Mortgages are at the very heart of a modern property-owning society. Whether they are being used for the purchase of your home, a holiday property or by way of a business investment (e.g. buy to let), your mortgage may be critically important in living life the way you wish to.
What is the service?
Many people might be unable to afford property purchase unless they were somehow able to borrow money to help them do so. That is why mortgages exist. However, a mortgage is also an important financial commitment and one that typically runs over the medium to long-term (anything from 15-35 years is typical). It is imperative that you have the help of expert mortgage practitioners, such as ourselves at Aventur Wealth, if you are to find some of the more suitable deals that might be out there in the marketplace.
Why you may need it
Trying to get a mortgage without expert advice could see you apply for mortgages where you do not meet certain criteria, or you are applying for a deal that is not the most suitable one for you. This could see you rejected for a home loan, which could affect your credit report, having the snowball effect of other lenders then rejecting you too. At Aventur Wealth, we work with mortgage lenders on a daily basis, and we know and understand their scoring systems and the financial status of who they lend to. This means that we can match you with a lender who is the most likely to approve your application, saving you time, money and stress!
How does it work?
All mortgages involve borrowing. The basic process is always relatively simple:
speaking with a provider or expert adviser in order to work out just how much you might be able to borrow. Many things might affect that final figure including how much of your own money you have available, your overall financial status (i.e. how much you can afford to borrow) plus the realistic valuation of the properties you’re considering;
finding a suitable property;
finalising your offer with the vendors though at that stage it will remain legally subject to contract – something that includes the final availability of a mortgage to help you pay the agreed sum;
requesting the completion of your loan application. That will involve your chosen lender looking at the exact figures and the property concerned – for example taking into account any structural surveys and so on;
eventually, drawing down any sums agreed – something that will typically be completed by your solicitor in conjunction with your loan provider.
Whilst at one time obtaining a mortgage may have been considered to be relatively routine and a formality, today it can be more demanding. Matching an individual’s requirements against the product and market positioning of a given mortgage provider is critically important.
In reality, there are many different mortgages designed for different borrowing requirements, they include:
buy-to-let mortgages (sometimes also referred to as Landlords’ mortgages);
first-time buyers loans;
Some of these may sub-divide further, as for example might be the case if you’re looking for property portfolio mortgages. Inevitably, the criteria for acceptance may vary not only between product type but also depending upon your individual requirements and individual providers’ propositions.
Repayment or interest only?
There are also different mortgage repayment methods:
Repayment mortgages – this is where the total loan amount and any interest is paid off over the term of the mortgage. At the end of the mortgage period, your whole debt is clear and there is nothing left to pay;
Interest only mortgages – this is where you pay off the interest on the loan (so you are paying less each month than if you had a repayment mortgage). At the end of the mortgage term, you will still have to repay the capital – ie the original loan amount. That may mean you will need to have some sort of savings plan or investment vehicle running alongside the mortgage, in order to repay the capital.
We appreciate that knowing which mortgage is the most suitable one for you can be a bit confusing, hence why we will explain all your options in plain language.
Mortgages are an integral and fundamental part of 21st century financial life. However, it’s easy to get things wrong if you’re unaware of the options available to you – and that might prove to be an expensive mistake. At Aventur Wealth, we can draw on our many years’ experience within the mortgage marketplace, to find you the most appropriate solution.
If you are looking for a mortgage, especially £500k +, to fund a residential or commercial property purchase or refinance an existing arrangement, you need the support of a specialist broker. Someone who is independent, not just looking on the high street. We specialise in arranging mortgages in the UK, offering a bespoke service for high net worth individuals. Working together with tax and currency experts, we actively manage your mortgage with the aim of helping to reduce the amount you repay. We have developed extensive links to private banks, niche lenders and private investors, all of whom have an appetite for larger and more complex loans. We start by understanding your overall financial and lifestyle goals, whether business or personal. Then we use our expertise and experience of the market to create a bespoke solution, to suit your own unique situation. Whatever support you might need, whatever questions you might have, our team of fully-qualified mortgage advisers are here to help.
We have a wide range of clients: foreign nationals living abroad, British expats living abroad, UK residents earning in foreign currencies, ‘Non-domiciled’ UK residents (for tax reasons) with offshore or overseas income and wealthy people, looking for tax-efficient solutions like currency mortgages.* We understand the importance of protecting your privacy when arranging your finance; confidentiality is assured at all times. We are available to speak to you at very short notice, via phone or web chat to fit in with your lifestyle.
*Changes in the exchange rate may increase the sterling equivalent of your debt
RESIDENTIAL MORTGAGES Looking to buy a luxury home, right here in the UK? On top of finding you the best rates, we can find you a mortgage with flexible features like payment holidays, overpayment, underpayment, or the option to borrow back money you’ve already repaid.
BUY TO LET MORTGAGES Looking to let? Whether you’re trying to find your first buy to let mortgage, or refinance your existing property portfolio, we can help you find the right mortgage. We’ll work out what makes the most sense for your investment.
COMMERCIAL MORTGAGES Buying for business? Whether you’re looking to expand your own business, or go into property development, we’ve got substantial experience arranging mortgages for businesses and wealthy people. Our relationships with specialist lenders mean we can arrange mezzanine finance, for property development.
OVERSEAS MORTGAGES Buying abroad? We can arrange finance across Europe, as well as the Caribbean and the US. Depending on what suits you best, we can arrange funding in the country and currency you’re buying in, or right here in the UK.
MULTI-CURRENCY MORTGAGES In addition to Sterling mortgages we can also arrange foreign currency mortgages for our clients who are buying UK property.
A typical mortgage set up fee of £249.00 of the mortgage amount is payable. The total fee is non refundable. We may also be paid commission from the lender. The guidance and/or advice contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK. Calls may be recorded for training and monitoring.
You may have to pay an early repayment charge to your existing lender if you remortgage.