KMS Mortgages | Mortgages
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Mortgages

Commercial Mortgages

COMMERCIAL MORTGAGES BROKER KIDDERMINSTER

Commercial mortgages generally are secured loans on a property that is not your residence. They can be complex and help move a business forward.

We have extensive experience in finding the right commercial mortgage for our clients.

Areas where we can advise you on are:

  • Mortgages Restaurants’, Pubs, Bars & Cafes.
  • Mortgages for Hotels, B & Bs & Guest Houses.
  • Mortgages for Shops with Flats above.
  • Mortgages for Offices with Flats above.
  • Mortgages for Retail Units.
  • Mortgages for Light Industry.
  • Mortgages for Warehouses.
  • Mortgages for Factories.
  • Mortgages for Storage Facilities.
  • Mortgages for Nursing Homes, Homes for the Elderly.
  • Mortgages for Hospices & Convalescent Homes.
  • Mortgages for Doctors & Vetinary Surgeries.
  • Mortgages for Private Schools & Childcare Nurseries.
  • Mortgages for Farms.

The list is endless.

Call us now on 01562 744122 for advice on everything involved in Commercial Mortgages with one of our mortgage advisers.

BRIDGING LOANS ADVISORS KIDDERMINSTER

A bridging loan is a short term loan.

The aim of this type of funding is to make it possible to purchase quickly and is short term funding so an exit strategy to the bridge is vital. This could be refinance of the asset or even sale.

The main reasons for the use of Bridging loans are:

  • To raise finance quickly.
  • To refurbish a property.
  • To finish a development.
  • To buy at auction.
  • To purchase a property this could not be mortgaged because of its condition.
  • To bridge any short fall of funding between buying and selling a property when a sale is delayed.
  • To raise a deposit for purchasing property.

Call us now on 01562 744122 to discuss everything involved with Bridging Loan with one of our advisers.

FIRST TIME BUYERS MORTGAGE ADVISERS KIDDERMINSTER

Are you trying to buy your first property and get on the property ladder? Do you have questions about how the process works?

We have extensive experience with helping first time buyers get their first step on the ladder and understand how daunting buying your first property can be.

KMS offer full tailored advice and are on hand every step of the way to guide you through the process and advise you on everything you need to know to take as much stress away from you as possible.

Some of the many things we can advise you on are:

  • New Buy, the Government-backed 95 percent mortgage package
  • Help to Buy shared equity scheme.

Call us now on 01562 744122 to discuss your situation with one of our experienced mortgage advisors and let us take your stress away.

FIXED RATE MORTGAGE ADVISORS KIDDERMINSTER

This is a very common type of mortgage.

A Fixed rate mortgage is a mortgage is when the lender fixes the rate that you will pay for a set period.

Call us now on 01562 744122 to discuss Fixed Rate mortgages with one of our advisors for full advice on everything involved

HELP TO BUY

These governments run schemes are designed to help buyers of residential homes.

Two schemes are called.

  • Equity loan scheme.
  • Mortgage guarantee scheme.

Equity Loan scheme

This was launched on 1st April 2013. The scheme aim was to help both first time buyers and home movers.

To qualify for this product, you must buy a new home valued no more than £600,000 and own no other property in this manner. Also you won’t be able to sublet this home.

The buyer would need to have a deposit of at least 5% to buy any type of property.

The lender would be required to do due diligence and the purchase be no more than £600,000 and own no other property in this manner. Also the mortgage must be on repayment and cannot be an Offset or guarantor

Call us now on 01562 744122 to discuss Help to Buy mortgages with one of our mortgage advisors to see how help to buy mortgages can help.

FURTHER ADVANCE

A further advance is when you take more borrowing from your current mortgage lender against your main residence.

You may not want to remortgage or switch lenders and a further advance should be competitive.  However; it always pays to check the market to see what’s out there.

This type of borrowing can be used for various reasons such as:

  • Home improvements
  • Deposit for second property
  • Help a loved one
  • Consolidate other debts

Call 01562 744122 to discuss Furth Advance options with one of our mortgage advisors to see how they can help.

LET TO BUY

Many people are choosing to let their existing property rather than sell when they move into a new home.

Pros

  • Rent out your existing property in order to another home locally or in completely different location within the UK.
  • It’s a really good way to retain your property if you’re relocating as a result of a job or circumstance change for a period of time and need to purchase a new property whilst you’re away.
  • A way to retain your existing property as an investment and benefit from the mortgage cost covered by the rent.
  • A real benefit from not being involved in the buyer’s sellers chain and not having to sell existing property.
  • Start building your property portfolio.

Cons

  • It’s a requirement of the new lender that you ask you existing mortgage provider to give their permission to let the property out.
  • It’s important to inform your building & contents provider.
  • If your property is leasehold, you will need to make sure that your lease has no restrictions on letting the property out.
  • The difference between the rental income & interest only proportion of the mortgage may be deemed taxable.
  • The property may have times when it is empty and not generating rental income.

Call us now on 01562 744122 to discuss Let to Buy Mortgages with one of our mortgage advisors.

LET TO LET

Many people are choosing to let their existing property rather than sell when they move into a new home they will rent themselves rather than buy.

Pros

  • Rent out your existing property in order to another home locally or in completely different location within the UK.
  • It’s a really good way to retain your property if you’re relocating as a result of a job or circumstance change for a period of time and need to rent a new property whilst you’re away.
  • A way to retain your existing property as an investment and benefit from the mortgage cost covered by the rent.
  • A real benefit from not being involved in the buyer’s sellers chain and not having to sell existing property.
  • Keeping on the housing ladder.

