New research from specialist buy-to-let lender Paragon has shown that demand from tenants has increased in the third quarter of this year. Only 4% of landlords thought demand had decreased.

Here at Affno Financial we can help you find the right product for your Buy-to-Let purchase and help you start your portfolio. We have access to a wide range of mortgage deals up to 85% loan to value, some which are not available on the high street. We also have access to lenders that use rental income calculations to determine the level of mortgage they will offer. This means that you may not necessarily require a particular level of personal income to obtain the Buy-to-Let mortgage you need.

If you currently have a Buy-to-Let property we could also help you find a remortgage deal. Contact us today to find out if we can help with a more competitive rate.  Equally with loan to value percentages becoming more favorable you may find that now could be the time to raise capital against the property for such things as home improvements.

There are many things to think about with any Buy-to-Let purchase or remortgage. Thankfully here at Affno Financial we are able to provide a full advice service and guide you through all the options available.  In addition to this we also offer a full general insurance and protection advice service.  Why not contact us to see if we could beat your buildings insurance renewal, or provide advice on your personal insurance needs?

For more information Please call us on 0208 421 4073 or email info@affnofinancial.com

Your property may be repossessed if you do not keep up repayments on your mortgage.

Many lenders have recently reduced their interest rates on new products, so if your mortgage deal has come to an end, now might be a great time to remortgage. It has recently been speculated by the British Chamber of Commerce that when the base rate does go up, it could rise more quickly then previously envisaged.. This means anyone on an SVR could have a sudden increase in their rate and subsequent monthly payments, this also might be at a higher increase than the base rate.

Recent surveys show that property asking prices are now starting to slowly recover which means if you are a home-owner the rise in equity of your home may mean you now fall into a lower Loan to Value (LTV) bracket. This will mean you may now be in a stronger position to get a better rate.

There are some great products available including Switch and Fix products. These products allow you to get the benefit of a low tracker rate with the added security of being able to move to a fixed rate product id rates start to increase, without incurring an early repayment charge.

Here at Affno Financial we can take the hassle out of remortgaging and can help find the best deal for you. We are able to provide a full advice service and guide you through all the options available to you. There are many things to take into consideration when taking out a mortgage such as general insurance and protection, thankfully we all offer a full service in insurance and protection so why not contact us today?

Your home may be repossessed if you do not keep up repayments on your mortgage.
*This is based on research conducted by Barclays in May 2011.

Here at Affno Financial , we have access to a range of offset mortgage deals, some which are not available on the high street. Not only that but we will assess your situation to produce a suitable long term plan which will provide you with the best return.

Offset mortgages are a secured overdraft facility where mortgage interest is only paid on the balance between your savings and your mortgage debt. The interest is calculated daily so any funds available in the account will help reduce your interest. In the past, these types of mortgages had substantially higher rates than standard mainstream loans however this difference is less apparent today.

Offset mortgages are a great flexible option, allowing you to retain access to your savings without the need to remortgage. This gives you the freedom you would expect from a savings account with the added benefit of reducing your interest payment, allowing your money to work for you.

There are many considerations and options to take into account with any remortgage. Thankfully we are able to provide a full advice service and guide you through all the options available. In addition to this we also offer a full general insurance and protection advice service. Why not contact us to see if we could beat your buildings insurance renewal or provide advice on your personal insurance needs?

Your property may be repossessed if you do not keep up repayments on your mortgage.

Commercial insurance covers many different areas, however the following may be of interest to you:

Public Liability Insurance: If members of the public or customers come to your premises or you go to theirs (including if you work from home), you should think about taking out public liability insurance. Public liability insurance covers your business against claims from 3rd parties who suffer injury or illness as a result of your negligence. It can also provide cover if you damage the property of a 3rd party.

Professional Indemnity Insurance: You should consider taking out professional indemnity insurance if your business gives advice or offers a professional service to individuals or other businesses. It can cover you if you are negligent or make an error which causes a client’s business to suffer financial loss.

Buildings Insurance for commercial premises: Commercial buildings insurance is designed to meet the requirements of all types of commercial building landlords – from individuals who own one or two commercial buildings to large commercial concerns with sizeable building investment portfolios. Buildings insurance is a must and can be used to insure against fire, lightning, storm, and flood, impact from aircraft or vehicles and escape of water from tanks or pipes.

Here at Affno Financial we have close links to firms providing the above insurances, plus many more, through a number of different insurers. This helps us ensure that you can obtain the product you require for a competitive premium. Why not contact us today to discuss your requirements further.

