13/07/2023
More mortgage rate increases this week, but... do they impact first time buyers as much as existing homeowners (if at all) and what opportunities do they bring to the table for FTB's?
Thoughts?
Hi, I'm Jon, The First Time Buyer Coach,here to simplify homebuying and get more FTB's on the ladder
More mortgage rate increases this week, but... do they impact first time buyers as much as existing homeowners (if at all) and what opportunities do they bring to the table for FTB's?
Thoughts?
18 year old should be paying into lifetime ISA’s NOT pensions if they want to own their own home.
100% mortgages are back for FTB’s. But what’s the qualifying criteria?
100% Mortgages available if:
You’re a FTB ✅
You’re over 21 ✅
You can evidence 12 consecutive months rental payments in the last 18 months ✅
You can evidence your ability to manage all household expenditure over the last year ✅
You’re NOT buying a new build flat ✅
Agree?
There’s so much pressure and so much stigma around home ownership in the U.K, and whilst owning your own home is for most one of life’s main goals, it’s not for everyone and with good cause.
Think about this, would the bed in which you sleep feel any less comfortable if you were in a rented property? Would the sofa be any less relaxing? Would the food you prepare in the kitchen be less appetising?
Owning your own home can have many advantages for most (NOT ALL) but shouldn’t come at the cost of your own lifestyle.
It’s all too often now that banks and most mortgage brokers are so fixated with talking about how much you could borrow and how they could get you the most money, and whilst that may sound great initially, it fails to take into consideration ALL of your life goals and plans. For example, do you want to go on holiday every year? Or, do you want the freedom to eat out when you want to?
Mortgage affordability calculators are there to show you what the lender will likely lend to you based on your income and expenditure and use up your disposable income to do this. They do NOT take into consideration how much you WANT to spend on the payments each month.
So…when planning to buy your first home, it is important to factor your own life plans into your budgeting to ensure that you can achieve your home ownership goals without sacrificing your lifestyle.
That way, you don’t have to wait until you’re well into your 60’s to start living.
Good morning all, who’s ready to make it happen?
FREE ELIGIBILITY CHECK
100% Mortgages are back! FTB's in rented, you've been asking for it for ages...and now its here. A new mortgage product available exclusively for First Time Buyers who are renting, that takes into account the rent you have been paying.
If you want to find out if you are eligible for this new product and want to see if you could get out of the rental cycle and into your own home I have just set up an dedicated FTB eligibility appointment call to do just this.
Simply click on the booking link below and book a 30 min call with me and by the end of it, you will know if you qualify for this and how much you may be able to borrow.
https://calendly.com/davisfinancialsolutions/100-ftb-mortgage-eligibility-check
Morning FTB Family...so as you may have heard 100% Mortgages are back and exclusive for you folks. I am finalising a FTB factsheet with tons of information about this at the moment, if you want one, comment below and I will get this sent to you as soon as its ready.
In the meantime a few key points for you are:
*Specifically designed for those currently renting
*You must be able to show a track record of maintaining rent and household expenditure for a min of 12 months, in the last 18 months.
*The mortgage payment must be equal to, or lower than the average rental payment over the last 6 months.
*Maximum of 4.49% income
*Credit profile will need to be immaculate with no missed payments
*Affordability still needs to be assessed with income and expenditure and not just rental payments.
*The criteria is pretty strcit for this, and although it wont work for everyone it will work for those it does (obviously lol)
If you want to know if you might qualify for this, this can be done within 15 mins. Drop me a message for more.
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