RESIDENTIAL MORTGAGES

FIRST TIME BUYER

These mortgages are for clients buying their first property. Lenders will advance up to a maximum
of 3.5/3.75 x gross annual income less any annualised loan payments. The lender will advance up
to a 90% mortgage if required.

As an example, take an income of £20,000 per
annum and loan of £100 per month. You can also
use our quick calulator to generate your own quote.

= £20,000 - (12 x £100) x 3.75
= £18,800 x 3.75
= £70,500

RE-MORTGAGE

Mortgages where clients change lenders to obtain a better rate and/or borrow additional money to
release equity. Maximum loan normally 90% of the value of your property. The new lender may
cover the cost of a valuation and/or and legal fees incurred during the process.

INVESTMENT MORTGAGES

PURCHASE

Mortgages to purchase buy to let properties can be obtained up to a loan value of 85%. They can be
arranged either on an interest only basis or capital and interest with the maximum advance based on
rental income obtained from the property. If the property is let to students or DSS tennants, this will
reduce the lenders willingness to help.

RE-MORTGAGE

This is a growing market where the land lords re-finance their existing properties to obtain a better
rate and/or release equity. Lenders are increasingly offering rates for investment properties with
some of the fees paid.