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Humberstones can help with any of the following:
- Refinance - Move your mortgage to another
lender and benefit from the reduced monthly repayments or the
peace of mind of a fixed rate.
- Home Improvements - Loans up to 125% of
the property value.
- Debt Consolidation - Reduce your outgoings
by remortgaging to pay off credit card balances and personal loans.
Loans available up to 125% of the property value.
- Funds for Business Purchase and Business Use
- Loans available up to 90% of your property value for business
use.
Free remortgage packages are available.
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.
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