To find out more please call us on 02084214073 or email us on info@affnofinancial.com

Your Mortgage: Whether you currently have a fixed rate, tracker, standard variable mortgage or are planning to purchase a property in the near future we can help! We have many mortgage products available and we could save you money against your current deal

Your Buildings & Contents Policy: We offer buildings and/or contents cover through an extensive panel of insurers. This means that we can fully guide you through the benefits of different policies and assist you in choosing the most appropriate policy to meet your requirements & budget effectively.

Your life insurance and other insurance policies: We offer life insurance, critical illness cover, income protection and Mortgage payment protection (MPPI)/Accident, sickness, unemployment cover (ASU) through a number of providers. Why not contact us to review your existing policies to ensure that they fully cover you competitively?

In summary; here at Affno Financial we offer a complete service relating to your mortgage and associated insurances. We can offer you a full review to ensure that you are not only fully covered but also that you are fully covered for the best possible price!

To find out more please call us on 02084214073 or email us on info@affnofinancial.com.

*Please note that you should never cancel an existing policy prior to taking out a new one without fully investigating the generic and individual elements that are covered.

We have access to many Halifax products and at the current time we can offer exclusive rates that are only available through very limited channels.  The advantages of transferring your mortgage with us are:

• Access to competitive products no matter what your loan to value* is. *ie. The level of mortgage against the value of your home
• A fantastic choice of fixed, tracker and discounted mortgage rates
• No additional credit scoring –  as long as you are not increasing your mortgage no employment or income checks required by Halifax
• No upfront fees – no legal fees to pay when switching to a new mortgage
• No paperwork to fill in or new Direct Debits to set up

Alternatively we can also look at many other lenders on the market today, investigate other deals and recommend the best product available to you.  We offer a complete advice service from start to finish and can assist with all aspects of your new mortgage as well as covering all of your insurance requirements.

Please don’t hesitate to call us on 02084214073 for further details.

Your home may be repossessed if you do not keep up your repayments on your mortgage or other loan secured upon it.

As an example, a recent survey of 299 household contents policies found that only 18% of insurers include accidental damage automatically. What is accidental damage?  Accidental damage is cover you can take out under the contents section of a policy, which provides cover for damage caused accidentally to your personal belongings whilst in your property. At the other end of the scale 97% of insurers cover loss of water automatically, which means that 3% of insurers would not cover this within their standard policy. These are just two areas of cover within a buildings & contents policy, there are many more to consider based upon your specific policy and circumstances.

Make sure you have the type of cover that you actually want. For example, some of the cheaper home insurance policies for contents are known as indemnity policies. This means that if you need to make a claim the company will assess how much wear and tear the item will have suffered in its life and will provide you with the money equal to the current market value. So if you have a five year old three piece suite and it gets destroyed in a flood, the company will give you a sum of money equivalent to a five year old suite, not a new one.  If you need the insurance money to allow you to go out and buy a new three piece suite then you would require “new for old” insurance cover.

In the current economic climate it is perfectly understandable that consumers are naturally more price focused.  However, it is crucial that people understand policy features to ensure they choose the right type of cover and avoid the risk of underinsuring their home.  Here at Affno Financial we offer buildings and/or contents cover through an extensive panel of insurers.  This means that we can fully guide you through the benefits of different policies and assist you by recommending the most appropriate policy to meet your requirements and budget.

To find out more please call us on 02084214073 or email us on info@affnofinancial.com

If you have a standard variable rate mortgage then it would be up to your lender whether they made any changes, however it is likely that they would also increase their rate and this may not be at the same level as the bank base rate increase.

There is a lot of speculation and it is possible that the Bank of England could now maintain the base rate for some time, but it is also possible that an increase is on the cards in coming months.

With fixed rates at a record low and if you require an element of certainty to your monthly mortgage payments then this may be the perfect time to consider switching your mortgage to a fixed rate product.  This would mean that you would know how much your payments would be for a set period of time.

There are a number of things to take into consideration and lots of options to consider when you are thinking about switching your mortgage.  Thankfully we are able to provide you with a full advice service, which means that we can go through a number of different options to come up with the best solution to meet your needs.

 To find out more please call us on 02084214073.

 Your home may be repossessed if you do not keep up repayments on your mortgage.

Remortgaging is a good way to escape high variable or fixed interest rates and take advantage of some of the current fixed-rate, tracker or discount mortgages which have much lower rates.

It is also a way to raise funds for an expensive purchase. If you have owned your property for a few years, it could be worth much more than your outstanding debt. By taking out a new, larger mortgage you can release money to spend as you choose.

Remortgaging may also appeal if you are on a variable rate and believe interest rates are about to rise. You can move to a fixed-rate deal before this happens.

