Finance Advice Centre - Lichfield

Finance Advice Centre - Lichfield Finance Advice Centre provide expert advice on Mortgages, Loans, Life Insurance, Critical Illness Cover, Income Protection & All Business Insurances Who are we?

Founded in 2014, Finance Advice Centre provide expert advice on Mortgages, Loans, Life Insurance, Critical Illness Cover, Income Protection & All Business Insurances. Honest & Practical Advice with 100% Customer Satisfaction Guaranteed. Advisors across the UK.

Applying for a mortgage can appear to be a lengthy and confusing process, with endless forms to complete.You must provid...
29/11/2022

Applying for a mortgage can appear to be a lengthy and confusing process, with endless forms to complete.

You must provide proof of your income, credit commitments, and spending or provide tax returns and business accounts for the previous two or three years if you work for yourself.

Lenders will then conduct what is known as an affordability assessment, a detailed examination of your finances that will be used to determine whether you can afford your long-term repayments or not.

If you want to know more about the application process, reach out, and we can discuss how getting a mortgage would work for you.

Always note: As a mortgage is secured against your property, it could be repossessed if you do not keep up the mortgage repayment

Ever been worried about what would happen to your home if you got ill? Critical Illness Cover is a plan that pays out th...
24/11/2022

Ever been worried about what would happen to your home if you got ill?

Critical Illness Cover is a plan that pays out the mortgage amount if you are diagnosed with a critical illness, as long as this is specified in the terms and conditions eligible for a claim.

You should consider protecting yourself and your loved ones if anything ever happens to you.

If you want to know more about Critical Illness Cover, reach out, and we can discuss the options available to you.

Always note: As a mortgage is secured against your property, it could be repossessed if you do not keep up the mortgage repayment

To study or to buy a house? Why not both? This is possible with the Buy for University Mortgage.This enables students to...
22/11/2022

To study or to buy a house? Why not both?

This is possible with the Buy for University Mortgage.

This enables students to purchase a home to live in with the help of family and then rent out rooms to cover the mortgage payments.

It is intended to allow a student to purchase a property of their choice rather than rent, and to generate enough income from renting to cover the majority of the monthly mortgage repayments.

If you want to know more about Buy for-university mortgages, reach out, and we can discuss the options available.

Always note: As a mortgage is secured against your property, it could be repossessed if you do not keep up the mortgage repayment

Knowing how long the property you want to buy has been on the market is critical!This will give you an idea of how much ...
20/11/2022

Knowing how long the property you want to buy has been on the market is critical!

This will give you an idea of how much lower you can go when submitting an offer. If the property has been on the market for a long time and the sellers are desperate to move, they will most likely be eager to sell it, even if it is for less than the asking price.

If you want to know more about how you can get a mortgage, reach out and we can discuss the options available to you.

Always note: As a mortgage is secured against your property, it could be repossessed if you do not keep up the mortgage repayment

Finding a mortgage may appear confusing and time-consuming if you are a British Expat living and working abroad, or a Fo...
18/11/2022

Finding a mortgage may appear confusing and time-consuming if you are a British Expat living and working abroad, or a Foreign National looking for a UK or Overseas property, we're here for you!

As an Independent Mortgage Advisor, we have access to over 40 banks and building societies, all willing to potentially accept applications from British Expatriates and Foreign Nationals seeking UK and Overseas Mortgages.

If you want to know more about getting an Expat mortgage, reach out, and we can discuss the options available to you.

Always note: As a mortgage is secured against your property, it could be repossessed if you do not keep up the mortgage repayment

According to Statista only 0.7% of homeowners in 2021 were aged between 16 and 24 years old.In 2021, only 0.7% of homeow...
15/11/2022

According to Statista only 0.7% of homeowners in 2021 were aged between 16 and 24 years old.

In 2021, only 0.7% of homeowners were between the age of 16 and 24. This rose to 11.2% for those in the 25-34 age bracket, and 15.4% for those between 35 and 44 years of age. Less than a fifth were 55-64 years old.

The overwhelming majority were those aged 65 and over, occupying over one-third of the homeowner market.

According to mortgage statistics, most households (64%) in the UK are owner-occupiers, which means either owning a home outright, or owning a home with a mortgage. This equates to an estimated 24.7 million households.

In 2020, approximately 8.8 million (36%) were owned outright, with 6.8 million (28%) owned with a mortgage or a loan.

