Octagon Financial Services Ltd

10/10/2022

Are you concerned about the rising mortgage interest rates, how they affect you and whether you are on the best deal in these uncertain times? Speak to your mortgage advisor today and see what options may be available to you.

At Octagon Financial Services we offer a free Mortgage Consultation, so why wait, act now and contact Kristian Rodgers on 07794 083893 to discuss the options available to you.

Octagon Financial Services Limited is authorised and regulated by the Financial Conduct Authority (FCA).
Registered Address: Chancery Court, 34 West Street, Retford, Nottinghamshire, DN22 6ES. Registered in England and Wales. Registration Number 07823372

12/08/2021

It’s been a tough eighteen months for all youngsters trying to keep their education going through the pandemic. Good luck to all those who recently received their A level and GCSE results, through what has been a very challenging time.

We wish all youngsters, no matter of their age, the very best for their futures.

07/08/2021

Applying for a mortgage is one of the first steps for potential homeowners and is often the make-or-break for first-time buyers when embarking on a new chapter.

Getting in touch with a mortgage adviser is a great way to understand how to complete the application and learn the basics of the process. But how long should a first-time buyer expect to wait for their application to be processed? Express.co.uk spoke to an expert to find out.

How long should a mortgage application take?
The mortgage application can be a quick process if there are no external issues with lending or income levels.

In most cases, an application should take between one and two weeks. It does also depend if the client opts for a more in-depth survey and the surveyors' availability.

If all your supporting documents are provided upfront and attached to the case straight away things can happen pretty quickly.

What can cause delays?
Anything from not having the full supporting documentation available to provide to the lender, to the surveyor's ability can delay the processing time of a mortgage application from a first-time buyer.

Lack of deposit and unrealistic affordability aims
New data from Mortgage Advice Bureau found that the top reason for delays in first time buyer applications was due to the lack of deposit or unrealistic aims in terms of affordability.

Poor Credit Scores
Seeking advice on how to boost your credit scores before you apply for a mortgage is a sure-fire way to avoid unnecessary delays to the process.

If you need help with selecting the right mortgage, at the lowest rates for your unique circumstances, let’s have a chat.

Call me on 07794 083 893 send a DM or pop over an email: [email protected].

Kristian Rodgers | Mortgage Expert | Helping people live in the homes they love

04/08/2021

With an offset mortgage, your loan is linked to a savings account and you are charged interest on the amount that is the sum borrowed minus the cash you have in the savings account. So if you borrowed £200,000 and had £20,000 in the savings account, you would pay interest on £180,000.

This might sound like a good idea, given that you are hoping to spend money on the property at some stage in the future, but it does have some drawbacks. With an offset mortgage, you may find that the rates on offer are not as competitive as a standard repayment mortgage, which may cancel out some of the benefits. You will still be making repayments for the full loan amount: only the interest will be reduced. In addition, you are unlikely to be paid interest on the money you hold in the offset account and, when you use cash from the account, the interest you pay on your loan will increase accordingly.

It’s important to remember that if you choose an offset mortgage arrangement, your loan will be for a higher amount than if you had used all your savings for a deposit, so your repayments will reflect that.

If you need help with selecting the right mortgage, at the lowest rates for your unique circumstances, let’s have a chat.

Call me on 07794 083 893 send a DM or pop over an email: [email protected].

Kristian Rodgers | Mortgage Expert | Helping people live in the homes they love

31/07/2021

Buying one’s first home and getting on the property ladder is a major milestone in life, and often takes a lot of time and effort to achieve. In order to buy a home, most people will need to get a mortgage. A large sum can be required as a deposit in order to secure a mortgage.

A mortgage is a loan which has been taken out, to be used to buy property or land. This loan is secured against the value of the home one buys, until the mortgage is paid off.

The lender can take back (repossess) the home if the loanee fails to keep up with their repayments, and then sell it to get their money back.

