26Mar2019

Is a New Build Home the Right Type of Mortgage for You?

When you are in the process of deciding whether to move home or not there are a few considerations to make. One of those is whether to buy a property that has owners, or whether to buy a new build house. A new build mortgage is an exciting and attractive option for many buyers, especially first-time buyers. There are several reasons why you might find a new build home the right type of property for your next home.

The first thing is that you will be the very first person to live in the property. What this means is that you might be able to put your stamp on the actual structural design and décor prior to moving in, something that just isn’t possible with homes being bought in a chain, and sometimes not at all with some traditional houses, even after you’ve moved in.

Always be aware that there are likely to be time constraints and tight deadlines for developers of new build sites, which might have an impact on your potential mortgage. Always ask questions of the developers and be as informed as possible throughout the entire build.

If you do not have much of a deposit saved up, or you have poor credit and worry that you won’t be able to find a mortgage through the traditional high street lenders, do not fret. At Central Mortgages we have access to a wide range of mortgage providers, and we have helped countless people, including those with adverse credit, to find mortgages that suit them.

To find out more information please contact the Central Mortgages team on 01277 630 183 or office@centralmortgages.net.

21Mar2019

Taking a Sensible Approach as a First Time Buyer

Are you looking at buying your first home? If you are, you’ll be aware that there are a number of obstacles to first overcome, and you’ll have to find a mortgage that suits your specific needs. As a first time buyer it is important to take a sensible and methodical approach to buying your first home, and to be aware of the pitfalls that many have encountered as a first time buyer.

Always Take Advice – There is a reason why specialist mortgage lenders exist, and there’s a reason why Central Mortgages set up this company. In order to get the best deal for you it is important to take advice from the very beginning of the process. Seek out expert advice to ensure you get the best mortgage, and the best home, for your needs and budget.

Be Open to Suggestions – It is easy to fall in love with the first house you see and become blinkered when looking at others. What happens though if your dream home is too expensive? It is important to keep an open mind, look at suggestions and view several different types of properties to find the right home for you.

Plan Your Budget Carefully – Getting a mortgage and buying a home is a long-term financial commitment. It is vital that you sit down and work out your budget, how much deposit you have (or can save up) and have all financial details available when you speak to a professional.

If you would like to find the right mortgage for your first home, contact the Central Mortgages team today on 01277 630 183 or office@centralmortgages.net.

12Mar2019

Saving up for a Deposit for a Home

It has become much harder to gain a foothold on the property ladder in the UK, and even if you do have a home, the deposits required on any property purchase can sometimes be as high as 20%. For many people this is just not possible, or they have bad credit and are struggling to find a mortgage as a result. At Central Mortgages we understand these difficulties, and that’s why we offer access to adverse mortgage providers.

Learning how to save for a deposit is important, as it could make the difference in your quest to buy a new home.

Live within Your Means – It is important to work out your exact outgoings and incomings each month and make a budget. Sticking to that budget can be difficult at first but it is achievable. Never go over your budget, buy only the groceries that are on your list, only buy new clothes when they are actually needed, and keep a kitty for social activities and fun times.

Shop Around for Better Bills – There is always a better option for your utility bills. It pays to regularly review what you are spending on your gas, electricity, Internet and phone bills, and shop around for a better deal. Even if it provides you with leverage to get a better deal with your current provider it could give you access to a few extra pounds that can be put away in savings each month.

Shared Ownership or Lodger – If you are struggling with a deposit, why not look at alternative future arrangements for a new home, such as taking in a lodger to help pay the mortgage, or shared ownership where deposit and mortgage will be split down the middle with another person?

For more information about finding the right mortgage for your new home, contact the friendly Central Mortgages team today on 01277 630 183 or email office@centralmortgages.net and we’ll be happy to offer expert advice and guidance on a wide range of mortgage solutions.

4Mar2019

Maintaining the Value of Your Home

If you are looking to sell your home or remortgage it in the future it is important that you can gain maximum value at that precise moment in time. As a homeowner there are a range of things that you can do to ensure that your house retains its value, and that it grows over time as you live there. Here, we take a look at a few simple tips to help:

Look after the Property Exterior – Curb appeal is a massive part of the valuation of a property. It is the first thing that a person valuing your home, or a potential buyer will see. If you are planning on a complete revamp, think about how it will impact on your neighbours and surrounding area (does it fit in with the style of the neighbourhood), as well as how it fits with the interior and the rest of your home. Keep well-cleaned windows and doors and a pleasant front garden if you have one.

