Got a Halifax or Bank of Scotland mortgage?
Halifax and Bank of Scotland have some excellent remortgage offers for their existing clients. Most of their deals are cheaper than their current standard variable rate (SVR) –so its probably cheaper to change to a new product rather than stay on their SVR .
Some advantages of staying with Halifax/B.O.S :
· No further income checks.
· No revaluation of your property.
· New mortgage products can be reserved up to 3 months in advance.
(Additional borrowing will need full income and valuation checks).
In many cases staying with Halifax or BOS is the best option, but:
· I will always check the whole market to ensure best value.
· I will always deliver a ‘whole of market’ report so that you can see what other lenders are offering.
(Lenders criteria can be changed at any time without notice)
Useful links House prices
Key Facts about our service
Monday, 27 July 2009
The Key Facts about our service
The Financial Services Authority (FSA) is the independent watchdog that regulates financial services. It requires us to give you this information. Use this information to help you decide if our services are right for you.
Whose Mortgages do we offer?
We offer Mortgages from whole market.
Which Services will we provide you with?
We will advise and make a recommendation for you after we have assessed your needs
What you will have to pay us for these services?
Our fees reflect the amount of work required on different mortgages. Remortgages, purchases and Buy To Lets, £295. First Time Buyers, £150. Right To Buy and Shared Ownership, £500. Adverse cases, £650. These fees are payable on completion. Existing Clients have a discount of £100. We will tell you how we get paid, and the amount, before we carry out any business for you.
Who Regulates Us?
The Really Useful Mortgage People Ltd, Silver Birches, Greyfield Road, High Littleton, Bristol. BS39 6YF is authorised and regulated by the Financial Services Authority. Our FSA number is 438 462
Our Permitted business is arranging and advising on regulated mortgages contracts and general insurances You can check this on the FSA Register by visiting the FSA website www.fsa.gov.uk/register/ or by contacting the FSA on 0845 606 1234
What to do if you have a complaint
If you wish to register a complaint, please contact us....
Write to: The Really Useful Mortgage People Ltd Silver Birches, Greyfield Road, High Littleton,Bristol. BS39 6YF.
Telephone 0845 170 20 20
Are we covered by the Financial Services Compensation Scheme (FSCS)?
We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim Mortgage advising and arranging is covered for 100% of the first ₤ 30.000 and 90% of the next ₤ 20.000 so the maximum compensation is ₤ 48.000.Further information about compensation scheme arrangement is available from the FSCS
The Really Useful Mortgage People Ltd Authorised and regulated by the Financial Services Authority Reg No 438462
Your home is at risk if you don't keep up the payments of a mortgage or any other loan secured against it.
Whose Mortgages do we offer?
We offer Mortgages from whole market.
Which Services will we provide you with?
We will advise and make a recommendation for you after we have assessed your needs
What you will have to pay us for these services?
Our fees reflect the amount of work required on different mortgages. Remortgages, purchases and Buy To Lets, £295. First Time Buyers, £150. Right To Buy and Shared Ownership, £500. Adverse cases, £650. These fees are payable on completion. Existing Clients have a discount of £100. We will tell you how we get paid, and the amount, before we carry out any business for you.
Who Regulates Us?
The Really Useful Mortgage People Ltd, Silver Birches, Greyfield Road, High Littleton, Bristol. BS39 6YF is authorised and regulated by the Financial Services Authority. Our FSA number is 438 462
Our Permitted business is arranging and advising on regulated mortgages contracts and general insurances You can check this on the FSA Register by visiting the FSA website www.fsa.gov.uk/register/ or by contacting the FSA on 0845 606 1234
What to do if you have a complaint
If you wish to register a complaint, please contact us....
Write to: The Really Useful Mortgage People Ltd Silver Birches, Greyfield Road, High Littleton,Bristol. BS39 6YF.
Telephone 0845 170 20 20
Are we covered by the Financial Services Compensation Scheme (FSCS)?
We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim Mortgage advising and arranging is covered for 100% of the first ₤ 30.000 and 90% of the next ₤ 20.000 so the maximum compensation is ₤ 48.000.Further information about compensation scheme arrangement is available from the FSCS
The Really Useful Mortgage People Ltd Authorised and regulated by the Financial Services Authority Reg No 438462
Your home is at risk if you don't keep up the payments of a mortgage or any other loan secured against it.
Friday, 17 July 2009
Getting Benefits
Not everyone is claiming all the benefits they are entitled to. Working tax credits, child tax credits, pension credits, housing benfits - these are some of the key benefits you may be able to claim.
