Slay your Mortgage Miseries this St. George's Day

There is nothing more important than getting to grips with your finances. However, the subject of remortgages is an often misunderstood one that can lead to people missing out on the best deals

4 Reasons as to Why you should Remortgage Now

Remortgaging your home is often seen as a risky manoeuvre, one that may result in you being worse off financially. However, in the right circumstances, remortgaging your home can provide thousands of benefits (literally) to you and your finances. It's simply about knowing what works and doesn't work for you.

What is a 'Remortgage'?

When somebody chooses to remortgage, it is when they take out a new mortgage on their current property. This can be to replace their current mortgage deal, most probably when it is about to end and the client wishes to secure a better deal for themselves. It is also when people choose to borrow money against their property.

Why Should You Remortgage Your Home?

1. You Need Flexibility of your Payments

We know that it's very rare for you to be in the same position now as you were when your first sought a mortgage. Whether you've switched jobs, gone back to university or started a family; then just like the rest of your lifestyle, your mortgage needs to change and work around you.

Remortgaging allows you the opportunity to find a new agreement that suits your current lifestyle and there are providers out there that give you that flexibility, whether that is in the form of payment holidays or over payments (a great option for those who want to pay off more of their mortgage when they have the money there).

Don't worry though, you won't need to search high and low for the right provider; just a few quick questions from us and we will scour the country in search of the right one for you.

2. You Want a Better Rate

From eating out to purchasing furniture for your new home, everyone wants to secure the best deals. No more so than when it comes to many years of financial commitment in the form of a mortgage.

It may seem strange that you would get a penalty for paying your mortgage off early, but unfortunately, it is a very common approach that lenders take. You see, they know that you probably don't enjoy having the financial burden dangling over your head for the significant future and if clients had the option to pay a significant proportion off early, they probably would.

By remortgaging, you can ensure that one of your main considerations is mortgage rates and ensuring that you get the best options available to you. It is worth discussing this with our mortgage advisors who can help to advise and direct you towards the best deal for you.

3. Your Current Mortgage Deal is Coming to an End

First Industry Secret - The lowest rate doesn't mean the cheapest mortgage. A low rate can look very attractive especially if it appears at the top of the list in a comparison search. The reality can be very different and once product fees and sometimes survey fees are added, the total cost can be higher than you think! Often there are better mortgage options available to you confirming the importance of speaking to a specialist adviser that can guide you through thousands of products in the market.

Second Industry Secret - Many mortgage providers will give you the best mortgage deal when you initially approach them, so for the first few years you are getting fantastic rates. After your initial mortgage deal ends, they are more than likely to drop you down to average-at-best rates. Why? Because they know that they have you in their grasp and they know that most people don't like the hassle of searching for a new provider.

Third Industry Secret - It's really not that difficult to change mortgage provider, especially when you have a team of mortgage advisors on your side, alleviating any stress and work from you.

Fourth Industry Secret - Our final secret that we will share with you is that the best time to look for a new mortgage is around three months before your mortgage deal ends! Now open up your diary and pencil that in, fail to prepare, prepare to fail!

4. You Want to Borrow More

Finally, one of the most common reasons for remortgaging is so that the client can borrow more money, although reasons vary with the client, the most common reason is to fund home renovations.

It is really important that you read through all the fees. It can be easy to become set on the idea of getting more money without actually understanding that you are borrowing it with interest. Make sure that you check over all the fees with a fine tooth comb, if it is going to cost thousands more in the long run, ask yourself whether it is worth doing.

Happy St. George's Day!

Who was Saint George?

Saint George was a Roman soldier that lived around 256-303 AD, although his birth year has been debated for many years. He was brought up as a Christian and because of his strong faith, he was tortured and beheaded under the orders of Roman Emperor Diocletian who persecuted many Christians during his reign.

What is the Story behind the Legend of George and the Dragon?

We know that dragons do not and have not ever existed, therefore, most historians believe that the dragon symbolised the devil in medieval times. The link between George and the Dragon came many years after his death and it may be his death itself that brought about the idea of him slaying the dragon, because of his refusal to give up his faith, this may be symbolised as him slaying the dragon.

Five Fast Facts

1. The dragon's name was apparently 'Ascalon' which was also the name that UK Prime Minister, Winston Churchill, used as the name of his personal aircraft during the war.

2. Saint George may be the Patron Saint of England, but in fact, St. George wasn't actually English at all. He was a Roman solider of Greek and Palestine origin.

