking to professionally arrange your ideal finance both swiftly & accurately.
Unlike going direct to say one bank, building society or other lender, the brokers aim is to try and match your personal or business requirements to a suitable borrowing solution.
- Our Finance Brokers give you Whole Market access to over 150+ lenders
- Cover across a range of sectors both personal & business
- Finance brokers with specific areas of knowledge & expertise in certain types of lending
- Some UK lenders have specialist finance products
- These niche deals maybe only available through a finance broker
Martin Lewis likes mortgage brokers - so is positive therefore that 💯 "100% a good qualified Mortgage Broker is worth their weight in gold"
Please contact our Finance 'Brokers for Loans' >
We will now look at some key areas re 'Business Finance' & 'Residential Finance' Solutions.
Types of Business Finance
Business Finance Brokers' can help arrange finance for either businesses direct or individuals linked to their business, secured upon most types of commercial property.
- Access to Whole of Market-Leading rates
- Finance from £50,000 (with no maximum limit)
- Fixed or variable rates
- Interest-only options
- Adverse credit
- Lending in England, Wales, Scotland & Northern Ireland
These are the many areas that business finance brokers can assist with....Please contact our 'Financing Broker' >
| Multiple Units | Mixed-use Property | Single Freehold Unit |
| Retail Unit | Industrial Unit | Hotels |
| Warehouse | Offices | Guest Houses |
| Restaurant | Care Home | Multiple Occupation(HMO) |
| Public House | Nursing Home | Flats above Commercial |
6 reasons to use Business Finance Brokers
Here are 6 typical examples where a specialist Financing Broker may help out with business loans...
- When seeking finance as a LTD company, LLP, pension fund or trust
- A trading business & customer operate from the property
- You receive an income from a commercial investment property
- You don't fit a standard Buy-to-Let lending criteria
- Landlords and/or companies have adverse credit
- Cash flow shortages via unsecured business loans
Development Finance Brokers
Today’s Pandemic 2020's market can be a challenging market place for many UK property developers.
Through many close relationships with development finance lenders' & expert placement advisers, our development finance brokers may help try to secure you the best possible development funding terms.
Our Development finance brokers are able to assist experienced developers with the best possible terms. Then once developed, also help arrange the ‘exit’ from the development funding.
A development finance broker can also help & discuss terms with those less experienced developers. Also, those developers looking for 100% funding using JVs (Joint Ventures).
Need help, then Please contact our Development 'Commercial Financing Broker' >
10 Reasons to use a Development Finance Broker
- Up to 70% of land acquisition value
- Up to 70% gross development value
- Up to 100% of build costs
- Up to 80% of loan to cost (land acquisition cost + build cost + professional fees)
- Staged payments
- Terms 3 to 24 months
- Interest can be rolled up or retained
- Financing for commercial & residential developments
- Financing available for refurbishments & conversions
- Lending in England, Wales, Northern Ireland and Scotland
Commercial Finance Brokers UK
Commercial Finance Brokers help connect those business owners looking to secure new or extra funding with commercial lenders wishing to offer new borrowing.
Commercial (business) mortgage finance maybe used by a business looking to acquire new bricks & mortar property. Or, alternatively land for their business or to avoid paying commercial rent.
A Commercial finance brokerage can assist those businesses...Need help, then Please contact 'Commercial Financing Broker' >
- That have outgrown their premises
- Looking for new buildings
- Wanting to sub-lease some of their property to other businesses
Factoring 'Invoice Finance Brokers'
Our Factoring & 'Invoice Finance Brokers' may help you to release upto 95% of funds that maybe tied up in your invoices & the money then released to you asap.
For many businesses post pandemic, accessing professional invoice finance brokers can help provide a much needed cashflow injection.
Once set up, this is usually by way of a permanent facility and with agreed credit limits.
We can help with you raising funds through invoice finance companies against a single invoice. Or finance via a invoice factoring company & both with no requirement for a longer term contract deals.
All options are available to discuss with our uk based invoice finance brokers, and both are a popular option for some businesses if cash flows are tight. Please contact our 'Loan Brokers in UK' >
Bridging Finance Brokers UK
Bridging Loans can be used to provide short term bridge to let finance solutions to help those looking to borrow money quickly. Our Bridging Finance brokers uk based can help you try and get the funding you may need to help with a variety of scenarios...
- Buy-to-Let property
- Residential property
- Commercial property
- Semi-commercial property
- Land (with or without planning permissions)
Bridging Finance Brokers UK experts may give you access to a comprehensive bridging broker lender panel.
Help to provide 1st, 2nd & 3rd charge bridging finance options: Contact our bridging loan brokers.
- Access to Whole of Market-Leading rates
- Up to 100% LTV (with additional security)
- 75% LTV on Buy-to-Let
- Loans from £10,000
- Terms 1>18 months
- Interest can be rolled up, serviced or retained
- No exit fees
- Lending in England, Wales, Northern Ireland and Scotland
Refurbishment Bridging Loan
A Refurbishment Bridging Loan are for Property Investors looking to buy properties but not currently in a habitable condition. As such, they may struggle to get mortgages from mainstream lenders.
