Buying a house in Chatburn and Clitheroe

It was during this delightful walk between Chatburn and Grindleton in Lancashire that I started to think how nice it would be to live in an area of Lancashire such as this.

Chatburn today

Most of us find ourselves confined to the urban sprawl of places and districts such as Bolton and Preston, but the towns and villages such as Clitheroe and the Trough of Bowland are absolutely delightful – quite, peaceful and rural. Ideal if you want to get away from the rat race.

clitheroeOne only has to spend 30 minutes in the open spaces of Clitheroe, Chatburn or other similar villages to start to feel a sense of rejuvenation and reconnection to the earth. It’s probably one of the reasons that both places are tourist attractions for walking enthusiasts.

For those wanting to buy a house in Chatburn, Bowland or Clitheroe, I recommend you try the online agencies to see what sort of the properties are available and what prices you can afford, as for getting a mortgage, my advice is to chose a mortgage broker / adviser who is familiar with the area and who can offer you a wide range of mortgages – take a look at the homepage of this site (http://www.mortgagebrokeradvice.co.uk/) for recommendations.

Right, time to get back to my walk!

Mortgages in Irlam

With the housing market reported as sluggish (http://www.telegraph.co.uk/personal-banking/mortgages/sluggish-housing-market-keeps-mortgage-rates-rock-bottom-even/), now is a great time to get a mortgage and get on the Manchester housing ladder. One of the key areas is Irlam, in south west Manchester.

Near to the Trafford Centre just off the M60 motorway is the town of Irlam. As part of Greater Manchester and close to the ring road and several motorways, Irlam is a place that many homeowners are moving to. With house prices starting at around £150k (see here), many people, including younger first time buyers and those with families are seeking mortgages in Irlam.

irlam and cadishead schoolSo what’s Irlam got that makes it a nice place to live?
Well it’s close to Manchester city centre, even closer to the Trafford Centre, and links to Liverpool, Leeds and Bolton are all within easy reach of an accessible motorway route. There’s also the huge swing bridge which connects Urmston and Stretford with Irlam (see http://www.manchestereveningnews.co.uk/news/greater-manchester-news/could-motorists-pay-drive-over-13845889).

It’s also near some of the more upmarket areas as one heads out towards Cheshire, such as Cadishead, Carrington (where the Manchester football teams practice) and Dunham Massey.

Also, as the whole of Greater Manchester is rather a growth area at the moment there is a high demand for mortgages and property. Regular readers of this blog will note that we recommended several mortgage brokers in Manchester, so all you need to do is read our blog a bit more and choose one of the many mortgage advisors we recommend.

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.

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.

Buying a house in Prestwich

Increasing investment within the region’s food and drink scene has induced humans to sit up and take note of Prestwich, say mortgage broker specialists Manchester Mortgages (see http://manchestermortgages.co.uk/prestwich-mortgage-broker-advisor/).

North of Manchester city centre and bordering Heaton Park, it’s miles one of the maximum ideal commuter spots.

Laurence Juster, from Michael Herwald & Co property retailers, stated: “Prestwich now has a ‘buzz’ about it with wine bars like Cuckoo and all of the Shapes which might be increasingly more popular. And restaurants like Croma, Solita, and Tao’s all provide a taste of the world’s meals on our doorstep.”

With a number of extraordinary faculties and neighborhood parks it’s a success with households too.

Stuart Pearson, from Pearson Ferrier, said: ““There are always matters going on like Festwich unfastened tune pageant, Prestwich Carnival and Clough day. And there are a number of nearby societies and sports activities golf equipment too.”

Travel time?
Tram: Hopping at the tram at both Prestwich or Heaton Park stations can get you into Victoria teach Station in only 16 minutes.

Automobile: using is always a gamble inside the morning, with rush hour visitors absolutely adding time on your adventure.

However on appropriate day you could be within the metropolis centre in as few as thirteen minutes.

Bus: in case you don’t own a automobile, you gained’t be quick of a bus or two both. Catch the 97 at the Longfield centre and you could be at Shudehill Interchange in 24 minutes.

The a hundred thirty five additionally runs down Bury old street/Cheetham Hill street and takes a little longer, simply the 26 mins.

Cycle: It might not have the canalside surroundings, however heading down Bury New road will get you there simply as brief. It takes just 18 mins to get to Victoria from Prestwich city centre.

Residence fees?
depending on what you’re seeking out expenses in Prestwich and the encompassing areas can vary substantially.

And with growing popularity, they’re simplest set to upward thrust.

Boasting a burgeoning food and drink scene, it’s turning into a belongings hotspot – especially for families priced out of different areas.

