We have helped numerous clients during 2020 across all areas of the market allowing satisfied clients to receive the keys to their new home, remortgage to a better interest rate or perhaps develop a Buy to Let portfolio.
The opportunities available in the mortgage market are now very diverse…could we help you at some stage in 2020? Below are some examples of the types of scenarios that we have helped our clients with recent months – all of the following mortgage offers were successfully received from mainstream lenders.
First time buyers buying a new build property – our client came to us with poor previous credit which precluded him from applying to the High Street banks and as such, he believed that he would not be able to get a mortgage. We were able to secure him a mortgage at the first time of asking and also able to access the Government Help to Buy scheme so that he could buy a new build property that he had always wanted!
Divorce – our client was looking for a lender that would take into account multiple forms of income (employment, tax credits, maintenance etc). This was compliacted as most lenders would take some but not all of the income sources but we were able to find a lender that could accommodate all which increased the level of borrowing so that the client could stay in the area where they wanted to.
Non UK national working overseas – our client wanted to buy a property in the UK but did not have indefinite leave to remain in the UK and also worked overseas. A small number of lenders were able to help but without our assistance, this would have been difficult for the client to source on their own.
High earners with minimal deposit and high PCP debt – our clients were looking to upsize significantly – but a combination of a 10% deposit and very high outstanding car finance led their bank to decline their application. When they approached us we researched the entire market to ensure a successful application to a lender which takes a more flexible view on existing debts and they have now moved into their new home.
Family purchase – our clients rent their current home from a family member who offered them the opportunity to buy the house. Whilst the mortgage was in theory affordable they didn’t have a deposit saved. The family member agreed to gift some equity in the house and we sucessfully secured a lender which was happy to view the equity as a deposit.
Home improvements – our clients were looking to re-mortgage away from a very high interest rate and also release some equity to build an extension next year. We arranged an offset mortgage to allow the extension funds to be kept in reserve for future use, whilst also lowering the interest rate signficantly.
This is a small example of the enquiries that we have received with positive outcomes for our clients, and also demonstrates that we can help most people. We offer local, face to face, independent mortgage advice and can advise on the best solutions for you.
If you would like to see what our clients have to say about us we have one hundred and seventy Google 5* reviews on-line and on our website from satisfied clients (www.innovateml.co.uk)!
Paul Hardingham and Tony Ibson are Mortgage and Protection Advisers at Innovate Mortgages and Loans. Both have over 20 years of experience advising individuals and businesses across the North East of England. They can be contacted for bespoke advice at paul@innovateml.co.uk or tony@innovateml.co.uk or call 0191 284 3723.
