Homes in Manchester City Centre

There’s a lot of new building and housing developments underway in Manchester City Centre as anyone who has driven through it or works there will tell you. This is not surprising with house prices in London being ridiculously expensive that most people can no longer afford to live there.

So Manchester therefore looks very attractive, and you only have to go along to Piccadilly Station in the morning to see all the commuters who each day travel to and from London for work. Some would say this is quite a good idea really as you can get a lot of work done in the train.

Manchester city centre mortgage broker

As so many people are wanting to live in Manchester there is a lot on new build housing being built (see http://www.rightmove.co.uk/new-homes-for-sale/Manchester-City-Centre.html). Mortgage brokers in Manchester have been very impressed with the new housing developments around the Manchester City football ground (see my earlier post here).

Prices in the centre of Manchester are more expensive than areas outside, but this is to me expected, getting yourself a decent mortgage advisor is then next crucial step – as I repeatedly say, DON’T use a high street broker – their deals are rubbish, use and independent mortgage advisor and you WILL save yourself thousands of pounds throughout the duration of your mortgage.

Moving to Norden?

Norden, Rochdale, LancashireNorden is a small Lancashire village situated between Rochdale and the Rossendale Valley. It’s quite a well to do place with a population of approximately 10,000.

A recent look at a popular web site that lists houses for sale in Norden (https://www.onthemarket.com/for-sale/property/norden/) shows quite a diverse number of houses that would suit those looking to move to a bigger house, first time buyers and landlords looking to invest in a property that they can then let out.

As Norden is a small village there’s a lack of high street shops. Instead you’ll find local stores and a large number of pubs. If you’re looking to find a mortgage broker rather than go into Rochdale the best advise is too look for an independent local mortgage advisor who knows the area and will come out to you.

Another advantage is the speed at which local brokers and mortgage advisors operate. If you have any experience of high street lenders you’ll know it can take months for them to finally offer you a mortgage (provided you get that far!), and in that time you can lose the house because someone nipped in and bought it ahead of you.

Take a look through the pages of this web site and see what I’m currently recommending. Go to the homepage here.

Best wishes, Alan

Mortgage Broker Eccles

If you’re looking to buy a house in the Eccles area of Greater Manchester and you need a decent mortgage broker then look no further. In this previous post I talked about a Manchester mortgage lender with a good reputation and I’m pleased to say they also cover the Eccles area.

Of course Eccles has many areas close by that are popular with home buyers – you can take the A57 across to Irlam, or head over the canal to get to the Manchester United ground and Stretford, or you can head towards Worsley and to the popular village of Monton.

Between Eccles and Monton is Green Lane where a new housing development is being built on an old industrial site. A mixture of 3 to 4 bedroom houses, prices are a very competitive £200,000 to £250,000 and a near the canal that comes from the Worsley Golf Course.

Close to the Trafford Centre, the mortgage broker for Eccles also tells me that the housing development is in easy reach of two local schools: Monton Green Primary School and Westwood Park Community Primary School.

Monton has it’s own village web site which you might like to browse here: https://www.montonvillage.org.uk/.

Tameside Mortgages

Those of you considering buying a house in the Tameside area of Greater Manchester should consider some local Manchester mortgage brokers rather than the high street options according to Ashton under Lyne councillor David Matthews.

ashton under lyne

“Ashton and Stalybridge have some great houses available to buy, but people are telling me they are finding it difficult to get a mortgage.”

Fortunately the answer is simple, Google something like “Manchester mortgage broker” and you’ll find several companies who will be able to help you find the mortgage you need.

Tameside, containing the areas of Ashton, Dukinfield and Stalybridge has long been a popular area of Greater Manchester for people to live in, and looking at the Rightmove web site for Stalybridge (http://www.rightmove.co.uk/property-for-sale/Stalybridge.html) there are a lot of decent houses on the market.

However, echoing Ashton councillor Matthew’s statement, with house prices this high, getting a mortgage can prove difficult for some people. Most of us see renting a property as “dead money” because the money goes to someone else and you never get to actually own your own home. Most people want to go down the buying route of home ownership so after their mortgage is paid off, they have an asset that they can use as leverage to buy something else, or have a nice nest egg for when they retire etc.

When you get a mortgage always do the maths and work out how much it’s going to cost you over it’s duration. Critical figures are the interest rate of your mortgage and and fixed terms that apply to it. With the feeling that mortgage interest rates will rise over the next few years, it may be a savvy idea to get a mortgage broker who secures you a mortgage where interest rates are fixed for a number of years. This means you will beat any rate rises during this time.

