New 5K Deposit Mortgages

?? Buying a Home with Just ￡5,000

Last week's headlines were dominated by the launch of a new scheme aimed at First Time Buyers. Whereas the minimum deposit for most Lenders is 5% of the purchase price, with this one it's only ￡5,000 irrespective of the purchase price.

We welcome any innovation that helps people onto the property ladder, but there are a few things on this one to be aware of:

• The credit score is harder to pass than usual.
• Maximum purchase price ￡500k.
• You can't borrow more on this mortgage than you would be able to do on a standard one.
• Flats/apartments/new build properties are excluded.
• The deposit can be from savings or a gift.

If you would like any further information, please get in touch and we can try for an Agreement in Principle for you.

?? Over 60's Mortgage Options

It's just a mortgage: there is a lot of confusing and sometimes contradictory information in the media around mortgages for the over 60s but, whether its a Lifetime Mortgage (equity release), Retirement Interest Only, Capital and Interest or any other variation, at the end of the day, it is still just a mortgage.

Which one is right for you? This depends on your income, the amount of equity you have in your property (or savings if you are buying for the first time) your feelings about inheritance, security and the ability to take the funds you borrow as a single lump sum or in stages over time.

Have a chat with us and we will try to demystify it all and go through all the options available to you.

?? New Referral Partner for Financial Advice

We are delighted to be able to offer Pension and Investment Advice via a new partnership with UK Financial Planning Ltd. We are proud of the fact we build long-term relationships with our clients and we often get asked about whether we can help in other areas, hence the new link-up.

Quite often people will have various pension pots scattered around the place without any clear idea about how much income they can expect in retirement or which funds their money is invested in. UK Financial Planning Ltd?can help by gathering all the relevant information from the various providers and offering advice on how to plan your financial future. They can also help those people interested in investing some of their savings and owners of small businesses looking to reduce their tax liabilities.

If you would like a no-obligation initial chat with a financial advisor, simply click on the link below to arrange a convenient time and they will be happy to help.