Category: General

Buy a house without a deposit

Posted on by Walton & Allen

You can now buy a house without a deposit if you’re a first time buyer

Have you been struggling to save a deposit for a house? Do you feel like you will never be able to afford to buy your own home?

Thanks to the Post Office, you can now apply for a mortgage with zero deposit – Yes, you did read that correctly! So if you’re a first time buyer looking to step onto the property ladder then this could definitely be for you.

Will you be accepted for this mortgage?

This mortgage isn’t available for everyone. Firstly, you will need to ensure your parents house is currently mortgage free. You will also be assessed on your affordability. To do this a mortgage broker would take into account your yearly income, plus monthly expenditure and any loans or outstanding credit card balances.

How will this mortgage work?

This is a 90% loan to value mortgage. The 10% which would usually be your deposit will instead become an interest-free 5 year loan. Your parents home will secure the loan.

You as the buyer will then make two separate payments every month – one towards the mortgage and the other towards the loan.

How much will monthly repayments be?

These figures are approximate but to give you an idea:

If you are looking at a first time buy at £150,000 then you will be taking out a £135,000 mortgage and an interest-free 5 year loan of £15,000. On a standard 25 year term, and with an interest rate of 4.98% you will be paying approximately:

£787.00 per month for the mortgage
£249.00 for the loan
A total per month of £1036.00.

Of course, you’ll have to prove that you can afford this £1036.00 per month. You can find out if the Post Office will lend you this much money by talking to an independent mortgage broker. Our service is free to just have a chat, so why not talk to us now? Visit our mortgage advice page to book a phone or face to face chat.

What’s the catch?

Well, if you don’t pay your mortgage then your own home and your parents home will be put at risk. We would always suggest getting professional advice before applying for a deal such as this.

The other disadvantage is that the interest rate for the mortgage is pretty high at 4.98%. This is expected if you wish to buy a house without a deposit at all. The deal is fee-free, however.

Interested in this mortgage?

Talk to us today to find out if this deal could be right for you. Fill in the form below, or call 0115 9243304.

You can contact me for marketing purposes via:

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A mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. Think carefully before securing other debts against your home.

Online Mortgage Broker

Posted on by Walton & Allen

Online Mortgage Broker

Are you looking for an online mortgage broker who can give mortgage advice online? Walton & Allen have an online mortgage broker service where we can find you a mortgage deal without you leaving your home.

Our mortgage brokers compare the whole of the mortgage market to help find one of the best deals for you, based on your personal financial circumstances.

Unlike some brokers or banks, we can look at almost every deal available and are not affiliate with any particular lender. This means we could potentially save you money over your mortgage term.

Booking an online mortgage appointment

Use this form below to book an online mortgage broker appointment. We will get in touch via phone or email to book a Skype chat with you, at your convenience. We have over 25 years of experience in the mortgage and financial services sector.

Compare mortgages with our team as soon as today!

You can contact me for marketing purposes via:

EmailTelephone

A mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. Think carefully before securing other debts against your home.

What do we offer as an online mortgage broker?

We offer an initial free mortgage advice appointment, even over the phone or over Skype. During this time we will ask you several questions to analyse your financial situation. We can then find one of the best mortgage deals for you, based on this information.

During your chat with the online mortgage broker you will find out:

  • Which lenders will approve a mortgage based upon your personal financial circumstances
  • How much you could borrow from a mortgage lender
  • Which mortgage lenders have the best interest rates based on your income
  • How you can gain approval for a mortgage if you have any debts, CCJs or loans
  • How much your monthly repayments would be on a mortgage deal
  • And much more!

Mortgage Broker in Nottingham

If you would prefer to speak to a mortgage broker in person, please visit our offices at our estate agents in Nottingham.

Mortgage and Protection advice is provided through our association with Premier Mortgage Services (Nottingham) Ltd. By submitting your details through this mortgage calculator you accept that we will pass your information to them. Your details will never be shared with anyone else without your permission.

mortgage advice nottingham

Estate Agents Thurgaton

Posted on by Walton & Allen

Estate Agents Thurgaton

Are you looking for estate agents in Thurgaton? We offer free property valuations, property for sale, to rent and Thurgaton mortgage advice.

