Mortgage Approvals for Buying Increase Dramatically

Mortgage approvals for those buying houses have hit the highest level since January 2018. This is according to The Times.

Bank of England data shows that in October banks approved 67,086 home loans. This is up 2% on a monthly basis.

Previously remortgage levels had dominated the market but these remained fairly flat at 49,399. This highlights the fact that more first time buyers are also looking for properties.

How does this affect those looking to sell?

Despite uncertainty with Breixt, these figures show that property purchases remain fairly unaffected. If you were waiting on Brexit to put your house on the market then there may now be no reason to wait at all.

Along with mortgage deals going up, Rightmove also report that property sales agreed are also up by 1%. People are still looking to buy and deals are still going through.

In addition to this, house prices in Nottingham are also up 3.7% on this time last year.

Find out how much your property is worth and how quickly you can sell

Interested in knowing the facts about selling before the end of 2018? Call us now on 0115 924 3304 or use the form below to ask any questions.

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We also have an instant valuation tool to find out how much your property is worth.

Compare the Best Mortgage Deals

Compare the best mortgage deals and rates with our recommended brokers

Are you looking to compare the best mortgage deals? We have a highly qualified team of recommended mortgage brokers who can compare the whole of the market for you. This means they should be able to find one of the best deals available to you, based on your own finances.

How does comparing the best mortgage deals work?

Our recommended mortgage brokers will have a quick initial chat with you. This should last no longer than 10-15 minutes and is free of charge with no obligation to use their services. During this time they will ask you about your current finances, including your average monthly income. You can talk to them over the phone, in person at our Estate Agency branch or in the comfort of your own home. Just call 0115 924 3304 or use the form below.

How do our mortgage brokers compare the whole of the market?

Our recommended mortgage brokers will be able to compare almost every mortgage deal available using their dedicated system. They may also have some special unique mortgage deals only available to brokers which could save you some money. They will help you choose a deal which could benefit you most and should be able to save you money over the whole mortgage term.

Do I need to have found a property before I receive mortgage advice?

Absolutely not! Most buyers come to us before they have really begun their property search. The advice given by our mortgage brokers will help you find your maximum affordable purchase price. You can also receive an Agreement in Principle which will help you prove to an Estate Agent that you can afford to buy the property you make an offer on.

What if I have an existing mortgage?

We can also help you with finding one of the best remortgage deals. We would always advise to shop around before you agree to stick with your existing mortgage lender. Talk to us today to see if we can save you any money. Just call 0115 924 3304.

Compare buy to let mortgage deals

If you’re looking to get a buy to let mortgage then we can also help you compare deals. Whether you’re buying your first investment property or looking to increase your portfolio, we can help! Buy to let mortgages are perfect for those looking to rent their property out, although you are likely to need a higher deposit. Whilst you are looking for buy to let mortgage advice, why not chat to our Lettings Team? They will provide you with advice on the maximum monthly rental figures you can achieve.

Get mortgage advice today

Call 0115 924 3304 and ask to speak to our broker, or arrange an appointment. Alternatively you can use this form below.

You can contact me for marketing purposes via:

EmailTelephone

Mortgage and Protection advice is provided through our association with the mortgage brokers at Premier Mortgage Services (Nottingham) Ltd. Depending on your circumstances a fee of between 0 – 1.5% of the loan amount may be payable.  A typical fee is £350.

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.

A Brief History of Mortgage Rates

When looking at a new mortgage deal it is easy to forget that interest rates used to be a lot higher. It has been almost 10 years since rates dropped massively from 5.5% in 2007 to 0.5% in 2009.

We take a look at historic interest rates and the factors which affected them.

18th and 19th century mortgage rates

Interest rates stayed at around 4% or 5% throughout most of the 18th century. As we moved into the 19th century there was a bit more volatility. Interest rates moved anywhere between 4% and 10%. This was also similar to the beginning of the 20th century.

1979

Margaret Thatcher’s government raised interest rates to a whopping 17%. This was great for savers but not good for those with mortgages. The reason for this was to try to combat inflation. Interest rates lowered a large amount throughout the start of the 1980s but started to rise again towards the end of the decade. This was mainly due to rising house prices.

1997

After a landslide victory for the Labour party, Chancellor Gordon Brown made the Bank of England independent from political control. Interest rates began to dip from 7.25% down to 4% by 2002.

The mid 2000s

Interest rates were raised once more amongst fears that the economy was over inflating. Mortgage rates rose from 3.5% in 2003 to 5.75% by 2007.

