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Services Quick Mortgage Chat 15 minutes Book Now Arrange an AIP 30 minutes Book Now Application 60 minutes Book Now Need more help? Phone 07899 755157 Email email@example.com Connect
- Ray Williamson | RMR Finance Ltd.
- Advice for Home Movers | RMR Finance Ltd.
Home Movers This might not be your first rodeo, but the housing market changes all the time. See our guide below for the most up-to-date advice when moving home. Can't find what you are looking for? Click here to get in touch and Ray or Leonie will get back to you as soon as possible. Can I just transfer my current mortgage? Potentially. This is called 'porting' your mortgage and it is where you take your current mortgage to a new property and add on any extra funds that you need. However, not all mortgages will allow you to do this so you will need to check your current mortgage terms and conditions. Book Advice Appointment What documents do I need? What are the different types of mortgages? Mortgages can be broken down into different types depending on WHAT you pay back and HOW you pay it back. The three main types of mortgages are: Fixed rate Tracker rate Variable rate Of course there are other mortgage options on the market, but these will generally be the most relevant to first-time buyers. As always, not all options will be available to you depending on your circumstances. The best thing to do is speak to a broker beforehand who will know the lender's criteria and will be able to place you with someone suitable. Book Advice Appointment CREDIT REPORT - Experian - Equifax We recommend using Checkmyfile.com as it is the most comprehensive credit agency – you will be amazed what the banks can find out about you! Checking here first will help you understand what they will see. PROOF OF DEPOSIT - Bank/savings account statement - Stocks and shares statement - Gift letter plus bank statement - Certificate from executors (for inheritance) PHOTOGRAPHIC IDENTIFICATION - Passport - Driving license (with the correct details on them!) BANK STATEMENTS 3 to 6 months worth - To prove expenditure and affordability PROOF OF ADDRESS - Bank/credit card statement - Utility or council tax bill - Driving license (if not used for photo) PROOF OF INCOME - Payslips (minimum 3 months) If employed - SA302/tax year overview (1-3 years) if self-employed. Need more help? Phone 07899 755157 Email firstname.lastname@example.org Connect
- Terms & Conditions | RMR Finance Ltd.
- Remortgage Guide | RMR Finance Ltd.
Remortgage Guide People often get overwhelmed with the paperwork required for a remortgage, but we are here to help reduce that workload. Some of the most common remortgage queries are answered below. Can't find what you are looking for? Click here to get in touch, and Ray or Leonie will get back to you as soon as possible. Need more help? Phone 07899 755157 Email email@example.com Connect
- Buy-to-Let Advice | RMR Finance Ltd.
Buy-to-Let Whether you already have a property portfolio, or you are looking to rent your property for the first time, it is worth asking a broker for the most current information. Buy-to-Let advice is not regulated by the Financial Conduct Authority. How much can I borrow? Buy-to-Let mortgages usually require a higher deposit than a standard residential mortgage. Sometimes you may not be able to access shorter term products or higher loan to value products. The criteria for Buy-to-Let mortgages is constantly changing so book a free advice chat to make sure you are up-to-date. Book Advice Appointment CREDIT REPORT - Experian - Equifax We recommend using Checkmyfile.com as it is the most comprehensive credit agency – you will be amazed what the banks can find out about you! Checking here first will help you understand what they will see. PROOF OF DEPOSIT - Bank/savings account statement - Stocks and shares statement - Gift letter plus bank statement - Certificate from executors (for inheritance) What documents do I need? PHOTOGRAPHIC IDENTIFICATION - Passport - Driving license (with the correct details on them!) BANK STATEMENTS 3 to 6 months worth - To prove expenditure and affordability PROOF OF ADDRESS - Bank/credit card statement - Utility or council tax bill - Driving license (if not used for photo) PROOF OF INCOME - Payslips (minimum 3 months) If employed - SA302/tax year overview (1-3 years) if self-employed. Need more help? Phone 07899 755157 Email firstname.lastname@example.org Connect
- Equity Release Advice | RMR Finance Ltd.
