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.

New build houses in Wythenshawe

The area of Greater Manchester known as Wythenshawe is booming. Affordable housing, with great access to the motorway network and the creation of many new jobs from the likes of Amazon and Manchester airport, mean that Wythenshawe is having a property boom.

Wythenshawe, Greater ManchesterAs an area, Wythenshawe has come a long way. 20 years ago parts of it were “no go areas”, it was run down, dilapidated and crime friendly. Now, many of the old decrepit estates of the 1950’s and 60’s have been pulled down and the whole area regenerated by building smart new houses and developments that will attract inward investment and families. One such development is this one in Newall Green, Wythenshawe.

As every house buyer is aware, the cost of housing is not cheap, and new build housing is no exception. As an added incentive (especially for families and first time buyers) to move to Wythenshawe, specialist mortgages can be arranged that offer a significantly better deal to homeowners than what is offered by the usual mortgage.

Better interest rates on mortgage repayments and fixed interest deals are two ways that people buying in Wythenshawe can take advantage of when buying a house. Interest rates are currently low, but they can’t really go any lower, so the only way is for them to rise. By fixing the interest rate of a mortgage for say 5 years, you are guaranteed to be repaying money at this low rate even when interest rates go up.

It pays to be smart with mortgages and getting the right mortgage will save you thousands of pounds over its course.

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.

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.

Finding a new place to stay

As soon as the place you want to live, you have to start studying the properties in that location very well so you clearly get to know the local market prices. Then you want to butter up nearby property dealers.

You want to visit as many properties as viable when you a looking to buy a house, and ensure they are no hidden surprises. See top hints: matters now not to overlook whilst viewing a assets and top tips: smart questions to ask your estate agent
It’s additionally essential to recognize whether or not the property is freehold or leasehold, and that it isn’t on a quick lease. See Leasehold v Freehold – what’s the difference?

Make an offer for a house
Ensure you are in the strongest feasible position as a customer. See these hints:
– attending to the front of the customers’ queue
– decide how a lot you need to pay, including for fixtures and fittings.

See How do I recognise I’m not paying an excessive amount of?
– Make the provide to the property agent and a mortgage broker, and seal the deal. See Making a suggestion – and haggling over the fee
You will probably be requested to pay a small holding deposit of £500 or £one thousand to expose you are serious. it is going to be repaid if the sale falls via hopefully your offer could be prevalent by way of the vendor recall whether or now not to get home customer’s protection coverage

Welcome to Wigan

Wigan is one of the four oldest boroughs in Lancashire, receiving a charter from Henry III in 1246. It is believed to have started life as the Roman garrison town of Coccium. Some of the town’s charters are on display in Wigan History Shop, a former Victorian library designed by Alfred Waterhouse, the celebrated architect of Manchester town hall and the Natural History Museum.

Famous Wigan food products include Heinz baked beans, Pataks Indian foods, Potters herbal remedies, Uncle Joe’s Mint Balls, and De Roma ice cream.

Mortgage brokers and advisors from Manchester began their careers in Wigan before moving on to offering mortgage advice and brokering services to Prestwich, Wythenshawe, Didsbury and Bury.

Other well known Wigan firms include Girobank, the Tote, JJB Sports, US glass fibre manufacturers PPG, and carpet firm Milliken. Wigan is also the home of the North West Tourist Board and the Tidy Britain Group.

Once the centre of the Lancashire coalfield – in the late 1800s there were 1,000 pit shafts within five miles of the town centre – Wigan no longer has any collieries. The last pit, Bickershaw, closed in 1992.

Wigan was a key battle ground during the Civil War in the 17th century, and Cromwell’s troops passed through the town twice. The town stayed loyal to the king, and was later rewarded with a ceremonial sword. Until local government reorganisation its motto was ‘Ancient and Loyal’.

The Verve, whose split was announced recently became Wigan’s most famous musical export since … George Formby! The band were all from the Wigan area and met while at Winstanley College, a sixth form centre on the outskirts of town.

Other notable Wigan bands include the Railway Children and folk-rockers the Tansads. Wigan Youth Jazz Orchestra is known the world over, while Andy Prior – dubbed the new Sinatra – owes his success to his formative years with WYJO. Nearby Leigh – part of the borough of Wigan – is the birthplace of Georgie Fame.

In the 1960s and 70s, Wigan Casino was the spiritual home of ‘Northern Soul’ music, attracting thousands to its famous all-nighters. The casino burnt down in the early 1980s. In the 90s the town gained a reputation as a centre for jazz and now hosts an international jazz festival every summer.

Well-known Wigan-born figures include entertainers George Formby, Roy Kinnear, Ted Ray and Frank Randle; miners’ leader Joe Gormley; and former Chief Constable of Greater Manchester Sir James Anderton. Actor Sir Ian McKellen grew up in the town in a house opposite Mesnes Park.

