Mortgage Investments
Investment purchases
Buying property for investment purposes has increased over the last few years, so being able to advise from the whole of the market has allowed us to keep pass with this specialist market and provide you with a scheme to meet your requirements for buy-to-let purchases.
This has had a knock-on effect on the residential market as more and more lenders are introducing ‘let to buy' arrangements for people who are looking to move home and at the same time keep their current property to rent out. Lenders will calculate the mortgage for the new purchase irrespective of the existing one as they assume this will be covered by the potential rent. This allows you to get the new property you want and either rent the current one or hold out for the price you want.
Overseas
Investment purchases have spread to the overseas market and we can help with finding a suitable lender for this type of purchase.
Capital Raising
In times of financial difficulty people need a way of reducing their monthly outgoings. In some instances, the use of a re-mortgage to release valuable equity from your property is a valuable option. KR Mortgages can provide you with a recommendation to help you lift this financial burden.
A re-mortgage may not always be feasible if you’re tied to your current lender so there are companies who are willing to offer you a secured loan (second mortgage). The rate is higher than mortgage rates but it does allow you to utilise the equity and repay over a longer term than unsecured lending.
It is important to note that by using a mortgage or secured loan to consolidate debt you will now be securing it against your property.
A re-mortgage may not always be feasible if you’re tied to your current lender so there are companies who are willing to offer you a secured loan (second mortgage). The rate is higher than mortgage rates but it does allow you to utilise the equity and repay over a longer term than unsecured lending.
It is important to note that by using a mortgage or secured loan to consolidate debt you will now be securing it against your property.
Right To Buy Purchases
Purchasing property from councils and housing associations is still possible but the discount you receive has reduced. Even so we can help find a suitable mortgage for you and, if required, one that will allow extra borrowing for home improvements.
Mortgage Circumstances
Self-Certification of Income
Aimed mainly at the self-employed or those without fixed contracts or bonus/commission schemes. Lenders realise that in certain circumstances the provision of income is not always possible as fluctuations occur over a year. They therefore design schemes whereby the applicant confirms their income and that the mortgage is affordable. Even though the lender doesn’t ask for the proof, to safeguard you and ourselves, we will need evidence to support your application.
Adverse Lending
Due to financial difficulties individuals may find their credit file to contain late payments, defaults or county court judgements. Even though the high street lenders will find it difficult to offer a mortgage, specialist lenders are there to help find a mortgage for you. We have access to all these lenders so each application can be assessed accordingly.