2007 to 2018

The global financial crisis saw the base interest rate drop to the lowest point in 300 years. Rates fell to 0.5% in March 2009 and then fell even lower to 0.25% in August 2016.

2017

The base rate rose for the first time in almost 10 years, back to 0.5%. This affected many who were on variable rate or tracker mortgages. Those who were or still are on fixed mortgage deals were not affected at the time.

Looking toward the future

Interest rates are still very low compared to previous years. They may stay the same for a while or could increase slightly. Many people looking to get new mortgage deals are looking for longer fixed rate deals which will secure their interest rate for 2, 5 or even 10 years. This means that whatever happens their mortgage payments should stay the same for this term.

We would always suggest talking to a mortgage broker as some deals may be better for you than others, based on your financial circumstances.

You can talk to our trusted mortgage brokers by calling 0115 924 3304. Alternatively, you can use the form below to get some free initial advice.

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.

Full list of interest rates

Below is a full list of mortgage interest rates throughout previous years.

Bank of England base rate 1979-2017

Bank rate at year end (%)*
197917
198014
198114.375
198210
19839.0625
19849.5
198511.375
198610.875
19878.375
198812.875
198914.875
199013.875
199110.375
19926.875
19935.375
19946.125
19956.375
19965.9375
19977.25
19986.25
19995.5
20006
20014
20024
20033.75
20044.75
20054.5
20065
20075.5
20082
20090.5
20100.5
20110.5
20120.5
20130.5
20140.5
20150.5
20160.25
20170.5

 

 

Mortgage Advice Arnold, Nottingham

Walton & Allen offer mortgage advice Arnold

Are you looking for mortgage advice in Arnold, Nottingham? Perhaps you are looking to buy a house in Woodthorpe, Daybrook, Bestwood, Mapperley, Sherwood or other surrounding areas?

Walton & Allen offer free initial mortgage advice which compares the whole of the mortgage market. This means the mortgage brokers we work with can look at almost every deal available, based on your financial circumstances.

You can contact our mortgage advisors by calling 0115 9243304 or by popping into our offices in the Lace Market, Nottingham.

How does mortgage advice in Arnold work?

So, how does our mortgage advice Arnold work?

An initial appointment with our mortgage brokers is free of charge. You can chat to the broker over the phone, at our Nottingham office or in the comfort of your own home.

By providing our trusted mortgage broker with a small amount of information they can compare the market. They will then be able to recommend a suitable one for you personally. This recommendation may be down to the monthly payments, the deposit amount available or perhaps your credit score.

Once you choose a deal that suits you we can help you apply for this and follow it through to completion. We’ll always be around to advise you along the way and will provide you with updates as and when we receive these from the mortgage lender.

What will you need for your mortgage  advice appointment?

It would be ideal if you can provide our mortgage broker with 3 months payslips to begin the process. We will also need to know if you have any credit card debts or loans. Another key thing lenders like to know is your average monthly spending.

Get your mortgage advice today

Based on this information, why not call us today on 0115 9243304? Alternatively you can use the form below to request your advice. At the same time, why not look at available properties for sale in Arnold?

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.

Mortgage and Protection advice is provided through our association with Premier Mortgage Services (Nottingham) Ltd. They have decades of combined experience working to find some of the best mortgage deals available to you.

What do we offer with our mortgage advice in Arnold?

We cater for almost every mortgage need, including, but not limited to:

  • Self employed mortgage advice
  • First time buyer advice
  • Remortgage advice
  • Buy to let mortgage advice
  • Help to buy
  • Limited company mortgage advice
  • Any complicated situations

However easy or complicated your situation is, our mortgage broker will do everything they can to try and help. You may still be able to get a deal whether you are free of debt or if you have a CCJ or credit card debt.

First time buyer mortgage advice in Arnold

We are very happy to help if you are a first time buyer looking to buy your first home. If you have no idea how to apply for a mortgage then our mortgage brokers will explain everything to you, and run you through the whole process. There’s no need to worry about a thing. They’ll then look at some of the best options for first time buyers and for you as an individual (or couple). Whilst you’re chatting about your first time mortgage, why not chat to our sales team about first time buyer schemes and see which first time buyer properties we have available to buy?

Walton & Allen now works with Premier Mortgage Services

We now recommend Premier Mortgage Services for Mortgage Advice in Nottingham

Walton & Allen are pleased to announce they are now using the services of mortgage brokers Premier Mortgage Services to continue to provide an excellent mortgage advice service throughout Nottingham.