Refurb bridging loans can be used instead to help buy the property & then complete the necessary renovations before moving onto a standard mortgage.
It is important for the property investor to consider how long their refurbishments may take. Our finance brokerage can then access a range of lenders you may remortgage to, once the works are complete (even if that work has taken say less than 6 months).
Please speak to our refurbishment bridge specialists to establish firstly who may be the most cost-effective refurbishment funding provider. Then discuss who maybe able to then successfully refinance over to when the works are all done.
Loan to Value (LTV) Bridging Brokers
As Bridging brokers, we may see some clients who buy a property via either auction or repossession, but well purchased below its true Business Market Value (BMV).
We therefore need to access some bridging finance brokers uk deals, who may consider lending on the BMV value of that property (rather than its purchase price). This could therefore increase the bridging loan sizes that may otherwise have been usually available.
Bridging Finance for Auction Property
Bridging finance for auction property is all about timings. You will usually be asked for 10% deposit of the auction purchase price, plus the auction house fees, if your bid is a successful one.
The Auction Property purchase balance will then usually have to be completed within 28 days of the auction. If the auction property is not in a habitable state, then this further complicates your finance raising choices.
As bridging finance brokers, we note that for many auction property investors, standard mortgage deals often cannot be arranged by us within a tight time frame period in today's market.
However, instead we work alongside some bridging finance lenders who will work instead off purchase price. They currently don't require valuations for your auction purchase of a residential style property.
Pre-qualify your auction finance is in place beforehand & speak to our Auction Bridging Finance Brokers Please contact our Loan Broker in UK >
Finance Bridging - Exit
Whilst finance bridging may represent you an effective solution in many cases, it should really only be seen as a short-term borrowing product (if it is priced accordingly).
It is therefore essential for you to consider how that finance bridging will be repaid, plus the speed you can repay it (referred to as your ‘exit route’).
A typical finance bridging exit route will be to then refinance to a mainstream finance lender or alternatively just the sale of the property.
Note: Our bridging finance brokers can also discuss if you already have finance bridging in place, but now need help with replacing/refinancing this.
6 reasons to use Bridging Finance Brokers
Here are 6 typical examples where a specialist Bridging Financing Broker may help out...
- You need fast bridging finance for a quick completion to meet auction terms
- Wish to buy a refurbishment property that is deemed unsuitable by mainstream lenders
- Need to complete a property purchase before an existing property is sold
- When you want to buy a property & change its use
- Quickly release equity from a property to help with cash flow
- When you want to buy an under-market value property quickly
Speak to our Bridging Finance Brokers Please contact our 'Finance Broker UK' >
Bridging Finance Broker London
If you are looking for a Bridging Finance Broker London partnership, then you need someone who understands the London housing marketplace. One which is usually an indicative UK property barometer, both good or bad.
Our Finance Brokerage with helpful experienced London Bridging Finance Brokers specialists, we can help you to raise the London credit bridging finance you may need within & around the London property area.
With a background in all aspects of bridging brokers in London operate often in a unique property investment landscape (given its higher bricks & mortar values) trading alongside both business owners, developers, agents & property investors.
We aim in today's challenging business climate to help you secure the right London bridging finance by giving you the best professional advice.
Although, we deal with most aspects of finance brokerage, we would like to be your preferred London bridging finance broker. Please contact our Business Financing Broker >
'Buy to Let Broker'
The UK Buy-to-Let market in the 2020's has now become very complex for many landlords, especially those looking to expand and build their buy to let portfolios.
Changes to the marketplace such as limitations to mortgage interest tax relief, or second property stamp duty. Or criteria and finance underwriting changes brought about by the Prudential Regulation Authority, have all contributed to UK market complexities.
Most mainstream mortgage finance brokers can usually assist those who are looking for standard 'Buy to Let Broker' deal on their initial or second property. They would just use High Street style lenders with whom they maybe familiar.
However, when your requirements are more complex, a financing broker will now need to invest time in building up their knowledge into this specialist buy to let broker market place.
They may also need to be able to access more niche Buy To Let Broker lenders & commercial lenders to satisfy their client’s needs. Please contact our Finance Broker UK >
| Ltd Company Buy-to-Let | Student Let Property | First Time Buyers |
| Low Value Properties | Multiple Occupation (HMOs) | First Time Landlords |
| High Value Property | Portfolio Landlords | Foreign Nationals |
| Flats above Commercials | Low Rental Properties | Expat Buy-to-Let |
| Lending into Retirement | High Rise Flats | Listed buildings |
Some of the more complex buy to let broker specialist areas we can discuss with you may include:
*HMO’s and Multi-Units
This type of Buy To Let broker deal may cover a range of property layout types from:
- 5-bedroom-3 storey property let to 5 students via a single tenancy agreement
- 10-bedroom-5 storey property let out to DSS tenants
- Understanding legally which of these requires a HMO licence is often the initial challenge
*Portfolio Landlords
A client with 4 or more Buy To Let’s, including the subject property, will be subject to specialist Buy To Let broker underwriting.
