Our Services.
Explore our broad range of services to help you achieve your mortgage ambitions – whatever they may be.
What we do
Advanta Mortgages are a highly experienced independent mortgage brokers specialising in residential and commercial mortgages. We are in the unique position to research the entire market place to find you the best lenders and terms for your circumstances.
We understand that buying a new home is often the most important decision you will make in your lifetime and Advanta Mortgages work tirelessly to ensure that this is as simple and stress free as possible for you.
Moving House
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Moving House Section
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Remortgage
IN THE CURRENT economic climate, many homeowners may be unsure about when is the right time to look for a new mortgage. Is the time right now or should you remain with your current mortgage? It’s a very important decision that could impact your finances by thousands of pounds every year.
Remortgaging is the process of getting a new mortgage on your existing property, either with your current or a new lender.
More often than not, the main reason to remortgage is to save yourself some money, but it’s not the only one.
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Buy-to-Let
There are an estimated 3 million buy-to- let landlords in the UK, who choose to invest in property for long-term capital growth, but also want to make money in the short term from rental income. If you are considering becoming a buy-to-let landlord, here are a few things you need to know.
Being a buy-to-let landlord comes with a fair number of obligations and responsibilities. These include tenancy agreements, tenancy deposits, repair and maintenance and more.
HOW DO BUY-TO-LET LANDLORDS MAKE MONEY?
As a buy-to-let investor, you will either be relying on capital growth (increase in the value of the property over the medium to long term) or rental yield (income generated from the property expressed as a percentage of the property value). You’ll need to work out which of these has the greater advantage.
Rental yield – the money you make from the rent you charge to tenants. You’ll need to pay income tax on this money.
Capital growth – money you make by selling the property at a higher price than you paid for it. You’ll need to pay capital gains tax on this money.
WHAT IS A BUY-TO-LET MORTGAGE?
If you can’t buy your investment property outright, you’ll need to apply for a mortgage. There are specific mortgages on offer for people who plan to let out their property, and unsurprisingly, these are called buy-to-let mortgages, or BTL mortgages.
In many ways they are like regular mortgages and have a similar application process: you’ll need a good credit rating together with a suitable deposit and you’ll usually apply for an Agreement in Principle before you put in an offer on a property.
IMPORTANT WAYS THAT BUY-TO-LET MORTGAGES ARE DIFFERENT
There are various differences between a residential and a buy-to-let mortgage, and they start with the way your affordability is calculated.
• You’ll probably need a bigger deposit
(usually between 25% and 40% of the property value)
You’ll normally only pay off the interest each month, not the capital. That means you’ll need to pay off the capital at the end of the mortgage term. Sometimes landlords will sell the property to do this, or you can use other funds to pay it off.
• They usually have higher fees than mortgages for owner-occupiers
• The interest rates are also often higher
• The eligibility requirements can be stricter
WHO CAN GET A BUY-TO-LET MORTGAGE?
You’ll usually need to own a home of your own already (including a home you have a mortgage on). Like most other loans, your finances need to be in order. You’ll need a good credit record, and usually a regular
income of £25,000 or more.
ARE YOU READY TO BECOME A BUY TO LET LANDLORD?
Ask yourself these questions to help decide if this is right for you:
• Are you interested in property, and keen to invest your money here rather than in the stock markets?
• Are you willing to put some time into the process in exchange for the potential financial reward?
• Might you enjoy the process of property hunting and home improvement?
• Are you confident working with numbers and calculating things like rental yield?
• Do you understand that – like with any investment – there is risk involved, and there can be unexpected costs?
IF YOUR ANSWERS ARE ‘YES’, YOU’RE PROBABLY READY TO TAKE THE NEXT STEP.
Despite the UK Government continuing to introduce policies aimed at making it difficult for buy-to-let landlords to make significant profits, if approached in the right way buy-to-let can still be an attractive investment opportunity for anyone who is able to purchase a second home, or build a portfolio, and rent their properties out to tenants.
WANT TO DISCUSS YOUR
BUY-TO-LET MORTGAGE OPTIONS
WITH ONE OF OUR TEAM?
If you are looking to buy a property to rent out or add another investment to your property portfolio, there are lots of things to consider.
Whether you’re looking to purchase your first property to let, or expanding your current portfolio, for further information or to discuss your requirements, we’re here to help you.
First-Time Buyer
THERE IS A WEALTH of information to take in when buying your first home, and in the current market lenders are far stricter with lending criteria for first-time buyers. Most people dream of owning their own home, and usually, getting a mortgage is the only way to do it.
Getting onto the property ladder should be one of the most exciting things you’ll do but there is so much to think about, including finding the right mortgage.
