- Salli Anstey
You may have entered this January with big plans for the future, but as 2019 continues to promise political uncertainty it might also feel like any planning for the future is pointless.
We believe, however, at Private Wealth Mortgages, that it’s important for people to continue to plan ahead, keeping in mind what they CAN control. Often planning for a few eventualities and finding that in the event of the worst-case scenario, you’re still able to do what you want to do, gives some peace of mind that you’re not simply in limbo.
So, if this year, you’re looking to re-mortgage, buy somewhere new or borrow some money for renovations, it might be the perfect time to carry out the necessary checks and find out now what you need to make it a reality. Our expert advisers have a combined 30 years of experience in providing guidance in these areas and can assess, for FREE and with no-obligation, your current circumstances and some possible viable options. In the meantime, here are some tips on planning forward for now…
It’s a great time of year to get a handle on your outgoings and incomings by performing a personal audit. Also, checking that you’re on the best utility tariffs, and if not re-negotiating or switching, could provide you with some bonus savings.
For anyone looking to purchase a property or secure a loan, ensuring your credit files and scores are in good shape is important and allows you to be one step ahead. Confirming that all your accounts have the most up to date personal details on, cancelling unused store cards and making sure you’re on the electoral role all helps with the score. Our advisers can guide on this.
For those who are self-employed, with the January tax return deadline looming, ensuring your financial situation is properly prepared and satisfactory is obviously a priority for this, but it’s also essential for securing a mortgage. Lenders will assess self-employment income differently, so having an account review with us to ensure you are in the best financial position you can be, is key.
For anyone with an Interest Only mortgage coming to an end in the next few years, now is a good time to have a firm strategy in place for repaying the loan. We can help those in this position with a variety of options and the best advice based on personal circumstance. FCA figures suggest there are around 1.67 million full interest-only and part capital repayment mortgages outstanding. A large section of these will be older borrowers. Retirement mortgages are a viable option, but the whole of the later life market is packed with different types of ways to help that may serve longer term financial needs better. Our team of expert retirement mortgage advisors have access to the whole market and can help with the best options.
Of course, one of the upsides of an unpredictable economic future is that it’s a good time for first time buyers to be able to get onto the property ladder as house prices have slowed. This combined with government schemes designed to help could make it more of a reality for this sector.
Our view is…get your ducks in a row and gather the relevant advice rather than strategising about an unpredictable economic future.
We are more than happy to help with any of the above – providing a free, no-obligation consultation. Give us a call today at Private Wealth Mortgages on 01403 270006 or email: info@privatewealthmortgages.co.uk