London vs North West Housing

The North West areas of Preston, Liverpool and the Wirral are popular locations for people who want to live in the north of England. But what’s is like living in the north?

Well, the cost of living is far cheaper for one. The average cost of a house in Liverpool is £107,000 (source: http://www.rightmove.co.uk/house-prices/Liverpool.html), compared with London which is £534,000 (source: http://www.rightmove.co.uk/house-prices-in-London.html). This single statistic proves that the north-south divide ridiculed as non existent by some is actually alive and kicking.

Ok, so house prices are cheaper, but wages are lower too. In this study from Manchester’s Metro newspaper we learn that London salaries are significantly higher than the rest of the country (http://metro.co.uk/2015/11/18/how-does-your-salary-compare-with-the-rest-of-the-country-5511194/). So what have Liverpool, Preston and the Wirral got going for them?

The cost of living is cheaper as well, as is the cost of motoring (no congestion charge) and the food is cheaper too. You could sell you London home for £500,000 and move to a 4 bedroom detached in Liverpool for £140,000, thus netting £340,000 cash in part of your move. If you look after your money that will keep you going for a good while.

It’s similarly far easier to get a mortgage broker to find you a decent mortgage when there aren’t such large sums of money involved. Mortgage advice and mortgage brokers practice an art of finding you the best mortgage for your requirements. They do this by speaking to all the mortgage lenders who provide mortgages that are suitable to your requirements. Don’t arrange your own mortgage, it’s not worth it as you’ll lose out financially. It’s far cheaper for you to arrange your mortgage through a mortgage broker, and their fee are usually absorbed by the mortgaging company too which means that the cost to you is transparent.

So have a read through the posts on this site, there’s lots about mortgages, housing and brokering in the north west. If you want any advice please get in touch with us.

Mortgages in Halifax and Huddersfield

In this interesting article from the Huddersfield Examiner it seems that both Halifax and Hudderfield are vying for a spot on the new Pennine edition of the popular board game Monopoly.

Huddersfield monopoly - housing mortgages

Most of us know what the game Monopoly is, where you move around a board, buying up property that you can then build houses and eventually hotels on. Doing this increases the rateable value of the land you bought. And you charge people when the land on your property, so the more houses the better.

Hudderfield is in West Yorkshire and has many outlying areas such as Longwood and Meltham. Halifax is smaller but popular housing areas like Todmorden and Ripponden are also close by.

Of course for most people buying a house in Halifax or Huddersfield, one of the most important things is to secure a mortgage, which is used to buy the house. Looking across the both areas, I notice that Manchester Mortgages have introduced a new mortgage brokering service in both Halifax and Huddersfield at http://manchestermortgages.co.uk/halifax-mortgage-broker-advisor/.

Getting the right mortgage is of course essential, as getting the wrong one – one with a higher interest rate and restrictive clauses such as not being able to make early repayments back on the mortgage should be avoided. I worked out that getting a 25 year mortgage in either Huddersfield or Halifax can cost you over £25,000 that you could avoid if you shop smart and get the right mortgage. I recommend you take a look at Manchester Mortgage’s new Huddersfield and Halifax brokering service – it should save you money.

Buying a house in Rossendale

I’ve recently been in the Rawtenstall area of Rossendale Valley. The Rossendale Valley is an area of Lancashire that contains the towns of Rawtenstall, Bacup and Haslingden. It’s quite well connected from a travel point of view – from Haslingden you can take the Grane Road across to the M65 and Blackburn, and from Rawtenstall you can take the M66 to Bury and then pick up the M66 / M60 motorway network that can take you into Manchester and Bolton.

Rossendale Valley - photo

House prices and the availability of mortgage brokers vary considerably: on the Haslingden border is Helmshore which itself starts going upmarket. Continue on through Helmshore and you’ll get to Ramsbottom and Holcombe Village which have some of the most exclusive houses in the Rossendale Valley.

One of the estate agents currently doing businesses in buying and selling homes in Rossendale is Farrow and Farrow (https://www.farrowfarrow.co.uk/) who have a wide selection of property available throughout the Rossendale area.

For those not wishing to buy a house, renting is a big option these days and there are lots of properties available throughout Rossendale to let.

