Learn about
Our Services
Our Mortgage Services
First Time Buyers
Next Time Buyers / Movers
Porting of Existing Mortgages
Re-Mortgaging
Buy to Let
Let to Buy
Right to Buy
Bridging Finance
Commercial Mortgages
Adverse Credit / Credit Repair
Later Life Lending
New Build
Self Build
Secured Loans
Joint Borrower / Sole Proprietor
Ex-Pats
Holiday Let
First time Buyers
Taking your first steps onto the property ladder can be overwhelming and hugely exciting at the same time. Everyone has an opinion on what to do and sometimes this can be conflicting and create added confusion.
We recommended you chat with one of our advisors before you begin looking for properties so that you understand the timescales, processes and costs involved as well as how much you can borrow based on your circumstances.
Our advisors take time to discuss the process in a clear manner and are always available to answer ANY questions no matter how small they may seem to you.
This is one of the biggest decisions you will ever make in your life, you need to ensure that you are fully informed. Our advisors are here to offer quality impartial advice to ensure you are getting value for your money throughout the entire process.
Next Time Buyers / Home Movers
To anyone who has sold a home and simultaneously bought another this process can be incredibly stressful. Without retaining control of the process relations can often become frayed and messages lost in translation.
We recommended that you arrange an appointment with one of our advisers before you put your property up for sale so that they can provide you with all the options available to you having firstly assessed your circumstances. This will enable you to make the correct decisions on what to do.
We are here to help with the full process of selling and buying property and our experienced advisers are always on hand to deal with any questions or queries you may have.
For years we have been developing strong relationships with estate agents and solicitors and have exclusive access to lenders such is our industry reputation and will draw on all of this to compare costs for you to guarantee best value for your money whilst providing quality advice.
We can liaise with the other parties involved on your behalf to manage expectations and ensure that your timescales are met should you choose. Our professionalism and experience can diffuse the emotion that can develop during the buying and selling process by working as your intermediary.
Porting of Existing Mortgages
We recommend contacting us before your current lender when you are considering moving home and have a mortgage already. Even if this product is in a tie in or early repayments charge period our advisors will be able to establish what your options are.
As whole of market brokers we have access to all rates available including what your current lender will offer you.
Our experienced advisors will compare the current mortgage product that you have with alternatives available at that time to establish if it is cost effective to move your current mortgage to the new property or if you will save money by repaying your current mortgage and applying for a new one when moving. In certain instances, it is beneficial for you to buy out of your current mortgage depending on what alternative products are available to you at that time.
Our advisors will present the numbers to you having conducted the relevant research and will take the time to explain the process. They can also apply for the mortgage on your behalf even if you are remaining with your current lender and porting the product to a new property.
Re-Mortgaging
The days of remaining with the same lender for the full term of the mortgage is a thing of the past. With all our clients we always recommend the most cost-effective mortgage should this mean remaining with your current lender or moving to a new one.
Re-mortgaging does not always mean borrowing more money, this is an inaccurate assumption often made as you can move your mortgage to a new lender even if you do not wish to borrow more.
We contact all our existing clients 6 months before their current product expires.
Our advisors can often apply for a new product either with your existing or a new lender. This will ensure that the mortgage is in place prior to your current deal ending and in doing so avoid spending any time on a lenders Standard Variable Rate (SVR).
Buy to Let
Whether you are an experienced landlord or starting out it is vital that you speak with one of our specialists buy to let mortgage brokers.
We can access mortgage deals and lenders that you will not get by applying direct.
We can apply for your mortgage application and generate offers quickly to meet deadlines.
We can help with advising on all the costs involved with the purchase and maintenance of the property for those less experienced landlords.
We manage portfolios of properties for our clients of all sizes and are constantly reviewing the market to ensure optimum savings are achieved.
We work with key stakeholders such as estate agents, solicitors, tax advisers and surveyors on behalf of our landlords to develop key synergies and maximise profit.
We also have access to all of the relevant insurance products needed to protect yourself and your property through our status as whole of market insurance brokers. This can add value to the overall profit if a property prior to buying or even if you are looking to save money by changing existing cover.
