Stamp Duty Holiday
As of 8th July, the government have introduced a tax break on Stamp Duty Land Tax, meaning that until 31st March 2021, UK homebuyers will not have to pay any tax on the first £500,000 of new properties, up from £125,000. If the property is a second home or buy-to-let, you will only need to pay the 3 percent surcharge. For many people, this could reduce the cost of property purchases by thousands, however it is time limited. If you are considering purchasing a new home or an additional property, and would like to know how this could benefit you, please contact us.
First-time Buyers Under Covid-19
Owing to economic uncertainty, many lenders have restricted their criteria, making it even harder for first-time buyers (or people with lower deposits) to access 85 or 90 percent loan-to-value (LTV) mortgages. Because of this, it is more important than ever to rely on professional advice in order to purchase your dream home. Our advisers here at Bigmores are up-to-date with all the latest developments, and will be able to help you find the right lender in trying times.
As probably the biggest single financial commitment that someone will make in their lifetime, Bigmore Associates understands the personal and financial significance of mortgages and home loans. We are experienced, expert mortgage brokers who provide a comprehensive mortgage and home loan advice service whether you are a first time buyer, remortgaging your home or purchasing an investment property. We are also specialists in retirement and lifetime mortgages and can advise on equity release home loans.
Buying and selling homes can be a stressful process. So as well as organising the loan, we’ll liaise with the estate agents and solicitors involved, to ensure that the whole transaction proceeds as smoothly as possible.
At Bigmores, we pride ourselves on our expertise across the board when it comes to different mortgage products, and the various personal and financial situations of those looking to apply for them. Nonetheless, we’d like to highlight some areas of specialism where we feel we offer clients added value.
We also advise our business owner clients on limited company director mortgages and loans, dividend mortgages and mortgages and home loans for those on commission income.
And if you’re coming to the end of a fixed rate mortgage, make sure you give us a call to discuss the best options for you – we can investigate and advise you on the best fixed rates deals available now for you to switch to, depending on your individual situation and requirements.
Reduce mortgage payments
With Coronavirus comes economic uncertainty, and our advisers are on hand to answer your questions and help you manage your financial situation. If you have mortgage repayments which you would like to reduce, we can be of assistance, particularly if you have a fixed rate ending soon or you’re on a variable rate at present. Whatever your situation, you can speak to one of our advisers for a free consultation.
If you have unsecured debt which is no longer manageable, this could potentially be consolidated in order to help bring your overall monthly costs down at a difficult time, although this is always something you should seek advice on. Debt consolidation has some important implications which our experienced advisers can talk you through, and if we agree it is beneficial for you to do this we will arrange it for you.
First Time Buyer
Buy to Let
Second Home & UK Holiday Homes
Equity Release and Lifetime Mortgages
Limited Company Director
Self employed & Contractors Mortgages
Commission Income Mortgages
Further Advance Loans
Non UK Resident Mortgages
Ready to make your next move? Let us take care of your mortgage so all you need to focus on is the move.
Even though you might be an old hand at moving home by now, there are still lots of ways we can help. From arranging the conveyancing and insurance to helping you with the legal paperwork.
Work out how much you can afford to borrow
Recommend which mortgage best fits your needs and circumstances and what it'll cost
Talk you through the protection options available for your home
Bridging Finance is a short term loan that provides fast access to funding when it is needed most. Bridging loans can be used to raise funds for any legal purpose and are designed to last for no longer than 12 months and require you to have a strategy in place to ensure that you can repay the loan. We use a specially selected panel of lenders for bridging loans.
To provide an example, bridging finance may be suitable for people who purchase a property at auction, where funds are required quickly. It is much quicker to arrange than a normal residential mortgage; on average 7-10 working days from the first enquiry to completion.