The common house in Prestwich is presently £211,382 – an upward thrust of greater than £3,000 over the past three hundred and sixty five days.

Terraced residences inside the vicinity are a truthful bit cheaper though, going in the marketplace for £one hundred fifty five,662 on common.

What do they say?
Instructor Adrian Ellison, forty seven, said: “Prestwich usually changed into an exciting place to be, however right now its social, leisure and cultural milieus are burgeoning with marvelous alacrity.”

Every other resident, Neil Darlington, forty four, a commercial enterprise analyst, introduced: “As someone who commutes to Manchester town centre i would say that transport is remarkable.”

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/.

Buying property in Manchester

Just look at the cranes which dominate the Manchester skyline for proof of the location’s booming belongings marketplace – but it’s no longer all approximately big developers.

Manchester skylineMaking an investment in property – whether or not it’s a run down terraced house or a prepared-made purchase to let loose right away – is a splendid way to make money, anything your budget.

So, we’ve quizzed estate retailers, builders and investment companies to prepare a manual on making a living from the local property market.

to break it down we’ve break up it into 5 extraordinary fashions; student lets, on the spot go back, long term investment, off-plan traits and ‘fixer uppers’

South Manchester has a mixture of proper schools, exquisite delivery hyperlinks and a selection of housing stock, which makes it a very good option for everyone seeking out a especially solid place to invest. And our professionals endorse looking at Wythenshawe in particular.

The extension of the Metrolink service to the place is already inflicting increasing call for for belongings there.

Rob Jones, director of belongings funding uk, stated: “The infrastructure in business and commerce near the airport is truely having – and set to continue to have – a ripple impact on demand and residence expenses are constantly growing.

“Wythenshawe i would absolutely say is part of that and should get growth as nicely.” – Barratt homes have a link here.

A spokesperson for Manchester Airport said: “The boom of Manchester Airport additionally brings advantages to the encircling groups and the broader location as a whole in some of ways. From activity introduction, increased inward investment/tourism and monetary benefits from our annual dividend, a developing Manchester Airport is a fine for hundreds of thousands of human beings.”

over the years, some regions of Wythenshawe have had a terrible reputation however successful assets traders will inform you not to decide a e book with the aid of its cowl.

Wythenshawe has gone through a huge shift in current years. With growing delivery infrastructure in the area by means of manner of the Metrolink as well as the £280m airport growth scheme, the city is truly at the way up.

Sean Callaghan, coping with Director at Callaghans property Agent, stated: “As with many inner city regions, Wythenshawe has experienced high degrees of unemployment, underachieving schools and a loss of high grade shopping centers.

“The injection of funding into the vicinity, extended job opportunity and more low priced housing is already having a high-quality effect. we have visible a marked turnaround in current years with the refurbishment of the Civic Centre, increased employment at Manchester Airport and the Amazon Warehouse.

“In terms of belongings we realize that long-term, relaxed positions at the airport will create a similarly demand for first time consumers and investment buyers.”

Mortgages in Wythenshawe

With all the new properties available in Wythenshawe, Greater Manchester (source: http://www.rightmove.co.uk/new-homes-for-sale/Wythenshawe.html), it’s not a surprise that many mortgage brokers and advisors are busy.

Manchester Council’s Strategic Regeneration Framework for Wythenshawe is worth reading as it discusses the Council’s plans for this up and coming area. New houses are being built and the area is the #1 growth area in the UK outside London.

Getting a mortgage for a house in Wythenshawe should be easy if you approach the right mortgage broker. This blog is has several articles that discuss mortgage brokers or lenders in Wythenshawe – simply look through some of the other articles and you’ll find links to plenty of other sites.

Wythenshawe is one of the cheapest areas to live in Manchester but with all the regeneration going on this is set to change. So there are many people advising you get a foothold in this developing of Manchester soon as your property prices should soar over the next 5-10 years.

More about mortgages after a divorce

A friend of mine got divorced recently, well it’s over a year ago now.

Her ex moved out and she took over the mortgage of the house. This was before  I knew her and she obviously had to apply for a mortgage in her own name rather than in joint names.

Words:

This change from joint to single income had a dramatic impact on what was available to her in terms of mortgage and unfortunately she got a very poor deal.

I point readers back to a previous post of mine (http://www.mortgagebrokeradvice.co.uk/divorce-options/) where I discuss what options are available to newly divorced people who wish to continue with home ownership. The options are fewer than you might think.

If you find yourself in this position, PLEASE speak to me as 4 times out of 5 I can get you a deal, and at much better rates than what you are being offered.