3. Saint George is the Patron Saint of Georgia, Malta, Portugal, Romania and the areas of Catalonia and Aragon in Spain.

4. Saint George has also been declared as the protector of the British royal family.

5. He died on 23rd April 303 in his homeland of Palestine

Where to Celebrate St. Georges Day

What better way to celebrate St. George's Day than in a pub called "George and the Dragon"? Our staff in our Chester office, Bradshaw Farnham and Lea are fans of their local George and the Dragon located on Liverpool Road.

The Best of British Pub Names

Our pubs are known around the world for their weird and wonderful names that ooze quirkiness in a fashion that could only ever be considered acceptable in our small but mighty land.

Although many seem to be a little too "out there" to be found in other areas of the country, there is a small army of pubs that share the same magnificent monikers. For our small island holds a lot of history which can be found in the most unlikely of places, including your much-loved pub. No, we don't mean that your local was built on the grounds of a battlefield or that it may be known to be home to some ghostly residents that are not ready to leave (like these haunted Liverpool pubs) but much of our country's history can simply be found in the names of our pubs.

Here is our list of the best of British pub names, perhaps you can spot a deal or two from your nearest pub?

The Red Lion

The lion itself has been a part of the Royal Coat of Arms for thousands of years. It is said to symbolise strength and courage, which is a huge part of the British identity.

Rather unsurprisingly, "The Red Lion" is Britain's most popular pub name, despite the fact that most British residents are more likely to see a goose roaming around outside a pub rather than a lion (most commonly found in Africa) but perhaps geese don't have the same qualities as lions do...

Fancy visiting all 632 "The Red Lion" pubs? Take inspiration from one very British lady who spent four years travelling the country to visit each and every one of them. If you want a spoiler, her favourite one is in Kent.

Luckily, you don't have to travel to Kent to enjoy all the of a red lion. You can visit The Red Lion in Chester!

The Ship

Considering Britain's island location, there is little wonder why one of the country's most popular pub names is The Ship. The name can, however, also be linked to the country's religious ties with Christianity with the ship representing Noah's Ark.

If you are looking for a taste of what a traditional pub offers, be sure to visit the beautiful The Ship Inn in Rainhill, Merseyside. This is definitely a place to visit during the summer months, with it's beautiful beer garden and dog-friendly policy, what a wonderful place to meet and eat with friends!

The Crown Pub

Your local Crown pub may just be another one of the many pubs in your area. However, hundreds of years ago, landlords would call their pub 'The Crown' to show support for the royal family.

During the tempestuous years of the English Civil War, there was a huge divide between the royalists and the parliamentarians, who wanted the members of parliament to have an executive decision over the royal family's rules. Although eventually, the parliamentarians won with King Charles 1 being beheaded for treason against his own people, it was a very risky move for the public to actively show their support for the parliamentarians.

The Crown Pub Southport

If you are a fan of the traditional cosy British pubs, where you can cuddle up by the open fire, look no further than The Crown Pub in Birkdale.

This beautiful pub offers an authentic British menu, with delicious foods such as Posh Fish and Chips, Hunters Chicken and the pub's special Steak and Pale Ale Pie! On a Sunday, you can enjoy a special menu which has the best options for hungry guests, including the Trio of Roasts, offering freshly carved roast sirloin of beef, half roast chicken, roast loin of pork. Yummy!

They often have offers on of a weekend and they also give away free Prosecco for those who are celebrating their birthday! Look at their beautiful patio area, where you can enjoy a range of real cask ales under the warm summer skies.

The Railway

The Railway pub in Formby is one of the most popular pubs for locals in the area, with a weekly pub quiz and delicious menu that makes it an inviting place to spend the evening.

If you are not a resident of the local area, it's a fantastic place to visit with Formby Beach, Red Squirrel Walk and Farmer Ted's Adventure Park all within a close driving distance. After your outdoorsy-day, make sure you stop by The Railway to enjoy its warm and welcoming atmosphere before you begin your journey home.

The pub's name is usually quite popular in cities, highlighting their connection to the rest of the country through dynamic railway lines. Formby is a popular location for people to live because of it's connecting links with Liverpool and Southport.

The Swan

Swans are often associated with royalty, perhaps because The Queen actually owns the majority of swans in the UK. This has been the law for hundreds of years and it is not set to change anytime soon.