Clients will now be able to choose to receive mortgage advice at their offices in Stapleford, as well as our Estate Agency in Nottingham, or at the client’s own home.

About Premier Mortgage Services

Premier Mortgage Services have been trading over 26 years and provide whole of market mortgage advice, much like Walton & Allen Financial Services. This means they are able to compare the whole of the mortgage market to find one of the best mortgage deals available for you. They may also have access to exclusive mortgage deals which individual banks may not be able to offer.

They can deal with

  • Standard mortgage advice
  • Self employed mortgages
  • Buy to let mortgages
  • First time buyer mortgages
  • Adverse lending
  • Good affordability stretch
  • Remortgage advice
  • Moving house mortgage advice
  • And much more!

Premier are also experts in protection, whether you’re looking to insure you and your family or protect yourself from not being able to work.

Need mortgage advice?

Call Premier Mortgage Services on 0115 924 3304 or use the form below to arrange an appointment. You can chat either over the phone, over email, in one of our offices or at your own home, all at a time that is convenient for yourself. All mortgage brokers at Premier are here to help you and are not affiliated with any particular lender!

You can contact me for marketing purposes via:

EmailTelephone

How does it work?

When looking to receive mortgage advice, the following will happen.

  • The brokers at Premier Mortgage Services will work out how much you should be able to borrow based on your personal financial circumstances
  • They will then produce an ‘Agreement in Principle’ which will help you to make offers on properties with an estate agent such as ourselves
  • Once an offer on a property has been accepted they will apply for your mortgage and see it through to completion
  • They’ll answer any questions you may have a long the way
  • They can also offer protection to save you if a sale falls through, or if you lose your job and cannot pay your mortgage once you are moved in

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.

mortgage advice

Bank of England raises interest rates: What does this mean for mortgages?

Mortgage rates rise to the highest rate since 2009

The Bank of England has raised interest rates from 0.5% to 0.75%, the highest rate since 2009. The base rate is set by the Bank of England and is used by banks to calculate interest rates, although it is not compulsory to follow it.

Although this is not a huge increase, this is just another expense for home owners who have already had to take on hikes in council tax and energy prices.

What does a rise in interest rates mean for mortgages?

The rise in interest rates will immediately affect over three and a half million mortgages where monthly repayments are likely to rise. This is if these mortgage deals are on a tracker or variable rate.

Royal Bank of Scotland, Natwest and Ulster Bank have all put up their variable mortgage rates with immediate effect. Barclays have said they will up their rates on 1st September 2018.

How can you avoid a rise in your mortgage payments?

If you’re on a fixed rate mortgage currently then there is no need to panic. Your mortgage payments should remain the same until the end of your contract term.

If you are on a tracker or variable rate and your mortgage payments have risen then you may be able to move to a fixed deal. Check your mortgage deal though to see if there will be a fee to do so.

What are your next steps?

If you’re confused about any of this, or just want to look at a great fixed deal for yourself, why not talk to our mortgage broker? There’s no fee to chat and we can compare the whole of the market to find one of the best deals for you. Call 0115 9243304 or use the form below to leave us a message.

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.

 

 

 

Self Employed Mortgage Advice Nottingham

Self Employed Mortgage Advice in Nottingham

Are you looking for self employed mortgage advice in Nottingham? We have listed some important points below for those looking to get self employed mortgage advice.

It’s a common thought that people who are self employed may have more trouble getting a mortgage than those who are employed. This is not always the case though!

If you are completely self employed (sole trader), the owner of a limited company and receive a salary, dividends or a mixture of both then we can help you.

What you’ll need for self employed mortgage advice

Lenders like to see proof of a steady income before they decide to approve a mortgage, so you will need proof of income. They will usually equire evidence of this from the last two to three years, although some lenders may be able to work with just one year.

When you apply for a mortgage, or talk to a mortgage broker, you’re likely to need the following documents:

  • Photo ID
  • Address ID – Such as a utility bill or bank statement
  • Proof of deposit
  • 2-3 years SA302 and tax year overviews

Improve your mortgage application chances

You must take into account some other factors when applying for a mortgage, whether you’re self employed or not. You’ll need to declare if you have any outstanding credit card balances or debts and usually will need to list your monthly expenditure. Most importantly, ensure your spending is in order and try to boost your credit rating when you can.

If you are a tenant renting a property through Walton & Allen Letting Agents Nottingham, you can apply for your rental payments to affect your Experian credit rating. So, if  you pay on time and in full every month, your credit rating could go up.