This means the landlords will need to supply documents such...
- Business plan
- Cash flow forecast
- Asset and liability statement
- Full details of the existing property portfolio
A buy to let broker can help you to package all these together & into their best possible light for success. So they can be legally & correctly presented to the ideal finance Buy To Let broker lenders.
*Limited Company Buy to Let
These Limited Company Buy To Let broker types have become more popular with Landlords since the various tax changes over the last few years, as nothing stands still in the business world.
Mortgages that are held inside a limited company may still help offset the full mortgage interest against the rental income.
Understanding the types of Limited company being used and who the Directors or Shareholders are - can often influence which Buy To Let Broker lenders would even consider the company.
Your business situation may perhaps sit in one of the above categories? Or, you may just be struggling to raise the capital needed due to the rental income?
With our specialist Buy to Let lenders that can look into & consider your earned income to those lenders with low rental calculations or no calculations at all, we can help discuss a way forwards.
*Expats and Foreign Nationals
Not every buy to let lender will consider an applicant who is a none UK resident in. The lender’s criteria for British Expats does differ from the criteria they offer to UK domiciled residents.
A specialist Finance brokerage knows however how British Expats are best catered for with access to over 30+ lender options.
For Foreign Nationals the buy to let broker market is more limited. However, finance brokers uk based are still able to help a range of Nationalities and those who wish to consider purchase via offshore companies.
So a buy to let broker need to keep themselves informed (and landlords) about any regulatory & business tax changes. That is an essential. Please contact our 'Brokers for Loans' >
For example, ongoing legislation has altered what UK landlords can claim tax exemptions on & so correspondingly the amounts of tax they pay.
'Business Secured Loans'
7 Reasons to use a Broker for Business loans
Sometimes your circumstances may have changed since taking out the original business mortgage. You now require another lender that has a more flexible criteria than your current main business finance provider. You may need a new 'business secured loans' that is separate from the main mortgage.
Here are 7 typical examples where a specialist Broker for Business loans may help out...Please contact - 'Brokers for Loans' >
- Capital raising on Buy-to-Let properties to finance the deposit for a new property purchase
- Main mortgage is on interest only & don't want to remortgage on to repayment
- Avoid paying early repayment charges by remortgaging
- Don't want to lose the favourable interest rate on an existing mortgage
- Require finance faster than can be achieved through a main standard remortgage
- Want to borrow beyond retirement age
- Wish to raise money to pay a tax bill
Business Secured Loans broker
'Business secured loans' are often referred to also as a second business mortgages - because they have 2nd priority behind a main (or 1st charge) business mortgage.
Business secured loans are usually used as a way to raise further money against the equity in a commercial property - when it is not possible or preferable to increase that 1'st mortgage. Unsure then speak to our corporate finance brokers.
Business Financing Brokers can help you access second charge loan options on Buy-to-Let & commercial properties, whilst also being able to arrange them on a long term basis e.g. 25 years. Or maybe use business finance brokers to help on a short term ‘bridge’ basis of say up to 12 months.
All Credit Status 'Business Finance Brokers' for Business Loans
Poor Credit Business Loan
You may have acquired some adverse or poor credit since taking out the main business mortgage. This now means you maybe unable to find a suitable re-mortgage business deal?
You maybe therefore asking yourself...'can u get a business loan with bad credit' or 'what credit score is needed for a business loan'?
Our Business Finance Brokers' can look at & help discuss all types of specialist business loan for poor credit deals. Please contact our 'Brokers for Loans' >
Each Lender usually has different business lending criteria that you may need to satisfy, to be then eligible to securing a loan with bad credit.
Some lenders may be stricter with their financial underwriting than others. If your business credit status is badly damaged, then it could be more challenging for the business financing broker to get you an acceptable deal.
Therefore, you best speak to a specialist broker, one who may have a greater understanding of which business loan lenders might accept your application.
Contact us for help with all 'secured business loans' & business loans poor credit uk deals. Or enquire about bad credit personal secured loans.
Types of Residential Home Finance
| First Time Buyer | Gifted Deposits | Shared Ownership |
| Home Move | Re Mortgage | Self-Employed |
| Right to Buy | Contractor Mortgage | Capital Raising |
| Help to Buy | 2nd Charge Finance | New Build Property |
| Foreign Nationals | Expat Mortgages | Flat over Commercial |
| Income Stretches | High Rise Flats | Listed Buildings |
| Non-Standard Build | Income Family Deposit | Bridging Loan |
| Adverse & Bad Credit | Contract & Zero-Hours | Non-UK Resident |
| Older Person Mortgage | Lending into Retirement | Equity Release |
In these Pandemic 2020's Post Brexit, many people may no longer fit within some mainstream requirements of UK Mortgage Finance lenders.
These people may therefore require a finance broker who can access both mainstream & specialist mortgage finance providers.
A finance lender who is prepared to be perhaps more flexible & look at the merits of the case, rather than just adopt a computerised 'tick boxes' approach.
A Whole of Market Finance Mortgage Broker could help arrange funds for many individuals, secured upon most types of domestic properties.
