Specialist Mortgages

First Time Buyers

Buying a house is the biggest commitment you will ever make and is the biggest debt you will ever take on in your life. It's important you get the correct advice to try and ease the anxiety associated with buying your first house. Our skilled brokers will guide you through the process and get the right mortgage for you.

The advantage of using a broker is that it saves you hours of trawling through the high street and potentially lengthy meetings at banks and building societies to possibly obtain a mortgage which may not be the best solution for you. So save yourself time and sanity and contact us for a no obligation chat about your prospects.

Help to Buy Scheme

The Help to Buy initiative was introduced by the UK government in April 2013 to allow first time buyers and home movers to purchase a new home with a 5% deposit. This was extended in April 2021 to just first time buyers and will run until March 2023. The Help to Buy Equity Loan scheme is available on new build properties from participating home builders and offers a very competitive interest rates. You need to provide a minimum of a 5% deposit is required in order to receive a 20% equity loan from the government, followed by a 75% mortgage from a qualified lender.

The benefit of this scheme is that you will retain 100% ownership of your home once you have repaid the equity loan. In England the equity loan from the government will be interest free for the first 5 years. After year 5, a 1.75% fee is payable which will rise alongside RPI inflation, plus 1% annually. In Scotland the equity loan remains interest free for the duration of the loan.

This scheme has helped thousands of people into their dream home and we have helped put them there!

Remortgages

There are many reasons why you may need to remortgage. Traditional reasons for remortgaging are:

Our knowledgeable advisors will discuss your options and guide you through the process

Buy to Let

The financial conduct authority does not regulate commercial buy to let mortgages

Buy to let mortgages are specifically for properties which are to be or being rented out. They usually require larger deposits, have higher interest rates and larger arrangement fees that your traditional residential mortgages. The mortgage amount you can borrow is usually determined by the amount of rent you receive for the property. But this isn't always the case as other lenders have specific niches like "top-slicing" to help you top up the amount of mortgage you can obtain.

A buy to let is a long term investment so you need to be completely informed so there are no unexpected surprises along the way. We have specialists buy to let brokers who deal with anything from first time landlords to portfolio landlords with hundreds of properties within their portfolio. So let our specialists brokers take the stress out of the buy to let propositions and secure the right mortgage for your investment needs.

Contractors

With recent IR35 changes, contractors are still looking at ways they can trade tax efficiently. The changes have meant you either have to be PAYE or through an Umbrella Company. The pay which is put through here may not be a true reflection of your true rate. Our advisors have extensive experience in placing contractors with lenders who will utilise your hourly/daily rate.

It may even be your first time contracting, our brokers can still help you in this situation and have helped many before who have just started contracting into their new homes.

Poor / Adverse Credit

The Finance Guru's have built their knowledge around adverse credit. Whether that is historic bankruptcy, IVA, or a minor default, we have experience in placing cases of this nature.

It's taken many years in building up our knowledge in this area by taking the time time to speak to lenders about their criteria and have often found they can help where other lenders may have declined the case

Auction Finance

Purchasing a property at auction and also by modern method of auction is becoming a more common way of purchasing property. With the traditional method of auction you have to pay a 10% deposit on the day of the auction with the balance being paid within 28 days.

The most common method of raising the finance for an auction is bridging finance as they are quick to turnaround. As opposed to a normal mortgage which will usually take more than 28 days to process.

Before the auction, speak to your broker so you have your funds ready to proceed and to minimise any delays and potential loss of deposits.

Insurance

At The Finance Guru's we are also insurance experts too. As we are arranging the biggest debt on in your life, it's only prudent you are adequately protected should anything happen to you. We typically can arrange the following policies:

Life and Critical Illness Cover - Usually matches the mortgage amount and term and will clear the mortgage in the event of a claim

Income Protection - this offers a monthly lump sum should you be unable to work and can continue to pay the lump sum until the age of 70 should you be unable to work.

Buildings and Contents Insurance - will cover your home in the event of flood, fire and subsidence

Commercial Finance

The financial conduct authority does not regulate some forms of commercial mortgages

Commercial landlords often use commercial finance to purchase anything from a new office to a golf course. It's also a way portfolio landlords will place the whole of their portfolio into one payment as opposed to lots of varying ones.

Whatever your circumstance, get in touch with our specialists to discuss your commercial options.