If you want to know more about how you can get a mortgage, at any age, reach out, and we can discuss the options available to you.

Always note: As a mortgage is secured against your property, it could be repossessed if you do not keep up the mortgage repayment

Looking to improve your credit score before purchasing your home? Here are a few quick tips to get you started!Make regu...
10/11/2022

Looking to improve your credit score before purchasing your home? Here are a few quick tips to get you started!

Make regular payments on time.
Keep your credit utilisation low.
See if you could get an instant score boost.
Check for errors and report any mistakes on your report.
Monitor your credit file for fraudulent activity.
Avoid moving home a lot if you can
Keep old accounts open and show a long credit history
Consider getting a credit builder card

If you want to know more about improving your credit score, reach out and we can discuss anything mortgage related!

Always note: As a mortgage is secured against your property, it could be repossessed if you do not keep up the mortgage repayment

A question worth asking.. “How old are you?”And we’re not talking about you but the property you want to purchase! What ...
07/11/2022

A question worth asking.. “How old are you?”

And we’re not talking about you but the property you want to purchase!

What year was it built? Is there a builder's warranty if it’s a new construction? You can look for signs of more significant issues by asking about the property's age before purchasing. All these factors can impact your overall spending, so make sure to factor them in.

mortgage advisors spend a lot of time researching the right questions to ask. If you are unsure what to ask, reach out and we can discuss anything mortgage related!

Always note: As a mortgage is secured against your property, it could be repossessed if you do not keep up the mortgage repayment

NewsIt's been announced by the Bank Of England that interest rates will now rise by 0.75% to 3% - the most significant h...
04/11/2022

News

It's been announced by the Bank Of England that interest rates will now rise by 0.75% to 3% - the most significant hike in more than three decades.

Fixed rates are unlikely to be impacted, but lenders will likely start increasing their variable rates. This means borrowers coming off fixed rates will be affected if they decide not to do anything with their Mortgage and lapse onto a variable rate.

There has never been a better or more important time than right NOW to get yourself an excellent specialist broker.

If you have questions, get in touch, and we can discuss them!

Always note: As a mortgage is secured against your property, it could be repossessed if you do not keep up the mortgage repayment

--

Here's a round up of what happened yesterday:

The Bank of England announced it would increase interest rates by 0.75 percentage points to 3% - the biggest rise since 1989

The Bank also warned the UK is facing its longest recession since records began, saying the county would face a "very challenging" two-year slump with unemployment nearly doubling by 2025

By raising rates, the Bank is trying to bring down soaring inflation as the cost of living rises at its fastest rate in 40 years

But the rise means people coming off fixed-rate deals could see their interest payments increase by around £3,000 a year if they need to take out a loan that is 3.5 percentage points higher

Source BBC

News: The Bank of England announced it would increase interest rates by 0.75 percentage points to 3% - the most signific...
04/11/2022

News:

The Bank of England announced it would increase interest rates by 0.75 percentage points to 3% - the most significant rise since 1989

Fixed rates are unlikely to be impacted, but lenders will likely increase their variable rates. This means borrowers coming off fixed rates will be affected if they decide not to do anything with their Mortgage and lapse onto a variable rate.

There have never been a better or more important time than right NOW to get yourself an excellent specialist broker.

Always note: As a mortgage is secured against your property, it could be repossessed if you do not keep up the mortgage repayment

It's crucial in times like these that you aren't hit by any hidden costs. Disbursements are all the costs that you will ...
01/11/2022

It's crucial in times like these that you aren't hit by any hidden costs.

Disbursements are all the costs that you will have to pay in addition to your solicitor's fee, such as land registry fees and search fees.

If you are worried about any other hidden fees or small details you might be potentially missing, get in touch and we can talk about it! .

Always note: As a mortgage is secured against your property, it could be repossessed if you do not keep up the mortgage repayment

There are so many benefits to using a mortgage advisor.You could save lots of time. You could save money. You can get ac...
28/10/2022

There are so many benefits to using a mortgage advisor.

You could save lots of time.
You could save money.
You can get access to more products.
You'll get expert financial advice.
You'll get help with paperwork.
You'll get help with the application.
You can get help with essential insurance.

Please get in touch if you would like to discuss what options are available for you.

Always note: As a mortgage is secured against your property, it could be repossessed if you do not keep up the mortgage repayment

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Suite 4, Stowe House, St. Chad’s Road
Lichfield
WS136TJ

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