Let to Buy
Whether you have found the home of your dreams and cannot proceed with the purchase unless you sell your current home or if timescales are not on your side or even if you would like to become a professional landlord by converting your current home into a rental property then a let to buy mortgage could facilitate this. [See also bridging finance]
This would involve maintaining two mortgages simultaneously and it is recommended that you speak with one of our advisers as the level of borrowing allowed by lenders can change between Let to Buy and other mortgages.
Being in a let to buy scenario can make you more appealing to potential vendors than next time buyers as you do not have to sell your property to proceed, and you would not be involved in any chain which is very appealing to many vendors.
Right to Buy
Right to Buy involves purchasing your current home from the council using a mortgage. It is advisable to contact the council to establish if you are eligible and once you have received the offer to purchase the property from them, get in touch with us where we will discuss options available to you having assessed your circumstances.
You will receive a discount from the council which itself may come with several caveats so it is vital you speak to one of our experienced brokers to establish exactly what you can and cannot do.
Bridging Finance
In certain instances when let to buy is not an option, bridging finance can be taken to purchase another property. [See also Let to Buy]
Bridging is a form of short-term finance usually offered to customers up to a maximum term of 2 years by lenders and allows you to borrow money against property which is then repaid by sale of property or by refinancing the property it was used to finance by re-mortgaging. [See Re-Mortgaging]
Bridging finance can be very expensive and should only be used where no other forms of mortgage are available.
Commercial Mortgages
Businesses or individuals use this form of mortgage to buy commercial property. In some instances, Buy to Let is not suitable as the building may have some form of commercial activity on one floor whilst another is let out. This is often referred to as semi-commercial. [See also Buy to Let]
Full commercial mortgages are available but affordability can differ hugely so it is advised to contact us, and we will arrange for a specialist broker to discuss the options with you prior to purchasing any property.
Existing commercial mortgages can also be reviewed to ensure you are getting value for money on your current mortgage arrangements.
Adverse Credit / Credit Repair
If you have experienced any form of adverse credit or struggled with payments, there are many options available to you. We have a large panel of lenders who offer mortgages to customers with a wide range of historical issues.
By booking an appointment with our brokers you will be able to establish what options are available to you but also discover how long you would need to wait and what steps you would be required to take before you were able to qualify for high street mortgages. We call this credit repair, and we find it helps those who had assumed they never would be able to get a mortgage as it allows them to plan for the future.
Later Life Lending
A myth exists that the retired or those approaching retirement are not eligible for mortgages and this is not the case. Lenders are more sensitive to lending into retirement now than ever before. This is due to a number of factors including having an ageing population who are working beyond traditional retirement age to those on low incomes in retirement but who have properties which are mortgage free wanting to raise money.
If you are concerned about your existing mortgager arrangements and would like to review these or if you would like to establish what your options are please get in touch and we will be happy to help.
New Build
New build mortgages often take longer to go through than second hand properties due to the time to takes the builder to build the property and delays they may encounter along the way.
Although we always look for the most cost-effective mortgage deal for our clients, we also assess other factors such as the length of time the mortgage offer will be valid for to ensure this is consistent with the build schedule and what lenders will consider things such as gifts to ensure you get the most competitive mortgage product.
Self-Build
Where a customer wishes to build their own home (or employ others to do so) then there are mortgages available to cover the cost of the build releasing funds at various stages along the way.
We have worked with a range of builders who are looking to finance the cost of full developments through to individuals who are wanting to build their own forever home.
We have access to the whole market of mortgage lenders and in many instances can see deals that other brokers cannot, so it is advisable to contact us to arrange an appointment or seek a second opinion.
Secured Loans
Secure loans or Second charge loans are a form of finance which is taken by a customer who has been declined additional borrowing with their current mortgage lender or a new mortgage lender for a range of reasons.
This form of finance is more expensive than re-mortgaging so should only be considered when all other options have been exhausted.
It may still turn out to be the best options so contact us if you would like to discuss these options further.
Joint Borrower / Sole Proprietor
In this scenario an applicant who cannot afford the mortgage on their own income can add a close relative to the mortgage application for the purpose of affordability. The idea would be that the relative would eventually be removed from the mortgage once the first applicant can afford to borrow the full mortgage on their own income in the future and as the relative is not named on the title deeds to the property no additional stamp duty or legal fees would be payable.
