Mortgage Services

Mortgage Types

First Time Buyers

If you're looking to buy your first home, mortgage advice might be confusing and daunting. Our first-time buyer mortgage assistance at Dream Bricks Financial Ltd can help you comprehend the procedure and help you realise your dream of purchasing your first home.

Purchasing a house is likely to be the most significant financial commitment you will ever make, and many first-time homebuyers are understandably anxious about the commitment and risks that are associated.

Our courteous professional mortgage consultants will take the time to understand your requirements and concerns, and will walk you through the whole process from start to finish.

We will examine your financial situation, including your income, debt, day-to-day outgoings, employment, and the amount of your deposit, to determine how much you can afford to borrow now and in the future. We'll walk you through the many sorts of mortgages we believe are most suitable for you, as well as the lenders that are accessible to you.

We'll also make sure you understand your mortgage offer and the long-term financial consequences of that arrangement, such as how it could be impacted by changing conditions like interest rates or overpayments.

We have access to promotions and incentives that may include cashback on your mortgage, lower mortgage interest rates, or lower amounts of deposit against the value of your house. We understand that the first-time mortgage advice we provide you as a new home buyer is critical to assisting you in finding the most suitable mortgage and achieving your goals, and we take that responsibility seriously!

Flexible Mortgages

If you fail to make mortgage payments, your home may be repossessed.

On a daily basis, flexible mortgages recalculate the outstanding capital and interest (the amount you owe). This enables you to make overpayments when you have extra cash and see an instantaneous reduction in your loan balance.

Some also enable you to make underpayments when money is tight, which increases the amount of interest you must pay in the long run.

They may even let you to take repayment holidays, which is a total break from making payments as long as you have a reserve amount of money in your account.

Any unpaid interest will be charged to the balance of the mortgage; any overpayment will be deducted. Some flexible mortgages allow you to borrow more cash up to a certain maximum.

Mortgage Rules (MR)

If you fail to make mortgage payments, your home may be repossessed.

The Financial Conduct Authority (FCA), the financial services sector regulator, has issued new guidelines for mortgage advisers and lenders in order to streamline the mortgage application process.

Previously, some people were permitted to get mortgages that they could not afford. As a result, they either fell behind on their payments or lost their houses.

The Financial Conduct Authority (FCA), the financial services industry regulator, has issued a new set of guidelines for mortgage advisers like us and lenders in order to improve the mortgage application process and avoid the difficulties that have occurred in the past. Your lender must confirm that you can afford your repayments now and in the future under the new guidelines. They will require information regarding your income and expenses to do so. You must notify them if you foresee your income and outgoings to change in such a way that you will have less money to spend on mortgage payments.

You will also need to provide proof of your income to your mortgage lender.

Offset Mortgages

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

With an offset mortgage, you may utilise your savings to lower your mortgage principal and interest payments.

If you borrowed £200,000 but had £50,000 in savings, you would only be paying interest on £150,000.

Offset mortgages are normally more costly than conventional arrangements, but they can lower your monthly payments while still allowing you to save.

Remortgages

• Is it time to take advantage of historically low-interest rates?
• Is your existing mortgage still appropriate for your situation?
• What mortgage is most suitable for your present situation?

These are some of the questions that Dream Bricks Financial Advisers have encountered. We understand that not only do markets fluctuate but so do your particular circumstances. Our advisers will provide you with honest and trustworthy guidance since they have access to a broad variety of mortgages from our lenders.

Self Build Mortgages

Money is released in phases as the construction advances using a self-build mortgage. Some lenders may loan you money to buy land, usually up to 75% of the purchase price or value (whichever is lowest).

Following that, the funds for the construction are provided in phases. Depending on the lender, these stages might be set or adjustable,

The money can be released in two ways during the construction process: at the conclusion of each stage (known as arrears stage payments) or at the beginning of each stage (known as stage payments) (advance stage payments).

Money is issued once a valuer has visited the site and certified the completion of the stage with the arrears stage payment procedure. This may pose cash flow issues for certain self-builders.

The advance stage payment technique operates in the other direction, with funds issued at the commencement of a stage, before to the start of work. This strategy has gained popularity since it generates positive cash flow during the construction process, making it simpler to stay in your present home while the project is underway.

The stages of construction differ depending on whether you're building a traditional (brick and block) home, a wood frame home, or repairing or converting an existing home.

Buy to Let Mortgages

There's a lot more to it than simply bricks and mortar.

Buy to Let (BTL) mortgages allow individuals to make a long-term investment by utilising rental income as a source of income as well as the property's capital growth. The benefit of a BTL mortgage is that it allows you to earn enough money from rent to satisfy your mortgage payments while the value of your home rises. The cost of insurance, general maintenance, and property preservation can all be covered by third-party rental income. A BTL property can not only add value to your portfolio, but it can also act as a retirement haven later in life.

Whether you're searching for a second source of income or want to diversify your investment portfolio, it's a good idea to speak with a good buy to let mortgage advisor. Our mortgage advisors can guide you through the various mortgage possibilities and help you choose the most suitable one for you. We can help you find the most suitable Buy to Let mortgage for your needs by linking you with our wide network of banks and private lenders, whether you're a property investor, developer, or landlord.

What Is A Buy To Let Mortgage and How Does It Work?

Two types of BTL Mortgages:

• Buy To Let Mortgage for Individuals
• Buy To Let Mortgage for Limited companies

A Buy to Let mortgage is for people who desire to invest in real estate. Many property investors, developers, and landlords come to us with the intention of purchasing a property and renting it out to tenants. This is also known as a landlord mortgage, and it allows you to rent out your house to renters, students, or as a vacation rental.

The buy-to-let mortgage market is competitive, so specialist assistance is necessary. Buy-to-let mortgage interest rates and packages might differ from those for a primary residence and are generally more expensive. Lenders may see these mortgages as greater risk or regard them as business transactions, requiring a larger deposit in exchange for a lower loan to value rate. You should also be mindful of the tax ramifications of property investment, as Stamp Duty Rates are higher.

Whether you are purchasing your first Buy to Let home, expanding your portfolio, or remortgaging, our specialised expertise can assist you in finding the most suitable Buy to Let mortgage for you and your unique circumstances.

The Financial Conduct Authority does not regulate some buy-to-let mortgages.

What Are the Benefits of a Buy-to-Let Mortgage?

There are FOUR main differences from traditional mortgages

• Interest-only mortgage (no need to pay capital with loan amount- hence lower monthly payments)
• You will be required to repay the entire mortgage loan amount at the end of the mortgage term
• Affordability mainly based on rental income (certain circumstances uses top-slicing - using client’s affordability
• can extend mortgage term beyond retirement age