Most mortgages are for 25 years, but in some cases, they can be shorter or longer. However, to get a mortgage, one will need to pay some money up front as a deposit. The size of deposit required will change depending on the price of the property sought.

Thanks to a Government scheme announced in March 2021, it is possible to buy a home with a deposit of just five percent. The mortgage guarantee scheme involves the Government offering banks a guarantee, encouraging them to offer 95 percent mortgages.

First-time buyers and home movers are eligible to apply for the scheme, which covers properties up to a price of £600,000. Only those buying a property to live in can apply.

People buying a second home, or a buy-to-let property are not permitted.

The scheme is currently set to run from April 2021 to December 2022, although this will be reviewed before the end date.

If you are a first time-buyer or are planning on moving home and need help with selecting the right mortgage, at the lowest rates for your unique circumstances, let’s have a chat.

Call me on 07794 083 893 send a DM or pop over an email: [email protected].
Kristian Rodgers | Mortgage Expert | Helping people live in the homes they love

Credit: Daily Express

28/07/2021

With the Covid infection rates significantly dropping in the last few days, do we finally have something to smile about?

The British economy is also growing at its fastest pace in 80 years and could recover its pre-pandemic size by the end of this year, according to a leading economic forecaster.

Buoyed by the vaccine rollout and a bounce back in consumer spending, the EY Item Club said it now expected GDP to grow by 7.6% – which would be the fastest annual growth in national income since 1941.

Let’s watch this space …….

24/07/2021

With the £500K stamp duty threshold now behind us, property sales in the UK hit a new record level in June, official figures show, but analysts say it may mark the peak of the housing boom.

An estimated 213,120 sales were completed during the month - more than twice the total in May, data from HM Revenue and Customs (HMRC) shows.

Commentators said there was a "frenzied rush" before the withdrawal of some of the stamp duty concessions.

But. with demand outstripping supply, they expect prices to keep on rising.

If you want to take advantage of the extended stamp duty holiday (end of September, £250K) and need help, please get in touch.

Send Direct Message | Call 07794 083 893 | Email [email protected].

Kristian Rodgers | Mortgage Expert | Helping people live in the homes they love

21/07/2021

If you are a first-time buyer or are planning to move home, there is some good news for you. As interest rates drop across the board, Mortgage Lenders have launched hundreds of new deals.

First-time buyers and home movers now have a greater choice of mortgages than at any point since the start of the pandemic. Lenders are continuing to launch hundreds of new deals for people buying a home, resulting in better rates.

Home buyers can now benefit from an increasing number of mortgage options at all loan-to-value (LTV) levels. New analysis by Moneyfacts shows that the number of deals on the market has risen by 56% in the past six months, with 269 new mortgages launched in the past month.

If you need help with selecting the right mortgage, at the lowest rates for your unique circumstances, let’s have a chat.

Call me on 07794 083 893 send a DM or pop over an email: [email protected].

Kristian Rodgers | Mortgage Expert | Helping people live in the homes they love

Credit: Which

17/07/2021

This is positive news as the number of job vacancies in the UK surpassed pre-pandemic levels in the three months to June, according to new data.

The Office for National Statistics said there were 862,000 jobs on offer between April and June, 77,500 higher than the first three months of 2020.

The rise was driven by vacancies in hospitality and retailing.

The number of people on payrolls also grew in June, showing the biggest rise since the start of the pandemic.

It increased by 356,000 in June to 28.9 million.

There was a sharp increase in payrolls in both the food and accommodation sectors as more people returned to work, following a further easing of Covid restrictions in England during May that allowed the hospitality industry to reopen.

Credit: BBC News

14/07/2021

Some of the low mortgage rates are only available through mortgage brokers. If you are looking for the best mortgage deal available for your specific circumstances, pop over a quick message now or give me a call on 07794 083 893 or email: [email protected].

Kristian Rodgers | Mortgage Expert | Helping people live in the homes they love

10/07/2021