Totally Mortgages Ltd

03/11/2021

Thank you BNI Lexicon !!

30/10/2021

Amazing opportunity for clients with smaller deposits. Lenders are back with 5% deposit mortgages, with even more to come when the government-backed mortgage guarantee scheme launches in April. So if you’ve got a smaller deposit, we can offer you more options to help you achieve your dreams of home-ownership.



To find out more, contact us on 01252 235319 or [email protected]

29/10/2021

Taking care of family and loved ones is paramount, but what would happen if you were no longer there? Who would support them; pay the mortgage, the utility bills etc.? Life Insurance isn’t too costly these days as over the past few years rates have fallen. Life Insurance provides security and peace of mind that things will be taken care of after we are gone.

Call 01252 235319 or email [email protected] and our advisers will be happy to help you make the right choices for you and your family.

24/03/2021

Yorkshire Building Society first to bring back 95% mortgages

Yorkshire Building Society will become the first lender to relaunch 95% mortgages in the mainstream market, nearly a year after the pandemic spooked lenders into withdrawing low-deposit home loans.

However, the deal will only be available to first-time buyers and the society will apply strict conditions on lending, including ruling out flats and new-build homes.

The recent budget brought news of a government guarantee scheme to encourage banks and building societies back into the low-deposit mortgage market, in a move the chancellor said was designed to help generation rent become “generation buy”.

Although the society is not planning to use the scheme, it said it would not have returned to the market without it, because of the anticipated demand from would-be homeowners.

Last year, together with the handful of other lenders operating in the 90% mortgage market it was forced to place restrictions on applications to manage demand, and on several occasions offered the loans for just two days at a time.

Yorkshire’s 95% deal, which will be offered through mortgage brokers, will have a rate of 3.99% fixed for five years, and comes with a £995 fee.

Yorkshire Building Society’s chief executive, Mike Regnier, said he was confident the lender could shoulder the risk itself, without needing to fall back on government money.

But he said it would not have re-introduced its own low deposit mortgage unless it knew other major banks were about to join the 95% market through the government scheme.

“As the only lender in this market we’d struggle to meet the demand that clearly is out there for customers that have saved for years to get a 5% deposit, and will want to take every advantage of the stamp duty land tax holiday,” Regnier said.

The society has more than 200 underwriters poised for the launch.

The mortgages will not be available to borrowers hoping to buy flats or new-build houses, which can be more vulnerable to price falls during economic downturns.

It is not planning to restrict applications to certain days or time slots, but its strict criteria – which also exclude furloughed workers – is meant to reduce demand.

“We’re trying to restrict, to an extent, the amount of demand that we get from it so that we can manage our service levels. We’ve done that very deliberately,” Regnier said.

The Covid pandemic led to most lenders pulling their 95% mortgages last spring. Currently, there are only five 95% loan-to-value (LTV) mortgage products available compared with 391 in March 2020, and those are specialist deals, according to the financial data provider Moneyfacts.
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But in an effort to kickstart the low-deposit mortgage market, Rishi Sunak announced a government-backed guarantee scheme for lenders.

The scheme, which can be used for home loans given to remortgagors and movers as well as first-time buyers, compensates the bank or building society for some of the money lost if a borrower defaults and the property is repossessed.

A number of mainstream lenders have already committed to the scheme, including Lloyds, NatWest, Santander, Barclays and HSBC. The scheme, which will run until 2022, will be restricted to properties worth up to £600,000.

Source: Guardian 16.03.2021

20/12/2020

Our latest employee helping me do a mortgage application !

15/04/2020

TIME ON YOUR HANDS _ LOOK AT YOUR CREDIT SCORE ?



1. Make sure you are on the electoral register at your current address

2. Pay all bills on time

3. If you have missed any payments make sure you bring the account up to date

4. Apply for new credit only when you need it

5. Pay off debt where possible instead of moving it around

6. Try not to go to the credit limit of available credit

7. If you don’t have a credit card opening one and using it for lunches or fuel and then repaying the balance in full every month can help improve your score.

8. If there is anything you do not agree with on your credit report dispute and try to resolve it

9. Keep an eye on your credit score each month, this can be done online for free at Noddle.co.uk

Remember it is still possible to obtain a mortgage with a poor credit history but the rates offered may not be as competitive.

Sean Wickes
Toyally Mortgages 01252 235319

[email protected]

For mortgage advice you can choose how we are paid: pay a fee, usually 1% of the loan, or we can accept commission from the lender.  We usually charge a mortgage administration fee of £399 should you proceed with an application

07/04/2020

LOOKING FOR MORTGAGE ADVICE?

As experienced mortgage advisers we are committed to helping you understand your options. With access to thousands of different mortgage products we can help you to find the most suitable mortgage solution for your circumstances.

Our priority is YOU and your needs as we look to save you TIME, MONEY & STRESS.
Get in contact with us today and find out how we can help you -

Visit: www.totallymortgages.com

Call : 01252 235319

Mobile, WhatsApp, Messenger 07525 204099

09/01/2020

2019 Mortgage Market Review of the year

Political and economic uncertainty may have dominated 2019, but homebuyers and those looking to remortgage have continued to benefit from rock-bottom mortgage rates.

Many home movers, however, have adopted a ‘wait and see’ approach over the past year, putting plans to sell on hold until there is greater clarity on Brexit. Whether the Conservative election victory will change this and provide a boost for the property market remains to be seen.