You can also check your credit rating for free using Experian or ClearScore, amongst others.

Talk to a mortgage broker

So, are you ready to find out how much you can borrow if you’re self employed? You can talk to our specialist self employed mortgage broker either by calling 0115 9243304, or alternatively use the form below. All mortgage situations considered!

Please note that we are not affiliated to any particular lender, although we are a traditional high street estate agent. This means we will attempt to find you one of the best deals possible by comparing the whole of the mortgage market.

You can contact me for marketing purposes via:

EmailTelephone

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. We never share your details without your permission.

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.

 

First Time Buyer Mortgage Advice

Do you need first time buyer mortgage advice?

Are you looking for first time buyer mortgage advice or first time buyer mortgages? Whether you have already found a first home or

We lay out some important tips for how to potentially get some of the best first time buyer mortgage deals.

Can you afford a first time buyer mortgage?

It may seem like a silly question, but ensure you can afford all the costs associated with a mortgage. When seeing a broker for first time buyer mortgage advice they will be able to explain all the costs to you. To give you an idea though, you have many costs which need to be considered, including:

  • Deposit
  • Monthly payments
  • Interest rates
  • Living costs
  • Insurance

Other costs which you may not have thought about include the fees involved in buying a house. You’ll have to pay legal fees to your Solicitors, stamp duty if your first home will cost over £300,000 and obviously moving costs such as removal firms or buying new furniture.

An ideal place to start would be to see a broker for free initial advice. Our recommended mortgage brokers at Premier Mortgage Services can compare the whole of the market to look at all first time buyer mortgage deals. This comparison will be based on your personal financial circumstances, so you know you are getting tailored advice which should work out as one of the best mortgage deals for you.

Understand the different types of mortgage

There are several different types of mortgage. Would you prefer to get a fixed rate mortgage where your monthly payments stay the same? Another option would be to go with a tracker/fixed rate mortgage where your payments could move depending on the Bank of England base rate. If you choose to go with a fixed rate mortgage, should you go for 2 years, 5 years or more? These are all things that can be explained by a mortgage broker if you are unsure of the best option for you.

Look out for first time buyer schemes

There are plenty of first time buyer mortgage schemes to help you take your first step onto the property ladder. When looking for first time buyer mortgage advice it may also be beneficial to look at our help to buy advice page. You could be eligible for certain schemes.

It is also advisable to look at options such as a Lifetime ISA or a Help To Buy ISA, where the government will top up your savings by 25% once you purchase your first home.

Prepare early to attract good mortgage lenders

Remember, mortgage lenders need to know that you will be able to pay back the money you’ve borrowed. They calculate this using a variety of information, although some of the most obvious ways are your annual income, any loans or credit cards and your credit rating.

You can look at keeping your credit rating healthy early on by ensuring you manage your credit card and monthly outgoings well. Lenders may also look to see if you can manage paying regular bills such as a phone contract. Also remember to look at your monthly outgoings including social outings, gym memberships and even your spend on groceries and transport. Lenders may not allow you to borrow as much if your spending habits are very high compared to your income.

If you are a tenant renting a property through Walton & Allen Letting Agents Nottingham, you can apply for your rental payments to affect your Experian credit rating. If  you pay on time and in full every month, your credit rating could go up.

You can check your credit report for free using a number of different services, including Experian or ClearScore.

Collate the necessary documents early

You’ll need certain documents to find out which mortgage deals can be best for you. When you see a mortgage broker, whether at Walton & Allen or elsewhere, you’ll need the following:

  • Photo ID
  • 4 months payslips and bank statements
  • P60
  • Address ID – Such as a utility bill or bank statement
  • Proof of deposit
  • If self employed mortgage, 2 years SA302 and tax year overviews

You may not need these documents for an initial chat about first time buyer mortgage advice, although it would be helpful to have them ready should you wish to go ahead with a recommended mortgage deal.

Chat to a mortgage broker!

Any good mortgage broker will be able to compare the whole of the mortgage market for you, finding you one of the best mortgage deals available. An initial chat with our brokers for first time buyer mortgage advice is free of charge and will give you a good idea about how much you can borrow. You can also find out what your monthly repayments would be. Why not fill in the form below to receive a call back, or call 0115 9243304 today.

You can contact me for marketing purposes via:

EmailTelephone

If you’re a first time buyer and are completely new to mortgages then we have everything covered for you! We’ll explain the whole process so you fully understand and then will find one of the best mortgage deals for you. You can also chat to our sales team within our estate agent branch. They will be able to show you some properties suitable for first time buyers.

