Chris Moring - Mortgage & Protection Advisor at RM Mortgage Solutions Ltd

25/07/2024

The vast majority of renters wouldn't be able to pay their essential bills if they were unable to work due to accident or sickness. This highlights a need for a combination of savings and more importantly, Income Protection Insurance.

Please contact a financial advisor today to learn more about this.

Millions of renters could risk losing their home if they fall sick, are injured, or are made redundant according to new research by Canopy and LifeSearch.

17/07/2024

If you are a landlord or prospective landlord, this could be great news and the encouragement you need to expand your portfolio but if you are a renter, it makes for a bit more grim reading.

Rising interest rates and higher operational costs are closely linked to the amount that landlords charge for rent, according to Landbay's latest research.

18/06/2024

With many people undertaking home improvement projects during Covid, many properties now hitting the market are "ready to move into" rather than "doer uppers".

Would you rather move into a hassle-free property or be able to make your own mark when buying a house?

Homeowners have become increasingly more 'house-proud' since the pandemic, with properties coming onto the market better presented than they were before lockdown.

22/05/2024

When sellers are looking for a quick sale, this is a fantastic opportunity for first-time buyers, cash buyers and others who are at the bottom of a potential chain to have an offer accepted below asking price!

More sellers are in search of a quick sale versus the start of the year

05/04/2024

Old boilers, energy efficiency and damp are a few of the things that can cost you hundreds or ever thousands if you don't ask about them when viewing a property.

What else could cause you problems and can you think of anything else not on this list?

Beyond the purchase price of your new home, there are a number of 'hidden' expenses that can quickly turn your dream home into a financial nightmare.

22/03/2024

"I wonder how much my child will pay for their first home" - Well now research has been done to provide an estimate on how much a child born today will be likely to pay for the average first home.

A British baby born today faces first-time buyer house prices in excess of £500,000, according to new forecasts by estate and letting agency group, Lomond.

08/02/2024

From swimming pools to pebble-dashed exteriors to artificial grass. There are numerous things that can devalue a property in the eyes of a buyer. Have you thought about your property no-go's?

Pebbledash, parking, and pools are just some of the things that Yopa has identified as features (or lack of) that could devalue your home in 2024.

04/01/2024

It really makes my day when I read a review like this one I received on Google a day or two ago. I just wanted to share it:

"What an amazing company RM Mortgage Solutions are.
Chris, who was my main point of contact, went above and beyond when sorting out my new mortgage .
Every time I had a query, they would answer my calls.
Brilliant. 5 Stars."

03/01/2024

Most first-time buyers are prepared to make compromises on the property they buy in order to get onto the housing ladder such as buying somewhere with a smaller garden or further out from where they were initially looking.

Would you compromise on a house you want to buy or would you bid over asking price in order to get what you want?

A new poll by Skipton has revealed a large majority of first-time buyers are prepared to make small sacrifices to secure their first home.

20/11/2023

Tracker Mortgages

Everybody has heard of Fixed rate mortgages but not so many people know of Tracker rates. Trackers, unlike fixed rates, are variable type of rates - they track the Bank of England's base rate. If the base rate goes down by 0.5%, then so does your mortgage rate and vice versa.

With the Bank of England holding the base rate, there is plenty of speculation that it is only a matter of time before they reduce the base rate which would suit those on Tracker rates perfectly.

Another perk that Tracker mortgages offer, is that some of them don't have early repayment penalties attached to them - if rates do start to creep up, you are looking to sell your property shortly and don't wish to pay a higher rate or for any other reason causing you to need to redeem your mortgage inside the next 2 years, then you can do so without paying the standard penalties attached to the Fixed rate counterparts. Is this an option for you?

15/11/2023

What is a Default?

If you have a credit commitment (e.g. car finance) and you miss a payment, you will get a "Status 1" recorded on your credit file. If you miss another consecutively, your account will go to a "Status 2", etc.

It is down to the credit provider, but after X number of consecutive missed payments on any individual commitment, that provider may then issue a Default on the account. This will then alert any new credit providers who you apply for credit with that you may not be credit worthy - this can lead to a declined application or a higher interest rate on any new application including mortgages.

If you want to identify whether you have a Default on your credit file, speak to a financial advisor who can assist you with this.

09/11/2023

What can you borrow? (Example)

If you are a single person on £35,000, with no unsecured debts (credit cards, car finance, bank loans) and good credit and a 10% deposit, here is what you could potentially borrow:

Over a 35 year mortgage term, you could potentially borrow up to £157,000. Currently, on a 2-year fixed rate mortgage, you can expect this to equate to £900 p/m in mortgage payments (purchase price of about £174,000).

If you are in a situation similar or entirely different to the above, then the numbers and borrowing capacity will of course differ accordingly so please seek advice on this. A qualified mortgage advisor should also be able to tell you what you can expect your monthly mortgage payments to be when borrowing certain amounts of money too.