Mortgage advice – look no further
IEP Financial has an in-house independent adviser based in Hove, who will work closely with you to secure the best deal across the whole market.
Stefan Olingschlaeger is our mortgage & protection specialist and has over 16 years’ experience within financial services and providing mortgage advice. Cemap & Cefap qualified, Stefan previously worked as a personal banker, a financial consultant & now uses his experience & expertise to focus on mortgages and protection.
If you would like a meeting with Stefan or simply have an initial telephone call to understand your mortgage & protection options, please contact 01273 208813 or email Stefan.Olingschlaeger@iepfinancial.co.uk Alternatively complete the form on the right hand side and we will contact you shortly.
Buying a house is normally your single biggest financial commitment and making the right decision will save you money. However, before you can purchase a house you first need to achieve a mortgage offer.
Mortgage lenders will use an affordability calculator that will factor in your income and outgoings. Any other credit commitments will reduce the amount they will be prepared to lend.
The role of our in-house adviser is to help you to identify the lender who is most likely to agree to lend you the required amount you need. This is based on your personal circumstances.
Since the launch of The Mortgage Market Review back in April 2014. Also the recent Mortgage Credit Directive from March 2016, the process has become much stricter.
The main consideration when choosing a mortgage is whether to choose a fixed rate or variable rate. A fixed rate will remain the same for an agreed length of time i.e. a five year fixed rate will have the same monthly payments for five years, before being reverted to the lender’s variable rate. This might be ideal for a family seeking financial stability but may be inflexible for someone looking to sell their house in two years.
Payments on a variable rate mortgage fluctuate depending on the level of interest rates. This is generally linked to the Bank of England Base Rate. If the interest rate goes up, so do the payments on a variable rate mortgage; similarly, if the Bank of England announce a drop in the interest rate your monthly mortgage payment will go down too. Variable rate mortgage can give you lower initial payments, but have the scope to cost more if interest rates go up.
Changes introduced in April have given you more choice over how you use your pension savings once you reach the age of 55. One of the key reforms enables you to take your entire pension as cash, subject to tax, if you so wish. Alternatively, you can withdraw an income or one-off lump sums whenever you like. Previously, when people felt forced into buying an annuity, they had much less control.
Ever since the reforms were announced by the chancellor in his 2014 Budget there has been interest in how the new flexibilities will be used; especially whether savers will be tempted to take money from their pension to invest in buy-to-let to fund their retirement.
The new freedom to cash in large lump sums, or even your whole pot, means that as an option buying property with your pension appears to be much more achievable. There is definitely scope to do this as part of a balanced retirement plan. However, anyone considering taking the plunge needs to carefully weigh up the advantages and disadvantages.
Aspiring landlords should carefully weigh up all the pros and cons before committing their money to bricks and mortar. Buy-to-let property can play an important part in an investment portfolio and a central role in retirement planning. However, you must ensure that your portfolio is properly diversified to reduce risk. That means investing in a spread of investments including ISAs, pensions, stocks and shares, and property – commercial or residential; if you so wish.
The mortgage market has changed a lot in the last five years & there are always new developments and products coming to market. Our mortgage adviser can offer you advice to find you the most appropriate mortgage & help secure the chosen mortgage deal.
For a no-obligation meeting with our Hove based adviser, face to face or over the phone, please call 01273 208813.
IEP Financial is authorised and regulated by the Financial Conduct Authority (FCA). Please note that not all mortgages are regulated by the FCA.