Equity Release Equity release refers to a range of products letting you access the equity or cash tied up in your home without you having to sell. You can take the money you release as a lump sum or in instalments, so it is like using your property as a pension. The schemes are aimed at mature people, over the age of at least 55 years old. In the past there were schemes where people ended up owing more than the value of the house but this is no longer the case and the schemes are more regulated than ever. Ray Williamson has been qualified in equity release since 2022. Can't find what you are looking for? Click here to get in touch and Ray or Leonie will get back to you as soon as possible. Am I eligible for equity release? To be eligible for equity release: All applicants must be aged 55 years or older You must own a home worth more than £70,000 You do not need to be mortgage free, but you must pay off your remaining mortgage with the funds released. However, equity release is not suitable for everyone. Talk to us today to see if it is the best option for you and your family. THIS IS A LIFETIME MORTGAGE. TO UNDERSTAND THE FEATURES AND RISKS, ASK FOR A PERSONALISED ILLUSTRATION. Book Advice Appointment Will I still own my home? Yes, your home is still yours. A lifetime mortgage is a loan which is secured against your home. You can choose between taking your tax-free cash in one lump sum or have it available to drawdown as and when you need it following an initial, smaller, lump sum release. With a drawdown plan, you only pay interest on the money released. The loan (and any interest) is repaid when the plan ends. That’s usually when the last remaining applicant either passes away or enters long term residential care. Does it mean my family does not get any inheritance? Not necessarily. Depending on the plan you choose, some allow for a certain percentage to be left to family members. When you speak to us, we can advise which plans best suit your goals. In the past people were sold products that meant they ended up owing more money than the property was worth, however this is no longer the case. All of the Equity Release products we have access to have a ‘No Negative Equity Guarantee’ which means your family can now be assured that they will get some inheritance and not a debt. Book Advice Appointment What happens if I want to move home or have to go into care? All plans that meet the Equity Release Council’s standards allow you to transfer your plan to a new home, as long as it provides enough security. A provider may rule out age-restricted or leasehold retirement housing. If you need to go into permanent residential care, you will usually repay the loan by selling the property. Need more help? Phone 07899 755157 Email email@example.com Connect
- Ways to Manage Increased Monthly Payments | RMR Finance Ltd.
Ways to Manage Higher Monthly Mortgage Repayments No doubt you will have seen in the news that mortgage rates are increasing. This is making many people nervous about their future repayments and affordability. We've created a short guide listing some ways to help you manage increased mortgage costs. Like most things, it's better to get in touch to discuss your concerns rather than waiting, and hoping rates will come down. Click here to get in touch and Ray or Leonie will get back to you as soon as possible. Need more help? Phone 07899 755157 Email firstname.lastname@example.org Connect
- FAQs | RMR Finance Ltd.
Frequently Asked Questions I know how hard it can be to secure a mortgage, which is why I want to provide you with the best information and resources at all times. Below you’ll find answers to some of the questions I get asked the most. Still have a question? Feel free to get in touch with me using the 'Contact Us' page. How much can I borrow? This is by far the most common question I get - and not just from first-time buyers! It is much more complicated than some people think, each bank will assess overtime, commission or bonuses differently. Some banks will be much harsher on anything you have on finance. I always say get in touch and we can have a chat about this to get you a definite answer. I used an online calculator - why did I fail an AIP? Online calculators are not always accurate as you have to also know the lender's policies. Not all banks accept bonuses or overtime so you could enter it in and think you can borrow much more than they would actually lend. Please get in touch and we can cover all of the market rather than checking every calculator out there. Would interest only be better for my residential property? In nearly all cases NO! Many banks would not even lend on interest only and over 35 years you would expect to pay twice as much interest. On interest only you would expect to have around £25,000 less equity in your property after 5 years compared to a repayment mortgage. (National average figures used). Why do I need a mortgage broker when I could just apply online myself? Moving is a stressful thing and your mortgage broker should be there to help you all the way through. I would look through each lender to find who would lend the most, who is offering the cheapest deal and which lender out of almost 100 would be best for you. I would then do the application and deal with the bank as the application progresses, currently mortgage applications are taking around 3 weeks, have you got enough time to do all of that yourself? Also I deal with estate agents, solicitors and surveys everyday so I can assist and help on all of these points to try and keep your stress levels to a minimum. Which is the best lender? This answer is different for each customer, I have used 14 different banks in the last 3 months and each time the bank was the best for that person’s circumstances so it is impossible to say that one lender is the best. How often do interest rates change? At the moment, almost daily. It really is that quick moving currently, if you are offered a deal today then it could easily have changed within a matter of days and in the last 6 months they have only moved upwards so it is a difficult time for people looking to buy. We can reserve an interest rate for you for 2 months – please ask so I can explain how this works, there is no commitment on your part but means you have that rate guaranteed for the 60 days. Can I borrow 90% plus stamp duty or refurb costs? Unfortunately not. It is always worth discussing but in general this will not be an option. Need more help? Phone 07899 755157 Email email@example.com Connect
- Remortgages | RMR Finance Ltd.
