Making Mortgages simple
Buying a property can be the biggest decision made in our lives. It is for this very reason that impartial advice is critical from competent and qualified advisers. Whether you are a first time buyer, looking to remortgage or even looking to purchase a second home. This is where our advisers excel.
Be reassured that our style is to guarantee reliable mortgage advice appropriate to any individual that makes contact with us.
If you are experiencing financial difficulty and struggling to make repayments, then you can contact your lender who may be able to help taking account of your individual circumstances.
You may want to contact one of the free impartial money guidance and debt advice services such as StepChange, Citizens Advice, or Turn2Us.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
The information given in this website does not contain all of the details you need to choose a mortgage. Make sure that you read the separate key facts illustration before you make a decision.
You can provide feedback or make a complaint to our network Sesame. Please contact them on the details below:
Write to: The Customer Relations Department, Sesame Limited, Fourth Floor, Jackson House, Sibson Road, Sale, M33 7RR.
Email: CustomerRelations@sbg.co.uk
Telephone: 0345 0456 800 (Mon-Fri 9.00 am to 5.00 pm)
ABOUT
As an unbiased mortgage advisory firm, we provide an efficient, professional and honest service to our clients, helping to ensure that not only are you getting the most appropriate mortgage, but we also take into consideration the bigger picture when it comes to protecting and securing your mortgage against unforeseen circumstances.
What should you expect from working with Ridgeway Finance?
As a client of Ridgeway Finance, we will ensure you get a personal service by finding out what truly matters to you. We value each and every client, and no mortgage application is too big or too small.
Our clear and efficient process ensures we build lasting and trustful relationships with all of our clients.
Our team are happy to meet at a day, time and location most convenient to you, with no obligation to you. These meetings are usually arranged by prior appointment either in person or remotely via video, whichever suits you.
Buying a Home
Keeping mortgages simple
When moving home finding the right mortgage and arranging it quickly is essential. Our expert advisers can help you get the most suitable deal that’s right for you and also help you with the following:
- Discover how much you could afford to borrow and the fees you will pay
- Source the most suitable options from a comprehensive range of lenders across the market, not just your current lender
- How much your monthly mortgage payments are likely to be
Don’t forget the importance of impartial advice!
You may be tempted to go back to your existing lender however it is important to remember they will only be able to tell you about their mortgage products. There could be a better option for you with another lender potentially saving you money.
Call us today to find out more.
FIRST TIME BUYERS
Buying your first home can be a very exciting albeit daunting experience which is why it is important to get the right advice at the very start. There are many different mortgage products to choose from so it is important to get the solution that best meets your needs.
To help you to make the right decision we have put together our Top Tips for first time buyers:
- How much can I borrow?
It is important to be realistic when working out how much you can spend on your new home. A budget planner will help to ensure your mortgage is affordable. - How much deposit will I need to put down?
When choosing a mortgage, you can see which deals you might qualify for based on the size of the deposit you have by looking at what is known as the mortgage ‘loan to value’ (LTV). For example if you are looking to buy a property valued at £100,000 and have a £5,000 deposit you will be looking to borrow 95% of the property value. Typically the more deposit you have to put down the better the mortgage rates will be. - Have you considered any extra costs?
Even a newly built house will require some sort of furnishings, whereas older properties may require extensive work, such as re-flooring, tiling or renewing the wiring. These should be considered alongside the purchase price, and fees such as conveyancing and stamp duty.
- Know what to look for when viewing properties
Always take an experienced home buyer with you when viewing properties as there may be important details you could be missing out on. - Household Budgets
If you have been used to living at home with your parents, remember to budget for expenses such as council tax, gas and electricity bills, boiler servicing, and other home repairs. - Council Tax Charges
Make sure you know what the likely council tax charge will be in your new property. The selling agent should be able to tell you what tax band the house you are interested in buying is in, and how the charges are levied by your local authority. - .
Remember a mortgage is a long term commitment and there are lots of different products available, so it is important you get the right solution for you.
Call our experts today for more information.
REMORTGAGE
Why Remortgage?
Your existing mortgage deal may be coming to an end and you're about to move onto the lenders standard variable rate which could result in an increase in your monthly mortgage payments.
Remortgaging before your term ends could potentially save you money by switching to another deal or another lender. There are plenty of reasons why you might want to consider a remortgage, perhaps you want to cover the cost of home improvements or pay off more expensive debts.
Whatever your requirements we are here to help.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
Buy to Let
Whether you’re becoming a landlord for the first time or you’re looking to expand an existing portfolio you will need to take out a buy to let mortgage rather than a standard residential mortgage. A buy to let mortgage is specifically for people who are buying a property to rent out to a tenant or tenants.
How do buy to let mortgages differ from residential mortgages? :
- Interest rates are usually higher on buy to let mortgages compared to residential
- Whereas for residential mortgages your deposit could be as little as 5% of the property value you will have to pay at least 15% for a buy to let mortgage.
- Unlike a standard mortgage, where the amount you can borrow is linked to your income, with a buy to let mortgage, the lender will instead look at how much rent you could make from the property on which the mortgage is secured.
We can help you arrange a bespoke buy to let solution that’s tailored to you. Call our expert team today to find out more.
