Vivid Financial Services Ltd

08/11/2021

Despite what you may have heard mortgages for self-employed people are still available. Here's a brief guide and if you require any further assistance please call us.

21/09/2021

Factory worker Simon Williams has been refused a mortgage after applying to restock the ink in his HP printer.

Williams said he had taken on extra shifts and all overtime available at work over the last few months to save up a reasonable deposit, but that he was relying on the bank to help make his dream of colour printing at home a reality once again.

He told us, “It’s not like I’m not good for the repayments, I showed them my bank statements, my employment contract, and I even had 25% deposit in cash – but they just wouldn’t lend me what I needed for a set of high-yield colour cartridges.

“I could easily afford the repayment over the next 25 years, so I don’t really see what their problem was.

“The mortgage advisor said I had apparently ‘set my sights too high’, and someone with my level of income should be looking at more ‘entry level colour options’ like a bag of wax crayons, or maybe some felt-tips.”

A spokesperson for Bristol Building Society said that many first-time printer owners were simply unable to get on the printing ladder in the current economy.

Mortgage adviser Steve Bolt told us, “Unfortunately, full-colour printing is simply out of the reach of most first-time printer buyers.

“It’s not their fault, obviously, but unless you happen to have wealthy parents, or have saved up a hefty 50% deposit, I’m afraid you will have to enjoy your paper ink-free.

“Or maybe just put it on your credit card?”

27/03/2021

Another satisfied client...enjoy your new home! ☺🏢

10/03/2021

It's always nice to be thanked for doing a good job ☺

24/02/2021

10/11/2020

Demand and delays in the housing market.

Back in July, Chancellor Rishi Sunak announced a stamp duty holiday. Cue the cheers of prospective buyers who could save thousands of pounds as a result. However, fast forward to now and the housing market is facing significant delays due to the huge surge in buyers looking to take advantage of the holiday. This could mean many may miss out on getting their purchase through before the deadline in March 2021. So, how can you give yourself the best chance of moving before the stamp duty holiday ends?

The best way to give yourself a fighting chance of saving that money is to start as early as possible. In fact, you should have started before the 1st November according to many industry experts. This date has been widely considered as the last day that comfortably gives you enough time to complete the entire house buying process before the end of the stamp duty holiday on 31st March 2021.

As I’m sure you’re aware, the start of November has been and gone. So, if you haven’t begun looking at houses or put an offer in yet, stop reading this and do that ASAP! You can still view, buy and sell houses under the new restrictions, as long as you remain socially distanced and safe.

The reason why you need to start your house move as soon as possible is because the estimated average time between finding a property to moving in is now 15 weeks! That’s over a month longer than this year’s series of The Great British Bake Off.

This delay is much longer than the pre-coronavirus average. It is due to overwhelming demand caused by several factors, one of the key ones being buyers keen to save money by avoiding stamp duty.

It is also important to remember that the estimated 15 weeks doesn’t take into account the Christmas period or the impact of the November lockdown. Although the housing industry remains open, both of these things could mean the process takes even longer. Similarly, for more complex cases, such as buyers who are self-employed, it may take up to eight weeks to just get a mortgage offer approved. Eight weeks may not seem a long time with March being five months away but if there is a week or so delay at every stage from valuation to mortgage offer to
searches to exchange, it quickly adds up.

We don’t mean to be all doom and gloom, but the reality is you need to move fast if you want to avoid stamp duty and you’re probably going to want professional help. Give us a call or drop us a line to make the process as fast and efficient as possible, and have the best chance possible of making the March deadline.

28/10/2020

90% mortgages are now available to first time buyers only. Give us a call for an informal chat if you'd like some further information.

21/03/2020

To all of our clients, this is just to say that Fiona & I are still working and are on hand to assist you with any enquiries around things like mortgage payment holidays etc. Please feel free to call or drop us a line at any time.
Stay safe. Steve & Fiona.

19/03/2020

https://www.bbc.co.uk/news/business-51962982?at_custom1=%5Bpost+type%5D&at_medium=custom7&at_campaign=64&at_custom4=11F06C96-69F0-11EA-A6B5-A6393A982C1E&at_custom2=twitter&at_custom3=%40BBCBreaking&fbclid=IwAR1hbI5UGXLIphO3TnLQeYk1cPDp24VQ20MSYbbFmYq46i8bmidPBdLv85c

The Bank bumps up its measures to support the UK in its efforts to support the UK economy

09/01/2020

January is a month where we often assess our personal health...cutting back on alcohol and watching what we eat etc, however it can often be a good time to look at your household expenditure and how you could potentially make savings.

A remortgage to a lower rate can make a big difference to your financial position. Why not contact Steve or Fiona at Vivid for a free review of what you could achieve...

09/10/2019

69% of adults plan to remain in their current home in old age and an increasing percentage want to release equity to generate income, according to research from Canada Life.

05/06/2019

Just received this note from a lovely couple and their young family, who we've helped buy their first home..

"Hi Steve. Just wanted to say a massive thank-you for everything you've done for us.Without you, this wouldn't have been possible.

Have put your name out there a few times already singing your praises to people at the school and at work who are looking to buy their first home but don't know where to start with it all.

So a massive thank you again"

Makes what we do really satisfying :-)