- Access to Whole of Market-Leading rates
- Broker only Exclusive Products
- Up to 95% LTV
- Loans from £25,000+
- Interest only options
- Purchase & Remortgage
- Fixed and variable rates
- Adverse credit options
- Products with low fees and No ERCs
- Lending in England, Wales, Scotland and Northern Ireland
We aim to help you find the best residential home financing solutions, available for all different types of personal & family situations...
'Type of Mortgage'
There are many type of mortgage loans you may get help on via a finance broker.
Here are some of the main type of mortgages uk available & their various type of mortgage repayment... Please contact our 'Brokers for Loans' >
- Repayment
- Interest Only
- Joint Mortgage
- Standard Variable
- Offset
- Capped Rate
- Discounted
- Guarantor
- Flexible
- Tracker
- 95%
- Specialist
* Repayment Mortgage
A repayment type of mortgage is where you both repay a bit of the capital (the amount you borrowed) along with some interest, usually each month.
With a repayment mortgage, so long as you meet all your regular payments due, then you should be guaranteed to have repaid your entire mortgage by the end of its nominated term.
*Interest Only Mortgage
An interest only type of mortgage means you only pay interest charges on your mortgage loan. However, none of the original capital your borrowed is repaid.
Although your regular payments are usually much less than on a repayment style mortgage, the like for like difference is at the end of the mortgage loan term agreed.
With an interest only mortgage you will still owe the original amount you borrowed from your mortgage provider.
To help cover this shortfall, you could have several options. Make regular over-payments, or perhaps convert part of the mortgage to repayment?
If not, then at maturity instead you could repay all or some of the mortgage via various options ie; an ISA lump sum, an Investment Fund, Savings or just Sell the house and take any equity made.
With rising interest rates or property price falls, Martin Lewis on Interest Only Mortgages opinion is that he considers them a risky strategy.
*Joint Mortgage
A joint mortgage loan is where two or more people are named on the mortgage agreement. The % property equity split values you can decide eg; 70/30 or 50/50.
Note: All parties have jointly and several liability (or legal responsibility) for the total regular mortgage repayments
ie; If any mortgage payments are missed, then all parties then become all financially liable on this 'type of mortgage'.
* Standard Variable Mortgage
A standard variable rate type of mortgage has a variable interest rate that is regularly reset by your lender. This can make it hard to budget for the future payments.
This mortgage rate rate is not always directly linked to the Bank of England interest rate. However, it is the usually the main decider whether the mortgage lender decides to decrease or increase it.
This means your lender's regular interest rate decisions could mean you then end up paying either the same, less or more mortgage loan repayments.
*Offset Mortgage
A Offset mortgage allows you to link both your mortgage & savings together. The benefit is it reduces the overall amount of interest you maybe charged.
An Offset type of mortgage works by calculating how much you borrowed for your mortgage & then offsetting this balance against the value of your savings.
You are therefore only charged interest on the lower balance difference, so the total amount of interest you pay each month will be lower.
*Capped Rate Mortgage
A capped rate type of mortgage is based on a variable rate mortgage BUT it will not rise above a certain 'cap' rate. These are less frequently available in the 2020's
These capped rate deals are most commonly available as either a) standard variable rate or b) tracker mortgage.
*Discount Mortgage
A discount type of mortgage means you paying a reduced version of your lender’s normal standard variable rate.
The amount of discount you get is fixed. So the reduction is applied whether the lenders variable rate is increased or decreased.
For example, If the lender decreased their variable rate to 4.75% & your deal applied a fixed rate discount of 1.75% discount then your rate would be reduced to 3.0%.
* Guarantor Mortgage
A guarantor type of mortgage is designed to help people who are unable to get a mortgage just on their own.
So instead you bring in a trusted person who can help you take on responsibility or guarantee you for the mortgage. This trusted guarantor person could be a family member or friend. Someone who is prepared to act as your guarantor and who will agree to cover any missed mortgage loan repayments, if they should happen.
A Guarantor Mortgage could be ideal if you do not have enough income to qualify, have a bad credit record, or just don't have enough funds to provide a reasonable deposit.
Note: Whilst your guarantor may help you to buy a property, they will not own any of it or be named on the deeds (unless you wanted them to be).
* Flexible Mortgage
A flexible type of mortgage is meant to give you various flexible options how you repay. This could be allowing you to underpay or overpay your mortgage. Or other options, such as the ability to have your interest calculated daily, take payment breaks or borrow back money if you have already overpaid it.
* Tracker Mortgage
A tracker type of mortgage means it tracks an interest rate. This rate could be either equivalent to the Bank of England base interest rate (or abit more) with terms as set by your lender.
For example, if the Bank of England base rate is 4.75%, you might have a mortgage based on just that. Or alternatively, the Lender tracker mortgage terms are bank base rate plus 2% = mortgage rate of 6.75%.
This means that if their tracker base rate rises, you could end up repaying a higher amount. Alternatively, if the base rate falls, your tracker mortgage deal will now ‘track’ it downwards and you will pay less.
