Davis & Co Financial Solutions Ltd

Davis & Co Financial Solutions Ltd updated their business hours.

Davis & Co Financial Solutions Ltd updated their business hours.

It’s been around for ages and has helped a huge amount of people buy their home…but the H2B scheme is coming to an end next year. So with that on mind here is some key information and dates you NEED to be aware of if you are looking to use it.

The scheme is ending on the 31st March 2023, however you DON’T have until then to buy your property.

You NEED to have had your purchase agreed and the application made for the H2B by the 31st December 2022 and MUST complete by the 31st March.

If you MISS these deadlines you WILL MISS OUT.

So if you are a FTB planning on buying and using the H2B scheme you don’t have as much time left as you may have thought.

This coupled with the time it takes to find the right property and the demand and amount of other buyers out there competing with you…you certainly don’t want to be leaving it too late in the day.

So get those dates in your planner.

'My bank said I had to quadruple my mortgage payment or sell my home' — The Telegraph

5 REAL TRUTHS that you need to know about the “stories” like this from our beloved press…read on (especially if you have an interest only mortgage)

1. Being on an interest only mortgage does NOT mean you are typically on a lenders SVR or need to be because you can’t remortgage. They work in the exact same way as any mortgage in the way that you can have a fixed rate/tracker rate mortgage deal, when that deal comes to an end you can either look to remortgage to a new lender for a new deal, or, you can simply complete a product transfer/switch with the existing lender to secure a new deal (without the need for new underwriting and criteria).

2. The mortgage payments being talked about in this article are NOT being quadrupled or being charged at a special high rate…simply, if you’re mortgage is interest only, you will NOT be repaying the capital on the mortgage, therefore to switch it from interest only to repayment will mean you WILL pay more as you are now paying it back…now if you are doing this over a shorter period then yes…it’s going to cost more.

3. There ARE lenders that will offer mortgages to clients that are over the age of 70,75 even 80. You will just need to speak to a broker/specialist that has the ability and access to place you with them.

4. Interest only mortgages have their place, BUT…this has never been to just mean that you have a cheaper monthly payment for your mortgage. They are designed to give flexibility for the person to be able to pay less for the mortgage payment over a repayment mortgage, but also to be able use the funds that you would have used to repay the mortgage to be able to invest/save elsewhere (eg. In your Pension, in an ISA etc). They require a “repayment vehicle” and in a lot of instances this includes sale of the property…therefore when the mortgage term ends, the lender asking for the property to be sold to repay the mortgage is simply them asking you to do what you said you were going to do.

5. The responsibility of making sure that the “repayment vehicle” is adequate, remains on course and will do what you need it to do is….yours. So it’s important to make sure it’s going to plan by reviewing it regularly.

In summary, The 3 biggest takes from a “story” like this one…

1. Get the right advice!
2. The importance of reviewing your mortgage on a regular basis, whether it’s interest only or repayment.
3. The press tell “Stories” and the content is more often than not a complete load of 💩

'My bank said I had to quadruple my mortgage payment or sell my home' — The Telegraph Hundreds of thousands of 'pensioner mortgage prisoners' may be forced to sell

Anyone looking for or know anyone that is looking for a lovely 3 bed house to buy? I have a client in the Cissbury Chase development off of Bolsolver Road looking to sell. Not on the market and not being sold via an estate agent so nice and simple negotiation without all the ‘blind bidding’ nonsense.

Message me for full details and to arrange a viewing.

Can you imagine leaving your family without a secure regular income? Without the ability to pay the rent or a mortgage to pay each month as well as council tax, utility bills, food, clothing, childcare, transportation etc etc etc…

The sad truth is that It CAN and it DOES happen.

It doesn’t give you notice of it happening either, and in that moment it can rob your family of their world…

The unfortunate part of life is that there’s nothing you can really do about it…but…YOU CAN make sure it doesn’t rob them of their future as well.

Having life insurance won’t make you invincible or bring you back, but IT WILL quite literally save their lives and their futures.

Surely they’re worth it?!

If they are, and you don’t have any protection…get in touch and let’s help you get the right cover sorted. We are experts in protection and have been helping people with this since 2004. Our advice and service is completely FREE for this and we have access to a large range of providers to ensure we can match your needs to the right policy and price.