Thurgaton Property

Thurgaton had an overall average house price in the last year of £565,833. Property was generally more expensive than nearby Nottingham city centre, Southwell and Lowdham.

House prices are up a whopping 100% on last year and 22% on 2008, however this may be due to the very small amount of housing in the village.

About Thurgaton

The village of Thurgaton is 10 miles from Nottingham city centre and 3 miles from Southwell. It has a population of around 450 people. According to the offical website, it has around 10 listed buildings. Like many other small Nottinghamshire villages, it has a pub and village hall. Thurgaton is North East of Nottingham city centre.

The village has a bus service and a local railway station very close by.

Thurgaton Property Valuations

Are you looking to find out how much your property is worth in Thurgaton, Southwell or Lowdham? Get in touch with us using the form below to receive a free, no obligation property valuation. You may be surprised how much your house is worth!

You can contact me for marketing purposes via:

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Thurgaton Mortgage Advice

Walton & Allen Financial Services offer mortgage advice in Thurgaton and the surrounding villages of Nottinghamshire. We offer home visits, office appointments or chats over the phone. To receive advice to compare the whole of the mortgage market, fill in the below form or call 0115 9243304.

You can contact me for marketing purposes via:

EmailTelephone

A mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. Think carefully before securing other debts against your home.

Walton & Allen Estate Agents Nottingham provide property sales, lettings and mortgage advice.

Can’t Afford Your First Home? Think Again!

Posted on by Walton & Allen

Can’t afford your own home to buy?

Getting on the property ladder is the primary goal of many under 35’s (and some over that age too). It has become more common to rent for long periods of time before putting down routes. Whilst there are several reasons for this, what you really want to know is how you can obtain your first home.

It may seem like an impossible dream, but there are several schemes in places that can help you buy a home so we’ve summarised a few of the most popular below.

We also recommend booking an appointment with our dedicated mortgage advisers, who independently look at the whole of market to find a great deal that matches your circumstances. You can book a mortgage advice appointment here now.

Receive instant advice and see if you can actually afford your own home!

Click our purple chat button during weekdays, or leave a message! We’re here to offer advice and we wont try to sell you anything, we promise.

So how can you afford your own home?

The first thing to do if you don’t think you can afford your own home is talk to a mortgage advisor. Our team are rarely not able to find a mortgage for someone, even if they have a low desposit or a number of debts.

Why not talk to someone today, for free? It only takes 5 minutes and we can respond via phone, email or in person if you are close to our office. You’ll be surprised at what you can potentially afford even in your current situation and you may be putting an offer in on a house in no time at all.

Be quick though! Mortgage interest rates are expected to rise soon and deals could change.

You can contact me for marketing purposes via:

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Some of the below schemes may help you in affording to buy your first house. 

Help To Buy Scheme

  • Equity loan
  • You own a share of the property and can increase it over time
  • Pay rent on the part you don’t own
  • Own with a smaller deposit

Help to buy is an affordable home ownership scheme launched by the government. In a nutshell you will only own part of the property and pay rent on the rest. This scheme is most popular amongst those who can afford to pay a mortgage but can’t afford to save up a substantial deposit.

It enables you to buy a percentage of the property (for example 25%) which means you can buy with a much smaller deposit. For example on a £100,000 property this would mean a deposit of only £2500 for a 25% share. Whilst you pay into your mortgage you can set aside a little each month to save for a larger deposit, or you can increase your mortgage once you’ve paid some of it off.

You can eventually extend your share to 100%. It’s an excellent way to get on the property ladder if you’re struggling to save your hard earned money. And the best part is, although you’ll be paying rent on the part of the property you don’t own, you’ll still be building up equity in the part you do own.



