Armed forces covenant bronze award

EMPLOYER RECOGNITION SCHEME BRONZE AWARD

By | british army, finance, First Time Buyer, housing, life insurance, mortgage, News - Blog, remortgage | No Comments

Mortgage Squared Ltd is proud to announce that we have received the Armed Forces Covenant Employer Recognition Scheme Bronze Award. We recognise the value Serving Personnel, both Regular and Reservists, Veterans and military families contribute to our business and our country.

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#sbs winners

Mortgage Squared win Theo Paphitis award #SBS

By | finance, housing, mortgage, News - Blog | No Comments

We have a very exciting announcement, we won Small Business Sunday #SBS!! We are overwhelmed with the comments and lovely feedback we’ve had, on our Twitter account @MortgageSquared thank you so much.

If you’re not sure what I’m talking about, I’ll explain…

Theo Paphitis is one of the former dragons from TV show Dragons Den, and he created Small Business Sunday, shortened to hashtag #SBS on Twitter, in 2010.

Next month we will be going along to Theo’s SBS winners’ event in Birmingham to meet the high profile businessman.  The event is held yearly for the 0.68% of applicants who win the accolade.

You can now find Mortgage squared listed on the winner’s directory

https://www.theopaphitissbs.com/profile/2409/Mortgage-Squared-Ltd

 

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monopoly hotels on money

The incentive to remortgage is at its highest since 2008!

By | mortgage, remortgage | No Comments

The savings available to mortgage holders by remortgaging have reached their highest level in eleven years, according to analysis.

Homeowners could save over £3,000 a year by securing a brand new fixed rate mortgage deal instead of staying on their current lender’s standard variable rate (SVR), as explained in the most recent Moneyfacts UK Mortgage Trends Report.

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mortgage insurance hands protecting tree from lightning bolts

Insurance! How to protect your mortgage?

By | Critical illness, finance, First Time Buyer, housing, life insurance, mortgage, remortgage, self employed | No Comments

Your mortgage is likely to be the biggest expense you will face in life, but what happens if you can no longer pay it? Here are the types of insurance that can help you pay your mortgage.

What do you need?

There are four types of insurance you should consider when taking out a mortgage:

  • Life insurance: To cover the cost of paying off your mortgage, if you die before it is paid off.
  • Critical illness cover: To help cover the cost of paying off your mortgage if you get diagnosed with a life changing condition.
  • Income protection: To help cover your mortgage payments each month if you are unable to work due to an accident, sickness or redundancy.

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What is your credit score with mortgage sqaured

How to improve your credit score

By | finance, First Time Buyer, housing, mortgage, News - Blog, remortgage | No Comments

When you apply for a mortgage, one of the first things lenders will want to check is how you have managed any borrowing in the past, they do this by looking at your credit score.

Your score is essentially a number that represents your credit history. When calculating this score, many factors are considered, including whether you make monthly payments on time, how much of your available credit you are using, and what your total debts are. 

The higher your credit score, the lower risk you are considered to be by lenders, which means any mortgage application you make is more likely to be accepted. Conversely, the lower your score the higher the risk lenders will consider you, which means they may be wary about offering you a mortgage.

Is your credit score lower than you expected? The good news is that there are plenty of things you can do to improve it and boost your chances of having your mortgage application accepted. Here are our top tips.

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contractor mortgages

How can I get a mortgage as a contractor

By | finance, First Time Buyer, housing, mortgage, News - Blog, remortgage, self employed | No Comments

The UK mortgage market is expanding it’s offering for contractor workers, making it potentially easier for those in the demographic to get property finance. Here, we look at the definition of a contract worker, income assessment, how much contractors can borrow and what specialist advice is available.

WHAT IS A CONTRACTOR MORTGAGE?

A contractor mortgage is a loan against a property for a professional who operates via their own limited company, and are not employees of a larger business. A contract worker is not in formal employment but work via an agreed contract for a specified period of time, making them self-employed specialists.

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remortgage, remortgaging

REMORTGAGING EXPLAINED

By | finance, housing, mortgage, News - Blog, remortgage | No Comments

Despite the Bank of England raising the base rate to 0.75% in August 2018. The remortgage market continues to grow, with rates remaining competitive among lenders. However, these rates may not last much longer. With the Term Funding Scheme (TFS) ending in February 2018, the supply of cheap funding for lenders will soon finish.  All 9 of the Bank of England Monetary Policy Committee voted to keep the base rate at 0.75% in September, things look to be settled for the near future.

This makes now an appropriate time to consider reviewing your financial circumstances. You may find that you can reduce your monthly mortgage repayments by remortgaging and potentially secure yourself a cheaper mortgage product ahead of a speculated rate rise.

In this blog, we answer some of the crucial questions that you may have about remortgaging and how to get the best deal suited to your needs and circumstances.

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remortgaging, mortgage, remortgage, buy to let, first time buyer, mortgage calculator

Remortgaging volumes hit record high

By | finance, housing, mortgage, News - Blog | No Comments

Remortgaging volumes hit an eight-year high in July, conveyancing service provider, LMS has found.

But while transaction levels hit their highest point since September 2009 on a 12-month rolling average, Remortgaging volumes remain some way off their pre-crash highs.

Loan amounts are also on the up, reaching an all-time high of £171,421 in July.  Read our blog post ‘How much can I borrow for a mortgage?Read More

Help to buy Equity Loan

What is Help to buy equity loan!

By | finance, First Time Buyer, housing, mortgage, News - Blog | No Comments

What is Help to Buy and how does it work?

The popular Government-funded Help to Buy Equity Loan is available until 2021, so you can find your new home with just a 5% deposit. With competitive mortgage rates available, now really is a great time to buy. Read More

renters first time buyers mortgage

Renters spend £1.1m more than buyers in their lifetime, research finds

By | finance, mortgage, News - Blog | No Comments

Following the European model of being lifetime renters is all very well, but you’ll pay through the nose for a lifetime of renting.

So you want to buy a home? You’re in a shrinking majority.  The gap between those that own and those that may never be able to is getting bigger.

Of the 17 million renters in the UK, more than two-thirds now have no plans or may not be able to purchase a property in their lifetime.

A third of Brits are currently renting the home they live in, and official statistics place the UK ahead of only Denmark, Austria, and Germany.  Some of the world’s wealthiest countries – in terms of the proportion of owner-occupied homes across Europe.

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Mortgage Squared is a trading style of Closer Financial Partners who are Appointed Representatives of Julian Harris Financial Consultants, authorised and regulated by the Financial Conduct Authority No. 153566