Personal

Mortgages

Why get help finding the right mortgage?

You could be a first-time buyer or need to re-mortgage. Or perhaps you are a buy-to-let landlord, or a business owner looking to raise capital using the property. Whatever you need finance for, there is a myriad of different lenders and options.

So finding the right deal for you requires good knowledge of the mortgage market. And there are many things to consider before even looking at what’s out there. You’ll have questions like should I fix? Over what term? And what do I need to protect myself against?

The mortgage market is also volatile and fast-moving and lending criteria change regularly – this is especially true since the financial crisis in 2008. So we will help you put all of your options in the context of today’s environment, to find the right product for you.

What’s more, we offer you an initial meeting at no cost and no obligation.

Why use Kirk Rice?

Combined, our team of mortgage and finance specialists have over 75 years of experience. Each has a thorough knowledge of the whole mortgage market. We are not restricted to certain lenders either, so we have the flexibility to identify the providers that best suit what you need. Even if your requirement – or your situation – is complex, our experience means we know exactly which lenders will take applications.

With Kirk Rice, you receive a truly personal service that includes:

• Help in establishing exactly what you need
• Assistance in making the right decisions
• Guidance through the whole process – not just the initial stage of actually finding a mortgage
• Assistance with the legal bits and things like property valuations
• A full and transparent breakdown of costs (basically, no hidden extras)

Types of Mortgage

First-time buyer

• If you’re thinking of buying your first home, using a mortgage broker can be an invaluable resource. Whether it is walking you through the various schemes available to you, such as Help to Buy, a Concessionary Purchase, Shared Ownership and the rest, or having someone taking the time to go through the purchase process with you and supporting your house buying journey, they take the stress away from your dealings with the lender and liaise with the estate agents and solicitors, smoothing over the whole process.
• Here at Kirk Rice, we offer an initial meeting with no cost and no obligation, giving you the confidence that our advisers are both invested in your journey, and have industry-leading qualifications and resources to ensure you’re getting the best possible mortgage for you and your family. We walk you through the documentation, ensuring no misunderstandings, and support you with conversations with the conveyancers, breaking down the complicated legal jargon and helping you to get the keys as fast as possible.

Remortgage

• Is your mortgage coming to the end of its fixed period, or are you just worried about the current climate of interest rates, and want to lock in a good deal for your mortgage? It’s never too soon to start the conversation.
• Here at Kirk Rice, we offer an initial meeting with no cost and no obligation, giving you the confidence that our advisers are both invested in your journey, and have industry-leading qualifications and resources to ensure you’re getting the best possible mortgage for you and your family. We will work with you to calculate your existing exit fees, making comparisons to what is currently available in the marketplace, and leverage our close relations with both major banks and building societies, as well as private banks, to ensure our clients get the best of what’s available.
• We work with you through the legal process, helping to dissect the requirements and terminology, as well as monitoring your application through to the switch date.

Buy-to-let

• Whether it’s your first Buy to Let property or you’re thirtieth, we have unique relations with lenders and tax specialists to ensure your income is maximised for your investment properties.
• We will complete a full portfolio review, assessing your requirements and ensuring any new borrowing is done as efficiently and cost-effectively as possible. We can also put together growth plans for target years, structuring new borrowing around your ongoing growth and property development.
• With innovative and engaged advisers, we can put together new forms of borrowing, allowing quick access to funds in the event of new cash requirements or auction purchases, meaning you can move on every opportunity with the best possible backing.

Bridging / Commercial Finance

• For short term finance options, Kirk Rice has built excellent relations with industry-leading partners to secure our clients the monies they need with the best possible terms. Whether you’re looking to buy a property at auction, completely renovate a property, or just fund expenses for a short period, we have a plethora of lenders available who can assist with these types of enquiries.
• If you’re looking for new premises for your business, looking to negotiate the rate on a commercial asset or looking at a new development, our experienced consultants will work with you throughout your project, securing you the finance you need. The service doesn’t just stop at the rate though; we will work with you to ensure the exit strategy maintains alignment, and ensure that when the rate comes up for its renewal, we’re there ready with new options to ensure you’re getting the best there is for your business.

Equity release

Equity Release is a unique form of borrowing, available to those over the age of 55. With complicated regulations and a lot of products in the market, a knowledgeable adviser to navigate the options for you is vital.

Retirement Interest Only (RIO)

Retirement Interest Only products are affordability based mortgages, measured on your pension income and other indefinitely recurring income such as rental. Monthly payment is committed from the outset, and the loan will never grow as long as you maintain your monthly mortgage costs. This form of loan has no end date but will potentially have an initial fixed period and will need review at the expiry of the interest rate.

Lifetime Mortgage

This form of later life lending releases a specific sum from your property, potentially with the option to release more at a later date. The eligibility for this is centred around your age and the value of your property; the older you are, the more you can borrow. This is not affordability based, and you do not have to make a payment again on this mortgage, instead of letting the balance grow over time. The interest rate is fixed from the outset of the loan forever, meaning that you always know what rate the loan is growing at, and is repaid either on death or on moving into long term care.

Home Reversion Plans

Home reversion plans involve the partial sale of your property in order to release money tied up in your property. Kirk Rice does not offer these plans, and if you want further information on these, suggest you seek a specialist in this area.

Please note: Your home may be repossessed if you do not keep up repayments on your mortgage.

Kirk Rice LLP is authorised and regulated by the Financial Conduct Authority (www.fca.org.uk/register). FCA Registration No: 531538.

Kirk Rice LLP is a limited liability partnership registered in England & Wales (Registered Number: OC354936) and has its registered office at The Courtyard, High Street, Ascot, Berkshire, SL5 7HP.