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Who are the best mortgage brokers to advise buying in Exter

Hi I am local to the area and I am sure I would be able to assist you with your potential purchase. You can reach me for an initial discussion, 01404 46943 office 07967 350370 Mobile or shane@carterdawes.com. Many thanks


I'd like to rent out my current property and buy a new larger property for my family to move into.

Based on the brief information you have provided I can see that this is something we should be able to help you with. The best thing to do is to arrange a convenient time to discuss this in more detail and we could provide you with a free initial consultation and give you some options. Please find my contact details below. Kind regards Andrew Nicolaides Elite Mortgage Finance 352 Green Lanes Palmers Green London N13 5TJ Tel - 020 8882 6802 Email - info@elitemortgagefinance.co.uk


What differentiate the London Central market from the UK residential property market?

Hi Donald, There are some correlations in both the markets. Although the UK residential market is internationally driven by world macro economic and political factors and the London property market plays a big role in UK economics. The residential property scenario in U.K is the seller's forte. Due to a lack of available property on the market and an unstable share market there's been a steady increase in the price of the residential investment property for sale. The future for the London property- http://www.plazaestates.co.uk/properties-to-rent/information-for-tenants market does look bright. Experienced property investors will have their ears to the ground waiting for true signs that the London property market is heating up.


hi how do i go about insuring my parents and myself and partner n kids

Speak to an independent financial advisor who will find the best product for you from the whole of market.


I am a student doing part time work cash in hand. I know I should pay tax on it really but how will anyone know if I don't declare it?

Some years ago a motorbike I owned was stolen and it ended up in the hands of a scrap metal type company who sent me a letter saying that they had found it and wanted to charge me rent for keeping on their property. This is a well know scam a long with various vehicle scrapping scams which the police don't seem to interested in dealing with. Theft is theft however it is disguised. With your situation it depends how much you earn I think. I suppose you should be administering your 'business' and dealing with the tax aspect but whether tax is due or not depends on your income. When I spoke to the police about the scam, they said the only thing you can do is contact the tax department. Companies like that are likely evading taxes also. The point is that unless someone grasses on you, no one will worry about it.


Are ISA's worth bothering with anymore as the rates are so low?

ISA's are possibly the best of a bad selection, free of tax, accessible, nil to low growth with Cash ISA's (discounting introductory offers), better choice exists with Stocks & Shares ISA's with the economies of the world stabilising.


Can anyone start a credit union? We would like to have one in our village.

I would have advise you contact Mr Benson Leo the CEO of Queen Loan company for this. It is a better ideal. You can contact them at: Queenloancompany@aol.com


I live near Gloucester. Name of a good financial advisor nearby please?

Steve Taylor smtaylor.harrierfinancial@btconnect.com


We have just had our first baby but neither of us has any life insurance. I am working so can afford the premiums but what sort to go for?

Hi there, Without knowing your exact circumstances it is difficult to give any definitive advice, but, to give some guidance, here is a summary of some the different types of cover. Term assurance - this is the most common type of life cover, and provides a lum sum benefit (sum assured) on the death of the life assured during the term of the policy. The sum assured remains level throughout the term. Decreasing term assurance - as above, but the sum assured decreases over the term, usually to protect a mortgage. Family income benefit - this is the cheapest option, and provides an income for the term of policy on the death of the life assured. This type of policy is particularly useful to provide protection for a new family, as the term can be set to coincide with when the child reaches 21 for instance. It can also be used "in trust" to provide an income to a guardian should both parents die. Critical illness cover - this an additional benefit, that can be added to the above policies. It pays out the sum assured if the life assured contracts one of the specified "critical illnesses", such as cancer, heart attach, stroke, MS, total and permanent disability etc. Please feel free to call us to discuss in more detail, or visit our website for a free quote - http://pks.org.uk Kind regards Paul Skinner PKS - Mortgage & Insurance Experts T: 0845 226 5009 E: paul.skinner@pks.org.uk


When is a good time to buy a property in London?

Hi Russell, Definitely prices will go up rapidly in the occurrence of Olympic event. With the London property market on the road to recovery, more property investors are looking to invest in it. In addition to the progress being made on the sports venues and games facilities, developers are building a number of new houses and apartments. Meanwhile, various transport infrastructural improvements are making good progress.


What does mortgage in principle mean?

It means the lender has agreed to lend you as an individual, but not yet agreed to let you use a particular property as security.


How do I choose the best mortgage for me as there are so many different types?

You should speak to an independent mortgage broker - that is what they are there for! Paul Skinner PKS - Mortgage & Insurance Experts paul.skinner@pks.org.uk


hi i geet ofer property right to buy can i add my partner

hi i gett oferd property right to buy can i add my partner


Moving to London soon - which area is best ?