Want to know more…get in touch. Always happy to answer any questions. 👍

What price would you put on your children's future? With Single Wills from £79 and Joint Wills from £149 we can help you to make sure that if something happened to you, then it would be YOUR CHOICE and NOT the Local Authorities as to who you would want to take care of and bring up, the most precious people in your life.

What are you going to choose?

When will you look to review your mortgage now or later?

If you left it last year, then yes, you missed out…but the next best time to review it is now, are you going to miss out again or wait and gamble in the hope that it comes back down?

Stick or twist?

Because it’s important to us to make sure all our clients and their families are properly looked after both now and in the future, we are providing a FREE Will writing service via our sister company Davis & Co Wills & Estate Planning for each and every client when they arrange their mortgage with us.

Can’t afford it? Or don’t value it? Which one is it?

If you lost your income next month because of an accident to illness that stopped you from being able to do your job and you didn’t have income protection…you can probably kiss goodbye to your car, and possibly your home as well.

I get it, the cost of living is on the rise, everything is costing more…but that’s all the more reason to make sure your income is safe and in turn, your home (owned or rented) Sick pay only stretches so far and most people don’t even fully know what they would get if they were off and for how long.

It’s a lot easier to find an extra £10/20 a month now to protect your income than it is to find the £1500+ a month later when it’s gone.

What’s your fall back plan? Have you got one? Is it still relevant?

So interest rates are on the way up again…but what does that actually mean for you and your mortgage?

Well the good news is that if you are currently on a fixed rate, NOTHING will change for you. Your rate and payment will stay the same. HOWEVER…If you are coming towards the end of your current deal and are less than 6 months away from it finishing then you can secure and lock in a new rate NOW before they go up any further.

However for those of you who are on a tracker or variable rate, then your payment and rate are about to increase. Which means your outgoings are going up again…so unless you are happy paying over the odds for your home…GET IT SORTED

(and if you are on SVR regardless of the Bank of England…you are paying more than you need to for your mortgage and just throwing your money away)

Either way…DON’T PANIC…there are all sorts of great options available for each persons requirements.

If you have any questions or worries, or even just want to chat about your own circumstances…just drop me a line.

Jon

Despite most of the smoke and mirrors used on social media by so many in the industry to make you think that it never goes wrong…with slow underwriters, down valuations, conditional selling by some estate agents and developers and fall throughs…the mortgage world is sometimes a real pain in the a***

But it’s moments and messages like this that make it (in my opinion) one of the best industries in the world to work in.

A client that has spent the last couple of years worrying about outgoings, debts and affordability…and now they has complete financial freedom with their outgoings reduced by over £400 a month whilst securing their new interest rate on their mortgage for the next few years they can now focus on doing all the things they love to do.

We have some appointments still available this week.

So with BBQ season now officially here….the BIG QUESTION IS…..

What’s the best bun for your burger?

A)The brioche
B)The sesame seed
C)The plain roll
D)The “no carbs for me” lettuce wrap option

Comment A,B,C or D below.

FFS REALLY?

The advice floating around social media from some “Mortgage Advisers” saying that cancelling your Netflix subscription will help you save for a deposit is a bit like Boris Johnson saying that stopping MOT’s will help your cost of living.

Mortgage & Protection slots available next week. With rates on the rise, it’s a great time to get your new deal sorted now.

Come and try our 4 step simplified process.

1) Book your Appointment via our Calendly App
2) Register for the client portal and upload your info
3) Appointment Time
4) Kick back and let us take care of the rest

Get started by booking your appointment here

https://calendly.com/davisfinancialsolutions/mortgage_consultation

What did you do this morning? 👍 or ❤️?

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HUGE congratulations to Worthing FC MASSIVE achievement.

THAT'S IT! IT'S OFFICIAL...

WE'RE THE 2019-22 @IsthmianLeague CHAMPIONS!

But of Saturday fun, because mortgages can be a bit too boring for weekends 😂

What’s your favourite tune?

Our business is built around our clients, and we love to get to know about you. Not just your address history and financial information, but you! So we have created our office playlist, with the aim of filling this with our clients favourite tunes (as well as our own). So you can enjoy your fav music when visiting us, and we can enjoy listening to it to help us get through the paperwork.

Drop us a message or a comment with your favourite(s) and let’s get them on the playlist this week.

#worthing #worthingbusiness #westsussex #westsussexbusiness #davisfinancialsolutions #playlist