Manchester Mortgages received a mortgage enquiry in April 2018 from a first time buyer living in Bury. They have been renting for the past 4 years and felt that it was a good time to be looking to get on the property ladder. They had…
Category: Mortgages
How to get a mortgage on a 'difficult' property
Certain types of residential property are seen by many mortgage lenders as ‘difficult’ and many will not lend money against them. If your dream home happens to be classed as ‘difficult’ you may struggle to get a mortgage. That’s where we come in… Imagine the…
Interest Rates expected to rise as early as May
It is expected when the Bank of England’s policy committee meet in May that they will agree to increase interest rates. Since the beginning of March a number of Lenders including Halifax, Nationwide Building Society, Santander and NatWest have increased their rates on 2 Year,…
Mortgage Application Checklist
When applying for a mortgage it is vitally important that you have all the correct information available to present to the Lender and also be able to provide evidence of the information supplied. What information does a lender require ? All lenders have different criteria…
Purchase of a property with a poor credit history from a deceased family member
Manchester Mortgages received this message via our contact form on our Web page – “Myself and my boyfriend are looking to get a joint mortgage together. We have tried numerous banks/building society’s but we keep getting knocked back due to my bad credit history. My…
Re-mortgage with debt consolidation saves client £ 1,150 per month
CLIENT’S SITUATION Manchester Mortgages received a phone from a potential client asking us to review their mortgage and existing credit commitments. The clients were in their mid 40’s with four children, clients were both employed with a joint income approaching £60,000 per year. Their property…
Mortgage interest rates are still competitive
Despite the Bank of England increasing the base rate by 0.25% in November 2017 to 0.50% lenders are still offering highly competitive rates. January is the time that Mortgage customers get their credit card statements and the time they start to review their monthly expenditure.…
Mortgage payments increasing from December 2017
From 1st December 2017, mortgage payments for homeowners on Standard Variable Rates with their lenders will increase. When the Bank of England announced in November 2017 an increase in its base rate for the first time in 10 years to 0.50% ( an increase of…
Abolishment of Stamp Duty for most First Time Buyers
Today the Chancellor of the Exchequer announced that from the 22nd November 2017, Stamp Duty would be abolished for first time buyers on properties up to £300,000 and also on the first £300,000 on properties up to £500,000 in much more expensive areas. So what…
The Bank of England base rate rise... what does that mean to borrowers ??
For the first time in a more than a decade the Bank of England decided to increase the base rate by 0.25% up to 0.50% (read the Bank’s article here). This means that an estimated 40% of mortgage borrowers have seen their first rate rise.…