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Belmont Regency Ltd
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Mortgages

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The most suitable mortgage for you

As an Independent Financial Adviser authorised and regulated by the FCA we have full access to all the lenders. So whether you are an existing borrower or looking to purchase a new property then a phone call to us or simply emailing us your name and address could really save you money.

Taking out a mortgage is a pretty big step, whether you’re a first-time buyer, moving up the property ladder or investing in a buy to let. As one of the most sizeable loans you’ll ever take out, choosing the right type is essential.

First-time Buyers

  • As a first time buyer, the process of purchasing your first property can be daunting, we at Belmont Regency can provide advice and support not just on finding the right mortgage, but the whole process of purchasing your home.
  • There are many government schemes available to you as well from Help to Buy ISAs to Help To Buy Equity Loan Share Schemes to Life Time ISA’s. Our advisers can help and advise you on the schemes available on the most suitable options for you.

A help to Buy ISA

  • allows you to invest into an ISA and receive a government bonus of 25%.
  • You can invest a maximum on £1,200 into the ISA in your first month, and then a maximum of £200 per month thereafter.
  • The maximum government bonus you can receive is £3,000.
  • If you are purchasing as a couple, you can have a Help to Buy ISA each.
  • Is only available until 2019.
  • By incurring a Lifetime ISA Government withdrawal charge you may get back less than you paid in.
  • Saving in a Lifetime ISA may affect your entitlement to current and future means tested benefits.

The Government’s equity share loan scheme

  • allows first-time buyers to purchase an eligible property with as little as 5% deposit.
  • The Government will then contribute up to 20% of the property value, meaning you borrow 75% of the property value.
  • The Government’s contribution will be interest free for the first five years. From Year 6, you will be charged interest only starting at 1.75% and rising at a rate of RPI+1%.
  • You must pay the loan back within 25 years.
  • The amount you actually pay back will not be the amount of contribution you receive from the Government, but the percentage of equity that the Government lent you, i.e. if you take the full 20% contribution you will pay back 20% of the property value at the time of repayment.

Life time ISA’s

  • The Lifetime ISA is a new type of ISA that is designed to help you save for your first home or retirement at the same time.
  • You have to be aged 18-39 to open a Lifetime ISA.
  • You can save up to £4,000.00 each year and receive a 25% bonus up to £1,000 per year on your contributions.
  • You can use the money to help buy your first home or to help fund your retirement from the age of 60.
  • If you withdraw from your Lifetime ISA for any other reason, the government will apply a 25% tax charge unless you are terminally ill.

By incurring a Lifetime ISA Government withdrawal charge you may get back less than you paid in.

Saving in a Lifetime ISA may affect your entitlement to current and future means tested benefits.

House-buying process

  • Calculate out how much you can borrow use our mortgage calculator here. Add this to your deposit amount and this will give you a maximum property value
  • Find a property
  • Make an offer on a property that is accepted
  • Get a decision in principal
  • Make a full mortgage application
  • Receive a mortgage offer
  • ‘The legal bit’
  • Exchange contracts with the vendor
  • Complete and move in!

 

At Belmont Regency, we can guide you from day one throughout the whole process. From a fee-free meeting to discuss your needs, objectives and borrowing capacity, through to your moving in day. We will advise you on a suitable mortgage product, get a decision in principal, complete a full mortgage application with you, get you a mortgage offer, liaise with solicitors and offer support around your completion date. We can even get some buildings and contents cover put in place and some personal protection too! Quote buildings and contents or protection.

Re-mortgaging & capital raising

Our mortgage advisers can help you find the best deal when it comes to re-mortgaging. Whether this be a residential property or a buy to let property, speak to us to find the best deal available for you. Our whole of market access allows us to pick the best and suitable deal for you, and we will be there every step of the way until completion to help. We will also look at second charge lending for you as well, as this may be more suitable than a full re-mortgage. So, if you want to re-mortgage, why not visit our contact us page.

Second charge lending:

  • Your conventional mortgage takes a ‘first legal charge’ over your property, so the lender is first in line.
  • A second charge lender will be second in line

 

We can also advise on capital-raising options if you have equity in your property.

  • Debt consolidation
  • Home improvements
  • Onward purchases
  • Tax bills
  • Any legal purpose

Using a mortgage for debt consolidation purposes may mean securing previously unsecured debt against your home, the total amount of credit secured against your home will increase and the total amount of interest you will pay back over the long term may increase.

Purchases & Developing

At Belmont Regency, we have a wealth of knowledge when it comes to purchasing or developing properties. Whether you are purchasing a home for yourself, a buy to let property or want to step into the developing world, we can help.

  • Residential purchases
  • Buy to let purchases
  • Development finance
  • Auction finance

Our Charges

Our fee for mortgage advice is £395.00.

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Mortgage Calculator

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Your maximum borrowing amount is

£* *This is an indicative amount and may vary from lender to lender. You should not rely on this as an accurate figure of your maximum borrowing. This should be a starting point and you should seek advice to get a more accurate indication of your maximum borrowing amount. The calculator will calculate a maximum of 4.5 times income or 4.5 times joint income. Actual lender criteria may vary considerably. Your home may be repossessed if you do not keep up repayments on your mortgage.