Help To Buy ISA

  • Get up to £3000 towards your first home
  • For every £200 you save the government gives you £50
  • For first time buyers aged 16 and upwards
  • Couples can each have an HTB ISA
  • Used on property costing under £250,000 or £450,000 in London

The help to buy ISA was introduced in the UK last December. The aim of the scheme is to give first time buyers a helping hand towards getting a mortgage and rewarding you for your diligent saving at the same time.

You can open the account with a maximum deposit of £1000 and you may save up to £200 every month thereafter. You will be given a maximum of £3000 which means if you can save £12000 you will be eligible for the maximum bonus amount giving you a deposit of £15000.


Couples are treated separately so if you and your significant other choose to buy a house together you will both be eligible for the bonus and have double the money to put towards your mortgage.

 

5% Mortgages

  • Own your own home with a smaller deposit
  • Typically higher interest rates
  • Deposit of at least 5%

Whilst this isn’t technically a scheme, the availability of 5% mortgages has become more and more common over the last few years. Because many would be first time buyers rent, they have less disposable income to put towards a deposit.


The 5% mortgage makes owning a home more accessible than ever. There are some drawbacks with this method, you are likely to pay a higher interest rate because of your loan to value ratio; however it will afford you the opportunity to put money into your own home rather than spending it on rent.


You can then formulate a plan to save a further deposit and overtime you can pay off chunks of your mortgage and potentially reduce your interest rate.


Many first time buyers do this and accept a mortgage with the maximum term length and high interest rates. The reason for this is the monthly repayments become less and when they receive a pay rise or save up a large sum of money, they are then in a position to renegotiate their mortgage for a lower rate and a shorter term.

A very sensible move. Not all banks offer a 5% mortgage though and some may demand a guarantor so be sure to do your research.

 

Find out if you can actually afford your own home

Fill in your details for us to offer some free advice, no matter where you currently live or what your current financial status is.

You can contact me for marketing purposes via:

EmailTelephone

 


Visit our Financial Services page to book a phone or in-person appointment now, to see how much you can borrow on a house whatever your circumstances!


If you’re a first time buyer looking for a reasonably priced home in the Nottinghamshire area, why not have a browse at those on offer from Walton & Allen? Click here to find your dream property.

View our video blog with Paul, mortgage adviser in Nottingham.

We also have a first time buyers video guide for those who are looking to get on the property ladder. Watch here.

Nottingham Property Valuations

Posted on by James

Find out how much your home is worth

Are you looking to see how much your property is worth? Book a FREE valuation today.

You can contact me for marketing purposes via:

EmailTelephonePost

Why choose Walton & Allen?

  • We’ll use our local experts to value your property at the best possible price
  • There’s no obligation to use us to market your property
  • We will advise on how to achieve the most interest in your property sale
  • Walton & Allen will advise you every step of the way

Find out how Walton & Allen estate agents can sell your home.

 

What our clients say about us

Posted on by Walton & Allen

Every so often it is nice to look back on comments received from happy clients regarding work we’ve carried out through our estate agents, letting agents, block management, maintenance or mortgage advice team.

Here are some of our favourites over the last few months – Many thanks to everyone who took the time to leave their kind comments.

“My brother and I selected Walton Allen after meeting Nick Aston, Senior Valuer. We were impressed by his knowledge and experience and his proposal of how to market our dad’s property. (Sadly our dad had recently passed away.) Although his house is on a large piece of land suitable for development, when it’s your childhood home it’s always sad to think of it being demolished. Nick suggested a two prong approach to market as a house to live in and as a property to develop. He did a spectacular job of taking photos to present it at its best and even had ideas to remodel it. We had met with one other estate agent, although he was experienced and local, he didn’t have the same plan for marketing. Subsequently Tom Plackett negotiator took over the viewings and there were many soon after the photos were published. Within 2 weeks of it going on-line we had 3 offers, all to purchase and live in. Hopefully the sale will go as smoothly too, but regardless I would highly recommend Walton & Allen and use them again without hesitation.”