Any unclaimed mute swan belongs to The Queen and each year, the Royal Swan Uppers take part in a ceremony on the River Thames called "Swan Upping". In this traditional ceremony, swans are collected by the Royal staff over a five day period in July. They are then all taken for a health check, weighed and measured before being identified and set free again.

Swans, although are beautifully serene creatures when swimming across a lake, are known to have a temper if they are disturbed at the wrong time. It is said that swans have the ability to break your arm, but not when you find yourself in a pub of the same name. So, if you ever find yourself being disturbed by a swan, head to the nearest Swan pub!

George and the Dragon

Finally, you can enjoy celebrating St. George's Day in the George and the Dragon pub in Chester, a popular haunt from our Chester office colleagues. Check it out!

St. George's Day Events Near You

There are many events going on across the country to celebrate St. George's Day. Whether you are at home or exploring the UK, check this article for celebratory events near you!

Click here to read St. George's Day Events Near You.

Make sure you’re aware of this new legislation so you don’t have any problems renting your property out

A new legislation, The Minimum Energy Efficiency Standard (MEES), which came into effect on 1^st April 2018 means that Landlords of privately rented domestic and non-domestic property must ensure that their properties reach at least an Energy Performance Certificate rating of E before granting a new tenancy to new or existing tenants. Click here to read full details…

Click here to read Make sure you’re aware of this new legislation so you don’t have any problems renting your property out.

Has your House Price Increased? It may be Time to Check

When your mortgage deal is coming to an end, many people will either renew the deal with their current mortgage provider or will get a new deal based on the price that you paid for the house originally. However, house prices can change drastically within the space of a few months, let alone a few years.

It is worthwhile getting your home valued a few months before you look for a new mortgage deal. Lenders will assess your current loan-to-value rate, which is basically a ratio that shows the amount of money outstanding on your home to its market value. They will then use this ratio to determine how much you can borrow and the interest rate that you are charged for doing so.

Therefore, if your house price has gone up drastically since you purchased it, then your money outstanding is going to be a lot less than the current market value. Experts say that the ideal loan-to-value rate is 50% or under but anything under 60% will get you the best deal on remortgages.

Click here to arrange your Free No Obligation Valuation

What if Your House Price has Decreased?

If the opposite has happened and your price has decreased, then you may not be so lucky as when this happens, your loan-to-value ratio is going to increase.

However, even if your loan-to-value ratio has increased, which can be expected in an uncertain economic climate, don't despair! Our team of mortgage advisors are beacons of knowledge when it comes to mortgages and finance. They can search thousands of products until they narrow down some great deals that fit you and your circumstances.

Click here to get in touch with us for your Free Initial Consultation.

How You can Find your Loan-to-Value Ratio

The simplest way to find out your Loan-to-Value ratio is by dividing your outstanding mortgage amount by your property's current value, then multiplying it by 100!

This Month's Market Commentary from Rob Farnham, Chief Exec of The Venmore Group

St George's Day sees the nation’s housing market dividing into two with house prices rising slowly in the North of England whilst falling in the South, mostly in the London area as a result of the market still coming to terms with the changes in Stamp Duty two years ago.

There’s a shortage of homes coming to market, which combined with people reviewing their mortgages as fixed deals come to an end, means now is a great time to consider moving or at least re-mortgaging your home before the next Bank of England review of interest rates which is due in May.

First time buyers are active currently although a little older than anticipated, recent research by Keepmoat Homes revealed that 69 percent of people think that it’s harder to buy your first home than ever, yet the product range offered by our Mortgage Consultants is broader than it’s been in the past 10 years. This may be down to people staying in education longer before entering the work place or it may be that in the past 40 years the average time to save a deposit has doubled from just over 2 years to 5 years. Another figure that has doubled is the number of people that have help in raising their deposit, 48 percent of first time buyers have help from The Bank of Mum and Dad as opposed to 23 percent 40 years ago, the average BoMaD loan exceeds &10k.

One great thing about the current market is that it moves quickly so if you are thinking of moving we’re finding buyers quicker on average than we’ve ever done post-recession.

We’d love to help you with selling or financing your home, and have a team who take pride in making sure our customers are happy.

Why 5 Year Remortgage Deals have Dropped

Interest in five year remortgage deals has dropped for the first time since the 2017 interest rise. Discover why people are opting for two year deals.

Click here to read Why 5 Year Remortgage Deals have Dropped.

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