It is especially popular with first time buyers who may be in full time education for example but who will see in increase in their income in the future but who want to purchase a property now.
Ex-Pats
We can help with mortgages for those who for various reasons no longer live in the UK but wish to purchase property here. This can be for investment reasons or for themselves to inhabit in the future.
Holiday Let
With the rise in the popularity of short term lets such as AirBnB, there has been a growth in the number of lenders offering holiday let mortgages. Unlike a traditional Buy to Let where the rental income from a tenancy agreement would be used to assess the affordability of a rental property, the daily rent would be used giving the landlord the flexibility to let the property out on a short-term basis and maximise profits. [See also Buy to Let]
Our Insurance Services
Life or Critical Illness Insurance
Income Protection
Private Medical Insurance
Buildings & Contents Insurance
Landlords’ Insurance
Business Insurance
At Baltic Mortgage Solutions we want to ensure you, your family and your home are fully protected from anything life may throw your way.
Personal Insurance
Life or Critical Illness Insurance
- Pays a lump sum upon death or diagnoses of a specified critical illness
- Can be used to clear your mortgage balance or sustain your family lifestyles
- Can be set to decreases in line with your mortgage or on a level basis (remains the same amount throughout the term)
- Is cheaper to buy when you’re young (depending on health status)
Income Protection
- Protects your income
- Pays out a monthly benefit if you’re signed off work by your GP
- Will start paying when your employer sick pay stops to ensure your monthly commitments can be paid
- Full Term option – will pay until you return to work if you never return will pay until retirement age
- Low Cost option – For a more cost effective option, this will pay out a maximum of 2/5years.
Family Income Benefit
- Essentially a life insurance plan, but pays out a monthly benefit upon your death
- Used by your family to maintain their lifestyles if you’re no longer around
- Can be set to cover what income the household has lost due to your death.
- Usually set until a specific point in time (retirement or children’s dependency age)
Private Medical Insurance
- Is a policy designed to cover a portion of the costs of receiving private healthcare.
- Plans can differ depending on Insurer and the requirements of the applicant.
- Can be set provided by businesses as a group scheme to staff as a benefit in kind which can have tax benefits.
- Often offers additional benefits to promote a healthy lifestyle.
Property Insurance
Buildings & Contents
- You must have buildings insurance in place when you complete on the purchase of a property be it residential or Buy to Let.
- We have access to a wide range of insurers to cover both buildings and contacts insurance.
- It is vital to compare the details of what is covered under several plans rather than merely the cheapest policy as the quality of cover can vary across insurers.
- Contents insurance is optional but can sometimes be cheaper when combining with Buildings cover.
Landlords' Insurance
- Like regular buildings insurance but specific to properties that are let.
- This can be set up on an individual property or using multiple properties on a groups scheme for landlords with larger portfolios.
Business Insurance
Private Medical Insurance
- Is a policy designed to cover a portion of the costs of receiving private healthcare.
- Plans can differ depending on Insurer and the requirements of the applicant.
- Can be set provided by businesses as a group scheme to staff as a benefit in kind which can have tax benefits.
- Often offers additional benefits to promote a healthy lifestyle.
Business Insurance
- Employers’ liability insurance is required by all employers when they have staff.
- Public liability insurance is not a legal requirement but is very important in protecting the business against claims made against them by members of the public.
- Key man Insurance and Relevant life insurance are policies used to protect the business against key employees and directors suffering serious illness or death in the same way life insurance and critical illness insurance covers individuals to benefit the family. These polices can often carry tax benefits for the business.
- Landlords Insurance is like regular buildings insurance but specific to properties that are let.
This can be set up on an individual property or using multiple properties on a groups scheme for landlords with larger portfolios.
Important
Legal Note
Your home may be repossesed if you do not keep up repayments on your mortgage.
Commercial mortgages, most forms of buy to let mortgages and most forms of bridging finance are not regulated by the Financial Conduct Authority.
For mortgage advice, our initial consulation is free, however we may charge a fee for processing your mortgage application. The precise amount will depend upon your circumstances, however the normal range is between £195 and £495.