From experience once you’ve chosen where you want to live the next step is to find a mortgage broker who can get you the mortgage you want. Many people don’t put that much effort into this, but getting the right mortgage advisor who can broker you a mortgage deal can save you thousands of pounds. Personal recommendation speaks a lot and without hesitation my recommendation for people looking for a mortgage would be http://manchestermortgages.co.uk/. Based near the Rossendale Valley they have never let me down and have been brokering mortgages throughout Manchester for over 20 years.

It’s not just house buyers who use mortgage brokers either. People looking to remortgage, buy to let or let to buy will also benefit from using a good broker.

Mortgage Brokering in Bolton

Bolton is a city in Greater Manchester in the north west of England. For anyone who knows the area of Bolton, it has rich parts and poor parts. Similarly, houses and house prices vary considerably as do mortgages for various areas of Bolton.

For example, a mortgage broker who specialises in the richer parts of Bolton such as Egerton and Edgeworth is unlikely to be dealing into mortgages for properties in areas such as Breightmet and Failsworth.

map of Bolton

Similarly, depending on the value of the property a person wishes to buy, the interest rate on the money you want to borrow is dependent on the sum. For example, a loan arranged by a mortgage broker in Edgeworth or Egerton area of Bolton will have an interest rate of around 1.99% per annum. A loan for a mortgage for about £80,000 in Failsworth or Breightmet will probably be loaned on an interest rate of about 2.49%. This is a significant point that will make a considerable different to anybody using a mortgage broker to buy a house throughout Bolton.

With the Bank of England looking to raise the base rate shortly, now is a good time to get a mortgage for a property, before the interest rate rises take hold. Many mortgage brokers will be able to secure either a 2 or 5 year deal with a fixed interest rate. This information should be of interest to all mortgage holders who are looking to buy in Bolton.

If we asked the following questions, would you know the answers?

MORTGAGE

  • Who is your mortgage lender?
  • What interest rate you are paying?
  • What is the current mortgage amount outstanding?
  • How much per month are your mortgage payments?
  • Are you in a fixed rate – if so when does it end?
  • What rate will your mortgage revert to after any current deals ends?
  • What will your new mortgage payments be per month?
  • Are you paying your lender’s standard variable rate?
  • The current value of your house?

Once your current rate ends unless you review your mortgage you will revert to your lender’s Standard Variable Rate ( SVR ) – dependent on lender this could mean a rate of anywhere between 3% and 6% .

If looking to change lender ( re-mortgage ) you need to be reviewing your mortgage 3 months before your current deal ends as with re-mortgage solicitors have to be involved in the process which sometimes can delay matters.

asking a question

PROTECTING YOUR INCOME

  • If employed how much & for how long will your employer pay you if off work?
  • If self employed – do you have any cover in place to protect your income if off work?
  • If your income stopped due to accident or illness how would you be able to pay your monthly mortgage and bills and maintain your ( and if applicable your family ) lifestyle?

LIFE COVER / CRITICAL ILLNESS

  • If you died how much life cover do you have – would it repay your mortgage?
  • If you had a critical illness such as a Heart Attack or suffered a Cancer have you cover which would pay out for a second opinion and access to treatment by the best doctors in the world?
  • Do you have any policies which offer cover / treatment for your children in the event of them suffering a critical illness?
  • Time flies by and peoples circumstances change – it maybe that when you last took out your existing cover you were young, free & single – but now you are married / living with your partner and have children and a bigger mortgage !
  • Life companies now offer much more by way of benefits and flexibility in their policies – Manchester Mortgages can review your existing policies and advise on the best way to provide the cover you need to suit your present circumstances.

CONCLUSION

If you’re being honest you most probably knew a few of answers straight away such as your mortgage lender and how much your mortgage payments currently are – the rest maybe not.

Dementia and Mortgages

Mortgage specialists Manchester Mortgages have been posting articles about Manchester related mortgage issues on their Facebook page for months (https://www.facebook.com/manchestermortgages/). Now with the Government plans for a dementia tax, they are offering specialist advice for those people affected by dementia.

A unique reminiscence Room has been created at a care domestic in extra Manchester to help those suffering from dementia.

it is was hoping the room at Fiona Gardens in Trafford will help jog the recollections of dementia patients and inspire different elderly residents to re-hook up with their past.

A body of workers have designed it to copy a Nineteen Fifties residing room, complete with stereogram, sewing gadget and typewriter and furnishings donated from local citizens.

Dementia influences more than 850,000 human beings within the united kingdom. Contact either Alan or Andy at Manchester Mortgages for further advice.