Mortgage Advice - Newbury
Mortgage Advice Thatcham (Newbury)
Our Newbury branch is located in Thatcham at 44-47 The Broadway. Here our professional, friendly mortgage advisers are available to provide mortgage and insurance advice. Why not make an appointment to visit our Newbury branch today for a friendly chat with one of our mortgage advisers or just give us a call.
Help for First Time Buyers in Newbury
With house prices in Newbury well above the average for the UK, it can be a struggle for first time buyers to get a foothold. The Mortgage Hut are here to help first time buyers make that first step on the property ladder. With access to thousands of mortgage deals from both high street banks and specialist providers, we can help first time buyers get the most from their budget.
Newbury - Help to Buy Scheme
If you’re a first time buyer or a homeowner looking to move to a more suitable property but are finding it isn’t possible with just a regular mortgage, the Government's Help to Buy scheme may be able to help you move. It may be possible to purchase a property with just a 5% deposit if you are eligible for one of the Help to Buy schemes.
There are several different options on offer from Help to Buy. The Equity Loan scheme can provide you with a loan (interest free for 5 years) for up to 20% of a new build home’s value, meaning you will only need to find a deposit of 5% and a mortgage of 75%.
The Mortgage Guarantee scheme can help you acquire a higher loan to value mortgage than usual from certain lenders who are able to buy a guarantee from the Government. You can then use this to purchase a new or older property.
Shared ownership is another available option - this involves buying a share in a property and then renting the remaining share. To find out if you are eligible for Help to Buy, contact The Mortgage Hut Newbury and we look at your options.
How to Remortgage Your Home in Newbury
A surprising amount of homeowners are currently on their lender’s standard variable rate. It is very likely that if they were to switch to a new deal, either with their current provider or a new one, they could make a big saving each month on their mortgage payments. If you are on a standard variable rate or are approaching the end of your current fixed deal, it’s time to start looking into remortgaging. With help from a mortgage broker such as The Mortgage Hut, homeowners in Newbury could find a much better mortgage deal and save hundreds of pounds each month!
Releasing Equity from your Newbury Home by Remortgaging
Equity is the share of your home that you own, for example, if your home is worth £300,000 and your mortgage is £220,000, then you have £80,000 equity in your home. The more you have repaid off your mortgage, the more equity you will have. Additionally, those in Newbury, who may have benefitted from house price increases will have found this has also increased the equity they have in their home.
There are many reasons why you may wish to release some of the equity from your home. A common reason is in order to improve your home, for example, redecorate, modernise or perhaps pay for an extension. It’s important that you get plenty of professional advice before remortgaging as by taking on a larger mortgage your mortgage payments will also increase.
A professional mortgage adviser from The Mortgage Hut Newbury can assess your financial situation and suggest the most suitable solution for your circumstances. Contact The Mortgage Hut Newbury to discuss your requirements today.
Mortgages for Buy to Let Investments Newbury
Many people find that investing in property in Newbury can get them a good financial return. The important thing is to get appropriate financial advice in order to secure the best buy to let mortgage and insurance deals.
Buy to Let mortgages are usually available to those who already own their own property and have a good credit rating. You will also need a large deposit as most buy to let mortgages will require a deposit of at least 25%. You need to be aware that fees for buy to let mortgages can be a lot higher than for regular mortgages and also remember to factor in extra costs such as stamp duty which is now 3% higher for buy to let properties.
Both high street lenders and specialist companies offer buy to let mortgages and there are range to choose from on the market. The Mortgage Hut in Newbury have access to these and can assist you in comparing and contrasting deals in order to find the best deal for you. If you are considering purchasing a buy to let property in Newbury or the surrounding area, come and see us at The Mortgage Hut and see how we could help.
The Property Market in Newbury
Home to the well known racecourse, Newbury is a historical town featuring many 17th century buildings. Situated in Berkshire it surrounds the Kennet and Avon canal and is situated close to the North Wessex Downs, an Area of Outstanding Natural Beauty. Newbury is the home to the UK headquarters of Vodafone which is the town’s largest employer.
With stunning nature and wildlife on your doorstep, yet commuting distance from London - you can see why Newbury is a popular place to live. It also benefits from good leisure facilities including a number of top restaurants, gastro pubs and some lively bars. Property-wise there are some lovely period properties on the market including Georgian, Victorian and 1930’s properties as well as some exciting new build developments.The overall average house price in Newbury is £314,763 with prices in Thatcham slightly lower at £277,514. Most property sold last year in Newbury were flats which sold on average for £222,565. In the previous year, Newbury has seen an increase of 11% in its property prices. (Source:Rightmove)
First Time House Buyer?
Looking for the most suitable deal on your first time buyer mortgage -contact us.