R. Mcgee – Vendor with our Estate Agents Nottingham branch

“Me and my partner recently bought a house through Walton & Allen. Found them to be prompt, clear with communication, friendly and professional. Pleased with everything from arranging the viewing through to completion.
Special thanks to Manisha for all her understanding and help with two inexperienced house buyers.
Would recommend them to anyone.”

Mancy – First time buyer with our Estate Agent team

“Excellent service — i have been a long standing landlord and am always impressed with the level of communication and attention to detail”

M. Atkinson – Long standing Landlord

“Fantastic service from both Paul Meakin and Manisha Malla. Manisha chased our buyers when necessary and was excellent throughout, and Paul got us a great mortgage. They made the whole process feel easy. Highly recommend.”

M. Brown – Vendor and mortgage applicant through Walton & Allen mortgage advisors

Further to my review around 3 months ago regarding the work of Mark Batty in obtaining RTM for our apartment block I would now like to add that in the first three months of working with Walton and Allen they have saved us around 50% of the management fees that we were paying with our previous agent and around 15% on some of our contracts. They are continuing to plough through every existing contract for us to see where they can save even more. Of course its not all about saving money, its about service as well. We have found Mark Batty to be excellent in replying quickly and easing our concerns. I have to admit that in the few ‘misunderstandings’ that we have had along the way to RTM, when we have listened and absorbed what has been told us (and even calmed down in some cases!!), Mark Batty has always been correct. Thank you Mark for your patience with us and looking forward to many years with Walton and Allen.

L. Thumwood – Director RTM company, Walton & Allen Block Management

Landlords: Save £255 per rental property

Posted on by Mark Batty

Selective Licensing: Save £255 per rental property you own within the Nottingham City Council area

Further to my previous blog on 18th July this week, regarding the impending Landlord Licensing Scheme proposals, I add further update and advice.

The Council’s revised proposals and recommendations were approved on Tuesday and it is expected to be rubber stamped by The Secretary of State for the Department for Communities and Local Government. The implementation date is set for 1st January 2018.

All Landlords owning a property within the revised Nottingham City Council boundaries, as specified, will have to pay a licence of £655 per property if they are not accredited. If they are accredited then the fee is reduced to £400. Please click on the map to find out if your properties are captured.

selective licensing nottingham map

Walton and Allen is committed to saving its Clients unnecessary fees and strongly urges those affected by this ‘tax’ to minimise their costs. Those Landlords who are not our Clients are also urged to take our advice. Has your current agent contacted you and advised you about this? If not, we would be happy to assist, once our current Clients have been serviced.

The writer, Mark Batty, is also a Landlord in the city centre, captured by this new charge but he has reduced his liability from £655 to £400 per property, and you can do the same, by following his advice;

Mark states;

I contacted a local accreditation body called DASH Services and registered myself and my property online.at www.dashservices.org.uk.

Once signed up I was given an access code to an online course of 6 modules. The initial registration only took me 15 minutes but the online course took 3 hours, although DASH expect an average Landlord to take 6 hours.

Each module had a multiple choice questionnaire at the end which requires a 100% success rate. If you answer any questions incorrectly, you can go back and correct them, although your first answers are recorded, so please make sure you listen to the videos carefully and interact with the other parts properly. You must pass, otherwise you won’t qualify for the £255 saving per property.

Once you have passed the theory test, DASH will inspect your property. DASH will arrange this with you direct.

It appears that the inspectors only work on Saturdays and not during the week.

If you are a joint owner of a property then only one of you needs to become accredited. If you hold the property in a limited company, only one Director needs to become accredited but any other Directors need to be listed. If the accredited Director resigns, then another Director needs to become accredited.

There is no monetary cost to become accredited other than time, although if you cannot attend the inspection a third party is likely to charge you for it.

To retain accreditation, a Landlord must complete 10 hours each year of CPD (Continued Professional Development) which means that you are required to prove that you have kept up to date with relevant legislation by reading, courses etc. In the first year, you will have already completed 6 hours through the accreditation process.