Remortgages Whether your current fixed rate is coming to an end, you are looking to swap to a better deal, or you want to release some money to consolidate debts, these are just some of the reasons why you may want to remortgage. People often get overwhelmed with the paperwork required for a remortgage, but we are here to help reduce that workload. Can't find what you are looking for? Click here to get in touch and Ray or Leonie will get back to you as soon as possible. Can't I just stay with my current lender? Yes, you absolutely can! This is called a Product Switch or Product Transfer. Whilst you may wish to stay with your current lender to avoid some of the costs associated with remortgaging (survey and solicitor fees), you may find you can get a better overall deal by transferring to a different lender. A broker can advise what will work out best for your personal circumstances. Book Advice Appointment When should I arrange my remortgage? Generally you should look to start the remortgage process around three to six months before your current fixed deal ends. Some lenders will let you reserve a product for up to 90 days before having to complete a full application, so it may be worth speaking to a broker a little bit before this.If rates come down before your remortgage is due to complete, we can apply for another deal if time allows. There is certain paperwork that needs to be completed if you transfer to another lender and it is important to allow time to get this completed. If you don't complete on your remortgage before your current fixed deal ends, your lender will place you on their Standard Variable Rate (SVR) and your mortgage payments are likely to go up. I'm sure I didn't have to do all this paperwork last time! This may have been because you did a Product Transfer with your existing lender where not as much paperwork is required. It may seem overwhelming at first, but the paperwork is generally quite straightforward. Plus, we are here to help you every step of the way! You will need to complete: A Remortgage Questionnaire, which can be completed on line or posted A Customer Declaration, which must be printed, signed and returned by post A Digital Mortgage Deed with the Land Registry online, or a Paper Mortgage Deed if your case is not eligible for this service. An Occupiers Consent form if anybody lives at the property who is older than 17 years old and is not named on the mortgage. For further guidance on remortgages, please click here. PHOTOGRAPHIC IDENTIFICATION - Passport - Driving license (with the correct details on them!) BANK STATEMENTS 3 to 6 months worth - To prove expenditure and affordability PROOF OF ADDRESS - Bank/credit card statement - Utility or council tax bill - Driving license (if not used for photo) PROOF OF INCOME - Payslips (minimum 3 months) If employed - SA302/tax year overview (1-3 years) if self-employed CREDIT REPORT - Experian - Equifax We recommend using Checkmyfile.com as it is the most comprehensive credit agency – you will be amazed what the banks can find out about you! Checking here first will help you understand what they will see. What documents do I need? Sometimes lenders do not ask for all of these things, particularly if you already hold an account with them. When we arrange your remortgage we can advise on the exact documents needed. Can I remortgage early? You may wish to remortgage early if you want to lock in a cheaper deal, or if your circumstances change. Whilst there is nothing stopping you from doing this, it is worth checking if you have an Early Redemption Charge or an exit fee. Contact us and we can discuss the potential cost implications as well as the savings. Book Advice Appointment Need more help? Phone 07899 755157 Email firstname.lastname@example.org Connect
- Advice for First-Time Buyers | RMR Finance Ltd.
First-Time Buyers Buying you first home is exciting, but it can also be a little daunting. Once the euphoria wears off of finding your perfect first home, you will probably have more questions than answers. Don't worry, we're here to help. Some of the most common first-time buyer questions are answered below. Can't find what you are looking for? Click here to get in touch and Ray or Leonie will get back to you as soon as possible. What is the process for buying a property in England? There are nine main steps to buying a property in England. Most mortgage brokers would help you with two of these stages (some might help you with three). Here at RMR Finance we would help you with eight of the stages - advising, recommending solutions and then chasing people on your behalf throughout your purchase. What's the one stage we don’t help with?? Saving your deposit! Save up your deposit Get your paperwork and finances in order Speak to a mortgage broker Find a property and get your offer accepted Arrange your mortgage Instruct a conveyancer Survey Exchange of contracts Completion For a more detailed explanation, click here to check out our First-Time Buyers Guide. What are the different types of mortgages? Mortgages can be broken down into different types depending on WHAT you pay back and HOW you pay it back. The three main types of mortgages are: Fixed rate Tracker rate Variable rate Of course there are other mortgage options on the market, but these will generally be the most relevant to first-time buyers. As always, not all options will be available to you depending on your circumstances. The best thing to do is speak to a broker beforehand who will know the lender's criteria and will be able to place you with someone suitable. For more information on types of mortgages, click here to go to our First-Time Buyer's Guide. PHOTOGRAPHIC IDENTIFICATION - Passport - Driving license (with the correct details on them!) BANK STATEMENTS 3 to 6 months worth - To prove expenditure and affordability PROOF OF ADDRESS - Bank/credit card statement - Utility or council tax bill - Driving license (if not used for photo) PROOF OF INCOME - Payslips (minimum 3 months) If employed - SA302/tax year overview (1-3 years) if self-employed CREDIT REPORT - Experian - Equifax We recommend using Checkmyfile.com as it is the most comprehensive credit agency – you will be amazed what the banks can find out about you! Checking here first will help you understand what they will see. PROOF OF DEPOSIT - Bank/savings account statement - Stocks and shares statement - Gift letter plus bank statement - Certificate from executors (for inheritance) What documents do I need? Need more help? Phone 07899 755157 Email email@example.com Connect