A Quick Spring Clean – If you do have visitors entering your home always make sure that it is as clean as possible. You’ll have warning, or know that there is a period of time where potential buyers could be visiting. Clear away clutter, dust around, and clean away dirt and grime. It’s a good habit for your own day-to-day life satisfaction as well as adding to the potential value of your home.

Make Sure Everything is Above Board – Look at the finer detail of your home and ensure that if anything is broken, fix it as soon as possible. Maker sure all the locks on the doors and windows are in full working order, that the windows are cleaned, all lights are working properly, and anything else you can think of that might otherwise be overlooked and jeopardise a potential sale or valuation.

Central Mortgages provides access to a wide range of mortgage providers, helping those looking for a bad credit mortgage to make the most of a house move or first time purchase. Call us on 01277 630 183 or email office@centralmortgages.net and we’ll be happy to offer expert advice and guidance on a wide range of mortgage solutions.

27Feb2019

Key Factors for Moving Home Day

You’ve got the deposit, found a mortgage that suits you and the transaction is complete. Moving day is nearly here, but what else is there to worry about before the big day?

Move Your Energy – It is best to contact your energy providers as soon as possible about your home move. Notify them at least 48 hours prior to the move, providing your new address, moving date and final meter reading on the day you move out. If you are switching suppliers this ensures as smooth a process as possible. It is a good time to look into switching tariff to a cheaper payment too!

Move Broadband and Phone – Some phone and broadband suppliers will happily just switch over the service to a new address, but in some cases this might not be possible. The same as with utilities, ensure all parties know well in advance, as the last thing you want is days without Internet access when you move into a new property.

Redirect Mail – In advance of the move contact Royal Mail and put a redirect on all mail delivered to your old home address. You can choose to do so for a period of time that suits you (3, 6, or 12-months), whilst you take the time to update all records on your new address.

Register to Vote – In order to be able to vote in all upcoming elections, but also to help your credit rating, update the electoral roll as soon as possible once you have moved address. This can easily be done through online forms on the Government electoral register website.

It is important to the team here at Central Mortgages that your best interests are covered from day one. If you are looking for a mortgage this is the best place for you. Call our team on 01277 630 183 or email office@centralmortgages.net and we’ll be happy to offer expert advice and guidance on a wide range of mortgage solutions.

17Feb2019

First Time Buyer Problems

It is a very exciting time when you first start to gain a foothold on the property ladder. First time homebuyers bring much excitement to the process, but there are so many different factors to consider, and many costs that aren’t initially apparent, that it can be easy to make mistakes.

Here, we take a look at some of the problems that first time buyers face.

A Small Deposit – The deposit required for a first time homebuyer has continued to increase at a staggering pace over the last few decades, and at this moment in time it remains the biggest obstacle to first time buyers. Although you’ll need to save more than the deposit to ensure you have enough, there are other options, including smaller deposits and larger loans, shared ownership, and help to buy.

Consider other Costs – On top of the deposit and mortgage costs, what about other costs? You’ll be expected to make monthly payments towards property insurance, council tax, life assurance, utilities, as well as now be responsible for all maintenance and repair costs.

Don’t Borrow Too Much  -Always think long-term. There is no point agreeing to a mortgage that will overstretch your finances for the foreseeable future. If you are in agreement to make larger monthly payments, consider the knock-on effect this will have on all other aspects of your life.

Whatever you decide to do, it is important that you have expert assistance and guidance from day one. Contact the friendly Central Mortgages team for help and insight into a wide range of mortgages and loans. You can speak to us on 01277 630 183 or office@centralmortgages.net.

11Feb2019

Understanding the Costs of Buying a Property

If you are considering buying a property and moving home you’ll be well aware of the major costs involved with the move. Remember, the Central Mortgages team can help you find the right mortgage for you, covering a wide range of financial circumstances and credit history. Let’s take a look at all the costs that you’ll be liable for throughout the process.

Mortgage Costs – For the majority of mortgages you’ll be expected to pay an arrangement fee, which could range anywhere from £500 to £2,000. There are fee-free deals available, and we will always point you in the right direction that will help you to make the move without prohibitive costs wherever possible.

Valuation Fees – The mortgage lender will expect you to cover the cost of the valuation fee – the service is carried out once an offer is expected and to see what the property is worth exactly.

Property Surveys – Depending on the type of property and the general feel of whether it will require refurbishment work or is ready to move into, a property survey could be an extra cost you must consider. It will look at the condition of the property and its structure.

