|
Humberstones can help with any of the following:
- Main Home - Loans up to 125% of the purchase
price of your new home.
- Second Home or Holiday Home - Does your
work take you away from home during the week and you need somewhere
to stay, or do you want a place by the sea? Mortgages are available
for second homes and for holiday homes.
- Right To Buy - Have you been offered the
option to purchase your council property at a discounted purchase
price? We can help you buy it and give you extra cash for home
improvements.
- Shared Ownership - Buy a share in a property
and rent the rest from a Housing Association. This enables people
with a low income to purchase a larger property than they could
otherwise afford.
- Buy To Let - Loans available up to 85%T
of the purchase price. Buy a property to rent out and benefit
from the additional income and increase in the property value.
- Let To Buy - Want to move house but don't
want to sell your existing home? Rent it out and purchase another
property - loans available up to 95% of the pufhase price of your
new home.
How Much Can I Borrow?
Only borrow as much as you can comfortably afford
to repay. As a rule, take 3 times the main salary and 1 times the
second salary OR 2.5 times the joint salaries, whichever
is the greater.
| Example: |
Income 1 |
= |
£15,000 |
| |
Income 2 |
= |
£10,000 |
| |
Combined Income |
= |
£25,000 |
| |
|
|
|
| Option 1: |
3 x £15,000 |
= |
£45,000 |
| |
1 x £10,000 |
= |
£10,000 |
| |
Total Loan |
= |
£55,000 |
| |
|
|
|
| |
OR |
|
|
| |
|
|
|
| Option 2: |
2.5 x £25,000 |
= |
£62,500 |
| |
Total Loan |
= |
£62,500 |
What Costs Are Involved?
Use this checklist to identify the cost of purchasing
or remortgaging. We can offer guidance with the potential costs
involved in buying, selling and remortgaging.
| Legal Fees: |
|
| Solicitors Fee |
£ |
| Land Registry/Local Search Fee (disbursements) |
£ |
| Stamp Duty (if applicable) |
£ |
| |
|
| Estate Agents: |
|
| Estate Agents Fee (if applicable) |
£ |
| |
|
| Lenders Fees: |
|
| Valuation Fee |
£ |
| Mortgage Indemnity Guarantee Premium (if applicable) |
£ |
| Arrangement Fee (if applicable) |
£ |
| |
|
| TOTAL: |
£ |
Remember, Humberstones have access to over 150 lenders,
and large savings can be made.
|