Here, we look back at some of the changes that have affected the mortgage market, buyers and movers over the last 12 months.

Property prices

It’s been a sluggish year for the property market, although prices have held up in many regions due to the limited supply of homes for sale. Autumn saw a slight bounce in house price growth, with Halifax predicting that this emerging trend of modest gains will continue into 2020.

Those who’ve decided to take the plunge and move in 2019 have been helped by ultra-low interest rates and competitive mortgage deals which have improved affordability.

First time buyers

First time buyers often have limited deposits, but even those with only 5% or 10% of the property value to put down have had a wide choice of low-cost mortgages to choose from this year. The Help to Buy scheme has continued to support buyers with smaller deposits, and will continue to do so, with changes already announced for 2021.

More than 170,000 first time buyers bought a home in the first half of 2019 alone, according to a report by Halifax, the highest number recorded in more than a decade.

The Bank of Mum and Dad has continued to help many first time buyers this year, and it’s been suggested that the Bank of Gran and Grandad are also increasingly involved in raising a deposit. Lenders have continued to develop products to support those relying on family support, including, for example, ‘joint borrower sole proprietor’ mortgages where the title deeds are only in the child’s name, but the mortgage is held in joint names with the parents.

Remortgages

Many homeowners have opted to stay put and ‘improve rather than move’ in light of Brexit uncertainty, so the remortgage market has seen plenty of activity this year, with lenders busy competing for business particularly in the last quarter of the year.

Medium to longer term fixed rates, which provide homeowners with valuable budgeting certainty, have fallen to record lows in recent months, so they are now only marginally higher than shorter term deals.

Buy to Let

Landlords faced further restrictions in mortgage interest relief from April 2019 and are currently only able to claim 25% of mortgage tax relief.

Those seeking to minimise the financial impact of these changes have remortgaged where possible to reduce their outgoings.

With further reductions in tax relief due to come into effect from April next year, Buy to Let remortgage activity in particular is expected to remain high as we go into 2020.

Looking forward to 2020

Only time will tell what impact the Conservative election win and ongoing Brexit negotiations will have on the mortgage market, but if you’re thinking about remortgaging or getting on the property ladder in 2020, don’t delay if you’ve spotted a deal you want.

Whilst it’s impossible for anyone to know which way interest rates will move next, these ultra-low mortgage rates may not last forever.

** your home is at risk if you do not keep up repayments on your mortgage **

03/01/2020

Are you on a variable rate mortgage deal and concerned about how any interest rate increases may affect your payments?

Call us to explore your options.

Your home may be repossessed if you do not keep up repayments on your mortgage



When was the last time you reviewed your mortgage? You could be saving £££’s per month.

Email or call us and we will do the research

[email protected]

01252 235319

27/06/2019

Steps to improve your credit score:



1. Make sure you are on the electoral register at your current address

2. Pay all bills on time

3. If you have missed any payments make sure you bring the account up to date

4. Apply for new credit only when you need it

5. Pay off debt where possible instead of moving it around

6. Try not to go to the credit limit of available credit

7. If you don’t have a credit card opening one and using it for lunches or fuel and then repaying the balance in full every month can help improve your score.

8. If there is anything you do not agree with on your credit report dispute and try to resolve it

9. Keep an eye on your credit score each month, this can be done online for free at Noddle.co.uk

Remember it is still possible to obtain a mortgage with a poor credit history but the rates offered may not be as competitive.

27/06/2019

Two-year fixed rates fall 0.03% since last rate rise

Despite the Bank of England rate rise of 0.25% to 0.75% in August 2018, the average two-year fixed mortgage rate has fallen by 0.03% from 2.53% in August 2018 to 2.50% today, according to data from Moneyfacts.

Furthermore, its figures show that the average two-year fixed rate at 90% LTV has fallen by 0.07% to 2.68% over the same period.

Within this, the average rate offered by building societies stands at 2.62% - 0.06% below the sector average - while the average rate offered by non-mutuals is currently 2.79%, 0.11% above the average.

Darren Cook, finance expert at Moneyfacts, said: “There clearly seems to be a concerted drive by both building societies and non-mutuals to try and secure the mortgage business of potential first-time buyers, who are the lifeblood of the property market. It is encouraging to see that potential first-time buyers could be benefiting from some healthy competition between mortgage providers and being aided by reduced mortgage rates.

“Building societies not only have tailored underwriting processes that may suit first-time buyers, but the average two-year fixed mortgage rate at max 95% LTV offered by building societies is currently 3.35%, 0.10% lower than the average offered by other mortgage providers. Moving away from the higher tiers however, the average rate for max 60% LTV offered by building societies is currently 1.95%, 0.09% higher than the non-mutuals.

“Further still, 113 products – 31% of all products available – at maximum 90% LTV two-year fixed are available through building societies, with the remaining 257 (69%) offered by other mortgage providers. At the maximum 95% LTV tier, however, 82 products (43%) are offered by building societies and 110 products (57%) are available through the rest of the market, again showing building societies’ willingness to compete for the business of first-time buyers.”

Source Moneyfacts 26.6.2019

25/03/2019

Would you be forced to use your savings if you were to become ill? You don't need to… but you do need to consider income protection.

To find out more
Call: 01252 235319 OR
email: [email protected]