Aspire Estate Agents are proud to recommend
Based in the south of England, LB Mortgage Solutions are firmly positioned as a premier provider of mortgage and protection advice to both individual homebuyers and buy-to-let clients alike.
We understand the major financial decisions you make when purchasing a property will have significant and life-changing consequences. It is therefore essential that you seek professional advice from people you can trust.
LB Mortgage Solutions work in partnership with our clients and professional advisers, such as solicitors and surveyors, to meet their financial aspirations, and we recognise the importance of providing long-term, ongoing assistance and guidance.
Moving home is considered to be a stressful time by many, but it does not need to be. At LB Mortgage Solutions, we can guide you through the process and offer expert mortgage advice specific to your circumstances.
When researching your options, before making a recommendation to you, we will assess the impact of any penalties and the ability to move your current mortgage and any savings that could create.
We will also review the offering from the rest of the mortgage market so you can rest assured our recommendation will be the most suitable for you.
When searching for your dream home, it is also important to know what your upper purchase price limit is. This can vary considerably between different lenders, even those on your local high street. We can complete an affordability assessment to make sure you understand the price range available before you start to look for your new home to avoid disappointment at a later stage.
We can also help you understand the cost of moving, stamp duty and the legal fees you may encounter.
First time buyers
If you’re a first-time buyer, you will need a deposit before looking at properties.
Generally, you need to try to save at least 5% to 20% of the cost of the home you would like. Saving more than 5% will give you access to a wider range of cheaper mortgages available on the market.
It’s also becoming more common for a deposit to come from a family gift.
Mortgage lenders will check that you can afford the mortgage and ‘stress test’ your ability to make your payments if interest rates were to rise or if your circumstances changed. As part of the mortgage application process, you’ll need to show the lender evidence of any outgoings you have and prove your income. This assessment of affordability can differ greatly between lenders and, when looking to maximise your borrowing power, it's important to consider the whole of the market.
We can help you find the lender that is right for your circumstances and understand the various mortgage types available and the differences between them. Cutting through the jargon and understanding what the real life impact will be to you is essential to choosing the right mortgage.
Buy to let
Whatever your reasons for buying a property to let, you’ll want to find the right mortgage deal.
Whether you want to arrange a mortgage on a single property or have a portfolio of properties, we can advise you on the most appropriate deal for your requirements. A buy-to-let mortgage is a mortgage for purchasing residential property with the specific aim of letting it to tenants.
There have been some significant changes in the buy-to-let market in recent times, directly affecting the costs to purchase property and the way in which the amount of tax you will pay is calculated. These changes have impacted on the way lenders assess the suitability of new mortgage applications, making the market and options more complex.
Due to the recent changes in how tax on rental income is calculated, there has been a growing trend to purchase buy-to-let properties in a limited company structure. This can be an efficient way to hold property, but there are also restrictions which mean this isn’t a suitable solution for everyone.
It’s essential to do your research before taking out a buy-to-let mortgage to purchase a rental property and deciding on whether to hold it personally or in a company. You also need to be confident that your rental income will comfortably cover your mortgage and all your other expenses. At LB Mortgage Solutions, we make sure we take the time to understand your needs, goals and preferences before we make any recommendations.