Carla Moors - CDM Mortgages

09/03/2023

This will be very important to those who are coming up to their 5 year term.

If you’re thinking of selling your Help to Buy home, learn more about how to repay your equity loan:

https://www.gov.uk/guidance/how-to-repay-your-equity-loan-when-you-sell-your-home

09/03/2023

I have been so busy I have neglected the social media recently but the last couple of weeks we have had 2 Mortgage offers arrive and 2 mortgage agreements in place!

23/02/2023

There are many people out there are not aware of 2nd charge Mortgages.

Just under half (43%) of UK adults are unaware they could release equity in their homes by taking a second charge mortgage to fund renovation costs or assist with debt, Together reveals. The research, which included a survey of 2,000 UK adults, found that the number of customers opting for second ch...

17/02/2023

My Clients in Scotland have finally gone ahead with a full application. They both originally thought they would have to go through a scheme to be able to purchase their own home. However with a lot of hard work they have managed to do this all by themselves. (With a little guidance from me!) Even with an adverse history!

This went live this morning and the valuation is already booked in! Which is great news as exchange is a tight 45 days!

16/02/2023

I cannot get a mortgage due to Adverse Credit!

Is this really true!

We have all had to deal with debt at some point in our adult life whether it's a credit card or a hire purchase for a car.

But when life throws a spanner into the works, and you miss a few payments or if it escalates further and you default or have a CCJ registered. Does this mean you will not be able to get a mortgage?
of course not!

Do not get me wrong, there are a few lenders which will reject these cases straight away. But there are lenders out there that could consider you.
I had a client who wanted to buy their first house. But two years ago, they were made redundant and while they were in between jobs they missed some credit card payments which then quickly default.

Here at CDM mortgages not only do we get the mortgage the client required, but it was also with a High Street lender. So don't write them off completely.

I also had a couple who managed to get themselves into a lot of debt after finishing university. Once finishing university, they found it difficult to find a job in their chosen profession. They managed to rock up 15 defaults between them. Now while this is not ideal their last default was 18 months old, and we managed to fit in with the subprime lender.

Now subprime lenders do have a higher rate of interest, and this is because you are potentially riskier but if the affordability is there, then there is nothing stopping you.

CDM mortgages prides on never giving up until every stone it turned, plus more. This means you can be rest assured you will only need to go to one broker.

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

15/02/2023

A very quick house purchase went though today. Application went live in November, Offer produced in December and now my client is in her new home. It probably would of happened quicker if it wasn't for Christmas getting in the way but we will allow for that! Wishing my client all the best!

08/02/2023

A Right to Aquire Application went live today! This means my clients can purchase their council house which is where their family have grown up in. They can now many more happy memories in this property as long as they wish too.

03/02/2023

Another Shared Ownership Agreement completed today. This has been a long process and we started talks in the middle of last year. But we are finally getting closer to my clients goals.

02/02/2023

Getting a First Time Buyer on the property ladder. First step today completing an agreement in principle.

Now time for home shopping!

02/02/2023

Well you may or may not of heard the BANK OF ENGLAND base rate maybe going up again! Does that mean Fixed Rates will increase!

It is common to think that if the base rate increases then so will fixed rates but that is not necessarily the case. Increasing base rates directly affect trackers as they track above or below the base rate.

In the last few weeks Lenders have in fact decreased their rates! Of course a lender can decide to increase their fixed rates at any point in time, quite often this is done when their service levels. If they become too busy, they will increase them to slow down the business, so they don’t compromise the business.

Fixed rates are linked to ‘swap rates’ which is basically how lenders lend to each other. This rate changes daily but is currently sitting at 4.2% as of today. Whereas three months ago it was 4.8%. Its coming down. Which is why rates are decreasing. But as this is a daily rate it can change regularly.

So don’t panic about the bank of England increasing their rates, this has been forecast and is expected.

30/01/2023

Busy day today!

Agreement in Principle completed for a couple and a young baby today. They are looking to purchase a shared ownership property as their first property.

The Full application was for a different client who is looking to release his equity to complete house improvements and buy a buy to let property to start his BTL Portfolio.

18/01/2023

A very quick turn around with this one today.
Client is wanting to buy a shared ownership and only viewed it yesterday was told they needed an AIP by tomorrow.

Client produced all documents today and an Agreement in Principle was created tonight. All I hope is they are successful.