Cons

  • It’s important to inform your building & contents provider.
  • If your property is leasehold, you will need to make sure that your lease has no restrictions on letting the property out.
  • The difference between the rental income & interest only proportion of the mortgage may be deemed taxable.
  • The property may have times when it is empty and not generating rental income.

Call us now on 01562 744122 to discuss Let to Let mortgages with one of our advisers.

Main Residence

MOVING HOME

Ready to make the next move

Even though you may be an old hand at moving home or starting again there are still lots of ways we can help.

  • We can help work out how much you can borrow.
  • We can help in finding the best deal.
  • You may qualify for the governments Help to Buy Scheme.

Call us now on 01562 744122 to discuss your situation with one of our advisers.

RE MORTGAGE

This is when a new mortgage can be taken out without moving home.

Homeowner re-mortgage for a variety of reasons including.

  • To release equity from a property.
  • To consolidate debts.
  • To move to a better mortgage rate.
  • To save money.
  • To buy a second property.

When to re-mortgage?

Approximately 6-8 weeks before your fixed rate mortgage comes to an end it pays to start looking to avoid paying more.

Please be aware that when consolidating debts, the funds will be repaid over the term of the mortgage, therefore the overall cost of repaying the loan is likely to be higher as the term of the loan is longer.

Think carefully about securing other debts against your home. Your home may be repossessed if you fail to keep up mortgage payments.

Call us now on 01562 744122 to discuss RE mortgages with one of our mortgage advisors.

RESIDENTIAL MORTGAGEADVISOR KIDDERMINSTER

Are you looking to buy a residential home?      Let our advisors at KMS take the hassel away!

We have extensive experience arranging residential mortgages for clients anf can offer full advice of the procedure and be on hand throughout the process to take the hassel away.

Contact us on 01562 74412 to discuss Residential Mortgages with one of our mortgage advisors.

SECOND CHARGE

Second Charge Loans are an established part of the mortgage lending market and they can provide additional funds for clients looking to raise capital.

The lenders vary but you can place a second charge on a main residence or buy to let and have another person on the second charge mortgage who isn’t party on the first mortgage.

A second charge is worth considering if one or more of the following apply.

  • The borrower will be subject to a redemption penalty charge if they re-mortgage the main mortgage.
  • The borrower will lose an attractive rate on their existing mortgage.
  • The borrower has acquired some adverse credit history since taking the mortgage out and unable to find a suitable deal on a re mortgage.
  • The borrower wants to keep the new loan separate from the main mortgage.
  • The borrower wants to pay off the second charge sooner than the main mortgage.
  • The borrower wants to raise funds quicker than re-mortgage.

These types of loans are used for many purposes. Listed below are examples.

  • Paying for a Wedding.
  • Paying school/University fees.
  • Buying a new Car.
  • That special Holiday.
  • Cosmetic Surgery.
  • Extension or home improvements.
  • Debt consolidation.
  • Raising a deposit to help a loved one buy a house.
  • Raise a deposit to buy a buy to let.
  • Separation

Why not take a look at some of the Second charge mortgages available on our find a mortgage section or just contact one of the team who are specialist independent residential mortgage advisers.

Call us now on 01562 744122 to discuss Second Charges with one of our advisers.

SELF BUILD

As the name suggests, it’s a mortgage that allows you to build a house yourself.

You can either opt for the DIY route, where you do most of the work yourself, and use professionals like electricians or plumbers where necessary, or manage the process and employ a surveyor, an architect and tradesmen who will do all the work on your behalf. Alternatively, you can arrange for a contractor to manage the whole project for you.

Call us now on 01562 744122 to discuss Self Build with one of our mortgage advisors to see how self-build options can help.

SHARED OWNDERSHIP

Shared Ownership mortgages help buyers who are unable to buy a home outright.

It allows the buyer to purchase (Own) a percentage of a property (with a mortgage) and rent the remainder and pay rent on that proportion.

Overtime, you will be able to buy a further share in the property until you own it outright. It may prove at some point to sell the property when your circumstances allow you to buy a new home.

For Example:

The property you want is available to buy at say £120,000 outright or on shared ownership. The shared ownership price is 50%.

So in simple terms you can buy 50% of value which would be £60.000 and rent the rest of the property. In some cases, no deposit is needed but generally most lenders will require from the borrower at least 5%.

Call us now on 01562 744122 to discuss everything involved with Shared Ownership with one of our mortgage advisors to see how they can help.

TRACKER

A tracker rate mortgage is a mortgage that tracks another rate. Most track the Bank of England base rate (BBR), however they can also track LIBOUR (Lenders Interbank Offered Rate)

An example of this is when the lender may well set the tracker rate a percentage above or below the rate it is tracking. For example, if the BBR rate is 3% and the lender offers a tracker rate of 1.5% above BBR the interest rate charges on the mortgage would be 4.5%. Like a discounted rate, tracker mortgages mean that the actual monthly repayment you make may vary.

Call us on 01562 744122 to discuss Tracker Mortgages with one of our mortgage advisors to see how tracker mortgages can help.

VARIABLE

A Variable Rate mortgage is a fluctuating rate your lender charges your mortgage. The Bank of England base rate which the years was used by lenders has a bench to set the variable rate at. Since around 2008 lenders have set their variable rate at a lot higher rate (All lenders set their own and vary)

This usually carries no tie in or penalty period Please remember this type of mortgage can move down as well as up in the line with market conditions.

You can also over pay or pay a lump sum off your mortgage at any time.

Variable rate mortgages appeal to borrowers who are unconcerned with possible interest rate fluctuations.

Call us on 01562 744122 to discuss Variable Mortgages with one of our mortgage advisors to see how variable rate mortgages can help.