Welcome back
...to the next edition of Penn Financial Times! We are thrilled to continue bringing you valuable insights and updates on mortgages, protections, and general insurance.
This is our way of helping you stay updated with the latest news, tips, and exclusive offers related to mortgages, protections, and general insurance. Our goal is to help you make informed decisions when it comes to your financial well-being.
Let's dive in!
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News:
This new product covers unemployment as well as accident and sickness. It will pay up to a maximum benefit of ￡2,000.00 per month and it will pay out for a maximum period of one year. Click HERE to learn more about the benefits, and CONTACT us to see if this could be the answer to your needs.
Own New is a scheme designed to make it easier for somebody to purchase a new build home by way of a mortgage. The scheme provides buyers with reduced interest rates for the initial term of their mortgage, typically this means the first 2 or 5 years. These rates are lower than the market average, made possible by developers contributing 3% or 5% of the purchase price towards the home. Developers offer this incentive to entice buyers, which may include covering stamp duty or upgrading fixtures and fittings. Consequently, buyers enjoy discounted mortgage interest rates during the specified initial period.
Please contact us to learn more or if you would like to consider this for your next mortgage.
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Top Tip: Start Saving Today
Saving for a mortgage can feel like a daunting task, but with the right approach, it is entirely achievable. From setting realistic savings goals to cutting unnecessary expenses, there are ways to accelerate your journey towards homeownership. Start building your financial foundation, and start TODAY.
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Customer Spotlight: Congratulations, Fred!
Not all completions are the same! We couldn’t be happier for our client, Fred, for his remortgage being finally completed. Congratulations!
Fred had a complicated case due to a variety of factors including the fact that he was self-employed and his income varied substantially from year to year.? Another factor was that Fred had a large deposit and we had to make sure this had been accumulated over time to satisfy the lender, as lenders do get suspicious of large deposits and the source of that wealth needs to always be carefully explained. So, before progressing with the application, we made sure that Fred produced evidence that he had a good income and very little outgoings so we could explain his source of funds and at the same time prove his ability to afford the mortgage.
To make matters worse, Fred wanted the offer very quickly as it seemed to him (and us) that interest rates were constantly increasing. We carefully checked ALL the small print lending criteria of the particular lender and prepared information for the lender that we knew they would ask about the source of funds and Fred's income before they even asked.
As predicted, the lender did ask for that additional information which we immediately provided and Fred got an offer the first time around in a matter of several days.??
Expert Advice Corner | Send Us Your Questions
We will invite a financial expert to share their insights and answer readers’ questions related to mortgages, protections, and general insurance. Readers can submit their queries via email: [email protected]
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Thank you for joining us for another edition of The Penn Financial Times! We hope you found this newsletter helpful and informative. We value your feedback, so please share your thoughts with us, and let us know how we can improve your reading experience.
Until next month, best wishes on your journey towards financial security and homeownership!