From buying your first home, to commercial mortgages and more, I can help find the right product for you. Listed here are a few examples of those products, but as ever, the advice is to talk to me about YOUR circumstances.

Secured Loans and Second Mortgage Charges

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They are viewed as an alternative way of raising funds instead of remortgaging but there are certain factors that you should consider before you apply.

Firstly, you must be a homeowner to get a second mortgage, though it should be noted that you do not physically need to live in the property.

It allows you to use any equity you may have in your home as security against another loan, meaning you will have two mortgages on the same property.
Second charge mortgage and remortgaging/further Advance?

Maybe you have a worse credit rating than when you first took out your main mortgage or you have an early repayment charge on your mortgage that you will have to pay if you were to remortgage, it might be good advice to offer a Second Charge.

With a second charge mortgage, a higher interest rate will have to be paid on the secured loan, and you will have to pay mortgage arrangement fees. However, this could be less than the cost of having to pay the early repayment charge you would have to pay when remortgaging.

Fee-Free Adverse Credit Mortgage Advice

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Sometimes life can be difficult and throw up financial problems we never dreamed that we’d ever have to go through. When it happens it’s easy to suddenly find yourself feeling very exposed. You apply for a mortgage and find that it’s been turned down. It could be something as insignificant as having missed a mortgage payment 18 months ago, but that could be all it takes to give you a bad credit rating. It can happen very easily.
We can help.

At Steve Sloman Mortgages we consider ourselves experts at finding our clients the right mortgage, often being able to offer a mortgage with exactly the right terms, even though you may have an adverse credit history. We’ll always listen to each case individually to get to understand your particular circumstances before beginning to research our bank of over 30,000 mortgage options to find the one we know will suit you.
An adverse credit mortgage can be called a number of different things, including a non-status mortgage, sub-prime mortgage, bad credit mortgage and a non-standard mortgage whatever it’s called, it all amounts to an extremely confusing picture for those who for whatever reason find themselves in this lending bracket.

If this sounds like you, then ring me now to receive some of the best advice and help available.

Fee-Free Help to Buy Scheme Advice

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Are you a first-time buyer, tired of paying rent, who can afford mortgage payments but cannot afford a deposit of more than 5%?

Or do you already own a home but feel trapped because the value of your home has not increased, so you can afford only a 5% deposit on your next place?

Now could be a great time to get on the property ladder and own your first home or make your next move, contact us today to see how Help to Buy could help.

Help to Buy: Equity Loan
For home-buyers, the Help to Buy: Equity Loan scheme is for people who wish to purchase a new build property when they cannot afford one in their area because of lack of income and insufficient deposit.

These include first-time buyers who are trying to get on the property ladder, and ‘second-movers’, needing to move up the ladder to a bigger home.

These loans are not available for Buy-to-Let landlords or second homeowners.

Help to Buy: Mortgage Guarantee
The Help to Buy: Mortgage Guarantee scheme helps home-buyers with good credit records who can afford to purchase the property outright with a deposit as low as 5%.

These include first-time buyers who are trying to get onto the property ladder, and ‘second-movers’, needing to move up the ladder to a bigger home.

These loans are not available for Buy-to-Let landlords, second homeowners or for a Shared Ownership purchase.

To apply for Help to Buy or if you are interested in finding out more, please select your nearest branch and give us a contact us today to find out what our free advice can do for you!

Fee-Free First Time Buyers Advice

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Many lenders now have specialist First Time Buyer products, sometimes with lower fees, and perhaps are more flexible in their underwriting. It is essential that First Time Buyers receive an extra ‘helping hand’ and advice on the various costs and time scales involved in a first move, as well as the most appropriate products available. An independent ‘Whole of market’ status is more important than ever, to offer the best combination of mortgage and protection products, tailored to the individual. This can then become a ‘building block’ to future moves as well as changes in circumstances.

Guarantor Mortgages

This type of mortgage allows a close relative to join in with the mortgage application for First Time Buyer(s), and use their income to boost the borrowing availabe. Some lenders require the Guarantor to be able to afford the whole new loan, as well as any current commitments, whilst others will treat them as an additional applicant. This can be a valuable asset in getting on the property ladder, but would be reviewed regularly as this is deemed to be a temporary situation by most lenders.

