Author: Mortgage Options NI

THE VALUE OF INDEPENDENT MORTGAGE ADVICE

Independent mortgage advice can be incredibly valuable for individuals or families looking to secure a mortgage for buying a home or refinancing an existing one. Here are some of the key reasons why independent mortgage advice is important:

  1. Objective Guidance: Independent mortgage advisors don’t have ties to specific lenders or financial institutions. This means they can provide unbiased and objective advice. Their primary goal is to find the best mortgage solution for you, not to promote a particular lender’s products.
  2. Access to a Wide Range of Options: Mortgage brokers and advisors have access to a wide network of lenders, including those that may not be easily accessible to the average consumer. Some of the top lenders do not deal directly with the public. This can open up a broader range of mortgage options and potentially lead to better terms and rates.
  3. Tailored Recommendations: Independent advisors can assess your specific financial situation, goals, and needs. They can recommend mortgage products that are tailored to your individual circumstances, ensuring that you get a mortgage that suits you best. This can save you a lot of money in the long term. If you need to contact us, https://mortgageoptionsni.co.uk/contact/
  4. Time and Stress Savings: Searching for the right mortgage can be a time-consuming and stressful process. Independent advisors can save you a significant amount of time and effort by doing the legwork for you, including researching and comparing different lenders and their offerings.
  5. Expertise and Experience: Mortgage advisors are typically well-versed in the mortgage market and have experience dealing with various financial situations and credit profiles. They can guide you through the complexities of mortgage terms and conditions, helping you make informed decisions.
  6. Negotiation Skills: Experienced advisors often have good negotiation skills. They can negotiate on your behalf to secure better terms, lower interest rates, or reduced fees from lenders. This can potentially save you money in the long run.
  7. Compliance and Regulation: Mortgage advisors are usually well-versed in mortgage regulations and compliance standards. They can help ensure that you meet all the necessary legal and financial requirements, reducing the risk of complications or issues during the mortgage process.
  1. Cost Savings: While mortgage advisors charge a fee for their services, their ability to find more favorable mortgage terms or uncover hidden fees can potentially save you money over the life of your mortgage.
  2. Ongoing Support: Mortgage advisors often provide ongoing support even after your mortgage is secured. They can assist with any questions or issues related to your mortgage, helping you manage your mortgage effectively over the years.
  3. Peace of Mind: Having a trusted professional by your side can provide peace of mind during what can be a stressful financial process. You can be confident that you’re making informed decisions with someone looking out for your best interests. For a free chat to answer all your questions visit www.mortgageoptionsni.co.uk or call 02825 898625 and ask for Ross.
  4. Ross has 43 years of experience in the mortgage and insurance market.

In conclusion, independent mortgage advice is valuable because it can save you money, time, and stress, while also ensuring that you secure a mortgage that aligns with your unique financial situation and goals. It’s often a worthwhile investment for anyone seeking a mortgage.

REMORTGAGE TO A 5.75% FIX

Remortgaging, also known as refinancing, refers to the process of taking out a new mortgage on a property that you already own. This new mortgage is used to pay off the existing mortgage, and it may also involve borrowing additional funds against the equity in your property.

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People choose to remortgage for various reasons, including:

  1. Obtaining a better interest rate: If interest rates have decreased since you initially took out your mortgage, remortgaging can allow you to secure a lower interest rate, potentially reducing your monthly payments.
  2. Accessing equity: Remortgaging provides an opportunity to release some of the equity you have built up in your property. This can be useful for home improvements, consolidating debt, or funding other expenses.
  3. Switching mortgage deals: If you’re approaching the end of a fixed-rate or discounted-rate period, remortgaging allows you to switch to a new mortgage deal. This can help you avoid moving onto a higher standard variable rate (SVR), which tends to be less favorable.
  4. Changing loan terms: Remortgaging provides an opportunity to modify the terms of your mortgage, such as the duration or repayment structure. For example, you may choose to switch from an interest-only mortgage to a repayment mortgage.

When considering remortgaging, it’s important to weigh the potential benefits against the associated costs. These costs may include arrangement fees, valuation fees, legal fees, and early repayment charges on your existing mortgage. It’s advisable to seek advice from a mortgage advisor or broker who can help you assess your options and determine whether remortgaging is the right choice for your circumstances.

