Mortgages
Home purchase
Home purchase mortgages are for when you’ve already got a mortgage but are looking to move to a new home. You could get a great rate by switching to a new deal.
Remortgage
Remortgaging is when you change the mortgage you have on your property. You could save money either by switching your mortgage to another lender, or by switching to a different deal with your existing lender.
Buy-to-let
Buy-to-let mortgages are for when you buy a property to rent out, and for when you’re planning to remortgage a property you already rent out.
Help to Buy
Help to Buy is a government scheme to help first-time buyers struggling to save a deposit, and home owners who have limited equity.
First time buyer
Many banks and building societies have specific deals for first-time buyers which can include incentives like cashback, low fees, or a contribution towards legal costs.
Looking for mortgage advice?
If you need mortgage advice, including deals from the whole of market, we can refer you to a suitably qualified company. Call free from your landline or mobile on 0800 023 6524 and we will arrange for you to be contacted
We can refere you to access mortgage products that allow for all of the following:
- No Minimum Income
- Enhanced Income Multiples
- Impaired Credit Histories
- Loans requiring no Credit Searches
- Loans requiring no Credit Scores
- Ltd Company Buy to Lets
- Equity Release
- Interest Only Mortgages
- Lending into Retirement
- Professional & Large Loans
- Any Construction Types
- Ex-Local Authority & High Rise
- Adverse Credit
- Buy to Let & Let to Buy
- Day 1 Remortgaging
- Help to Buy, Government Schemes
- Shared Ownership
- First-Time Landlord BTL
- Mortgages for Holiday Homes
- Gifted Deposit Purchases
Loans
Second Charges
Second Charge Mortgages come into play where a First Charge or Further Advance isn’t a viable option. This could be for many reasons, but here are a few examples:
- Your circumstances may not qualify for an increased First Charge.
- You self-employed and current lender has changed its lending criteria.
- Funds are needed more quickly than a First Charge could be arranged.
- The nature of the existing First Charge (e.g. competitive existing rate, or significant exit fees)
In all the above examples, a Second Charge option, often with more flexible lending criteria, would allow for the First Charge to remain entirely unaffected.
You might be surprised to learn that our brokers have access to Second Charge schemes which allow for:
- Just 2 months employed
- Just 6 months self-employed
- Credit Impaired
- 100% of additional income/s
- Borrowing for tax bills, transfer of equity, bridge exits, lease extensions, or business purposes.
- Up to 95% LTV (£30,000 maximum, at this LTV)
- No early repayment charges (including Fixed Rate products).
- Free, flexible and uncapped overpayments.
- Lending into retirement (using employed income, if still working post-retirement)
- Outside criteria Credit Scores converted into Accepts
- Automated systems with instant ‘accepts’ or ‘referrals’
The above list is of course non-exhaustive, but gives an idea of where we (and therefore you) can step up to assist even with more tricky requirements.
Bridging Finance
If you are seeking a short term loan, secured against property or land, then this type of finance can be used to ‘bridge’ the gap until either longer term finance can be arranged or the underlying security is sold.
Bridging is often used to purchase a property while waiting for the sale of another to complete, or when buying a property at auction, or when buying a property to renovate and sell on.
Bridging Finance can also be used to provide funds for any kind of business purpose.
Our brokers have access to a wide range of both niche and mainstream lenders, to meet almost any client circumstances.
Speed is usually of the essence when it comes to Bridging Finance, and our brokers are able to provide immediate decisions, bespoke solutions and a fast turnaround.
The two most important factors when it comes to Bridging Finance are the suitability of the security (property) and the assurance of the exit (repayment of the bridge).
Optimate Consulting through its broker network brings you access to:
- Residential Bridging – First or Second Charge
- Commercial Bridging – First or Second Charge
- Monthly rates from as low as 0.65%
- LTV as high as 80%
Personal Loans
Personal loans are loans that a bank or other lender makes that are not secured against any asset such as your home.