* 95% Mortgage
A 95% type of mortgage is one that allows you to borrow upto 95% of the mortgage loan amount (with just a 5% deposit). Or a property loan to value ratio (LTV) = 95%.
95% Mortgages are popular with 1st time buyers mainly due to the lower deposits required.
However, because of this higher risk of falling into negative equity with a 5% deposit, UK lenders will often charge a much higher interest rate to help cover their potential risks.
* Specialist Mortgage
A specialist type of mortgage is one that maybe doesn't fit into the 'mainstream norm' mortgage providers.
Many mainstream high street lenders are sometimes unprepared to take on anything more unusual or higher risk ie; risk averse.
For example, a specialist mortgage for those previously bankrupt, poor credit, expats, offshore contractors, new builds, retired etc;
Help to Buy First Time Buyers
Help to Buy First Time Buyers is a range of Government backed schemes to help people buy their own home since 2013. However, the scheme will end in 2023.
There are various different types of Help to Buy First Time Buyers schemes. A Mortgage 'Financial Broker' can help you decide which are the best schemes suited to your personal situation & eligiblilty.
Help to Buy First Time Buyers mortgages are available on many new build homes in England. These new builds' are for a purchase price of up to £600,000.
However, not every new home qualifies for the Government Help to Buy and it is only available from new home builders registered with the Help to Buy First Time Buyers scheme.
- Loans are available to all first time buyers subject to eligibility criteria
- The new property you’re buying must be your only residence
- Deposit required of at least 5% of the property price
- Government will then give you a loan for a minimum of 10% & up to 20% of the purchase price
- Pay this loan back to the Government after 25 years
- Or payback earlier if you sell the property
- You will need to arrange a mortgage of up to 75% to cover the rest of the cost of the property
- For London only the maximum Government loan is up to 40%
- If you later on sell the property then some of that profit on the sale is then paid back to the Government
- How much you pay back is based on the market valuation of your home when it’s sold.
- For example, if you had a Help to Buy First Time Buyers loan of 18% of the purchase price, you must pay the Government back 18% of the sale price.
- You will also have some extra payments to the Government relating to the equity loan deal agreed
- Repay £1 per month from the date you move in
- After 5 years, you start to pay interest on the Government loan
Finance Brokers 'Home Mover Mortgages'
Whether you are down sizing or up-sizing. Staying in the same area of town, or now moving home to the countryside.
If you have finally found your for ever home...our Mortgage 'Finance Broker' will aim to help also find your ideal 'Home Mover Mortgages' to help you achieve your dreams of moving there.
Questions the Broker will check up & ask is....
- Work out if your current mortgage is portable
- Should you take your current mortgage with you?
- See if your current provider may also allow you to borrow the funds to move home
- Check the costs of keeping your present mortgage deal
- Consider any exit fees that you may be required to pay
- Then compare against the cost of moving to any new Home Mover Mortgages
Our Financial Brokerage will help you to then work out the best option for you overall. Please contact our UK Brokers for Loans >
Getting the right home mover mortgages is important, as you & the broker will need to ensure it is still affordable whilst suiting your changing needs.
Let's now look at the impact of making mortgage overpayments...
Finance Brokers & Mortgage Overpayments
Mortgage overpayments are any additional payments you can make over and above your usual monthly mortgage payment.
Overpayments can either be...
- One-off lump sum
- Irregular lump sums
- Regular 'mortgage overpayments' made through the year
How Mortgage Overpayments affects your mortgage?
Mortgage overpayments mean you can potentially save money on the total amounts of mortgage interest you pay. You could therefore repay your mortgage balance off quicker.
BUT often many lenders have mortgage limits on how much you can actually make mortgage overpayments for of your TOTAL outstanding mortgage balance. eg; 10% allowance.
In other words, check any mortgage overpayment is penalty free. Note: the exact method of how this 10% is calculated varies by lender.
If you then go above their allowance of say 10%, you may then have to pay them an Early Repayment Charge (ERC).
These mortgage overpayments you make may then go into a reserve account, which is then used to reduce the interest you pay on your mortgage balances.
For money laundering purposes, the lender may also inquire as to where these extra funds have come from.
Mortgage Overpayments Calculator
To best use the generic finance brokers mortgage overpayments calculator link above, just input your details over the example & the amount of overpayments you wish to make.
The *FREE > MORTGAGE OVERPAYMENTS CALCULATOR results will quickly show how much shorter the potential mortgage term & interest savings made OMNI Note: £=$
| OVER-PAYMENTS MONTHLY | TIME-PERIOD SAVED | MONEY-INTEREST SAVED |
| £10pm | 6 months | £4,634 |
| £25pm | 1 year 2 months | £11,214 |
| £50pm | 2 years 4 months | £21,299 |
| £100pm | 4 years 3 months | £38,735 |
| £150pm | 5 years 11 months | £53,322 |
| £200pm | 7 years 5 months | £65,736 |
| £250pm | 8 years 8 months | £76,450 |
'Re Mortgage Brokers'
Re Mortgage Brokers can analyse whether it's best for you take out a brand new mortgage on your property...or not. The remortgage market is for ever moving, with new rates & broker deals coming out
6 Reasons for a Re Mortgage:
A ReMortgage may be suitable to either borrow more money against your property or alternatively to just replace your existing mortgage.
