London Financial Advisors

19/03/2024

Attention first-time homebuyers!

Did you know that putting just a tenth of your salary into savings each month will take six and a half years to raise the money needed to purchase a home? According to a homemoving services platform, this is the reality for many aspiring homeowners. Saving for a down payment can be a daunting task, but it's important to start early and be consistent with your savings. With dedication and a solid financial plan, you can achieve your dream of owning a home.

First-time buyers putting a tenth of their salary into savings each month will take six-and-a-half years to raise a property deposit.

18/03/2024

Currently, interest rates on many five and 10-year fixes are not far off those of shorter deals – in some cases they're actually better. But should you be fixing your mortgage for this long? This guide takes you through what you need to consider.

Currently, interest rates on many five and 10-year fixes are not far off those of shorter deals – in some cases they're actually better. But should you be fixing your mortgage for this long? This guide takes you through what you need to consider.

16/03/2024

Are you concerned about your mortgage payments increasing? It's essential to get your finances in order before applying for a new mortgage, and it all starts with a thorough review of your spending.

According to NerdWallet’s research, 42% of mortgage holders reduced non-essential expenses in 2023 to make their mortgage payments more manageable. Categorising your spending into 'wants' and 'needs' can be an excellent starting point. Identify non-essential wants that you could live without to spot areas where you can cut back and make your budget more flexible.

By taking these steps, you can get a handle on your finances and make your mortgage payments more manageable.

15/03/2024

Last year, to help ease the pressure of rising mortgage rates, the Government launched the 'mortgage charter', alongside the Financial Conduct Authority (which regulates mortgages). Most UK lenders, including all the major ones, have signed up.

The charter enables lenders to offer flexible support (or breathing space) if you're struggling with your mortgage repayments – but haven't yet missed one. If that's you, and your lender has signed up to the charter, you can choose ONE of the two following options, to be used once.

New mortgage help is at hand to help if you're struggling. The mortgage charter lets you temporarily switch to interest-only payments or extend your mortgage term.

13/03/2024

Are you in the process of sorting out your mortgage? Well, you might want to act fast! According to Moneyfacts, the average shelf-life of a mortgage product has dropped to a record low of 15 days. That's half the time it took just a month ago. This is the lowest average recorded in six months and not far off the record of 12 days in July 2023 when mortgage rates reached their peak.

So, stay vigilant and act quickly to secure the best mortgage deal.

People attempting to sort their mortgage are finding the best deals are not staying around for long.

12/03/2024

Homes that have been empty for a year will face a 100 per cent council tax premium from 1 April, a shortening of the previous two-year limit.

The government has brought in the policy to crack down on empty homes preventing local people from accessing affordable housing. It is also expected to bring more money in for councils and potentially lead to reduced council tax bills.

Homes that have been empty for a year will face a 100 per cent council tax premium from 1 April, down from the previous two years.

20/02/2024

🏡 Attention Homeowners: Secure Your Home with a Suitable Mortgage Deal

📈 Recent developments have seen many lenders increasing their interest rates. However, this doesn't mean you can't find a great mortgage deal today.

💼 If you're worried about your mortgage rates or renewal, don't hesitate to get in touch with us. Our team specializes in finding personalized solutions to protect your home.

🤝 Let's chat with no obligation. Message me now to explore your options and ensure your peace of mind.

Send a message to learn more

15/02/2024

How does a recession affect house prices and mortgage rates?

During a recession, house prices can be impacted depending on the severity of the economic downturn. Previous recessions have shown that house prices often fall during a prolonged recession and rise in unemployment. On the other hand, a recession typically results in falling interest rates which makes it easier to borrow money and credit in a way that should help encourage spending.

It's important to keep an eye on the housing market and interest rates during a recession to make informed decisions about buying or selling a home. Stay informed and make the best choices for your financial future.

14/02/2024

What happens to the mortgage and the home when non-married couples who live together split? Property expert, Michelle Niziol, explains where you stand.

https://www.whatmortgage.co.uk/news/cohabiting-couples-what-happens-to-the-house-and-mortgage-if-you-split/

14/02/2024

Borrowers urged to seek advice as mortgage lender makes rate hike

Average mortgage rates fell again for the sixth month in a row – but it comes as a major lender made a move to increase its prices.

The average two-year fixed rate mortgage fell from 5.93% in January to 5.56% in February, according to data from Moneyfacts.co.uk.

Average mortgage rates fell again for the sixth month in a row – but it comes as a major lender made a move to increase its

13/02/2024

The number of households failing to meet their mortgage repayments rose by 25% last year. The latest figures from UK Finance show that thankfully repossessions remain low. Here’s what you can do if you are struggling to pay.

Free to read. Mortgage arrears are on the up. Our Consumer rights expert explains the options available if you can't pay your mortgage.

13/02/2024

The allure of paying off your mortgage early is undeniable. Freedom from monthly payments, reduced financial stress, and a bigger chunk of equity seem like a winning formula.

But is overpaying your UK mortgage always the smartest move? The answer, as with most financial decisions, depends on your unique circumstances. Let’s dive into the pros and cons of taking the plunge.