Legal Fees – You will be expected to hire a conveyancing solicitor to handle all legal aspects of the transaction, with a flat fee or a percentage of the property value being paid in fees.

Registry and Stamp – To register a property with a new owner a fee must be paid to the Land Registry department – with a fee between £90 and £140 expected. Stamp Duty is a land tax and property transaction tax on all properties over £125,000.

Moving Home – The final cost relates to moving home, and really depends on the size of the two properties and the amount of furniture and things that you have to move, with removal vans, required in some cases, adding to the costs.

At Central Mortgages we can help you find the right mortgage for you. Contact us on 01277 630 183 or office@centralmortgages.net.

2Feb2019

Finding the Right Area to Live when Moving Home

Choosing to move home is a big deal. At Central Mortgages our team can help you find the right mortgage lender that suits your budget, financial history and credit score, but there are other things to consider. Moving home is for the foreseeable future, so you must be sure on not only the property itself, but that the area you are moving to is suitable for you and your family.

Schools – If you have kids, or are planning to have kids, looking at the schools in an area is vital. If you want your child to be able to attend a certain school, you’re likely to have to be living within a certain catchment area. Look at Ofsted reports and exam results from schools in the area for a greater idea.

Crime Statistics – Using the official UK police website is a good start to check crime statistics for any town and neighbourhood. You’ll never fully get away from crime, but it could put you off an area with a high number of muggings and house burglaries for instance.

Transport Links – For most people this is very important, whether you use your own car to travel or commute via public transport. Modern day technology offers great tools in our hands, so within seconds you can check Google Maps for instance, to see the travel time between your prospective new home and your workplace via foot, car, or public transport.

Broadband Speeds – This is an incredibly important factor in modern-day Britain, and if you cannot access fast Internet it could make a home far less attractive to live in. With broadband speed tests available from a range of sources online, and access to help from your current provider as to whether they service different areas, you’ll soon know whether you’ll be able to work from home and, more importantly, stream Netflix as a family.

For more information about acquiring a mortgage, contact the team on 01277 630 183 or office@centralmortgages.net.

30Jan2019

Why You Need a Conveyancer When Moving Home

Moving home is a complicated process, especially if you are buying a house, or in a house chain where you are both buying and selling a property. The many legal ins and outs can be difficult to get right without the requisite knowledge and experience, and that is why it is always beneficial to hire the services of a professional conveyancer to ensure that everything runs as smoothly as possible when moving house.

A specialist conveyancer is helpful in many different ways. From start to finish they are with you throughout the process, from the moment you put in an offer on a property, until completion. A good conveyancer understands the processes and potential restrictions and pitfalls that you may face and will handle all the legal contracts relating to the sale or purchase of a property.

They will be there to offer experienced legal advice at every stage of a property transaction, and perform the relevant legal duties and searches that help a property transaction to be completed as smoothly and quickly as possible, including all land registry applications and local council searches. They will also transfer funds to pay for the deposit of a property once an agreement has been made.

If you would like to find out more about the importance of conveyancing, and would like to speak to a friendly member of our team, please feel free to contact Central Mortgages today on 01277 630 183 or email office@centralmortgages.net.

18Jan2019

What to Look out For When Buying a New-Build Home

When you are in the market to purchase a home you will have a few considerations to make, from the location, your budget and mortgage requirements, as well as whether you would like to live in a traditional property or a new-build home.

If you have decided to go with a new-build home you may have been invited to view the property before completion, it is always worth getting an independent inspection as part of the process. Although a new-build suggests everything should be spot on as it is brand new, there are little snags and defects reported in many new-build homes once people have moved in.

Take the time to view the property and list any problems or potential problems prior to moving in. Equally, you may have been asked to customise certain aspects of a new-build that make it different from the show home on site. Little things from the positioning of a plug socket, to a light fitting can make a huge difference to how you live in the home, so make sure everything is in the right place, and ask yourself is it worth paying for relatively small changes in the grand scheme of things.

Before agreeing to purchase a new home, don’t be afraid to haggle on the price with the developers or, if they will not move on price, enquire on any potential incentives they can offer. Always be prepared for the time it takes for construction to be completed, and expect delays.

At Central Mortgages we have access to a wide range of mortgage providers. If you are interested in finding out more information about mortgages for new-build homes we are here to help. Speak to a member of our team on 01277 630 183 or office@centralmortgages.net.

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