Services

 

Our services include:

  • Home mortgages - buying and selling property requires many professionals doing many different jobs. Let us help to ease the pressure through good old fashioned service.

  • Buy to let mortgages - Buying a rental property has a number of legal differences than buying a house to live in. There are also important stamp duty land tax and other fees involved. And to top it off lenders typically need a higher deposit. You cant really sugar coat it. Buy to lets have up front costs which far outweigh buying your own home. Talk to us and find out how we can assist.

  • Remortgages This is the process of repaying an old mortgage with the proceeds of a new mortgage - we do this all the time and it is worth doing in the right circumstances. If you are considering your options either give us a call or try our mortgage calculator.  

  • Portable mortgages - taking your mortgage with you to a new home. If you are selling and buying we have access to mortgages that can go with you. For example if you take a fixed rate for 3 years you can sell your home and transfer the mortgage to a new home. Lets talk about it.  

  • Guarantor mortgages (bank of the family) - The bank of mum, dad, grandparents is becoming more popular as property prices increase. Let's talk about the options and the non options so you and the relatives fully understand how this works. 

  • Portfolio mortgages -(If you have many properties needing a mortgage restructure to better protect the owners or the trust or the company. Let's talk as the wrong structure is what you need to avoid. Bear in mind some third party advice is needed.

  • Bridging finance - is blanket finance over more than one property and is typically short term.

  • Help to Buy Scheme (using the government Help to Buy scheme 20%-40% deposit from government interest free for 5 years) After this interest is charged on the HtB mortgage. 

  • Shared ownership scheme (buying a percentage of a property and paying rent on the remainder)

  • Insurance for home, contents, life cover, protection of income, protection of mortgage payments. (only insurance which protect you and your family within your budget)

  • Conveyancing - Let us introduce you to amazing Solicitors who work diligently to provide a better service every time.

  • Surveyors - We can put you in touch with surveyors who provide in depth services to help you make an informed decision when buying a home*.

The legal stuff

Exclusive Financial a trading name of Christopher Bell who is an appointed representative of Openwork Ltd (compliance network) who are regulated by the Financial Conduct Authority.  Our advice is based on the circumstances and proof provided by you and other borrowers/guarantors.

*The service promoted here is not part of the Openwork offering and is offered in our own right. Openwork Limited accept no responsibility for this aspect of our business. This service is not regulated by the Financial Conduct Authority.

Think carefully before securing other debts against your property. Your property may be repossessed if you do not keep up repayments on your mortgage

Some buy to let mortgages and Bridging Finance are not regulated by the Financial Conduct Authority.

First home buyers

 

Buying your first home is always an exciting and nerve racking experience. Your first step on the property ladder is now accessible due to government schemes such as Help to Buy which offers a top up deposit of up to 20% to first time buyers of new build properties. This 20% (equity in the property) is to be repaid in 6 years time but note that 20% could be more at the end of 6 years because it is an equity loan, if equity increases for you it also increases for the government.
There are lenders offering 90%-95% loan to value (LTV). Give us a call and find out what you can borrow. 
Also try our calculator but remember the affordability calculator is an indication and your affordability could be more or less depending on tax and outgoings. 

Protection 

Granted this is not always an easy conversation. Protection and Insurance brings up topics people try to avoid as the reality of our mortality and loss of loved ones is part of the discussion.
Insurance is not there to hurt anyone. Rather it is there to protect you and your loved ones from financial stress whilst you try and put the pieces of your lives back together. 

These are some facts:
1 in 2 people will get Cancer, Over 1.6 million men and over 1 million women are living with Coronary Heart Disease and 2 million men and 900,000 women are living with chronic angina and these are just random numbers from a few common illnesses. There are many others which will affect everyone eventually. 
We look to recommend and advise on many types of cover to suit your stage in life and to provide peace of mind.
Normally it is affordable and works as a package with home, contents, mortgage and so on. Well worth exploring the options.

Remortgaging

Remortgaging is when you take advantage of better interest rates or terms for example: no early repayment fee or lower arrangement fees.

If you would like to look at the latest deals for remortgaging contact us and we will be able to do a detailed search based on your circumstances.

 

Remortgaging your property can be used to refinance some or all of your other outstanding debts as well although financial advice will be needed by our team to be considered within lending criteria. Possible higher repayments and the term of the mortgage will be discussed under debt consolidation rules.

 

Contact us and we will help you.

Buy to Let

 

Buying to let a property is not as simple as it once was and new tax relief laws and stamp duty requirements have created a tougher environment.
That said there are still good deals to be made although there are some changes in the way the property and mortgage and ownership is registered. Section 24 has taken away the availability for offsetting mortgage interest as an expense. What this means is that for you to still have the ability to do this you will need to set up a company at the outset and then you can claim the interest as usual. Ok it is a little technical and a bit more paperwork but after all it is a business and maybe it should run like one. 

Wills* and Family Trusts
Types of Mortgages 

Wills are quite simply the wishes of someone who passes away. The assets, where they wish to be laid to rest and other important details. It is imperative that everyone has a Will especially if you own a home. Exclusive Financial do not provide Wills directly but we will always point you in the direction of getting one as part of a full financial offering tying together the right package. 

