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Think Finance Solutions, Norwich (2026)

09/06/2022

Should you be in on the remortgage boom?
Recent analysis has unearthed that remortgages have risen by more than a quarter between the months of March and April. This is largely down to the multiple base rate rises announced by The Bank of England throughout 2022 and the response from lenders to raise rates accordingly. Many consumers are now looking to ‘lock-in’ the current available rates in a long-term fixed mortgage ahead of any more potential rate increases – but is this the right thing to do? We look at how base rate rises and the cost-of-living crisis could persuade you to follow suit.
The number of remortgages have increased by more than a quarter between March and April. Over 50% of borrowers took out a five-year fixed rate product. With rates on the
rise, it’s essential you take the time to review your current mortgage. If you’re currently
on a variable rate plan or your fixed rate term is coming to
an end in the next year or two, now could be the perfect time for you to lock in a new long term fixed rate mortgage before rates potentially get significantly higher in the coming months. As the economy tries to recover from the pandemic and combat inflation, rates are predicted to rise further – so acting quickly could save you money on your monthly repayments.
Remortgaging has other positives at this moment in time as well. Along with locking in your repayment rate, remortgaging now offers a unique opportunity for those worried about making money stretch amid the cost-of- living crisis that the UK currently faces. Releasing equity in your property can be the perfect solution to being a little more comfortable as energy prices and inflation both continue to rise. So, if you find yourself struggling to cover the cost of your bills over the coming weeks and months, perhaps remortgaging
is worth looking at – it could save you thousands.
There are some, of course, who won’t need to worry about a higher cost of living and are in a slightly more comfortable position financially. Well, remortgaging can still offer benefits to you too! As summer approaches, maybe you’re considering some home improvements? A conservatory? Maybe a home office? Whatever you may be considering, home improvements can be expensive – but not to worry. Remortgaging can make lump sums available to you to finance such projects so that you don’t have to save and could get the work done while the summer weather is (hopefully) warm and dry.
Remortgaging isn’t for everyone, but it does currently offer unique opportunities to take advantage of. If you just want to secure lower mortgage rates for the coming years, want some spare cash to help you through the cost-of-living crisis or maybe you want to add value to your property by doing some home improvements – whatever the reason, remortgaging could be the answer.
If you’d like to discuss the options available to you, please contact me, Paul 07881 788452

08/04/2021

Last month, the government announced a new Budget and as part of it, they announced a plan to encourage the return of the 5% deposit mortgage. And, good news for all you prospective buyers with less than the largest nest eggs, the plan is set to start this month!
If you’ve been trying to buy a property within the past year, especially if you’re a first-time buyer, you’ll probably know that the number of 5% deposit mortgages options has reduced dramatically.
This latest move from the government is their attempt
to reverse this change and encourage lenders to start offering these mortgages again. So, if you’ve been sitting on your 5% deposit waiting for your chance, this is your moment! Speak to your adviser today.
In his speech, the chancellor, Rishi Sunak, explained why this is so important, highlighting that ‘the cost of a deposit’ is
‘a significant barrier to people getting on the housing ladder’. Which, if you’re trying to buy a home currently, you’re probably very, very aware of.
Under the scheme starting this month, the government is covering some of the lenders’ risk on 95% mortgages for potential buyers (both first- timers and old-timers) looking to purchase a property of up
to £600,000 in the UK. The
‘risk’ involved is the chance
that someone who takes out a mortgage may not be able to pay the loan back.
Getting 5% deposit mortgages back on the market is a step towards helping open up
the property market to more people; however, there are still challenges that won’t be solved by this move.
For example, many lenders are still using relatively low income to loan multiples, which means they will only let you borrow
up to 4.5 times your income in some cases. In some situations, that is not a large enough amount to purchase an average property with a 5% deposit.
So, if you are looking to take advantage of the return of the 5% please call me Paul on 07881 788452 for a chat

05/11/2020

If you would like me to send you my monthly newsletter by email then please let me have your email address. It contains updates on the property/mortgage market
Paul

10/07/2020

SOME GOOD NEWS iF YOUR LOOKING TO MOVE

The temporary Stamp Duty holiday has been announced by the government and takes immediate effect, this could save you thousands on your next property purchase.

Up until 31st March 2021 you won’t need to pay any Stamp Duty on the first £500,000 of all property sales in England and Northern Ireland.