They’re also known as unsecured loans.
Personal loans – The pros
- You might be able to borrow more than with a credit card.
- Your loan repayments will also usually be a fixed amount each month, which can make it easier to budget.
- The interest rate you pay on a personal loan is usually fixed (but not always – check that it is fixed not variable).
- You can choose how long you’d like to take to repay the loan. Remember the length of a loan will affect the amount you’re charged in interest.
- You can consolidate several debts into one personal loan, potentially reducing your monthly repayment costs. But be careful, as this might mean extending the length of the loan and so paying more overall.
You can make over-payments or pay off a personal loan in full or part, at any time before the end of your agreement without penalty.
However, if you repay more than £8,000 in any 12-month period the lender might charge compensation (although the amount the lender can charge is limited by law).
Personal loans – The cons
- Personal loans have higher rates of interest than some other forms of borrowing, particularly if you want to borrow a smaller amount.
- Because the interest rate might reduce the more you borrow, you might be tempted to take out a bigger loan than you need.
- Most banks won’t lend less than £1,000 or for shorter than 12 months. So you might end up borrowing more than you need, or can afford.
Optimate Consulting brings you simple access to a panel of personal loan providers
Our panel offers unsecured loans to individuals for any legal purpose, and will cater for most types of personal circumstances.
- Interest rates start from 5.5% APR
- Loan sizes from £1,000 to £25,000
- Loan Terms from 1 to 7 years
The process is both simple and fast, Lending decisions and quotations are typically achieved within 30 minutes (within business hours). Get in touch to find out more
Equity Release
Release the capital tied up in your home and start making more of your life.
Equity release enables you to use the money tied up in your home to provide a tax free lump sum, to repay your existing mortgage and or to spend as you wish.
We’d all like to make the most of our retirement; however, this isn’t always easy when the cost of living continues to rise. Fortunately, there’s a way which can help you cover your needs and enjoy the retirement you are looking for. If you own your own home, you can release some of the money tied up in the property without having to move through an equity release product.
Read More
Equity release can be used for a variety of purposes. These can include:
- Adapting / improving your home to enable you to remain living in
- it independently for longer
- Paying off debts, such as outstanding mortgages or credit cards
- Paying for help around the home, including domiciliary social care
- Purchasing a new car or other ‘large ticket’ item
- Providing financial assistance to your children and
- grandchildren – perhaps with a deposit on a house or to help
- them through university
- Taking a holiday of a lifetime, perhaps to visit family living overseas
We can provide you access to friendly, expert independent advice that could help you unlock the value in your home, without the need to move. Below is a rough guide to how much you could borrow.
How much can you borrow?
| AGE | % Loan to Value of House |
| 60 | 26 |
| 65 | 30 |
| 70 | 36 |
| 75 | 41 |
| 80 | 47 |
| 85 | 52 |
For example someone aged 60 with a house valued at £200,000 could borrow up to £52,000.
*Think carefully before securing other debts against your home.
Equity release may involve a lifetime mortgage or a home reversion plan. To understand the features and risks, ask for a personalised illustration.
Equity release may not be right for everyone. It may affect your entitlement to state benefits and will reduce the value of your estate.
The Small Print. Optimate Consulting Ltd is an administrative hub, processing client applications on behalf of our business partners. As a result of this, we are registered with the Information Commissioner’s Office. We are not regulated by the Financial Conduct Authority (FCA). We do not promote regulated products to the public or provide any form of financial advice on investments or pensions which are regulated by the FCA we will refer you to a suitably qualified person. Should you require Financial Advice, we recommend you contact your Financial Adviser. If you do not have a Financial Adviser we recommend you search the Financial Services Register to find an authorised firm that meets your requirements. If you require assistance on the completion of an application, please feel free to contact us. Optimate Consulting Ltd is a company registered in England and Wales company no.10249349, registered address Unit 8 & 9, Parsons Court, Welbury Way, Newton Aycliffe, County Durham DL5 6