- Switch from interest-only to repayment mortgage
- To borrow more
- Worried about interest rates increasing
- After a better rate
- Current deal is ending
- You want to overpay & your lender won't let you
Re Mortgage brokers will see if you should consider your existing Provider or maybe a new one. Or perhaps consider a secured loan instead.
Around a 1/3 of all home loans made in the UK are actually re mortgages and many people have sort the professional advice of re mortgage brokers to do so.
In the cost conscious 2020's with rising bills, many UK homeowners are now looking to take advantage of cheap re mortgage deals.
Although re mortgaging your property might seem like a great way to help reduce monthly costs... there are risks involved. Please contact us >
* 4 Top Tips to Re Mortgage
- Loan-to-value (LTV) - the lower your LTV your best re mortgage brokers deals may be available
- Start your Re Mortgage search 3 months early - Many providers will let you arrange your next deal at least 3 months beforehand
- Avoid early exit penalties - Check if you have costly early repayment penalties. To help avoid this, start any new re mortgage brokers agreement after any penalty ends
- Check Product fees - these fees can eat into any potential re mortgaging savings. Make sure you know how much you may have to pay
Help avoid some of those remortgaging property risks by contacting our 're mortgage brokers'. Please contact our Finance Brokers for Loans >
Right to Buy a Council House
Right to Buy a Council House scheme allows existing tenants of council or housing association houses in England to buy their property they may currently rent. This is usually at a price discounted well below the market value.
Similar 'Right to Buy a Council House' schemes are available also in Northern Ireland (these rules do vary).
Right to Buy a council house has existed in one form or another for many years. The right to buy market was fueled by Margaret Thatcher Conservative Government back in the 1980s, with over 1 million council homes sold to tenants. Their edict was “to give ... the right to buy their homes ... to tenants of local authorities”.
Since changes to the Right to Buy a council house scheme back in 2015 have made right to buy mortgages more widely available also to the public sectors.
Right to buy on Housing Association
Recent legislation changes extended right to buy for housing association tenants also. Most housing association tenants do not have the Right to Buy on Housing Association.
‘Preserved’ Right to Buy
However, this is different if you were a secure council tenant & were living in your home when it was transferred from your council to another landlord (like a housing association).
In this instance you may have a ‘Preserved’ Right to Buy. This may only apply if you were living in your home when it was transferred.
It may also apply if you then move to another property owned by the new landlord. However, it does not apply if you then move to a property owned by another different landlord.
If you have the Preserved Right to Buy, then you can buy your home under the right to buy for housing associations scheme in the exact same way as if you were also still a council tenant. Your landlord will be able to tell you whether you have the 'Preserved' Right to Buy Association House. Use this Government eligibility quiz for right to buy from housing association.
Qualifying Periods
The qualifying council house tenancy period has also reduced. Previously 5 years, you now only need to have been a tenant for over 3 years.
The maximum 'Right to Buy a Council House' discounts available since 2022
- £87,200
- £116,200 in London boroughs
- Increasing with Consumer Price Index (CPI)
These discounts are based on:
- the type of property you’re buying - a flat or house
- the value of your home
- how long you’ve been a tenant with a public sector landlord
'Right to buy a Council House' Discounts
You can get a 35% discount for right to buy a council house if you’ve been a public sector tenant for between 3 > 5 years.
After 5 years, this discount goes up 1% for every extra year you’ve been a public sector tenant, up to a maximum of 70% or £87,200 across England and £116,200 in London boroughs (whichever is lower).
What if your Landlord has spent money on your Council House?
Your right to buy a council house discount may be less if your landlord has spent any money building or maintaining your home:
- in the last 10 years - if your landlord built or acquired your home before 2 April 2012
- in the last 15 years - if you’re buying your home through Preserved Right to Buy, or if your landlord acquired your home after 2 April 2012
You will not get any major discounts if your landlord has spent more money than your home is now worth over time.
Right to buy a Council Flat | Finance Brokers help
You can get a 50% discount for right to buy a council flat if you’ve been a public sector tenant for between 3 and 5 years.
After 5 years, the discount goes up 2% for every extra year you’ve been a public sector tenant, up to a maximum of 70% or £87,200 across England and £116,200 in London boroughs (whichever is lower).
Right to Buy Mortgages work in the same way as typical residential mortgages. In fact, anyone purchasing their council house through a Right to Buy scheme has access to the same mortgage deals as anyone else.
The amount you can borrow will depend on the market value of the property, the size of your deposit, and various affordability criteria such as your income and credit history. Please contact our 'Brokers for Loans' >
'What Bridging Loan'?
Bridging Loan Meaning
Bridging loan meaning = short-term borrowing. It may be used as a short term bridge or plug gap funding until your property is sold or work to be done completed.