To find out how you can take advantage of this incentive, contact me today to discuss your options.
Paul 07881 788452 or [email protected]

30/06/2020

Looking to buy a house but have so many questions like...
✅ What can I afford?
✅ What can I buy?
✅ How much deposit do I need?
✅ What are the extra costs involved in buying a house?
✅ How long is the house buying process?
✅ Are there any hidden checks and extras that come up when buying?
✅ How does Help to Buy work?
✅ Is there any essential insurance needed when buying a house?
✅ Can I buy if I’m self-employed?
✅ Will anyone lend to me if I have slightly bad credit?
I can help with ALL your difficult questions that come up during the house buying process and make sure to get the best deal for YOU
I’ll be with you from the moment you decide to buy a house until you get the keys! 🔑🏠💥 Contact me today Paul on 07881 788452 or email [email protected]

If you have any questions about mortgages, protection or insurance please feel free to contact me on 07881 788452 or pau...

08/06/2020

If you have any questions about mortgages, protection or insurance please feel free to contact me on 07881 788452 or [email protected]
Paul

01/06/2020

What's next for you in the property market?

With many mortgage lenders resuming physical valuations on properties in England, the property market seems to be breathing back into life. Coupled with the majority of housebuilders returning to building sites, there is renewed hope for whatever stage of property ownership you’re at.

But what does it mean for you? We hope to answer some of the questions you may have.
Looking to buy?
The return of physical valuations across England is good news for anyone looking to purchase property. Although many lenders have been offering desktop valuations as an alternative, physical valuations generally give you access to a greater range of mortgage products, particularly those that require a smaller deposit. Estate agents are also returning to work, organising viewings with social distancing and safety in mind. Many housebuilders have returned to building sites, which is positive for any new build owners who are looking to complete on their new home. However, many sales offices for new build sites are still not open, so you may have to make do with a virtual tour for the moment if you wish to reserve a new build property. Contact your adviser today for more information.
How could furloughed income affect a mortgage application?
With 7.5m people being assisted by the government furlough scheme*, mortgage lenders have had to re-evaluate how they are assessing this form of income. Roughly 60% of lenders, including many high-street brands, will accept furloughed income where it can be evidenced. Another 30% of lenders will consider furloughed income on a case-by-case basis, and the remaining 10% will not accept any furloughed income on a mortgage application. With stances changing daily in the current climate, it’s best to contact your adviser to gain the most up to date information for your circumstances.
Looking to sell?
The return of estate agents offering viewings under social distancing measures has already seen an influx of viewings for some properties. Alongside physical valuations returning these were the two main stumbling blocks which the COVID-19 pandemic had thrown up. It may take slightly longer for a sale to go through, but the path seems a lot clearer than it was just a few weeks ago.
Remortgage vs Product Transfer – what’s the difference?
With the current low interest rates, a remortgage or a product transfer may be attractive options for your existing mortgage. Your adviser can arrange both of these options for you, but you may be asking yourself - what’s the difference?
* A Remortgage is when you decide to either borrow a different amount, or decide to switch to a new lender, for example if you’ve come to the end of your existing mortgage product. They usually require full valuations, affordability assessments and credit checks to be carried out.
* A Product Transfer is a simpler process where you transfer onto a new mortgage product with your existing lender. It’s usually for the same amount as your existing mortgage, and so does not normally include a full valuation. There are generally less legal steps, and the process takes less time.
Another form of product transfer is a Further Advance which allows you to borrow more money with your existing lender and can be especially useful when looking to renovate or extend a property. There are pros and cons to all of these options, so it’s best to speak to your adviser for more details before pursuing any option.
Still here to support you, as always
as the property market returns gradually there may be delays from lenders and valuations as they look to catch up with any backlog. Given the changing environment at present, the best thing you can do if you have any questions is to contact me, and I’ll be able to take you through which options suit you best.

Thanks Paul
07881 788453
[email protected]

20/05/2020

You may be asking yourself If remortgages and product transfers are affected in the current climate...

The answer is that the remortgage and product transfer markets have been affected in part, but remain competitive and there may still
be some attractive options out there for you.
It is worth bearing in mind that there may be a delay in obtaining a physical property valuations which could affect the speed of an application.

For a full assessment of the best choices for you, contact me, Paul on 07881 788452 or drop me a message/email.

07/05/2020

Insurance and Protection

At Think Finance Solutions I can help you protect the things that matter with my professional protection advice.
Whether it’s life insurance you need to cover your mortgage, child care or household bills in case the worst were to happen or critical illness cover to help you cover costs in case you fall critically ill - I can find the deal that’s right for you.
I can also help you protect your income from illness, accident and injury and mental health issues as well as provide you with general insurance to make sure your home is properly protected.
If you have any questions please contact me on 07881788452 or email [email protected]

30/04/2020

At Think Finance Solutions, I am passionate about providing professional mortgage and protection advice. I can offer you a wide range of relevant products to suit you and your personal circumstances.
With a tailored approach I will be able to help you with new property purchases, remortgages, buy-to-let purchases, life cover, general insurance, income protection and critical illness cover.
So if you have any questions please call me on 07881 788452 or pop me a message
Paul

Think Finance Solutions

09/06/2022

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05/11/2020

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30/06/2020

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