Blog
Keep up to date with the latest mortgage news on Gareth’s blog.
What does the latest Base Rate decision mean for you?
Great news for mortgage seekers! The Bank of England has just announced that it will maintain interest rates at 5.25%, providing a moment of respite. While this decision aligns with market expectations, there's a subtle suggestion that the era of significantly reduced...
Equity Release Solutions in Portsmouth
Mr. & Mrs. F, a retired couple facing a daunting financial challenge. Their interest-only mortgage costs had tripled, straining their monthly budget. Traditional residential mortgages were out of reach due to affordability checks, and the thought of selling their...
Unlock Your Dream Home: How Our Flexible Mortgage Solutions Helped Clients Secure a £1M+ Property in Sandbanks
In our recent success story, we assisted clients in turning their dream of owning a luxurious home in Sandbanks into a reality. With retirement on the horizon, they were eager to embrace a stylish lifestyle without compromising their financial stability. Leveraging...
Quick Relief: How Equity Release Solved Urgent Home Repair Crisis for a 76-Year-Old Client
In a heartwarming success story, we recently assisted a 76-year-old client facing a winter emergency. With her boiler malfunctioning, she found herself without hot water or heating, a challenging situation for anyone, especially during the cold winter months. Seeking...
Rental market boom likely
Historically, a decline in property sales has also led to a boost in private rental market stock. This is based on research1 looking at both sales and rental markets during the 2008-09 financial crisis and recent pandemic downturn. In 2008 property sales volumes...
“Empowering Retirees: How Equity Release Provided Financial Freedom for a 65-Year-Old Client in Southampton”
In a recent success story, we had the privilege of assisting a 65-year-old client in Southampton to achieve financial freedom during his retirement years. Facing a series of pressing financial needs, including funding a recent separation, purchasing a new car, home...
Green mortgages still causing confusion
A recent survey1 has shown that four in five people have no understanding of green mortgages. The terms of each individual deal differ, but typically lenders offer enhanced mortgage deals, for example lower interest rates or cashback, to qualifying homes....
Renting? Don’t forget income protection
There is a natural connection between protection and homeowners, but new research suggests that renters could in fact gain more from the benefits of cover. Rent rise The number of households renting privately in the UK rose by 63% in the decade to 20171, reaching an...
First-time buyers nearing forty
The average prospective buyer predicts they will be 37 years old by the time they finally step on the property ladder, up from 32 years old only two years ago. The survey by First Direct also found that 86% of prospective first-time buyers considered the...
Navigating the UK Equity Release market: What to consider.
Navigating the UK equity release market can be daunting, as there are a variety of different products and providers to choose from. However, with a bit of research and understanding of what to consider, you can make an informed decision that will suit your needs. One...
Be ready to buy in four steps
The home-buying process can be complex for the first-time buyer (FTB). So much so that finding the right home can start to seem like the least of your concerns! Here are some top tips to prepare financially before you kick off your search: Know what you need. Before...
Equity Release for the everyday?
In difficult financial conditions, many people are looking to make savings. For those fortunate enough to own their own home, that could mean releasing equity from your home. In the first half of 2022, 19.6% of equity release plans were taken out to cover everyday...
Will house prices fall in 2023?
House prices are widely predicted to fall next year, with drops of around 5% anticipated1. As mortgage rates rise, dampening demand and supply increases mean that prices are projected to fall. Buyer demand has dropped by a third since the September ‘mini-budget’ when...
First Time Buyer tips to boost your credit score
First Time Buyers (FTBs) face many external challenges when trying to get on the housing ladder. House prices, mortgage rates and property availability are not within most FTBs’ control. Yet something you can have an impact on is your credit score. Give your score a...
Don’t cancel your cover in haste.
Inflation hit new heights in October, with a rise of 11.1% year-on-year1, driven mostly by essentials such as food and fuel. As the increasing cost of living continues to impact on people’s lives, it is more important than ever to remember another financial essential...
Autumn Statement Update
Housing was not at the forefront of Chancellor Jeremy Hunt’s Autumn Statement, delivered on 17 November, though a few significant announcements were made in relation to Stamp Duty and social rents. For those looking to buy, the latest fiscal event provided...
Longer wait to get keys
It now takes five months, on average, to complete the process of buying a house1, a rise of nearly a quarter since 2019. In the last six months, the average time taken to complete the home buying process stands at 153 days, up from the 124 days recorded in 2019....