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.

Mortgages: Use our Nottingham Mortgage Calculator

How you could potentially save £400 with our mortgage broker

You could end up paying up to £400 extra on your mortgage every year. This is if you do not compare the whole of the mortgage market, according to Mortgage Strategy.

So, how could this happen? If you go direct to your bank or take advice from brokers who are not whole of market then you may end up paying more. Whole of market means the mortgage broker can look at almost every lender available.

The Financial Conduct Authority (FCA) have published a report. This analyses mortgage broker panels that contain a limited amount of lenders. Their findings reveal that these smaller panels can lead to recommendations from lenders with more expensive products.

The FCA have released a statement. “Based on our data analysis, we found that intermediary firms use a small number of lenders recommend more expensive products on average compared to intermediary firms who use a great number. The price difference could be around £400 for the first year of the incentivised period of the median loan amount.”

How you could potentially save £400 on your mortgage

Walton & Allen are pleased to be able to compare the whole of the market, where our panel includes almost every available lender. This means we are always looking to find you one of the best deals possible, based on your financial circumstances.

To talk to a mortgage broker today you can call 0115 9243304 or use the form below to request an appointment. 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. We will never share your details without your permission.

You can contact me for marketing purposes via:

EmailTelephone

Our mortgage brokers will provide advice either at our offices or at your own home. They also have an office in Stapleford too. Moreover, they will always attempt to book appointments at a time to suit you.

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 and Allen Financial Services Ltd is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority. Registered Office: 3 Derby Road, Ripley, Derbyshire, United Kingdom, DE5 3EA. Registered Company Number: 10063471 Registered in England & Wales.

We have sourced this information from Mortgage Stratergy

Nottingham Mortgages

Nottingham mortgages and mortgage services

Finding the right Nottingham mortgages can be very stressful and time-consuming, especially when doing it with little experience. In this day and age you can find a lot of information on comparison websites which may help you, but lenders pay to get their products featured, and these comparison sites don’t cover all the deals that are available in the marketplace. Some of the best ones are only available through intermediaries and you may miss out on the deal that is right for you.

Without some good advice and help, you could find yourself making hundreds of enquiries, but still not feeling confident you’ve found the right deal for your financial circumstances. Figures state that these days over 70% of buyers are choosing to seek out independent financial advice. Feedback also suggests that people want to work with a mortgage adviser because they value the personal service they receive.

Need a mortgage broker? Find out how we can help you with initial free, independent mortgage advice.

Helping you make the right choices every time

Wherever you are on the housing ladder, if you’re looking for your next mortgage, you’ll naturally have choices, lots of them; but would you know which is the best option for you? Should you opt for a tracker mortgage or go for a fixed-rate deal? If you want to fix your rate, what are your options? Are mortgage deals that offer ‘extras’ worthwhile? Do they represent good value for money? Can I get a buy-to-let mortgage? Making the wrong choice about your mortgage could mean that you end up paying hundreds, even thousands of pounds more than you need to.

Your mortgage questions answered

By talking to us, rather than trawling hundreds of websites and spending hours putting in applications to a range of lenders, not only will you save yourself stress and time, you’ll be able to tap into a wealth of good advice that can help ensure you make a success of your property purchase.

Mortgage advisers, such as ourselves, undergo professional training and know an awful lot of useful stuff, not only about the mortgage market, but about the whole home-buying and selling process. We can also offer tips on everything from drawing up a budget for your move, to getting the right type of survey done, to choosing a solicitor or conveyancer.

The key to offering a great service? We offer independent advice, and are on your side. We’ll be able to help you every step of the way, offering advice on making sure your finances are in order before you put your application in, and helping you put in place the right type of insurance policies to protect your mortgage and your home.

Making your application

Although all lenders operate broadly the same lending criteria, the way in which we interpret the rules will differ. We can ensure that your application is made in the right way and to the right standard for that lender. We will handle all the paperwork, and keep you up-to-date with how your application is progressing. If you’d like help with your mortgage, then do get in touch.

Your next steps

Talk to us today about how we can help you with any Nottingham mortgages. We offer free initial advice, either over the phone, in person at our office or at your own home. Talk to us using the form below, or by calling 0115 9243304.

You can contact me for marketing purposes via:

EmailTelephone

Your home may be repossessed if you do not keep up repayments on your mortgage.

nottingham mortgages