Mortgage Advice Billericay – Clarity Financial Management

  • Company Name: Clarity Financial Management
  • Website: http://www.clarityfm.co.uk/
  • Phone: 01277 633 300
  • Street: Crescent House, 51 High Street
  • City: Billericay
  • County: Essex
  • Zip/Postal Code: CM12 9AX
  • Area 1: Billericay, East London & Essex
  • Listed: July 7, 2016 1:30 pm
  • Expires: This ad has expired
Mortgage Advice Billericay

Description

Clarity Financial Management Tel: 01277 633 300 Mortgage Advice in Billericay, Brentwood, Gidea Park, Emerson Park, South Woodford & Chigwell.

Providing individual mortgage advice; unique to you

Buying a property can be the biggest decision made in our lives. It is for this very reason that impartial advice is critical from competent and qualified advisers. 

Whether you are a first time buyer, looking to remortgage or even looking to purchase a second home, this is where our advisers excel.

Providing individual mortgage advice; unique to you

Becoming a private landlord should not be seen as an easy way of making money. It can be riskier and more complicated. It can also be very time consuming, more than most forms of investment, and there is no guarantee that house prices will rise. That said, having a second property to let to tenants could reap considerable financial rewards over time.

There are 3 main differences in buy to let mortgages:

Rent Potential – the decision as to whether or not a mortgage will be offered is usually based on the rent you will earn as well as your income. In some cases your income is not ever considered.

Interest Rate – buy to let mortgages have slightly higher interest rates.

Larger Deposit – typically a minimum of 20% or 25% of the property’s value is required as a deposit.

When buying a second property to let, you will need to decide whether your primary objective is income or capital growth. In other words, are you looking to make a profit month on month or are you looking to make a profit through increased equity from the second property if it increases in value over time? The decision may affect the type of property you purchase, and the location.

When you manage a property there are many costs involved in addition to the monthly mortgage repayments. As a guide, you should be aiming to achieve a gross rent of about 135% of the rental property’s interest only mortgage repayments in order to cover your costs should anything go wrong.

Legal

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

We normally charge a fee for mortgage advice, however this will be dependent on your circumstances. Our typical fee is £625

Clarity Financial Management is an Appointed Representative of Personal Touch Financial Services Limited which is authorised and regulated by the Financial Conduct Authority.

– The Financial Conduct Authority does not regulate most Buy to Let Mortgages

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