What Bridging loan lender deals can be used, how much & for how long are reviewed by our 'financial brokers'
We may then give you access to a comprehensive bridging lender panel to help provide 1st, 2nd & 3rd charge bridging finance options:
- Access to Whole of Market-Leading rates
- Up to 100% LTV (with additional security)
- Loans from £10,000
- Terms 1>18 months
- Interest can be rolled up, serviced or retained
- No exit fees
- Lending in England, Wales, Northern Ireland and Scotland
Here are 5 typical examples to look what Bridging Loan could mean to help you out…Please contact our Finance Brokers for Loans >
- Buy a property that needs doing up (BUT deemed unsuitable by high street lenders)
- You need a fast bridging loan for a quick completion to meet property auction terms
- Need to complete a property purchase before an existing property is sold
- New Home build help to cover buying land & building work, whilst awaiting a mortgage
- When you want to buy an under-market value property quickly
Equity Release Brokers
Equity Release Brokers are regulated specialists who can help those people aged 55+ and over, searching for finance broker deals, to obtain cash (or equity) from their property.
* How does Equity Release work?
You can raise a lump-sum of money or a regular monthly income from your property ie; equity release.
The size of the mortgage loan you can raise is based on several factors including your age & also your property value. There maybe normally no monthly payments to make, therefore there is no affordability assessment.
The mortgage & rolled up interest will be repaid when the homeowners pass away. Martin Lewis on Equity Release Lifetime Mortgages & Home Reversion has various alternative suggestions like downsizing before considering this as a solution.
This equity release sum raised can be used however you may wish for an array of reasons such as:
- Finance Home Improvements
- Paying off an existing mortgage
- Pay off loans
- Inheritance tax planning
- Top up monthly pensions
- Assist your children with money difficulties
- Help family to buy their own home
- Fund personal leisure or travel
- Or more
* Equity Release Broker | Finance Brokers Case Study:
Mr and Mrs X are in their early 70’s have an interest only style mortgage with a term coming to an end.
- Have limited income from private & state pensions
- They did not want to move area as near family
- Wished to remain in their current family home
- Equity Release Broker finds a provider prepared to lend just under 50% of their property value
- This released enough funding to pay off the existing mortgage loan
- Also repaid some personal debt.
- Mr and Mrs X reduced monthly outgoings by £1,500 per month
- Outcome also meant that they were able to stay in their current home.
For help & get Equity Release broker advice Please contact our Equity Release 'Brokers for Loans' >
'Expat Mortgages for UK'
UK Mortgage for Expat
A UK Expat Mortgages are a special mortgage (whilst you are still a UK expat) that you can take out on a UK property you are intent on buying.
Expat mortgage lenders deems someone is an expat who is currently residing in another country than the UK ...but they are not a national of that country.
Note: UK domicile & non domicile rules for tax purposes are different. So for lending purposes re UK Mortgage Expats, you are deemed a UK national living abroad but you are originally from the UK.
Expat Mortgage Finance Brokers
Many mainstream high street providers do not offer clients mortgage uk expat deals. Some of the reasons include they are not geared up for dealing with...
- Family income trusts
- Offshore investments
- International income money currencies
- None uk credit profiles
With access to over 35 Expat mortgage lenders, our Financial Brokerage have in house uk expat mortgage broker specialists, well placed to help...Please contact our Expat 'Brokers for Loans' >
Expat Mortgage Finance Broker options...
- Access to Whole of Market-Leading expat finance rates
- Residential mortgages up to 90% LTV
- 'Expat buy to let mortgage' up to 75% LTV
- Loans from £25,000+ with no maximum limit
- Interest only options
- Fixed & variable rates
- Light adverse credit finance
'Expat Mortgage UK' Finance Brokers
It could be you intend to move back to the UK sometime in the future? Or, you currently live & work abroad ...but your family still live in the UK?
Maybe you need to remortgage onto a 'Expat buy to let mortgage' basis?
- Lending in England, Wales & Scotland
- Residential property
- Buy-to-Lets
- Student Lets
- Holiday Homes
- New Build Flats & Houses
- Houses in Multiple Occupation (HMO)
UK Expat Mortgages | Finance Brokers help
- Expats that are either Self Employed or Employed
- Finance Broker options if buying through a limited company
- Expats that reside in a range of different countries
- You no longer have a UK bank account
- Finance Broker 1'st Time Buyer deals
- Professional or 1'st Time Landlords
- Expats buying an investment property for their kids to live in whilst at university
'Can get a Mortgage with Bad Credit'?
How to get Mortgage with Bad Credit?
Many people due to the pandemic 2020's have had their financial lives turned upside down.
One minute things may have been fine financially ...& the next minute your finance history may have taken a turn for the worst?
You maybe one of those people & are now concerned about How to get Mortgage with Bad Credit?
Having bad credit when it comes to borrowing money is never perfect, as many mainstream mortgage finance providers like those careful borrowers. Those who make their payments on time.
When a mortgage finance lender says someone has a bad credit ratings, it’s means they may have had credit report displays issues. For example; missed or late payments, CCJs, defaults, bankruptcy or debt relief orders.