Our view - If you would like an assessment of what benefits you may be able to claim, we can help you out. With access to online calculators, we can give you an indication of any benefits you may be entitled to. We offer this as a free service to our clients.
email or call 0845 170 20 20
Our view - If you would like an assessment of what benefits you may be able to claim, we can help you out. With access to online calculators, we can give you an indication of any benefits you may be entitled to. We offer this as a free service to our clients.
email or call 0845 170 20 20
BTL landlords hit
BBC research suggests that Buy-to-let landlords are being repossessed three times faster than other homeowners.
Landlords are finding more tenants are falling behind with rents.
Our view – seek assistance as soon as cash flow becomes an issue. Consider taking out insurance to guarantee rent.
Landlords are finding more tenants are falling behind with rents.
Our view – seek assistance as soon as cash flow becomes an issue. Consider taking out insurance to guarantee rent.
House prices rise in May
The Halifax have reported that in May house prices rose by 2.6% . They also say that overall activity in the market remains low in the market.
Our view – First time buyers are in a good position to get a bargain.
People who need to sell may find that there are keen buyers, but they will be looking for a good deal.
Our view – First time buyers are in a good position to get a bargain.
People who need to sell may find that there are keen buyers, but they will be looking for a good deal.
Is Payment Protection Insurance costing you £££££’s?
Credit cards and loans are often sold with Payment Protection Insurance (PPI).
PPI is usually very expensive
Many clients don’t realise they have been sold PPI with their loan.
We can check out your credit cards and loans for PPI and advise about suitability.
The Facts
CREDIT CARDS
“I didn’t know I was paying PPI”
Is there a PPI payment added to your card every month? Check your statement. PPI is one of the most expensive forms of insurance.
“I thought PPI was compulsory”
It’s a good idea to insure you risks, but credit card PPI is incredibly expensive. It is often sold without a full explanation. Clients have told me they thought they wouldn’t get a Credit Card unless they took out PPI. This is not true.
“I’m self-employed and was sold PPI”
In most cases, PPI is unlikely to pay out if you are self employed. You may be entitled to a refund.
Credit card concerns email or phone 0845 170 20 20
LOANS
“ I didn’t want PPI!”
One of my clients had 2 bank loans. He didn’t know he was paying PPI. I helped him get a rebate of nearly £3,000. He was convinced he had declined PPI in the first place!
“why was £2,000 added to my loan?”
A client recently asked me this. Lenders can add up all the PPI premiums you will pay over the term of A loan. They can add it as one lump sum to the loan. This means they get ALL the money in advance. Because its added to the loan you pay interest as well!! Its called Bulk Premium Payments, and its very expensive.
Loan concerns email or phone 0845 170 20 20
PPI is usually very expensive
Many clients don’t realise they have been sold PPI with their loan.
We can check out your credit cards and loans for PPI and advise about suitability.
The Facts
CREDIT CARDS
“I didn’t know I was paying PPI”
Is there a PPI payment added to your card every month? Check your statement. PPI is one of the most expensive forms of insurance.
“I thought PPI was compulsory”
It’s a good idea to insure you risks, but credit card PPI is incredibly expensive. It is often sold without a full explanation. Clients have told me they thought they wouldn’t get a Credit Card unless they took out PPI. This is not true.
“I’m self-employed and was sold PPI”
In most cases, PPI is unlikely to pay out if you are self employed. You may be entitled to a refund.
Credit card concerns email or phone 0845 170 20 20
LOANS
“ I didn’t want PPI!”
One of my clients had 2 bank loans. He didn’t know he was paying PPI. I helped him get a rebate of nearly £3,000. He was convinced he had declined PPI in the first place!
“why was £2,000 added to my loan?”
A client recently asked me this. Lenders can add up all the PPI premiums you will pay over the term of A loan. They can add it as one lump sum to the loan. This means they get ALL the money in advance. Because its added to the loan you pay interest as well!! Its called Bulk Premium Payments, and its very expensive.
Loan concerns email or phone 0845 170 20 20
40% less on insurances?
Most people don’t review their insurances.
Many people are paying up to 40% too much.
We can get you a free check and possibly save you ££'s!
The Facts
££'s saved on Buildings and contents
Insurers may give 40% off in year 1, the cost then goes up.
££'s saved on Life Insurance
People are living longer so premiums have come down.
££'s saved for Ex Smokers
Given up smoking in the last year? You may get cheaper insurance.