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Mortgage Options ni

Mortgage Options ni

What the BOE rate rise means for Ballymena and Antrim homeowners

  1. Mortgage Rates: An increase in the BOE’s interest rate can lead to higher borrowing costs for homeowners with variable rate mortgages or those looking to refinance. If mortgage rates rise, it could result in higher monthly mortgage payments for homeowners in Ballymena and Antrim who have variable rate mortgages or those whose fixed-rate mortgages are up for renewal.
  3. Affordability: Higher mortgage rates can impact affordability for potential homebuyers. With increased borrowing costs, some individuals may find it more challenging to qualify for loans or afford the same level of mortgage repayments. This could potentially slow down the housing market in Ballymena and Antrim.
  4. Housing Market: Rising interest rates may contribute to a cooling of the housing market. With increased borrowing costs, demand for homes may decrease, leading to a potential decline in property prices or slower appreciation rates. Homeowners looking to sell their properties might experience a more challenging market environment.
  5. Savings and Investments: On the other hand, higher interest rates can be positive for savers. Banks may offer higher interest rates on savings accounts and other fixed-income investments, providing an opportunity for homeowners in Ballymena and Antrim to earn more from their savings.

It’s important to note that the impact of interest rate changes can vary depending on individual circumstances, market conditions, and the overall economy. It’s always advisable to seek personalized advice from financial professionals at www.mortgageoptionsni.co.uk who can provide tailored guidance based on your specific situation and the current market conditions.

You could save up to £300 per month with a remortgage with one of Northern Ireland’s leading mortgage brokers.

imagesThousands of homeowners could be saving hundreds of pounds on their mortgage deal. Call us on 02825 898625 or click on our web site http://mortgageoptionsni.co.uk/contact-us/  to find out how much you can save.

Remortgage in Antrim

Many people in Antrim begin their mortgage search by looking for the cheapest mortgage rates in the market, but it’s important to remember that low mortgage rates aren’t the whole story. These best mortgage rates give you an idea of the mortgage deals in the market, but aren’t necessarily the right mortgage for you, and may not be available to you.  A certain rate might look attractive, but it’s important to look at other factors like additional fees, conditions and the term of the loan that come along with it.

The Northern Ireland housing market remains in an optimistic mood despite the political impasse.

The Northern Ireland housing market remains in an optimistic mood despite the political impasse and Brexit fears according to the latest residential market survey from the Royal Institution of Chartered Surveyors (RICS) and Ulster Bank.

House prices rose in October according to the balance of local respondents, and they expect both prices and sales activity to increase in the three months ahead.

The headline price balance for Northern Ireland was +38% in the latest survey, meaning that 38% more surveyors said that prices rose in the past three months than those who said they fell.

The price expectations balance, at +31%, remains positive and above all other UK regions. Meanwhile, sales expectations data (+18%) is also the most positive in the UK.

However, data for newly agreed sales (-5%), new buyer enquiries (+3%) and new instructions (+3%) were all broadly flat.

Looking further ahead, Northern Ireland surveyors are also positive about the prospects for house prices over the next 12-months, in contrast to respondents from most other UK regions.

However, Northern Ireland surveyors continue to report that a lack of housing stock is a challenge for the market.

Indeed, new instructions to sell were broadly flat in October.

“We continue to see a relatively upbeat picture being painted of the Northern Ireland housing market,” said RICS residential property spokesman, Samuel Dickey.

“Surveyors anticipate that this will continue into 2018; albeit that there are some challenges for the market, including limited supply, alongside rising inflation and the fact that interest rates are edging upwards.

“What is clear though is that Northern Ireland’s housing market continues to display more positive sentiment than the UK average, with most other regions seeing both prices and activity flat or falling.”

Sean Murphy, MD of personal banking at Ulster Bank, said: “The latest Ulster Bank PMI indicates that the local economy continues to perform relatively well, with business activity rising and companies continuing to recruit new staff. “So, it is not surprising that the local housing market remains relatively buoyant.”

Two-year mortgage rates lowest since records https://www.touchcall.co/07710906738/

Rates on average two-year fixed and variable mortgages have fallen to their lowest point since Moneyfacts records began nearly three decades ago.

Moneyfacts says this defies economic conditions encouraging the rates to rise.

The average two-year fixed rate is now 2.26 %, while the average tracker is now 1.82 %. Continue reading “Two-year mortgage rates lowest since records https://www.touchcall.co/07710906738/”

Stamp Duty Land Tax Confusing? This new tax is confusing a lot of people who are moving home or buying a second home. In fact, not every phone call to HMRC will give you the correct answer. The current figure is £125,000. Any property above that price will incur a tax. For example Property or lease premium or transfer value SDLT rate Up to £125,000 Zero The next £125,000 (the portion from £125,001 to £250,000) 2% The next £675,000 (the portion from £250,001 to £925,000) 5% The next £575,000 (the portion from £925,001 to £1.5 million) 10% The remaining amount (the portion above £1.5 million) 12% You can work out the cost with HMRC calculator http://bit.ly/2rRSNIa. If there’s a delay selling your main residence and it hasn’t been sold on the day you complete your new purchase: • you’ll have to pay higher rates because you own 2 properties • you may be able to get a refund if you sell your previous main home within 36 months. • this is a complicated tax and you should consider talking to an Independent Mortgage Broker or your accountant for advice.