However, if you have had some financial blips in the past, there are a few things you may consider yourself to help your chances for getting a new mortgage.
If investigating initially yourself 'How to get Mortgage with Bad Credit' you should consider to firstly check these 5 things...
- Compare Credit Reports between agencies
- Your Credit history reports may differ from one agency to the next
- It may be possible to find you Can get a Mortgage with Bad Credit even if you have some issues
- Check yourself how bad is your bad credit? Or maybe it is not as bad as you first thought?
- Access for example your Experian or Equifax credit reports
Our UK finance brokers have helped people in the past who thought it maybe difficult if they 'Can get a Mortgage with Bad Credit' - even those who have been previously bankrupt. Please contact our 'Brokers for Loans' >
For Bad Credit Mortgages, you need to speak to a specialist finance brokerage that understands which maybe non-mainstream lenders are best to approach How to get Mortgage with Bad Credit.
Finance Brokers for 'UK Secured Loans'
UK Secured Loans are sometimes also referred to as home equity loans or second charge mortgages because they have secondary priority behind a main (or 1st charge) mortgage.
They are often used as a way to raise further money against the equity in your domestic property, perhaps when it is not possible or preferable to increase the main first mortgage.
With a Secure Loans UK financing broker deal, you may be able to borrow larger sum of money with a longer repayment term, than other types of finance.
A secure loan uk is legally secured to assets that you may own ie; usually your residential Home or other substantial property assets you own. Martin Lewis on secured loans therefore says they should be a last resort loan.
Many 'Secure Loans UK' terms in the 2020's may also offer lower interest rates than unsecured loans. However, these rates maybe higher if you are looking to consolidate debts re say bad credit.
The reason behind this is because 'secured loans uk' providers potentially have a lower finance risk exposure ie; they always have recourse back to seize your property assets - should you not continue to meet all the regular repayments.
- Secure loans UK deals can be used for most purposes...
- Debt Consolidation, Pay a Tax Bill, Home Improvements, Holiday of a Lifetime
- Available on long term basis e.g. 25 years
- Or on a shorter term ‘bridge’ basis of up to 12 months
Note: Making regular repayments upon time to any Secure loans UK may improve your credit score in the longer term
To proceed with a 'Secured Loans UK' finance broker deal they will need to know...
- Purpose of your Property Secured Loan
- Amount Borrowed & Term
- Credit history
- Income & Expenditure
- Personal Finance details
- Employment status
- Property Loan to Value (LTV)
From this they can search the 'Secured Loans UK' market checking for the best deal relevant to your personal situation. Please contact our Secured 'Brokers for Loans' >
Early Repayment
You can usually pay off the outstanding amount on a secure loan uk plan at any time (subject to T&C's).
Note: Many 'secured loans uk' lenders will charge an Early Repayment Fee. Depending on the size of the loan, this might make early repayment a less desirable outcome, so make sure you can afford to stick to the repayment plan from the outset.
Note: Our Finance Broker may initially use a soft search re your credit score - but this is dependent upon your inquiry status.
* If you take out secure loan uk deal you maybe charged legal, administration, valuation or other finance brokers' fees.
* Consolidating any existing borrowings to help reduce your monthly outgoings? Whilst your monthly payments may be lower, be aware that could also extend the term of the debt & so increase the total amount repaid.
- Access to Whole of Market-Leading rates
- Up to 95% LTV on Residential
- Loans from £3,000
- Fixed or Variable interest rates
- Adverse Bad Credit Options
- Lending in England, Wales, Northern Ireland & Scotland
After Securing a Loan with Bad Credit?
Secured Loan with Bad or Poor Credit
If you are after securing a loan with bad credit - then our financing brokers maybe still able to assist & dependant upon your overall personal credit financial status.
This could be because you have acquired some poor credit since taking out your main mortgage, are now unable to find a suitable remortgage deal?
In this instance, secured loans for bad credit maybe your way forwards.
Our Finance brokers can look at & discuss all types of specialist guaranteed loan bad credit direct lender deals. We may handle clients personal credit status from...
- Secured loans with bad credit
- Secured loan with poor credit
- Secured loans with adverse credit
Each 'secured loans UK' lender has different lending criteria that you will need to satisfy to be eligible to securing a loan with bad credit.
Some lenders may be stricter with their finance underwriting than others. If your personal credit status is badly damaged, then it could be more challenging for the finance brokers to get you an acceptable deal.
Therefore, you may need to speak to a specialist broker who may have a greater understanding of which secured loan finance lenders might accept your application. Please contact our Secure 'Brokers for Loans' >
Conclusion UK Finance 'Brokers for Loans'
Whether it is the cheapest high street finance deals or a specialist finance lender that will consider a complex lending scenario. Business or Residential Finance our Finance Brokerage are well placed to help.
Whatever your credit status, good or bad...please contact us for ideal financial solutions.
Sorting out your ideal life finance may seem a difficult task, so don’t do it alone. It’s a good idea to get professional advice from an expert – as UK 'Brokers for Loans' we’re here to help.
Article on UK ‘Finance Brokers’ by Martyn Spencer Financial Adviser (2024)
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