Free savings on insurance check. or call 0845 170 20 20
Friday, 10 July 2009
Financial stress and employment
Could financial solutions for employees improve your Company bottom line?
Research on financial stress among employees has reported that money worries are causing 1 in 5 to lose sleep, and suggests that absence, loss of productivity, poor performance and safety concerns are all possible results.
We can provide financial surgeries for employees in the workplace to provide information, education and financial solutions. These surgeries are free and are recommended by the Institute of Employment Services in their recent report.
The Really Useful Mortgage People Ltd are authorised and regulated by the Financial Services Authority. We are licensed by the Office of Fair Trading to carry out debt adjustment and counselling.
To discuss our programme, please call David 0845 170 20 20 Or email david@usefulmortgages.co.uk
More…
The Institute of Employment Services (IES) have found huge levels of financial stress reported by employees, They reported…
At least a quarter of employees are worried about debt, with one in five reporting they are being kept awake at night by financial worries and over ten per cent saying their health was suffering as a result.
In Autralia they are taking financial stress seriously. People experiencing financial stress will receive free information through the Australian Government’s Coping with Financial Stress seminars held throughout June 2009. The Government has provided $60,000 to run 20 two-hour seminars focusing on informing people under financial stress about their options and rights, as well as providing information on finding financial help. There is nothing like this in the UK.
Employees don’t just need some financial adviser to come in and tell them what the best mortgage is, or where to invest their £100 a month savings plan. People need to have a source of comprehensive financial information backed up by access to expert resources and where necessary, useful financial education and debt counseling.
IES report author, Annette Cox, commented…
Employees who report better financial well-being are more likely to report increased productivity. Now more than ever, people are going to need help and support to better manage their finances.
Research on financial stress among employees has reported that money worries are causing 1 in 5 to lose sleep, and suggests that absence, loss of productivity, poor performance and safety concerns are all possible results.
We can provide financial surgeries for employees in the workplace to provide information, education and financial solutions. These surgeries are free and are recommended by the Institute of Employment Services in their recent report.
The Really Useful Mortgage People Ltd are authorised and regulated by the Financial Services Authority. We are licensed by the Office of Fair Trading to carry out debt adjustment and counselling.
To discuss our programme, please call David 0845 170 20 20 Or email david@usefulmortgages.co.uk
More…
The Institute of Employment Services (IES) have found huge levels of financial stress reported by employees, They reported…
At least a quarter of employees are worried about debt, with one in five reporting they are being kept awake at night by financial worries and over ten per cent saying their health was suffering as a result.
In Autralia they are taking financial stress seriously. People experiencing financial stress will receive free information through the Australian Government’s Coping with Financial Stress seminars held throughout June 2009. The Government has provided $60,000 to run 20 two-hour seminars focusing on informing people under financial stress about their options and rights, as well as providing information on finding financial help. There is nothing like this in the UK.
Employees don’t just need some financial adviser to come in and tell them what the best mortgage is, or where to invest their £100 a month savings plan. People need to have a source of comprehensive financial information backed up by access to expert resources and where necessary, useful financial education and debt counseling.
IES report author, Annette Cox, commented…
Employees who report better financial well-being are more likely to report increased productivity. Now more than ever, people are going to need help and support to better manage their finances.
Saturday, 4 July 2009
Really Useful info for the 4000,000 smokers who have quit in the last 2 years.
The smoking ban in public places was introduced about 2 years ago, and since then, about 400,000 smokers have quit.
Many ex smokers have life or health insurance products. As a smoker their monthly premium will have been increased by as much as 50%.
Most insurers will remove the additional smoker’s premium, or drastically reduce it, if someone has managed to kick the habit for a year.
If you have quit smoking for a year, let us check out your costs on life and medical insurance – we may be able to save you money.
For some Really Useful help:
Telephone 07855 799 807
Or email david@usefulmortgages.co.uk
http://www.usefulmortgages.co.uk/
Many ex smokers have life or health insurance products. As a smoker their monthly premium will have been increased by as much as 50%.
Most insurers will remove the additional smoker’s premium, or drastically reduce it, if someone has managed to kick the habit for a year.
If you have quit smoking for a year, let us check out your costs on life and medical insurance – we may be able to save you money.