Contemporary Wiganers of note include Kay Burley of Sky News; DJ, journalist and TV film critic Stuart Maconie; former Hollyoaks actress Davinia Murphy (who played Jude Cuningham), and Coronation Street’s Georgia Taylor (Toyah Battersby) and Eva Pope (barmaid Tanya Pooley). Local MP Ian McCartney is currently a high flier in Tony Blair’s New Labour government as Trade Minister.

Wigan

Wigan Rugby League FC are the UK’s top club side. In 1990/91 they won all the major trophies, and hold the record for the number of successive cup and league wins. In soccer, Wigan Athletic have moved into a new 25,000 seat stadium at the town’s Robin Park, which they share with the Wigan Warriors rugby club. It has been paid for by…

Wigan Athletic’s multi-millionaire chairman Dave Whelan, the boss of JJB Sports, whose phenomenally successful chain of sportswear stores is one of the UK’s retailing success stories.

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.

What does a Mortgage Broker Do?

A mortgage broker is essentially a middleman between the borrower/property owner and the bank or mortgage lender. They work immediately with each the consumer and the financial institution to assist debtors qualify for a loan, whether or not or not it’s a purchase mortgage or a refinance.

As you could see from my rather rudimentary, yet pretty time eating diagram above, the mortgage broking acts as a liaison among essential entities. The borrower/house owner stop is the retail facet, whilst the bank/lender stop is the wholesale aspect.
So how does this entire loan broker component paintings?

As soon as a borrower makes contact with a mortgage dealer and is of the same opinion to work with her or him, the dealer will collect crucial records. income, asset, and employment documentation, along with a credit score file, are important to assess the borrower’s capacity to obtain financing. A retail bank could acquire the equal documentation.

advice postit note

As soon as the loan broker has all of the crucial information, they can decide what is going to work nice for the borrower. this can include setting the proper mortgage quantity, loan-to-cost, and determining which loan type could be ideal for the borrower.

Of course, the borrower can determine on all this stuff on their very own if they so select. The dealer is simply there to help (and make their commission).

Whilst all of the info are ironed out, the broker will publish the loan to a lender they work with to benefit approval. at some stage in the loan method, the broking will speak with each the financial institution and the borrower to ensure the entirety runs smoothly.

In case you use a broking, you won’t definitely paintings at once with the bank. All correspondence will funnel thru the broker and their personnel.

Mortgage brokers and lenders make cash through charging a loan origination fee and/or broking prices in advance (they used to receives a commission thru yield spread premium).

They can also offer no cost loans via utilising a lender credit score, so as to effectively improve the borrower’s hobby charge, but get rid of out-of-pocket expenses.

Debtors can pick out if they need to pay these costs at last or thru a higher interest fee. Ask your broker to virtually talk each alternatives earlier than intending.

What they price can vary substantially, so ensure you do your homework earlier than agreeing to paintings with a mortgage broking. And ask what they price before you apply!

After all of the office work is looked after, the loan broking will paintings on behalf of the borrower to locate the exceptional (lowest) mortgage charges to be had. this is the important thing benefit of a mortgage broking. they’ve the capability to save with severa banks and lenders simultaneously to find the lowest price and/or the best mortgage software.

If you use a traditional retail financial institution, the loan officer can handiest offer loan packages and corresponding mortgage costs from a single bank. truly this would lessen your possibilities of seeing all that is obtainable. And who wants to apply more than once for a mortgage?

Keep in mind that the wide variety of banks/creditors a mortgage dealer has get right of entry to to will vary, as agents ought to be authorized to paintings with every individually. In other phrases, one mortgage dealer may also have access to Wells Fargo’s wholesale mortgage charges, even as any other may not. The more options the better. So ask the broking for more than one costs from as many lenders as viable.

Loan agents paintings with debtors throughout the whole loan manner till the deal is closed. normal, they’re probable a lot extra to be had than loan officials at retail banks, considering that they work with fewer debtors on a greater personal degree.

That is some other big benefit over a retail financial institution. if you go together with one of the huge banks, you could spend maximum of some time on keep ready to get in contact with a consultant. moreover, in case your mortgage is declined, that’s the give up of the road. With a mortgage dealer, they’d really practice at another financial institution.

Mortgage brokers have been largely blamed for the loan crisis because they originated loans on behalf of severa banks and weren’t paid based on loan performance.

Studies have proven that those originate-to-distribute loans have performed worse than loans funded via conventional channels. however the massive banks had been those that created the loan applications and made them available, so ultimately the blame lies with them.

Regardless, you shouldn’t get yourself stuck up within the blame recreation. it’s miles endorsed that you touch both retail banks and loan brokers to ensure you thoroughly keep your mortgage. maximum borrowers most effective achieve a single loan quote, which without a doubt isn’t doing your due diligence.

For further information about how mortgage brokering works, try this web site – https://moneyfacts.co.uk/guides/mortgages/why-use-a-mortgage-broker180511/.

