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Wednesday 5 May 2021
Wednesday 5 May 2021
Wednesday 5 May 2021
Wednesday 5 May 2021
At Barrett Mortgages, we are a trusted mortgage broker based in Bournemouth, Dorset. We provide tailored mortgage solutions for everyone, including first-time buyers, the self-employed, buy-to-let investors, and those looking to remortgage. Additionally, we offer insurance products from a carefully selected range of reputable providers.
Our company was established by Darren Barrett in 2009 during one of the most challenging periods for the housing market. Since then, we have built a reputation for delivering clear, trustworthy, honest, and upfront advice. Unlike large corporates with high-pressure sales tactics, we take a personalised approach, focusing on the individual needs of our clients.
Why Choose Barrett Mortgages?
Expert Team: All of our staff are fully qualified, experienced, and committed to providing the best possible experience for our clients.
No Hard Sales: We promise no pushy sales tactics, allowing you to make informed decisions without feeling pressured.
Strong Reputation: Our success relies heavily on referrals, which we earn by delivering outstanding service.
Comprehensive Support: We not only help you secure a mortgage but also provide practical advice months before you even apply.
Tips for Preparing to Apply for a Mortgage
When preparing to buy a property, a little planning can go a long way. Here are some of the tips we share with our clients:
Save as Much as Possible: Aim to build a substantial deposit, which not only reduces your loan amount but also demonstrates financial responsibility to lenders.
Cut Unnecessary Expenses: Review your monthly outgoings and eliminate subscriptions or expenses you don’t need.
Reduce Debt: Pay off as much debt as possible before applying for a mortgage. Lenders prefer to see minimal or no outstanding obligations.
Maintain Stable Employment: A steady job with regular income reassures lenders of your ability to meet monthly mortgage payments.
Government Help to Buy Equity Scheme
First-time buyers can benefit from the Help to Buy Equity Scheme, which provides a government loan of up to 20% of a property’s value. This reduces the mortgage amount you need, making it easier to get on the property ladder. Key details include:
Interest-Free for 5 Years: No interest is charged on the equity loan during the first five years. Interest payments begin in year six.
Regional Price Caps: The scheme has price caps based on the location of the property.
Additional Costs: Buyers should still budget for stamp duty (if applicable), solicitor fees, surveyor costs, and any unexpected expenses.
Be Prepared for Additional Costs
Buying a home involves more than just securing a mortgage. It’s essential to have funds set aside for:
Stamp Duty: Depending on the property price and applicable rules, you may need to pay this tax.
Solicitor and Surveyor Fees: Necessary for the legal and structural aspects of the purchase.
Emergency Expenses: It’s wise to keep a financial cushion for unforeseen issues, such as a boiler replacement or urgent repairs.
Get in Touch with Barrett Mortgages
If you’re ready to take the next step in your property journey or want expert advice tailored to your circumstances, contact Barrett Mortgages. Whether you’re a first-time buyer or looking to remortgage, we’re here to help you achieve your goals with confidence and ease.
At Barrett Mortgages, we are a trusted mortgage broker based in Bournemouth, Dorset. We provide tailored mortgage solutions for everyone, including first-time buyers, the self-employed, buy-to-let investors, and those looking to remortgage. Additionally, we offer insurance products from a carefully selected range of reputable providers.
Our company was established by Darren Barrett in 2009 during one of the most challenging periods for the housing market. Since then, we have built a reputation for delivering clear, trustworthy, honest, and upfront advice. Unlike large corporates with high-pressure sales tactics, we take a personalised approach, focusing on the individual needs of our clients.
Why Choose Barrett Mortgages?
Expert Team: All of our staff are fully qualified, experienced, and committed to providing the best possible experience for our clients.
No Hard Sales: We promise no pushy sales tactics, allowing you to make informed decisions without feeling pressured.
Strong Reputation: Our success relies heavily on referrals, which we earn by delivering outstanding service.
Comprehensive Support: We not only help you secure a mortgage but also provide practical advice months before you even apply.
Tips for Preparing to Apply for a Mortgage
When preparing to buy a property, a little planning can go a long way. Here are some of the tips we share with our clients:
Save as Much as Possible: Aim to build a substantial deposit, which not only reduces your loan amount but also demonstrates financial responsibility to lenders.
Cut Unnecessary Expenses: Review your monthly outgoings and eliminate subscriptions or expenses you don’t need.
Reduce Debt: Pay off as much debt as possible before applying for a mortgage. Lenders prefer to see minimal or no outstanding obligations.
Maintain Stable Employment: A steady job with regular income reassures lenders of your ability to meet monthly mortgage payments.
Government Help to Buy Equity Scheme
First-time buyers can benefit from the Help to Buy Equity Scheme, which provides a government loan of up to 20% of a property’s value. This reduces the mortgage amount you need, making it easier to get on the property ladder. Key details include:
Interest-Free for 5 Years: No interest is charged on the equity loan during the first five years. Interest payments begin in year six.
Regional Price Caps: The scheme has price caps based on the location of the property.
Additional Costs: Buyers should still budget for stamp duty (if applicable), solicitor fees, surveyor costs, and any unexpected expenses.
Be Prepared for Additional Costs
Buying a home involves more than just securing a mortgage. It’s essential to have funds set aside for:
Stamp Duty: Depending on the property price and applicable rules, you may need to pay this tax.
Solicitor and Surveyor Fees: Necessary for the legal and structural aspects of the purchase.
Emergency Expenses: It’s wise to keep a financial cushion for unforeseen issues, such as a boiler replacement or urgent repairs.
Get in Touch with Barrett Mortgages
If you’re ready to take the next step in your property journey or want expert advice tailored to your circumstances, contact Barrett Mortgages. Whether you’re a first-time buyer or looking to remortgage, we’re here to help you achieve your goals with confidence and ease.
