MORTGAGES & REMORTGAGES

The mortgage market is huge and schemes change daily. With over 10,000 mortgages to choose from it is not surprising that most people will need advice on selecting the best one. To give honest advice, we must discuss your financial background and your views on various aspects of the mortgage before we can make our recommendations. We offer all clients the choice of paying no fee at all, in which case we retain any commission paid by the lender should a mortgage complete, or you may pay an agreed fee in advance, and we will then refund any commission earned from the mortgage, or a combination of the two.

INSURANCES

Every lender insists on the mortgaged property being covered for the rebuild costs to protect their investment. This is the minimum cover that must always be in place. Beyond this all cover is a matter of choice and preference. Every mortgage should be protected as far as possible by the provision of cover against loss of earnings, illness or accident, or the extreme case of premature death. Whilst the cost of complete cover may be prohibitive, it is sensible to look at what can be done within the available budget to minimise the impact of any future catastrophe. The Best Mortgage Company has access to a wide choice of major insurers for both property, and life. We source through major portals where cover is quoted by comparison of cost, although many other factors must be taken in to account such as claims performance, and speed of service.

EQUITY RELEASE or LIFETIME MORTGAGES

We are qualified in the growing area of Equity Release, or Lifetime Mortgages. These are designed for older clients who need, or want to release some of the equity in their residential property to use as a lump sum for a specific project, say the purchase of a holiday home, or invest to create a monthly income to augment their existing pension. However, taking funds from the value of your home can impact on tax and eligibility for benefits. Advice on this sensitive area is given with the full involvement of family and trusted solicitors.

BUY TO LET & COMMERCIAL

Property is seen as a good investment, with property prices in East Anglia rising every year since 1986 according to the Halifax data base on property prices. My view is that property investment is a business, and must be treated a so. Therefore, I guide clients towards properties that will earn an annual profit apart from any potential increase in the property value, believing that the each investment needs to make money on a daily basis to make it worthwhile.

With Commercial mortgages the clients must have a good business plan or accounts, and the backing to provide a deposit before looking to buy commercial property or a business. Too many people believe that they can buy a business without having any prior knowledge of the relevant industry or funds to invest, and this invariably leads to major problems later on even if they manage to raise the money to start out on the venture.