introducing steve mears – independent financial advisor the money man
“ Following an amazingly busy start to the year, I think it is becoming clear that getting a mortgage on your own is still not an easy task. We are constantly speaking with clients who have been turned down by their own Bank. Adding value… This is even more prevalent when clients are trying to buy at auction, and we have therefore been looking at lenders who are both innovative and keen to lend. Luckily, we have been able to help in most cases, even with short notice, and with some of the properties not being ‘habitable’ and needing refurbishment or renovation. The latest product to catch my eye is from Aldermore, and it’s called the ‘Bridge to Term’ product. This combines Bridging Loan to get you the property and then, once work is carried out, can be converted to a Buy to Let or even a Commercial Loan. In some cases, you can even capital raise based on the enhanced property valuation, allowing you to get back some of the funds initially put in. Terms for the bridging element vary from 1–18 months, which should accommodate most properties. We are lucky enough to have an Aldermore representative on hand tonight to help answer questions, and also any of our advisers will be happy to chat through your requirements. We deal with many other providers as every client has different requirements and therefore this product will not suit everyone. My message, as usual, is to obtain an agreement in principle BEFORE you find a property, as a lot of paperwork is needed and therefore takes longer than it used to, and you need to be ahead of the game. Many agents now ask for copy of your certificate before they will confirm an offer to their vendor, which is fair enough. Also, don’t despair if your own bank turns you down, call us and we will look at the whole market for you and can usually come up with a “cunning plan”! Happy bidding.
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” to contact Steve, email info@stevemears.com , telephone 0117 973 4300 or to find out more about Steve Mears Independent, visit www.stevemears.com “ Please remember Your home may be repossessed if you do not keep up repayments on your mortgage.
” …you need to be ahead of the game…
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