Specialist Advice in Bristol

If you have had someone go out and perform a property survey, only to find out that the accepted offer you put down is actually way above the market value of the property, this is what’s known as a Property Down Valuation.

We tend to find, towards the end of the line, it is more than likely that your lender will pull out of your mortgage deal. If you are in the position to make up the difference between your offer and the true value of the property, the lender may still allow you to proceed.

If you are going through a divorce or separation, it can be a challenge making newer arrangements, especially if you both are tied into a mortgage together. You will need to sort this out as soon as possible, otherwise, it can lead to more complications further down the line.

Similar to the mortgage scenario just mentioned, if you are going through a divorce or separation, you may be looking to remove your own name or your ex-partner’s name from the mortgage. Depending on your financial stability, as well as your affordability, will affect the outcome as now you’ll only have one income instead of two.

If you’re married and want to know your options for taking out a mortgage on a property you and your partner are going to be living in, the lender would prefer both of you to be listed on the mortgage. However, there are still options out there if you would rather be the only one named on the mortgage.

The Shared Ownership Scheme can help mortgage applicants take out a mortgage as a percentage share of the property, rather than the full asking price. We tend to find, the share can vary between 25%-75%, but some lenders may be as little as 10%. The owner of the remaining share, likely a local authority, will be paid back as rent alongside your mortgage payments to the lender.

Professional mortgages can only be accessed by very specific professions. This is an incredibly niche area of the mortgage market which is why we would highly recommend booking a mortgage appointment with a specialist mortgage advice in Bristol team to learn more.

If you are looking to take out a mortgage on a further property, make sure to show the lender proof that you are financially stable of covering the costs of both mortgage payments. This is something we are able to help you with, to make sure you are fully prepared.

Holiday lets are similar property types to buy to let properties. The main difference being, you won’t have a permanent tenant, with it possibly generating no income during off-seasons. This is why lenders need to have absolute faith that you can afford your mortgage payments every month, regardless if you have any tenants or not.

New builds can tend to be more expensive to invest in than older properties. If you’re a first time buyer who is struggling to save up for your initial deposit, you may be eligible to use the government’s Help to Buy Equity Loan Scheme as a way to get onto the property ladder.

A ‘non-standard’ property is a property that is not put together using regular building materials like mortar or bricks. In order to take out a mortgage on this property type, you will need a very specialist mortgage product. We would also recommend you take out a full property survey.

HMO mortgages are basically large buy to lets with 4-6 tenants, similar to what you would see with student housing. We tend to find HMOs are often complex to deal with. This is why we always recommend seeking a specialist buy to let Mortgage Advice in Bristol if you are interested in taking out an HMO mortgage.

This is a very specialist mortgage type and requires speaking to a specialist to make sure everything is correct. Because you are releasing the equity that you have gradually built up in your home, turning it into cash by using a lifetime mortgage.

People use offset mortgages to help them access competitive interest rates and mortgage products.