Stamp Duty Holiday
Originally planned to end on 31st March 2021, the Stamp Duty Land Tax holiday introduced by the Government will now remain until the end of June. This means until 30th June 2021, any purchases completing on or before this date will be free of Stamp Duty on the first £500,000 of a new purchase. Buy-to-let/second property purchases will still incur the 3% surcharge. Beyond this date, a tapered rate will apply: from 1st July 2021 until 30th September 2021, the nil rate band will be £250,000 – meaning an effective saving of £2500 – before returning to the standard nil rate band of £125,000 from October 2021 onwards. If you would like to make use of this incentive whilst it is still available, we’d encourage you to contact us re beginning the home buying process as soon as possible, as there is unlikely to be a further extension to the scheme.
With the Government’s recent announcement regarding 95 percent loan-to-value mortgages, many potential homebuyers who have been excluded from the property ladder owing to the size of their deposit may finally find themselves in a position to secure their dream home. The scheme will feature the UK Government effectively serving as a guarantor for part of the loan, giving lenders the confidence to offer borrowers more. In these uncertain times, lending criteria and rates are shifting constantly, meaning now, more than ever, the guidance of a mortgage adviser is imperative. If you’re wondering what your options are now, and whether or not the new scheme would benefit you, please contact us today.
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.