Commercial Finance
Key features of taking out a commercial mortgage
A business mortgage plan differs from a regular mortgage in the following ways:
- You’ll usually pay a higher interest rate on commercial mortgages compared to regular home mortgages as these are considered higher-risk to lenders
- Commercial mortgages tend to offer better interest rates than regular business loans as these require property as collateral
- Whilst we cannot provide you with any product specific advice on this type of lending, we work alongside a panel of lenders/advisors who will be able to advice you
- HOW IT WORKS
- A company director needed £750,000 to clear an existing bridging loan and another £250,000 to invest back into the business. We were able to find the financial solution for them. The lender recommended a homeowner business loan, allowing them to borrow against their residential property for commercial purposes. We secured the lowest possible rate and the process was completed in under six weeks
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Bridging Finance
Key features of taking out a bridging loan
- A bridging loan is a short-term loan aimed at property buyers
- They're often used to ‘bridge’ the gap between incoming funds from a sale and outgoing funds for a purchase
- Bridging loans typically have high-interest rates and fees
- First, second and third charges
- Residential and commercial properties
- Purchasing or refinancing
- solutions are individually tailored to match each set of circumstances
- Bridging is not a long term solution
- Talk to a professional mortgage adviser to see what’s right for you
- Whilst we cannot provide you with any product specific advice on this type of lending, we work alongside a panel of lenders/advisors who will be able to advice you
Second Charge Loans
Key features of taking out a second charge loan
- Second charge mortgages are a type of funding which uses your property as security.
- Securing a loan against your property means that if you fail to meet your repayments, then your lender may repossess the property to cover the cost of your loan.
- Getting a second charge mortgage means you will be taking out an additional line of borrowing after your existing mortgage, and so two loans will be secured against your property.
- A second charge mortgage can help in a variety of circumstances and can be used for any legal purpose including: debt consolidation, home improvement projects and other big purchases.
- By consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.
- Whilst we cannot provide you with any product specific advice on this type of lending, we work alongside a panel of lenders/advisors who will be able to advice you
Protecting yourself and the ones you love
You and your Family are important; that’s why it’s best to get expert advice to help protect what matters, when it matters!
Thinking about the consequences should anything happen to the main breadwinner isn’t something any of us want to contemplate. However it is important when arranging your mortgage to take the time to protect you and your family should the unthinkable happen.
Put simply protection products are policies that are arranged to provide you and your family with either a lump sum or a regular income should you become seriously ill, or in the event of your death.
We have listed some of the most popular types of insurance below:
Life Insurance
Life insurance, also known as term insurance or life assurance will provide a sum of money in the event of death during the term of the policy. This cash lump sum is paid tax free and can be used by your dependents however they choose.
Life insurance can be used to cover a mortgage, other loans or to ensure that your family is protected from the effects of having to repay a debt.
Critical Illness Cover
A Critical Illness plan is designed to pay out a lump sum on the diagnosis of certain specified illnesses. This type of plan is designed for those individuals or families whom want a lump sum if they are diagnosed with a serious illness. As an example of where this lump sum could be used is to repay a loan, mortgage, or perhaps pay for time off work.
Income Protection
An Income Protection plan is designed to pay out a regular income in the event you are unable to work due to an accident or illness. These types of plans continue to pay out an income as long as you are unable to return to work up until the end date of the policy (typically your normal retirement age).
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Family Income Benefit
Family Income Benefit is a life insurance policy which is set for a period of time known as the term. If you die within this period the policy will pay out a regular tax free income until the end of the term. For example if you have a 20 year policy and die within 5 years the policy will pay out the remaining 15 years.
Things happen when you least expect it...
There are two types of household insurance - buildings and contents. They are separate entities but can normally be bought together, usually with a discount.
Buildings Insurance
We’ve been in the business for 40+ years and have been a leader in the field ever since. We take pride in sharing the experience we’ve acquired.
Contents Insurance
Contents Insurance covers the loss of or damage to the contents of your home. This includes your furniture, electrical goods and other items within your home. Some policies cover you for items you take outside, for example cameras, jewellery and briefcases.
Different policies offer different levels of cover but generally you'll be covered against theft and fire, and have the option to insure against damage you may cause by accident.
Landlords Buildings
As a Landlord you will wish to protect your investment. We can arrange buildings cover or a combination of the two.
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LEGAL
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBTS SECURED ON IT
The information given in this website does not contain all of the details you need to choose a mortgage. Make sure that you read the separate key facts illustration before you make a decision. The FCA does not regulate Commercial finance and some forms of buy to let mortgages and Bridging finance.
If you have a complaint or dispute with us, you are entitled to make a complaint. We have a complaints procedure that is available on request. If you wish to register a complaint, please contact us either in writing, by telephone or email. Please be assured we treat complaints seriously. For your protection if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service (FOS).
You can provide feedback or make a complaint to our network Sesame. Please contact them on the details below:
Write to: The Customer Relations Department, Sesame Limited, Fourth Floor, Jackson House, Sibson Road, Sale, M33 7RR.
Email: CustomerRelations@sbg.co.uk
Telephone: 0345 0456 800 (Mon-Fri 9.00 am to 5.00 pm)
Ridgeway Finance Ltd is an appointed representative of Sesame Ltd which is authorised and regulated by the Financial Conduct Authority. FCA Register No459700 . Calls may be recorded for training and monitoring. Registered address 56 The Ridgeway, Croydon, CR0 4AE. Registered in England under no. 12802940