HELP TO BUY SCHEME IN ENGLAND
The Government’s current Help to Buy scheme in England will end in March 2021 and a new one, just for first-time buyers, will start on 1 April 2021. Still with just a 5% deposit and a 75% mortgage, first-time buyers may be able to borrow up to 20% of the cost of a new home from the Government, or 40% in London.
The amount you can spend on your home will depend on where in England you’re looking to buy.
TIPS TO BOOST YOUR BORROWING POWER
If you’re planning to buy for the first time in 2021, it’s important that you’ve got your finances in order. It’s not just your income and deposit being scrutinised when taking out a mortgage.
MANAGE YOUR DEBTS WELL
Lenders want to see that you’re a good borrower, so for as long as you can before applying, make sure you’re paying debts and bills on time. Stay out of your overdraft and avoid emergency loans. And try not to apply for credit either – like a new credit card, or a mobile phone or car loan.
START SPENDING SENSIBLY
It also helps to prove that you can live on a budget and you know what your outgoings are. Start to track what you’re spending monthly on essentials, bills, loan repayments and any other financial commitments. Then you’ll be able to prove you know your finances inside out when you get to your mortgage interview.
STAY IN YOUR JOB
Lenders are often put off if you’ve been in your job for a very short period (six months or less). So, if you’re planning to buy a house, don’t think about switching careers at the same time. You can do that after you’ve secured the mortgage and moved in.
TOP UP YOUR DEPOSIT
Most lenders typically require you to have
a deposit of at least 5% of the value of the property you intend to buy, but 10% is even better. Lenders offer better rates the bigger your deposit is, and they usually improve at certain levels (so, if you have a 9% deposit saved, it’s definitely worth trying to break
that 10% barrier).
CHECK YOUR CREDIT REPORT
You can get your report from a credit reference agency, like Experian, for £2, or free from ClearScore. Occasionally they have errors, or you’ll see that your credit is still linked to an ex-partner or ex-housemate, which is affecting your score. You want all these problems corrected before you start a mortgage application.
GET ON THE ELECTORAL ROLL
You might not know it, but if you’re not registered to vote, or you’re still registered at an old address, it can affect your chances of getting a mortgage. Banks and lenders use the electoral roll for basic identity checks, so make sure your details are up to date.
If you’ve followed all of these recommendations, all that’s left to do is to
get your paperwork together and put in your application. You could soon be on your way to the home of your dreams.
HELPING YOU TO SECURE YOUR HOME AND MORTGAGE
Buying your first home is an exciting time and likely to involve some of the most important financial decisions you’ll ever make. We’re here to help and the process doesn’t have to be difficult.
High Value Homes in UK
If you’re looking for high value mortgages in the UK, it can be difficult to know where to start. The UK mortgage market is a complicated one, with many regulations and factors to consider.
And of course, if you have a complicated financial situation – such as receiving multiple income streams, large bonuses, or working as a self-employed person – it becomes even harder to access the best mortgage deals.
Whether you want to compare mortgages, find the best mortgage rates, work out ‘how much can I borrow?’ or simply establish what mortgage deals are available to you, Advanta Mortgages can help.
Our brokers are highly experienced in sourcing mortgages for high net worth clients from around the world, meaning we understand the nuances that exist across the UK mortgage market
We have further information for high value homes in the UK, including what today’s best rates are, how much it could cost and whether you are eligible for these mortgages.
Specialist Mortgages
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Specialist Mortgages Section
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Insurance
Advanta Risk are experts in commercial and personal insurances. Their aim is to ensure you have complete peace of mind with the right insurance cover provided by an Insurer that has the ability and desire to pay your insurance claims quickly and efficiently.
Our clients are provided with the highest quality independent, expert advice to ensure you get real value for money from your insurance arrangements by combining peace of mind with our expert service and guidance.
Our highly experienced and qualified team will work with you to review your existing plans and requirements to ensure that appropriate cover is in place.
The new Advanta Risk website will go live in the first quarter of 2021 and we are very excited for you to see it. In the meantime, our team are on hand to assist with your insurance needs, please click below and complete our short form and one of our experienced brokers will get in contact.
Advanta Wealth
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Advanta Wealth Section
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Sed rhoncus felis sit amet posuere fringilla. Etiam condimentum dignissim sem. Suspendisse elementum convallis nibh, ac accumsan libero dignissim nec. Sed et maximus sapien. Maecenas cursus efficitur neque, sit amet hendrerit ipsum varius id.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nunc maximus felis sit amet magna pretium fermentum. Nulla risus nisi, cursus et libero quis, pharetra dapibus justo. Donec ornare justo augue, quis sollicitudin leo vehicula eu. Curabitur vel dolor velit. Fusce consectetur commodo dictum. Proin non imperdiet lacus, a condimentum massa. Donec varius lobortis odio quis rutrum. Sed rhoncus felis sit amet posuere fringilla.
We don’t believe that one size fits all, so let us see how we can help you – get in touch.
