At Solution Mortgages, we have a new facility available which may benefit you if you were looking to raise finance but have been turned down for a remortgage or secured loan. Available through Solution Mortgages, loans are available as follows:- Loans available between £7,500.00 – £18,000.00 Employed / Self-Employed & Contract Workers accepted Mortgage Arrears Accepted Homeowners only No Equity…
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Equity Release
Equity release is a growing market with an 11% rise in this type of lending form 2006 to 2007. The market could potentially double by 2010. The sale of Northern Rock's £2bn equity release portfolio to J P Morgan shows the demand for these assets are high. The market is set for long term growth, both from lifetime mortgages and…
Buy to Let
Demand for buy to let mortgages from landlords appears to remain strong. Many landlords have no intention of selling their property. In fact in a recent survey by The Association of Residential Letting Agents (ARLA), 40% said they would continue investing in 2008. The survey had been carried out after the liquidity crisis had begun and therefore those questioned had…
Mortgage market
Following the continued turmoil in the credit markets the mortgage market continues to struggle on and although business has slowed the market is not closed for business. The number of approvals for house purchases has dropped to the lowest number since the 2004/05 slowdown in the housing market. The slowdown then followed a series of interest rate hikes by the…
Debt delinquency
With the effects of the credit crunch still in our midst there is a likelihood of rising debt delinquency in the UK, both in mortgages and in personal debts. The latest mortgage arrears data for the first half of 2008 has not recorded a marked increase yet, but evidence suggests that more homeowners have fallen behind with their payments since…
Sub prime
The impact of the liquidity crisis is still being felt hardest in the sub prime sector. The sub prime and self cert sector in the UK accounts for around 9% of the mortgage market and this looks likely to shrink. The current premium interest rates are likely to remain for sub prime borrowers for some time. Currently rates are ranging…
Completion ratios are higher at Solution Mortgages
The credit crunch has led to an improvement in application to offer ratio's at Solution Mortgages. Although the credit crunch has had a noticeable effect on business levels, it has meant that staff have more time to devote to each case they handle and therefore ensure applications were packaged to the highest standards. This has also been the case in…
Mortgages
Getting your first step on the property ladder can be the most daunting thing a person ever does. With Solution Mortgages we can make life simpler and help make those steps a little easier. We provide a range of mortgage options for clients and cater for:- First Time buyers Self Certification Buy to let Right to Buy Credit impaired Commercial…
Motor insurance
Solution Mortgages can now offer you motor insurance through Autonet Insurance Group. This cover's bike, car and van insurance. Autonet are one of the country's largest independently owned insurance brokers and have formed excellent relationships with many of the UK's leading insurance companies. Every policy is individually tailored to match the requirements of the policyholder. As you input your information…
IVA
An IVA (individual voluntary arrangement is a debt solution for consumers who have unmanageable debts and who want to avoid bankruptcy. An IVA is regulated by the Insolvency Act and can only be set up by a licensed insolvency practitioner. An IVA is available to borrowers who can not repay their unsecured debts within a reasonable time frame, usually 8…