A Trust is a separate entity which provides a trustworthy place for family assets to be deposited. One of the key reasons people prefer a Family trust is, instead of waiting for probate when someone passes away the funds are deposited in trust quickly. These assets are then protected and managed for the family now and for future generations. 
There are also tax benefits such as no Inheritance tax to be paid as it does not form part of an estate. 

There are literally thousands of mortgage products available.

Here are some of the types of mortgage products typically used.

Variable rate - this is a mortgage with a variable interest rate which can move up or down at the lenders discretion.

Fixed rate - A fixed rate mortgage is fixed for a set term and cannot go up or down during that term. There is usually an early repayment charge if you decide to repay the mortgage early.

Capped rate - this mortgage can go down but has a capped interest rate stopping it going above this rate. 

Tracker mortgage - This mortgage tracks the Bank of England base rate and goes up and down accordingly. 

Offset mortgage -  this mortgage offsets savings against their mortgage. It calculates the difference between the mortgage and savings to lower the overall interest charged. 

 

* The service promoted here is not part of the Openwork offering and is offered in our own right. Openwork Limited accept no responsibility for this aspect of our business. This service is not regulated by the Financial Conduct Authority.

Which mortgage advisors

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Mortgage Brokers based in Eltham, London , Mortgage services in London, Mortgages for buy to let in London, Free mortgage advice iin Eltham London England United Kingdom

 

First home buyers – mortgage hunting

 

  1. THE DEPOSIT
    A Deposit is the down payment on your property. It provides you with some equity and the knowledge that if you sold in a good market you would get that back minus any professional fees you pay. 

SAVING A DEPOSIT

Even if you have landed that high paying job and know you can afford large repayments, a deposit proves that you are not someone who spends everything they earn on lifestyle and also proves that you have the ability to save and not spend should things get a bit tight over the years.  

A savings vehicles that has been identified is the ‘Lifetime ISA’ which is a government backed scheme provided by some savings/investment providers allowing you to save £4000 a year and the government would add a bonus of £1000 (or 25% of your total savings for that year). You will need to be between 18-39 years old. The ISA can be a cash or stocks and shares ISA or a mixture of both. Lifetime ISA’s once opened can be deposited into until you turn 50 years old and withdrawals can only be made to purchase a house or if you turn 60 years or you have a terminal illness with less than 12 months to live. For further information https://www.gov.uk/lifetime-isa

Some of you deposit can be gifted by your parents and grandparents. Refer to this government website for gifting allowances https://www.gov.uk/inheritance-tax/gifts

  1. THE MORTGAGE HUNT

Finding the right mortgage advisor is probably the most important thing you will do before anything else when applying for a mortgage. This person is the go-to person before, during and after purchasing a house (they are typically not just for one transaction).

Firstly, consider where and who you are dealing with regarding the mortgage advice you are being provided with. Is it important that the mortgage advisor is not employed by the company selling the property? 
Is it important that the mortgage advisor has a range of different lenders and products? 

Is the mortgage advisor face to face, Over the phone or even web based?

Consider the products available on the market – so Bank or mortgage advisor?
Is it important that there is no conflict of interest when buying the property between you, the estate agent (who works for the seller) and  mortgage advisor? 
These are questions you need to consider because once you have a mortgage its long-term debt in most cases and is the mortgage advisor going to help service your requirements in the future?

Secondly (other help available)

So, once you have saved a deposit say 5-10% of a property you can apply for a mortgage with some sense of optimism. There are some lenders that will lend up to 100% but in exceptional circumstances.

The government also has another scheme called ‘Help to buy’ where the government provides you with an equity loan of 20% to 40% of a  property value. In London, say you find a property for £400,000 and you have £20,000 (5%) The government would lend you £160,000 interest free for 6 years and you would need a mortgage of £220,000. The Help to buy equity loan needs to be repaid in 6 years’ time, so remember this as it is not well communicated on government websites. 

Some lenders also provide family based mortgages which offer guarantor and secured deposit type mortgages (family offset mortgages) . Speak to your mortgage advisor who should be well versed in such products.

  1. PUTTING AN OFFER IN
    The next step is actually putting the offer in and seeing if it gets accepted. That’s up to you and what you can afford now you are approved for a mortgage (plus any scheme or family assistance you may have chosen).

  2. . Be sure to read about different types of property because there are types of property that lenders won’t lend on, or require higher deposits such as brick builds, property with structural issues, some ex council properties, some high-rise properties and short lease hold properties. Ask your mortgage broker if you are unsure because they can advise you whether there are lenders who can help. 

  3. CHOOSING PROFESSIONALS

  4.  You will need to choose a Conveyancing Solicitor to undertake water, land registry, chancel searches among many other types of checks involving all the legal aspects of transferring the ownership of a property from a seller to a buyer and registering the mortgagor’s interest in the property. 
    They also normally arrange the payment of stamp duty to HMRC after completion (when funds have been transferred and keys handed over) 

Note: Prices differ depending on the complexity of the property. 

CHARTERED SURVEYOR: This is purely your decision and is recommended. You are able to get a condition report to check that the property is in good order, a full property survey detailing some searches and a home buyers survey.