For some Really Useful help:
Telephone 07855 799 807
Or email david@usefulmortgages.co.uk
http://www.usefulmortgages.co.uk/
5 Really Useful ways of raising money now
Lots of people have been asking me about raising money – and there are 5 key ways:
1. Unsecured loans
For smaller loans, up to £25,000, an unsecured loan may be the best route. The problem for some people is that many of the unsecured loan companies will only lend over a short period, usually 7 to10 years. This means the monthly repayments can be quite high. Rates are generally about 8%, and you can easily go online to check out companies like Alliance & Leicester, or Tesco Loans. If you are refused lending, we may still be able to get an unsecured loan for you using a specialist lender. The rates they charge will depend very much on your credit score and your level of income.
2. Mortgage – further advance.
Many people may be able to get a further advance on their mortgage. The disadvantage of this is that you are increasing the amount borrowed against your home, and this could put your home at more risk. The advantage is that the interest rate is usually very low, and you can select the number of years over which you pay off the loan. We will carry out a financial risk analysis for you, and present you with a report and fill out all the forms for an application.
3. Remortgage
Sometimes it makes more sense to release money by doing a full remortgage with a new lender. You may have no penalties if you leave your current lender, or the rate offered by a different lender may cheaper than your current product. We can sit down with you and work out the cost benefits of the different options.
4. Secured loan or second charge
This is a mortgage on your property, but through a different lender to your main mortgage. Secured loans are usually more expensive than a main mortgage but they are often cheaper than unsecured loans. It is important to fully discuss the implications of a secured loan – we can do this for you, and give you a financial risk analysis report before you make any commitment.
5. Bridging finance.
In certain circumstances you may want a loan for a short period of time,say 6 months. You want to pay the costs when the loan completes rather than month by month as with most loans.Perhaps you need to finish a renovation before selling a property, or you want to purchase a Buy To Let at auction. The auction house will want prompt payment but the mortgage lender can easily take 3 months to release mortgage funds. Bridging finance can release cash in days, however it is expensive, and must be taken with a great degree of caution. We can provide all the advice and information you need to make sure you reach an informed decision.
For some Really Useful help:
Telephone 07855 799 807
Or email david@usefulmortgages.co.uk
http://www.usefulmortgages.co.uk/
1. Unsecured loans
For smaller loans, up to £25,000, an unsecured loan may be the best route. The problem for some people is that many of the unsecured loan companies will only lend over a short period, usually 7 to10 years. This means the monthly repayments can be quite high. Rates are generally about 8%, and you can easily go online to check out companies like Alliance & Leicester, or Tesco Loans. If you are refused lending, we may still be able to get an unsecured loan for you using a specialist lender. The rates they charge will depend very much on your credit score and your level of income.
2. Mortgage – further advance.
Many people may be able to get a further advance on their mortgage. The disadvantage of this is that you are increasing the amount borrowed against your home, and this could put your home at more risk. The advantage is that the interest rate is usually very low, and you can select the number of years over which you pay off the loan. We will carry out a financial risk analysis for you, and present you with a report and fill out all the forms for an application.
3. Remortgage
Sometimes it makes more sense to release money by doing a full remortgage with a new lender. You may have no penalties if you leave your current lender, or the rate offered by a different lender may cheaper than your current product. We can sit down with you and work out the cost benefits of the different options.
4. Secured loan or second charge
This is a mortgage on your property, but through a different lender to your main mortgage. Secured loans are usually more expensive than a main mortgage but they are often cheaper than unsecured loans. It is important to fully discuss the implications of a secured loan – we can do this for you, and give you a financial risk analysis report before you make any commitment.
5. Bridging finance.
In certain circumstances you may want a loan for a short period of time,say 6 months. You want to pay the costs when the loan completes rather than month by month as with most loans.Perhaps you need to finish a renovation before selling a property, or you want to purchase a Buy To Let at auction. The auction house will want prompt payment but the mortgage lender can easily take 3 months to release mortgage funds. Bridging finance can release cash in days, however it is expensive, and must be taken with a great degree of caution. We can provide all the advice and information you need to make sure you reach an informed decision.
For some Really Useful help:
Telephone 07855 799 807
Or email david@usefulmortgages.co.uk
http://www.usefulmortgages.co.uk/
Really Useful help for 1st time buyers
Lots of first time buyers are taking advantage of low property prices and low interest rates to get onto the property ladder. Here are just a few facts that may help:
10% deposit mortgages are here again.
£250 cash back towards solicitors’ costs - an offer from some lenders.
No arrangement fee - typically saving £995. Some lenders have waived their arrangement fee for first time buyers, .
Parental income - Some lenders allow a family members income (usually the parents) to be included.
703 products available for 1st time buyer on 05/07/2009. We can help you choose a product that meets your budget and your needs.
