Thinking of selling your home?
If you’re thinking of selling, your home, you may be planning to buy or refinance another property. Here are some points you may wish to consider.
If you have a mortgage on your property already, you may want to consider porting your mortgage to the new property to avoid paying an early repayment charge. This can save you thousands of pounds.
Perhaps you’re planning to move in with a partner. If they already own their property you may want to consider a remortgage with transfer of equity so, that you are also an owner of that property rather than simply living there.
If you’re not looking to buy or own a new property, you may want to consider keeping your existing home as a rental property. This could allow you to retain the property, whilst somebody else pays the mortgage and you can stay on the housing ladder. That way if the market goes up, you can benefit from the rise.
Perhaps you’re selling because you think the housing market may take a downturn and you don’t want to lose money by keeping a property you don’t need.
If you have bought the house with a scheme such as help to buy or a shared ownership you may benefit from having a chat with a mortgage adviser to see what impact this will have.
Whatever the rationale, it’s usually worth talking about it with an adviser who may be able to suggest some other options you may not have considered. They will also be able to give you an idea of your mortgage capacity and borrowing potential. They may also be able to help find a potential pitfall or complication that may be fixable.
This is why it’s best to speak to an experienced adviser at the earliest opportunity so you’re as prepared as you can be. Whilst an existing lender will be able to give you their options, an ‘Independent Adviser’ will be able to offer multiple options. A ‘Whole of Market’ adviser will be able to consider the most options. Whilst many advisers charge an arrangement fee, there are those that do not.
We recommend IFO Financial Options. They are Independent, Whole of Market and do not charge fees for arranging mortgages. All mortgage advisers are paid by the lender. Some also charge you – the mortgagor, thereby being paid twice. IFO Financial Options do not charge you.
Don’t pay a fee for something they’ll do for free.
Their phone number is 01757 709888 or you can email them at admin@ifo.co.uk or visit their website at www.ifo.co.uk
Their address is the same as ours, 24 Finkle Street, Selby, YO8 4DS.
They are true independent, whole of market advisers and by not charging, they could save you a lot of money. You’ll typically save at least £500 just on the arrangement fee that most advisers charge.
Don’t pay the price, get independent advice!
Or, you can click here and they will contact you.