The costs

Remortgaging costs money, and before applying for a new deal you should find out just how expensive it is going to be. Common expenses are:

• Arrangement and administration fees for the new mortgage. Mortgage arrangement fees can vary from £150 up to £1,500.
• A mortgage valuation fee which tends to be between £130 and £800 depending on your chosen lender and the value of your property.
• Any early redemption penalty on the existing mortgage. This can be from three to six months’ additional interest payments if you redeem the mortgage within a certain period of time after taking it out.
• The higher lending charge. If the amount you are borrowing is more than 75 per cent of the property’s value (loan to value or LTV) you may have to pay a one-off higher lending charge (HLC) premium on the new mortgage.
• Solicitor’s fees – unless your lender offers free legal work.
• Land Registry and local search fees.
• If you have negative equity in your property, you will have to find the additional money that you owe on your old mortgage when you take out a new one. If this is the case, don’t remortgage unless you really have to.

Five point plan

1. Write to your existing lender and ask for a written redemption statement. This will indicate the exact outstanding balance of your loan and will show any penalties or fees you will be charged for redeeming your mortgage.
2. Calculate what the legal fees involved will be. These will vary according to the value of the property and the solicitor used.
3. Look at the new mortgage offer, including the small print, and ask for a written statement of what your new repayments will be, showing any discounts and all the costs that will be incurred, such as the HLC and any arrangement fees.
4. Work out how much you will save each month by taking the repayment for the new loan away from the old repayment – don’t forget to take the standard variable rate (SVR) that the new loan will revert to into consideration as well, particularly if the discounted tracker or fixed rate is only for a brief period of time.
5. To judge whether or not remortgaging is worthwhile, compare the costs with the savings – but don’t forget that the costs will be payable upfront while the savings will accrue over a period of time.

• Overpay
• Underpay
• Take Payment Holidays
• Borrow back overpayments
• Carry no redemption penalties
• Calculate interest daily

Some so-called flexible mortgages may only meet a couple of these criteria, while other all-singing, all-dancing mortgages allow you to do much more. So make sure you do your research before you choose the flexible mortgage deal that suits you best.

Overpaying

The vast majority of flexible mortgage borrowers make overpayments on their mortgages. This may seem like a strange concept, but it makes great sense. If you can get rid of your mortgage early you can save yourself tens of thousands of pounds in interest payments. So if you can afford to make some overpayments why not do so? And overpaying by very small amounts can help greatly.

Underpaying

A truly flexible mortgage will allow you to pay less than the agreed amount – once you have made overpayments. Of course underpaying is not the best idea as it adds to the time it will take to pay off your debt, but it could come in handy in the odd month when your spending is increased.

Payment Holidays

Some flexible mortgage deals allow you to take a complete break from making mortgage payments for up to a year. This could be useful if you’re thinking of starting a family, taking a sabbatical or even going on the cruise of a lifetime. Of course, you have to have built up sufficient overpayments to cover the period you take off. And the terms and conditions will vary. Some mortgage lenders may only let you take a couple of months’ payment holiday each year. So check first if you think you might want this option.

Borrowing Back

Borrowing back overpayments you have made makes perfect sense if you need extra cash. The beauty of mortgage overpayments is that rather than putting any spare cash into a savings account and earning a couple of per cent interest on it, because the amount you over pay is taken off your mortgage you are effectively earning the mortgage rate on your savings. And, with the borrow back facility, it’s as though your money was in an instant-access savings account earning that rate. So if you want to buy something costly, or you run into unforeseen expense, the money is at hand.

Redemption Penalty

Redemption penalties do not apply to regular standard variable rate loans – you should be free to chop and change between variable rate loans when you choose as they are not the most competitive rates available. When flexible mortgages were first introduced you could only get them on variable rate loans, so redemption penalties did not apply. Plus while a traditional mortgage lender could charge you a fee if you wanted to pay off a lump of your mortgage (because they had calculated for you paying interest on that lump for a set number of years), that flew in the face of the flexible concept, which actively encourages people to pay off their mortgages as early as possible. Now there are some deals that are truly flexible but do carry short-term redemption penalties. These may be fixed rates or discounted rates, where redemption penalties apply during the special rate period.

Calculating Interest Daily

Fully flexible mortgages have interest calculated daily, and any payments and overpayments are credited to your mortgage account as soon as they are paid, so you are immediately paying interest on a smaller amount of debt. This saves you money in interest charges that would otherwise add up to a significant sum over a number of years. Traditionally, mortgage interest was calculated and applied annually in arrears, so you would be paying interest on the same amount of debt all year, even though you had been gradually decreasing it during that time.