Quick tip 1 - When going round a property you like NEVER SHOW ENTHUSIASM, it makes it harder to put in an offer.
Quick tip 2 - You are more likely to get an offer accepted if you have a lenders letter showing that they agree in principle to the lending. We can sort this out for you at no cost.
Quick tip 3 - Most first time buyers are worried about budgeting. We can work this out for you, and present a financial risk analysis report so that you are clear about any financial risks you are taking.
Free booklet for first time buyers. Just email or call.
For some Really Useful help:
Telephone 07855 799 807
Or email david@usefulmortgages.co.uk
http://www.usefulmortgages.co.uk/
10% deposit mortgages are here again.
£250 cash back towards solicitors’ costs - an offer from some lenders.
No arrangement fee - typically saving £995. Some lenders have waived their arrangement fee for first time buyers, .
Parental income - Some lenders allow a family members income (usually the parents) to be included.
703 products available for 1st time buyer on 05/07/2009. We can help you choose a product that meets your budget and your needs.
Quick tip 1 - When going round a property you like NEVER SHOW ENTHUSIASM, it makes it harder to put in an offer.
Quick tip 2 - You are more likely to get an offer accepted if you have a lenders letter showing that they agree in principle to the lending. We can sort this out for you at no cost.
Quick tip 3 - Most first time buyers are worried about budgeting. We can work this out for you, and present a financial risk analysis report so that you are clear about any financial risks you are taking.
Free booklet for first time buyers. Just email or call.
For some Really Useful help:
Telephone 07855 799 807
Or email david@usefulmortgages.co.uk
http://www.usefulmortgages.co.uk/
Would it be Really Useful to clear your credit card?
Before April 2007, many credit card companies issused agreements that have now found to be uninforceable . For example some didn't give an APR, while others didn't give an example on the cost of paying back the loan. These things are a legal requirement. If they are missing, the contract may be legally unenforceable.
Most people have lost their agreements, so we take your credit card details and pass them on to our solicitors. The solicitors request a copy of the agreement from the lender so that the details can be checked.
If the credit card agreement is flawed the solicitors will take it to court.
Credit card claims of £5,000 or under are dealt with by the small claims court. Over £5,000 they are taken to a higher court.
What are the costs?
The administration costs are £85 per card. If people have several cards, they tend to get 1 card processed each month or 2. (Some companies are charging as much as £495 for this service)
Are there any solicitors costs?
‘No win no fee’- The solicitor makes no charge if the case is not won.
In a small claims court, solicitors cost are not usually awarded, and the solicitor will charge 25% of the balance cleared.
For amounts over £5,000, the case is heard in a higher court. Here costs are usually awarded, usually sufficient to cover the solicitors’ fee.
How long will the process take?
The courts are dealing with so many cases at the moment, that a reasonable estimate from claim to settlement is 2 years. We are hoping that this will speed up.
Will it affect your credit rating?
No – as long as you keep up payments until the card is declared unenforcable by a court. You certainly won’t be offered another credit card from the same company, but there will be no effect on your credit score.
For some Really Useful help:
Telephone 07855 799 807
Or email david@usefulmortgages.co.uk
http://www.usefulmortgages.co.uk/
Most people have lost their agreements, so we take your credit card details and pass them on to our solicitors. The solicitors request a copy of the agreement from the lender so that the details can be checked.
If the credit card agreement is flawed the solicitors will take it to court.
Credit card claims of £5,000 or under are dealt with by the small claims court. Over £5,000 they are taken to a higher court.
What are the costs?
The administration costs are £85 per card. If people have several cards, they tend to get 1 card processed each month or 2. (Some companies are charging as much as £495 for this service)
Are there any solicitors costs?
‘No win no fee’- The solicitor makes no charge if the case is not won.
In a small claims court, solicitors cost are not usually awarded, and the solicitor will charge 25% of the balance cleared.
For amounts over £5,000, the case is heard in a higher court. Here costs are usually awarded, usually sufficient to cover the solicitors’ fee.
How long will the process take?
The courts are dealing with so many cases at the moment, that a reasonable estimate from claim to settlement is 2 years. We are hoping that this will speed up.
Will it affect your credit rating?
No – as long as you keep up payments until the card is declared unenforcable by a court. You certainly won’t be offered another credit card from the same company, but there will be no effect on your credit score.
For some Really Useful help:
Telephone 07855 799 807
Or email david@usefulmortgages.co.uk
http://www.usefulmortgages.co.uk/
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