Hi David, There are prime locations such as Mayfair, Kensington, Marylebone and Marble Arch where you would get good transportation facilities, required amenities and these areas are highly secure too. These areas have seen something of revival in the past few years, with many new constructions of flats and apartments. You should conduct an accommodation search through real estate agents to facilitate your purchase. For example Plaza Estates can provide you complete information about rentals as well as apartments for sale in every area of the city.


What percentage of the asking price of a flat in London do you need as a deposit these days?

Hi David, According to figures of the real estate firms around 54 percent of people say that they would need to borrow money in order to put down any sort of deposit to buy flats in London. With a typical entry level property costing around £250,000, this would mean having to find £32,500 - in addition to stamp duty, legal fees and removal costs. For the average London property - now more than £350,000 - the deposit would be £45,500, plus £10,500 in stamp duty.


How much London property search agents charge?

Hello Mancuso, London property agent charges often lack transparency and there is great variation. Their charges mainly depend on the area you choose. Also their reputation matters a lot, with around 20% of agents refusing to disclose their fees over the phone or via email. Only a few select agencies disclose their charges on their website. The survey also found that estate agent fees here are the highest in the country. Sellers are paying on average almost £7,000 in fees including VAT based on the average property price of £342,749 as well.


Need a real estate company to help me sell my house!!

Hi, Recently, when I was searching for property in London, I came across a website Plazaestates.co.uk where I found a great many properties for sale and rental purposes as well. They provide multiple listing services to their clients that might help in selling your home, if you live there.


Where can I get free and impartial advice about dealing with my debt?

Self-determination is the only way to fight out debt, once you’ve decided and chosen your track it would take some time but you’ll be debt free. Planning your finances smartly and having a good budget will let you help in adding more towards your savings or finding the best quick loan that adds value to your life.


I need a loan to pay off my credit card debt. My bank won't help. Where can I go for a loan for this purpose?

Hi, I may be able to help but only if you are a homeowner, in employment and have a good credit record.


Can you suggest an insurance broker where I can go to get cheap insurance for my son's motorcycle?

You should try Matt Lamey at Aston Scotts - 0142081493. Paul Skinner PKS - Mortgage & Insurance Experts 0845 226 5009 http://pks.org.uk


I am 58 years old. I have always lived in rented accommodation but now want to buy. Will a mortgage company lend to me?

Yes, assuming you have sufficient income and deposit, and have not had any credit problems in the past. Obviously the term of the mortgage might be shorter than usual due to your age, which might make the cost prohibitive. Paul Skinner T: 0845 226 5009 Http://pks.org.uk


I am a diabetic. Will I get health insurance for other conditions or is it a waste of time asking?

There are a number of insurers that can offer cover to diabetics. You should get advice from an independent broker, such as ourselves. Please feel free to get in touch. Paul Skinner PKS - Mortgage & Insurance Experts paul.skinner@pks.org.uk


Can you give me the name of a company that specialises in insuring dangerous sports enthusiasts?

There are a number of insurers that will look at participants in dangerous sports. I would recommend speaking to an independent broker such as ourselves in order to find the best options. Please feel free to get in touch. Paul Skinner PKS - Mortgage & Insurance Experts paul.skinner@pks.org.uk


I saved hard for my iPhone. Is it covered by my parents' house insurance when I am at college?

It is highly unlikely to be covered by your parents policy. Very few household policies cover premium mobiles. We offer gadget insurance to cover such items, from less than £5 a month. Paul Skinner PKS - Mortgage & Insurance Experts pks.org.uk


Bank manager or independent financial adviser? Is it worth the fee in the long run to use the latter when arranging a mortgage?

The bank manager is unlikely to be able To give you any advice, and only has access to the bank products. The IFA or mortgage broker will have access to hundreds of schemes. Often the IFA fees can be offset by any commission paid by the lender for introducing your business. Why not try the bank, then see the adviser/broker and see if they can better the banks deal, taking account of any fees you may have to pay? I am sure you will find the broker offers better value. Paul Skinner PKS - Mortgage & Insurance Experts pks.org.uk



joncroz
answered 4 months ago
Tell us about your business idea
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Darren Smith
answered 2 years ago
it can mean that you simply dont fall into their definition of "good" which is very subjective its like asking everyone to define "beauty" and expecting the same answer!

you might find that another institution will be more than happy to accept your custom but just in case there is a problem you should check your credit file. www.creditexpert.co.uk will give free online access to new users for 30 days and you can check for any inaccuracies and remedy them before its too late.

dont be tempted to pay to know your score as this is a worthless exercise. all lenders use their own score card and you cant compare one lender with another or even one product with another from the same lender (ie you could be declined a loan but accepted on a credit card from the same bank).
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Darren Smith
answered 2 years ago
it is possible to get a personal loan on a low income but all companies will set their own minimum criteria.

what would make sense initially is to use a comparison site to get an indication of the monthly costs for loans. 5-8 years is usually the maximum term but if you can afford to comfortably pay sooner, you should.

the lender will need to know that after all your living costs you can afford the loan repayment and then still have an excess for emergencies - again this amount will vary.