Fee-Free Remortgages

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Many clients looking to re-mortgage are increasing their borrowing for a specific purpose, and want to ensure that their out-goings remain affordable. Others, however, may just want to obtain a more competitive rate on their mortgage, and perhaps opt for a Fixed rate to allow them to budget. There are often schemes offering Free surveys and legal work, which helps to keep the costs down and compete with whatever is on offer from the current lender.
As this type of transaction can take several weeks, it is always best to book an appointment 2 – 3 months before the end of a current deal, to start the search for the most appropriate re-mortgage product.

Moving Home

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This can be one of lifes most stressful tasks. Why not reduce the hassle of arranging the finance by letting us take care of that for you. We can discuss how much you can borrow, what it costs and who is offering the best mortgage for you.

Commercial Mortgages

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I have been arranging commercial mortgages all over the country for several years now and built up relationships with many of the local and National lenders. A Commercial Mortgage is a Tax efficient way to raise funds for many different projects, and can be used for example to expand an existing business, move premises, or even to acquire another business.

I know that finance for your business is very personal, and therefore suggest a meeting in the early stages to see what options are out there. You may even find that the payments on a commercial mortgage are similar to rental, but with massive potential benefits and security.

Call me today on 07811144063 to make an initial appointment.

Protect your Business:

  • Key person insurance – also known as keyman insurance
  • Director/shareholder protection
  • Partnership protection
  • Business loan protection
  • Sole trader protection
    Whether you are a sole trader, partnership or Limited company Business protection is a vital safety net, and can take many forms, life and/or Critical Illness cover, Income protection, Key person or ‘Key Man’ insurance, And for Limited Companies, why not Let the Tax man pay for some of your life cover?
  • Keep the business trading
  • You can replace key individuals
  • Protect corporate debt
  • Buy out a shareholder if they become critically ill or buy their share from their estate if they die.
  • Critical protection is vital to allow businesses to recover quickly

Financial Protection

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Life Assurance

Life assurance offers valuable financial protection and peace of mind in the event of death, especially where you have a family dependant on you and/or your income. This could provide a lump sum or an income payable on death, over a specific term of years e.g. the term of your mortgage. Benefits payable could form part of your estate, if not written in trust and could be liable for inheritance tax, if the value of your estate is above a certain threshold. All policies will be subject to satisfactory medical underwriting. Life cover can be on a decreasing term basis, designed for protecting repayment mortgages which means the sum assured decreases in line with the reducing balance of the mortgage, over the mortgage term.

It is possible to have life insurance premiums on fixed monthly payments. This means for the term of the policy the payments will not change even if your health does.

Critical Illness Cover

Critical illness cover pays a tax free lump-sum benefit upon diagnosis of a critical illness or a critical condition. This can include heart attack, stroke, cancer and many more. A critical illness insurance pay out helps you avoid the financial strain a major illness can create, so you can focus on your recovery. The policy will also pay out if a policyholder becomes permanently disabled as a result of injury or illness.

The policies can be either on a decreasing or level term basis depending on the type of mortgage you have. We can talk you through all your options.

Level Term Assurance

Provides a guaranteed lump sum paid on the death of the life/lives assured, throughout the term of the policy. Premiums are level for the duration of the plan. This could provide an amount equal to that of a mortgage loan outstanding, e.g. interest only, a non-mortgage debt or liability.

Mortgage Protection

This policy is designed so that the amount of benefit payable would be sufficient to repay the amount of mortgage outstanding, throughout the mortgage term i.e. a capital and interest repayment mortgage. If you die during the policy term your insurer will pay the calculated amount of cover at that time.

Income Protection

Income Protection can make your life easier if cannot work due to sickness or injury. If you fell ill would you be able to survive on statutory sick pay? Could you afford to live of your savings?

The amount of income protection cover you need will be determined by your salary. Whether you are self employed or employed this type of insurance can be tailored to suit your individual needs.

Buildings and Contents Cover

If you have a mortgage, your lender will insist that your property (and their security) is protected by buildings insurance. It usually pays out if your property is destroyed by fire, floods or subsidence.
Contents Insurance covers the loss or damage of the contents of your home. Different policies offer different levels of cover.