Mortgage housing in Rochdale and Rossendale

There's a good chip shop in Norden called The Bridge, and I go there probably about twice a month. It's not far in the car and the drive takes me through some areas of Rochdale and Rossendale. As well as having a decent chip shop, it's got a decent pub (The Horse and Farrier) and is quite a desirable area to live in.

You can Google yourself to find out more about living in Rossendale or Rochdale, Rochdale has many cheap properties and it goes without saying that therefore the area is less affable and monied that the houses and areas of Rossendale. If you search for houses to buy in Rochdale you'll want to secure a good mortgage broker too.

Mortgage brokers aren't just for first time buyers, they can also be of great assistance to when remortgaging a house, moving house or considering buy to let. With the recent increase in interest rates and the abolition of stamp duty, it can be a good time to buy a house for many people.

There are plenty of houses available in Rochdale and Rossendale but towards Christmas the market always slows down. Putting their house on the market can be a New Year's resolution for some people too so keep your eyes open for a bargain in the New Year.

Mortgage in Swinton / Worsley

Question: Hello there - I wonder if you can help me? I'm looking to buy a house in the Swinton and Worsley area of Greater Manchester. I have saved a deposit of £25,000 and am looking to borrow approximately £200,000. I am in full time employment but my credit history isn't the greatest - there are no outstanding debts now, but a few years ago I ran up some debts on credit card which took me a while to pay off.

The house is situated between Leigh and Worsley Road, close to the A580. It is vacant possession. Do you need to know anything else?

Answer: Thanks for your enquiry. You're looking to buy a house in a popular part of Manchester and while Worsley can be very expensive, more affordable properties are to be found in Swinton. I am familiar with both parts of Greater Manchester and can tell you that mortgage competition is fierce.

We can do a lot to get you a good deal as you have a deposit of £25,000 and are in full time employment. There are some additional questions I'd like to ask you about your poor credit history, but don't concern yourself at this part as sometimes it turns out not to be a problem at all.

A popular mortgage broker in Manchester is Manchester Mortgages - who I mentioned in my last blog post (http://mortgagebroker.posthaven.com/mortgage-broker-advice-manchester). They are a good choice and have several decent Google recommendations too. Start by giving them a call and if you need further advice you can always make an appointment to see them.

Buying Flats in Manchester

Manchester net hosting corporation UKFast has announced adjustments at the top as it embarks on the next stage of its growth plans. Buying a prestigious building in the centre of Manchester with flats for accommodation is also high on the radar screen according to independent mortgage broker John Simpson of Mortgage Broker Advice.

The contemporary changes sees the commercial enterprise formally cut up into two hands with present day MD Jonathan Bowers making a lateral pass to move up the company’s speedy-developing employer division, while co-founder Gail Jones takes at the role of managing director to facilitate.

UKFast company has grown hastily and already bills for 43 in keeping with cent of UKFast’s turnover from simply four in line with cent of the purchaser base.

Jonathan Bowers, stated: “inside the past five years we've seen the enterprise move from power to strength. To retain this momentum, we've remortgaged and we’re taking the interesting step of splitting into elements, to make certain that the clients of both regions get the care and interest they require.”

Lawrence Jones, CEO of UKFast, says: “For the remaining six months we had been recruiting for an MD for enterprise and we’ve visible over 200 candidates, none of whom I felt have been as properly positioned as Jonathan to take company department forward. He knows our customers fantastically properly and is aware our tradition higher than all and sundry.

“UKFast continues to grow regardless of pressure from AWS and Azure, and with the business enterprise facet of the commercial enterprise liable for 43%, I realised the perfect state of affairs could be for Jonathan to take employer and Gail to take the position of managing Director of UKFast.”

Gail Jones says: “throughout all our agencies we’ve grown to more than the £50m turnover mark and i'm excited to tackle one of these manufacturers to ensure our clients get exactly what they need, whilst pushing the business to the subsequent degree.”

“She founded the commercial mortgage enterprise with me in 1999 and has been with me every unmarried day when you consider that. She has all the trends that I value in a pacesetter; she is affected person, enormously clever and he or she’s a notable listener. I understand that with Gail alongside Jonathan on the helm the two of them will make a powerful crew.”

Mortgage Approvals at All Time Low


News from Reuters reports that UK mortgage approvals are currently at the lowest they've been for 2 years (http://uk.reuters.com/article/uk-britain-lending-idUKKCN11Z0TC), why is this?

Granted, house prices are expensive, and there is a lot of debt around but debt hasn't traditionally been a big 'make or break' reason for people not to apply for mortgages.

People's apparent willingness to accept debt has been noteworthy of late. The British people seem to embrace debt with open arms - at least during boom times. The last boom years of 2003 - 2008 saw lots of 'free money' being given away - this 'feel good' attitude persuaded many of us to take on debt, and this study regarding the amount of uk household debt makes interesting reading.

People in the UK seem to still want to buy houses - in Europe this is very different with many more people willing to rent property. This is not necessarily a good idea on the part of Europe in my opinion, as what as house gives you (once you eventually own it) is an asset that you can use in later life. Renting a property gives you no such advantage.

With money being tight at the moment it's imperative to find a mortgage that works for you as cheaply as possible. Don't go to banks, don't go to building societies, they will only sell you their own products, use an independent mortgage broker who will find you the best deal. Doing this one thing will save you  thousands of pounds over the lifetime of your mortgage.


Does a poor credit rating prevent a mortgage ?

A common question mortgage advisers get asked is about credit scores and if a bad credit rating can prevent getting a mortgage to buy a house. Here's a typical question:

"I'm interested in seeing if I can obtain a mortgage but am worried my credit rating may be a problem.

Please could I make arrangements to speak to someone in this regard."

So in this enquiry the person obviously has some problem with some form of debt. Perhaps they are young and have to repay their student debt, or perhaps during the boom years of the noughties they overstretched themselves financially and to bridge the gap took out loans on 0% credit cards which they are now struggling to repay.

The subject of debt is of course huge, with many UK workers now on the minimum wage and zero hours contracts, what hope is there for buying a house for people in this position? The reaction has been that many people are now forced to rent houses because they can't afford the deposit to buy a house. The hour prices on the property market are also inflated as many people have chosen to invest in bricks and mortar rather than trust their money on the stock market. This has created a house price bubble as too many people, a second house is their investment and was bought when house prices were high. This keeps house prices (unrealistically) high as no one wants to loose money on their investment.

So, buying a house in todays Britain is tricky. It's tricky is you're in full time employment and have a good credit history. It's even more difficult if your circumstances aren't ideal and you think your credit rating may be a problem. Fortunately there is good news: mortgage advisers like Manchester Mortgages (http://manchestermortgages.co.uk/) are experts at finding mortgages for people with poor credit ratings. Most high street lenders will not consider many people with poor credit histories for a mortgage: this is a mistake. It's a mistake because people are increasingly running short of money and are having to work harder to make ends meet. This produces the follow-on effect that fewer people will be eligible for high street mortgages, this presents a huge opportunity for the likes of Manchester Mortgages and similar companies.

The difference an independent mortgage lender can make is huge, and in my opinion the days of the high street mortgage business model are over: these services are old and out-dated. An independent mortgage adviser will look at hundreds of mortgages from a huge number of different lenders and will also speak to them personally, describing people's credit situations (see the page specific to bad credit mortgages at http://manchestermortgages.co.uk/poor-credit-mortgages/) in detail and filling in a mortgage application with the correct information to ensure that a mortgage offer is given rather than rejected.

So in summary then, having a poor credit rating will certainly cause difficulty in getting a mortgage, and the best way of getting around the problem is to use an independent broker as described above.