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D C
answered 2 years ago
100% loans are not just difficult - they are impossible, I'm afraid. So you will need a deposit of at least 10% of the purchase price, though with a (relatively!) small deposit, you will not get the best (ie cheapest, with good features) products.

It really is not easy for the first-time buyer, nowadays. Some people take a gift from parents, who may have savings or who may be able to increase their own mortgage a little, or who (if elderly) can take an 'equity release' product to help you out. If such a gift is available and is readily offered then you should seriously consider it.

Other than this, you need to start a regular savings plan, making sure that you stick to it by regarding the money saved as 'not available' and the monthly savings as simply a reduction of your income. A final, really important, point is to maintain excellence in your credit history: pay all bills regularly and by standing order, so they don't get overlooked and avoid any blemishes. If you don't have a credit card, do obtain one (this will improve your credit score) but don't get carried away and use it more than minimally.
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Darren Smith
answered 2 years ago
a personal loan is really the only viable, and cheapest option.

it would be worth looking at slightly lower values though. sometimes the banks are crafty with rate changes and you might get a better loan rate by either looking at £9950 or £10050. having said that, the amount you are seeking is "average" so the most attractive rates will be in this price band.

do consider carefully before agreeing to loan protection, the banks have stopped offering this as widely as before, mainly due to mis-selling, but you might be able to take a broader income protection plan to safeguard more of your earnings rather than limiting you to the loan repayments.

choose your lender carefully and check their qualifying criteria before you apply. if you make too many applications in a short period you can be declined for making too many attempts as this will impact on your credit file - it makes you look desperate rather than resourcefully seeking the best deal.
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Darren Smith
answered 2 years ago
generally the rates on personal loans dont follow the normal interest rate trends.

loan companies will reduce their rates as a sign that they want to lend more and will therefore be competitive but the rates quoted are always "typical" which means you might see a deal at 6.9% but once your application is processed you might be offered 14.9% because they regard you as a higher risk than the "average" applicant
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Darren Smith
answered 2 years ago
yes, it could relate to the interest rate or APR which also includes other costs attached to the loan.

some lenders will charge application fees and closing down fees, its common when buying a new car from a dealer to be charged £100ish when you pay the final payment to release the charge on the car.

a bad loan might also have unfavourable terms such as very steep penalties on early repayment or missed/late payments.

this is why it is so important to read through all the terms before you sign and if you realise after signing that you dont like the deal, you can usually "cool off" or cancel but this is only within a very small window of time.

i find its often time better spent researching most financial matters in advance rather than trying to spend time against the clock sorting out a mess.
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Darren Smith
answered 2 years ago
they do, in small numbers, but the rates might be punitively unattractive.

the difficulty is that if you have already had a bad experience with credit, a new lender will consider your ability to repay when they judge your application and will most likely increase the cost - its a similar situation to boy-racer 18 year old novice driver compared to a careful older driver with full no claims.

its often called "risk-based pricing".
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Darren Smith
answered 2 years ago
Yes is the simple answer.

But the follow is, why? if you have too many searches on your credit file over a set period, many lenders will see this as desperation and might decline you on those grounds (too many searches). This limit will vary from one lender to another but 6 searches in 6 months is probably at the top end.

if its a case that you need a top up, i would approach your first lender as if you are within 30 days of the initial application being made they might be able to lend more but without incurring a further search on your credit file but the downside is that the rate would possibly be higher or there would be a penalty to repay the first loan back unless there is provision for this within the terms.

in the first instance go back to the original lender and explain what you want.

if you have already taken the maximum from that lender (a typical maximum is £15000 as this was the old limit under the consumer credit act but some lenders have increased to £25000 which is the current consumer credit act limit on unsecured debt).

feel free to get in contact if you want to talk this through some more....
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Darren Smith
answered 2 years ago
yes it will be possible but what you need to consider is that if you find a willing lender they will inevitably charge a higher rate of interest or possibly even want security over the car.

the end result of this is that you would end up paying significantly more for the car.

the following example is not in any way monetarily accurate but consider:

you buy a car today for £5000. with interest the loan for the car will cost £11000 over 5 years. How much is that car worth then? £2000 if you are lucky?

how about wait a bit until your credit has improved, save some cash - you should be able to do this if you can afford to pay the car loan, then when your credit is in a better place you will not only have adjusted your budget to afford the car loan, you wont need as large a loan as you will have a cash deposit to put down and the rate of interest on the loan would have improved and that could halve the cost of interest in one hit!

this of course is before you work out how much the maintenance on the car will cost and the insurance, are you better waiting until you have that next year of no claims bonus?
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