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May 17th, 2018

We’re hiring!

Full-time Mortgage & Insurance Administrator

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From 10th May 2018, LV introduces new rates for their Lifetime Mortgage Lump Sum+ product. All rates for loans up to £500,000 have been reduced.

LV’s Lifetime Mortgage Lump Sum+ offers the following features:

  • 10% early repayment charge (ERC) free repayment each year (following the first anniversary)*
  • Downsize protection*.
  • Fixed ERCs ending after 10 years.
  • ERC free repayment within 3 years of first death (joint life mortgage)

(* Terms and conditions apply)

If you are interested in this product or would like more information call us on 01223 329666 for a no obligation chat.

Posted in News

Join our team!

April 26th, 2018

We’re hiring!

Part time Compliance Administrator

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Retirement Advantage has introduced a new Lifetime Mortgage product, Prestige Options which provides a tax-free, one-off cash payment for higher loan amounts. No payments are due and interest is added to the loan each month.

Prestige Options offer:

  • Maximum loan amount of £2 million
  • Minimum applicant age of 60
  • Maximum property value £6 million, properties above £6 million considered on a case by case basis
  • Free valuations, uncapped
  • Fixed early repayment charges (ERCs). In place for the first 10 years of the initial advance or additional borrowing withdrawal.
  • No affordability assessments.
  • Option to add a cash reserve facility, for an additional MER of 0.2%

If you are interested in this product or would like more information call us on 01223 329666 for a no obligation chat.

Posted in News

New categories have been added to the acceptable property criteria for Equity Release. This is good news if your property has previously been rejected or you are considering Equity Release and have a property that falls within one of the criteria below:

  • Flat roofs (over 45%)
  • Ex-local authority flats
  • Properties adjacent to a commercial premises
  • Flats over 6 storeys, with a lift
  • Listed properties

Contact us today for more information or to discuss whether Equity Release might be right for you.

 

Posted in News

The new Minimum Energy Efficiency Regulations came into force on 1 April 2018. Without an EPC rated E or above, landlords face civil and criminal penalties for signing a new tenancy, or renewing an existing tenancy on properties with a rating of F or G. There are fines of up to £4,000 for landlords that are found in breach of the legislation. The Government estimates that up to 10% of all domestic properties in England and Wales currently have an EPC rating of lower than band E.

So which properties do the new EPC rules apply to?

• Domestic properties in the private rental sector
• Properties on a lease between 6 months and 99 years
• Properties in England and Wales. (Scotland currently has a similar legislation that is already in place.)

Are there any exemptions?

• Properties where all improvements have been made and the property rating remains below E.
• Properties that fall within the scope of a “Listed Building”
• Properties that are hard to treat or improve for structural reasons

However, exemptions must be registered on the Private Rented Sector (PRS) Exemptions Register.

What about Longterm Lets with an F or G rating?

From 1st April 2020 all domestic private rental properties must be at a minimum of EPC band E, whether a new lease is being signed or not.

What to do now?

1. Ensure your property has a valid and up-to-date EPC. You can search the EPC register for copies of existing certificates. This website also lists accredited Domestic Energy Assessors if you require a new EPC.

2. Make the necessary improvements to raise the Energy Efficiency rating. Improvements might include loft and wall insulation, LED lighting, or updating old boilers and appliances.

3. Some energy companies offer help to landlords and you can contact them for advice and find out how to upgrade your property’s energy efficiency.

4. There may be help available to landlords via the Government’s Green Deal initiative.

5. More information on the new guidelines can be found in the Government’s Guidance to Landlords of Private Rental Properties.

Posted in News

Equity Release for Buy to Let Properties
We now have access to equity release products for buy to let landlords.
By choosing equity release over selling your property you could save on capital gains tax and still benefit from rental income. This would be an ideal opportunity for landlords with an interest only mortgage who is nearing the end of their term.
If you would like to discuss this please call our team.

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Equity Release

February 13th, 2018

Well done to Cheryl Marshall for passing her Equity Release exam. Turney & Associates Ltd have experienced and qualified staff.

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Right to Buy mortgages

February 8th, 2018

Money Box Live: Right to Buy Radio 4 7th February

New data shows a big rise in the number of council homes in England sold off in the past 6 years. It follows government efforts to boost the scheme, which gives council tenants the right to buy their homes at a hefty discount, funded by the taxpayer. The policy was introduced in the 1980’s under Margaret Thatcher, to encourage home ownership and greater social responsibility. Since then, more than 2 million council homes across the UK have been sold. But it’s always been controversial with concerns that not enough replacement homes are being built to meet demand. Scotland stopped selling off its council homes in 2016 and Wales is following suit.

Posted in News

8 February 2018

At its meeting ending on 7 February 2018, the MPC voted unanimously to maintain Bank Rate at 0.5%.

Posted in News

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