Everybody’s talking about rates
Why are rising interest rates bad news for mortgage holders? And what role does inflation play in pushing repayments higher? Inflationary effect The pace of inflation has been well ahead of the Bank of England’s (BoE’s) target of 2% throughout 2022. In September, the...
Concern as consumers cut back on cover
Fewer than one in four people has a life insurance policy that would support their family in the event of their death, a new study1 has found. As the cost-of-living burden worsens, experts fear that the protection gap could continue to widen. Indeed, a tenth of...
Stamp Duty savings for homebuyers
In September, the government announced a permanent Stamp Duty cut in England and Northern Ireland, which means no tax will be paid on the purchase of properties up to £250,000. Although most of the policies from the ‘mini-budget’ have since been scrapped, this one has...
House price growth slowing
The average house price in September rose 9.5% year-on-year, a slight dip from the sky-high figures in July and August. This is the first time annual house price growth has been in single digits since October 2021. The average house price is now £272,259. In another...
Mortgage blues? What to do?
Mortgages became headline news in October – and not a headline many people wanted to read. Despite the doom and gloom of the current mortgage market, it is still possible to make a positive decision. Rates rise The political turmoil recently initially sent interest...
Forever home in Sandbanks
Mr & Mrs M came to us looking for funding on their 'forever home.' They'd had an offer accepted on a beautiful, modern home near Sandbanks in Poole. They were looking for a cost-effective way of securing finance on the property, whilst also having a...
Equity Release in Dorset
Mrs G & Mrs K had lived in their home for many years. Having now both retired they had looked at downsizing to a more manageable property, freeing up some money in the process to allow them to enjoy retirement. However, their property search was in vain and they...
Saving money in Wiltshire
Mr and Mrs B are existing clients of ours looking to move from their home in Surrey to a larger home in Wiltshire. Their current mortgage had a fantastic fixed rate of 1.42% which they didn't want to lose, especially given the recent market increases we have seen. We...
Mortgage using Pension income in Ascot
Mr A was coming to the end of his interest-only mortgage term with Lloyds. His original plan was to sell the property at this point and downsize in order to clear the borrowing. However, plans change and he now wanted to remain in the home for the foreseeable future....
Equity Release in Dorchester
Along with her two siblings, Mrs B had inherited a share in her late Mother's property. Mrs B lives in the home with her husband, and wanted to explore the possibility of buying the siblings out from the home so she and her husband could continue to live in the...
(Your home may be repossessed if you do not keep up repayments on your mortgage)
We charge a fee for arranging and advising you on the mortgage. The fee will be dependent on your circumstances but will not exceed £499. (Our typical fee is £299.)
For Lifetime Mortgages/Equity Release the fee will be £999.
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South Coast Mortgage Services will be what is known as the ‘controller’ of the personal data you provide to us. We only collect basic personal data about you which does not include any special types of information or location-based information.
Why do you need my data and what will it be used for?
We need to know your basic personal data so we can make contact with you and respond to your message, request or query. All the personal data we process is processed by our staff in the UK.
Who is my data shared with?
Your data will only be shared with third parties if this is necessary to respond to your request. If this is the case, we will seek your permission before passing on your details.
How long do you keep my data for?
We may store your data for up to six years past the end of any business relationship, after which time it will be securely destroyed. If you would no longer like us to process your data at any time, you have the right to object to processing of your data. To do this, please contact info@southcoastmortgages.com
What are my rights?
You have the right to object to the processing of your data. You also have the right to request access to your data at any time. You have the right to rectification and/or erasure of personal data or restriction of processing. If you wish to raise a concern related to how we have handled your personal data, you can contact us to have the matter investigated at compliance@sdlgroup.co.uk If you are not satisfied with our response or believe we are processing your personal data not in accordance with the law, you can complain to the information commissioner’s office: https://ico.org.uk
Providing helpful and friendly mortgage advice in Southampton
59 The Avenue, Southampton SO17 1XS
02380 224 925
info@southcoastmortgages.com
South Coast Mortgage Services Ltd is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority. Registered Office: 59 The Avenue, Southampton, Hampshire, SO17 1XS. Registered Company Number: 08414746 Registered in England & Wales
We charge a fee for arranging and advising you on your mortgage. The fee will be dependent on your circumstances but will not exceed £599. (Our typical fee is £349.)
For Lifetime Mortgages/Equity Release the fee will be £799. A lifetime mortgage is a long-term commitment, secured against your home. It may accumulate interest and reduce the value of your estate.