Divorce Options

When you’re getting divorced, loan issues want to be addressed and taken care of if the 2 of you personal a home collectively. Even if your divorce decree states that your husband may be chargeable for the mortgage, you need to recognise that this might not cast off your legal responsibility in the eyes of the lender. while the two of you signed the unique loan papers, you and your husband agreed to be collectively chargeable for repaying the loan. This can be a very trying time for those involved and it’s a good idea to read as much as possible about people in a similar situation.

To dispose of this legal responsibility, the house will want to be bought or the loan will either want to be refinanced or assumed. you can also pick out to keep the mortgage the manner it’s far, but this is a unstable proposition. to help you apprehend what your options are, read the following methods to handle your divorce mortgage obligations.

Maintain the original loan

unluckily, that is the option that many people unknowingly make when they break up. In essence one partner agrees to hold the house, however the loan isn’t always modified after the divorce is finalized. If this is your state of affairs, comprehend that if your ex doesn’t make the mortgage payments, it may ruin your credit if your ex defaults at the mortgage.

maybe you need to preserve the co-ownership of the house and go away the unique mortgage intact until the children are grown. once the kids are gone, the residence can be bought and the proceeds can be split. To make this association paintings, each you and your ex should be able to cooperate in any such manner that the loan bills, taxes and protection are paid in a timely fashion.

Like I said earlier, this is a unstable proposition. initially, do you really want to hold that closely tied in your ex. Secondly, if your ex has any destiny liens filed in opposition to him, they can be connected to your private home. This ties up the identify and makes it tougher to promote the house. And subsequently, having an existing loan can make it hard to qualify for a new mortgage as it will boom your debt to profits ratio. you are higher off attempting some of the other divorce mortgage alternatives underneath.

Sell the residence

one of the simplest approaches to eliminate your legal responsibility from the loan while getting divorced is by using promoting the marital home. The proceeds from the sale will first be used to repay the present mortgage, and whatever that is left over after closing prices can then be break up among you and your spouse. commonly, it is a great idea to promote the house earlier than your divorce is finalized to save you destiny opportunities to combat over the income rate. Plus, neither of you may should fear about the other not making loan payments, retaining the house, or paying taxes and coverage.

One partner continues the home and Refinances the loan

That is a not unusual strategy when one spouse wants to preserve the house. In this case, the partner who desires the house commonly buys out the alternative partner’s equity share and refinances the mortgage into his or her own call. If you may be keeping the residence, it’s far vital to have your partner signal a cease declare deed which relinquishes his ownership and rights to the assets.

in case your spouse is the only who can be maintaining the home, it is very important that the mortgage be refinanced in his name best. as long as your name remains on the loan, you will stay accountable for the mortgage bills must your ex default at the loan.

if your divorce is not but finalized and your ex may be retaining the house, it’s a terrific concept to encompass language to your divorce decree that your spouse will refinance the house. along with this, you should additionally have your partner sign a Deed of agree with to comfortable Assumption. This gives you the right to foreclose and take again ownership of the house if he fails to refinance and ultimately defaults at the mortgage. After your divorce papers are signed and the whole lot is finalized, you want to inform the mortgage lender of your security interest and request that they notify you at your present day address of any missed bills.

One partner maintains the home and Assumes the loan

A divorce loan assumption can be a terrific alternative if your bank will approve it, but you have to realize that now not all mortgages are assumable. consequently, the primary element to do is to contact your loan lender to look if they will permit you to anticipate the loan.

If the mortgage lender will can help you anticipate the loan, you begin the method via filling out the belief settlement and a release of legal responsibility. The lender will also need documentation to decide if you could pay the mortgage primarily based entirely for your personal income. if you meet the lenders underwriting guidelines, you can also want to supply a copy of the give up declare deed in addition to a replica of your divorce decree. If the assumption is accredited, the lender generally executes a release of liability to the alternative spouse.

this can be a terrific option if your financial institution will allow the idea and you’ve got correct terms in your existing loan. despite the fact that there are assumption prices, they may be commonly lots less than what it might value to refinance the mortgage.

Finding a Mortgage – Use Experts

When I wanted to find a buy to let mortgage I didn’t really have the first clue about where I’d go to find what I wanted. Most of us think the bank is a good first bet, but you’d be wrong about that. According to this document published on the RBS web site there are 4 key stages in getting a mortgage, but what they don’t tell you is that the average amount of time it takes you to get a mortgage through a bank like RBS is 4 – 6 months!

If you find this information ridiculous then you are not the only one. Research shows that many people are now stopping using banks for their mortgage needs and are instead turning to independent (or ‘whole of market’ mortgage brokers). These are mortgage advisors who recommend products from across the range, rather than from just one bank or building society and are therefore often to recommend extremely competitive products to their clients.

In Manchester there are a few of these advisors and they specialist in buy to let, first time buyer, remortgage and poor credit mortgages. You can also take the advice of experts on money forums such as moneysaving expert. Specialists like http://forums.moneysavingexpert.com/member.php?u=2524714 are ideal people to ask for mortgage advice.