An additional inspection by the City Council is also likely. However, the Council has indicated that only 10% of accredited Landlord’s properties will be inspected, and 50% of non-accredited Landlord’s properties will be inspected. The further savings are obvious. Multiple property landlords will not need all properties to be inspected.

The only good news is that the licensing costs are tax deductible at your prevailing rate.

We urge all of our Clients to become accredited, despite the effort that is required. It will help your property be more marketable, the next time it is advertised for rent, as any prospective tenant will know that his/her new Landlord is an accredited one. Walton & Allen are looking at every angle to increase rents (we call it ‘marginal gain’), and accreditation is one of them. We have more angles in the pipeline to help our Landlords properties to be more in demand from tenants, so pushing rents upwards.

So, we implore you to help yourselves and become accredited through DASH.
Should you require any further information then please do not hesitate to contact Mark Batty mark@waltonandallen.co.uk.

Good luck in your studies!

First Time Landlord Checklist and Advice

Posted on by Ricky Benwell

landlord checklist

Are you a first time Landlord?

Walton & Allen Letting Agents Nottingham have produced a checklist for first time Landlords who are looking to rent out their property.

This includes everything you need to consider to make yourself legally prepared, as well as to ensure you don’t run into any difficulties along the way.

The list is not fully comprehensive, however we feel this shows almost everything you would have to think about before letting to tenants.

Not a first time investor? See how we can help you with our buy to let services.

Are you a complete beginner as a buy to let landlord?

There is so much to think about when considering a buy to let property. You need to consider investment yields, costs, legal requirements, day to day management and more! This checklist will certainly help you on your way, although we would always recommend speaking to a professional about the benefits and potential risks.

Should you need any further advice, you can always contact me, Investment Manager Ricky, who would be happy to answer any questions with no obligation to use our services. I manage many investments for multiple landlords and investors across the country.

Receive your free First Time Landlord Checklist via email

Your Name (required)

Your Email (required)

Your Phone (optional)

Comments (optional)

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investment manager ricky

Alternatively, you can contact me personally, using the form below, for some in-depth investor advice.

 

You can contact me for marketing purposes via:

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Mortgages – A Beginners Guide

Posted on by Walton & Allen

Buying your first or even your next property can be a very daunting journey.

Before you embark, you need to make sure that it is affordable, know what different types of mortgage there are and how the whole process works. We are there with you, every step of the way.

 

Affordability

The key to this is not to overstretch yourself; our Mortgage Calculators will give you a good estimate of the maximum mortgage available to you. But there’s more to think about. As well as the mortgage payments, there’s also the running costs of the property, things such as Council tax, Utility Bills, Insurances, and Maintenance. You also need to make sure you can maintain your lifestyle – We all like our holidays!!

We will carry out a full fact find and budget planner and tailor our advice & recommendations to suit your needs

 

Deposit

Size Matters! When buying a property, you will need to provide a deposit – the more deposit you have, the cheaper the mortgage products may be. A larger deposit means a lower mortgage; the amount you borrow in relation to the purchase price is known as the Loan to Value (LTV). Lower Loan to Value mortgages tend to attract the better deals.

 

Purchase

Once you have found your new property and had an offer accepted it is time for us to put in the full application to the mortgage provider. The Lender will want to survey the property to make sure it’s worth what you are paying for it, remember it’s their security too! There are 3 levels of survey that you can chose from depending on how in depth you wish the surveyor to inspect the property for you. You will receive an inspection report highlighting any issues, if any, that have been found.

 

What happens after you move in?

Our service and relationship doesn’t just end when you move in. Our continued mortgage review service will make sure that when your deal is ends we are there to find another competitive deal!

If you are Buying your first home, Moving, Re-mortgaging, Capital Raising, thinking of becoming an Investor or adding to your portfolio then we want to help you

Why not pop into one of our branches or give us a call to make an appointment.

 

To book an appointment right now, click here and fill out our financial services contact form.

Your home may be repossessed if you do not keep up repayments on your mortgage. Think carefully before securing other debts against your home.