Whether your moving because you have to, or because you want to, chances are it’s something you’re not looking forward to. A house move is a stressful event, especially into a new area – which is why our goal is to make things as easy as possible, while delivering the right deal.
You’ve decided it’s time to move house. It could be because your family has grown, you’ve got a new job, or it’s time to downsize now the kids have left home.
…but the thought of moving house is both exciting and scary! How does it impact our mortgage? Will we need a new one? Can we get what we want? Are all questions rushing through your head.
asset plus+ handle these questions from our happy clients each and every day, and know that it’s about helping you get the right result with minimum stress.
We know that it’s not just about the money, it’s about why you need it, a bigger house, a new location, or to release some capital as you downsize.
With our complete market expertise, coupled with a focused and friendly team, it’s our goal to deliver the right deal for you. It’s not about pushing “units”, it’s about a bespoke solution unique to your circumstances, and a realisation that the mortgage is just a means to an end – your end goal.
Having a child who suffers from an anxiety disorder, I was very concerned with the upheaval moving home would cause, even my stress levels with the home buying process could have had an adverse effect on him. Happily Paul and the team at asset plus+ were there to guide me through the entire process … they provided consistent help and support from initially securing a mortgage offer all the way through to completion, helping with insurance in between … it’s genuinely hard to express in words what a great team they are and how much they really have made a difference.
Common questions about Moving House
When it comes to moving house, chances are you’ve got a few questions to ask.
As it’s something we do all the time, here are some of the main ones we get asked, which will hopefully give you some of the right answers.
How much can I borrow?
Whether, you are considering that next step on the property ladder or have moved multiple times before, the only you can be sure of in the mortgage market is that things change!
Even if you have a good knowledge of this market, don’t waste time with online mortgage calculators, as they will only give you a generic overview of the market. The amount you can borrow is very much dependant on your own individual circumstances. Talk to asset plus+ today for a clear picture of what you can afford.
How does it work?
With a property to sell as well as the search for that dream new home, moving house can be really stressful. So where do you start?
Talking to asset plus+ before you put your own home on the market will give you a clear idea of what you can afford and the costs involved. In addition, our ability to refer solicitors can get things moving fast!
Can I transfer my existing mortgage?
Staying with you existing lender and “porting” your existing mortgage to a new property is certainly an option for most lenders. If you are still benefiting from a special rate, to pay off your loan on the sale of your property, could incur early redemption charges. In this instance it may be more cost effective to stay with your existing lender. However the mortgage market is very competitive, with lenders competing to entice new borrowers away from their existing lender. asset plus+ can source deals from across the market and can provide the best option for your own personal circumstances.
How much does it cost?
Having bought before you’re probably familiar with a few of the costs involved: solicitors fees, survey, mortgage arrangement fees, will all have been part of your last purchase. In addition, you will have Stamp Duty and home selling costs. Previously, you had to provide a deposit, but this may not be required this time if you have built up the equity in your existing property.
All these costs are calculated based on your own personal circumstances. Therefore rather than providing generic costs, pick up the phone and have a chat with our advisers to know accurate costs.
Why do I need a broker?
The question is not simply why you need a broker but in fact why you need Asset Plus!
As a mortgage broker we will of course review the market to find the most suitable mortgage for your circumstances, but asset plus+ doesn’t stop there. We work closely with your estate agents, and solicitors to ensure you not only get you that suitable mortgage but get you into you new home as smoothly as possible.
Do I have to use all of my profit from my sale on a deposit?
No – you are entitled to keep any profits from the sale of your main residence. However any new mortgage rate will be dependant on how much of a deposit you have, with better interest rates offered on new purchases with larger deposits. The maximum borrowing is still 95%.
Can I buy with somebody else?
Yes – your next purchase can be jointly with another party. They will be vetted using affordability checks and credit scoring in exactly the same way.
If the deposit if being funded solely on the sale of your existing property and you wished to protect it, it is advisable to discuss this with you solicitor.
Can my family help in purchase?
Yes – for many reasons you may wish to borrow additional funds to buy a property or have help to pay fees. Monies received from family can be included with the gift fully declared and documented evidence of where the monies coming from.
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About Asset Plus
We are Experts – we know the market and the people we serve. We are Bespoke – every person and circumstance is unique – and needs to be treated as such. We are Transparent – we keep you informed every step of the way. We are Accessible – we’re approachable, local & friendly, and look to build great relationships with our customers – not keep them at arms length through call centres and anonymous communication. We are Invested – it’s about knowing that there is a bigger story, understanding what it is, and helping you achieve your dream. We are more than just an Asset – because we know it’s about more than just the money...
asset plus+ Mortgage Solutions is a trading style of asset plus+ Financial Ltd, an appointed representative of The Right Mortgage Limited, which is authorised and regulated by the Financial Conduct Authority. asset plus+ Financial Ltd is registered in England no: 05859399. Registered Address: Umpleby Accountancy, Basepoint Business Centre, Bridge Road, Haywards Heath, West Sussex RH16 1UA.
There will be a completion fee for advice. The precise amount will depend upon your circumstances but we estimate that it will be £300.
Your home may be repossessed if you do not keep up repayments on a mortgage or other debt secured on it.
The information contained in this website is subject to UK regulatory regime and is therefore intended for consumers based in the UK.