Author: Jamie Evans

£150 Million Help to Build Mortgage Scheme

By Jamie Evans,

The Government has launched a new ‘Help to Build’ low deposit mortgage scheme, supported by £150 million in funding, to help more people build their own homes.

The scheme will enable people to custom build a new home with just a 5% deposit alongside a Government-backed equity loan, similar to the Help to Buy scheme.

It is hoped that the new scheme will increase the number of people looking to build their own home and help people realise their dreams. New products are currently being developed by many lenders to accommodate the new scheme. Here at PIA, we will guide you through the maze and help you realise your dream home.

Give us a call and talk to one of our experienced advisers today.

95% Mortgage Guarantee Scheme

By Jamie Evans,

95% Mortgage Guarantee Scheme

This scheme has been designed similarly to the previous 95% Help to Buy Mortgage Guarantee Scheme which was launched in 2013 and helped over 100,000 households purchase a home.

Under the terms of the new scheme, the government will guarantee the portion of the mortgage over 80% (with a 95% mortgage, the remaining 15%).

Several high street lenders have announced they will be taking part in the new scheme and here at PIA we will be able to guide you to the right lender for your needs. The scheme will launch in April and is expected to be available until December 2022. There will be certain eligibility for the scheme and below is the information we know so far:

  • The scheme is applicable for residential mortgages only and is not available for the purchase of second homes or buy-to-let
  • Applications need to be taken out by individual(s), not a limited company
  • Property must be in the UK with a maximum value of £600,000
  • Application loan to value (LTV) must be between 90% and 95%
  • Only available on a repayment basis, not interest-only
  • Borrowers must meet the lender’s affordability and credit policy
  • Products available will be on a long-term fixed basis, minimum product term five years

To find out more, contact one of our advisers, who will be happy to help

Stamp Duty Changes

By Jamie Evans,

Exciting News for the mortgage and housing market!

The Stamp Duty holiday has been extended until 30 June for property priced up to £500,000, potentially saving home buyers up to £15,000.

And, from 30 June the Stamp Duty threshold will change to £250,000, so home buyers will only pay stamp duty for properties over this amount.

This new threshold of £250,000 will stay in place until 30 September at which stage the threshold will revert to £125,000.

Here at PIA we are waiting to hear from you with any questions or enquiries you may have. Get in touch today to talk with one of our team.

Life Insurance

By Jamie Evans,

Life Cover gives you peace of mind and protects your loved ones if the worst were to happen. Our Life Cover plans can cover a range of needs.

We offer single, dual life and joint life cover as well as increasing, decreasing or level cover. Our plans can adapt to life’s changes and are bespoke to your individual needs. You can add a new cover to your plan or reduce an existing cover if you need to.

Buy to Let

By Jamie Evans,

We have access to whole of market for those looking to buy a property that can be rented out. We can talk you through the many benefits of becoming a buy to let investor, whilst still availing you of the disadvantages, so that you have plenty of practical advice to help you become a landlord. We also advise on the more experienced portfolio landlords and Limited Company with a large portfolio of rental properties.

First Time Buyer

By Jamie Evans,

Taking your first step on the property ladder is an exciting time, but with so much to think about it can be a little daunting.

We are here to make it easier for you by advising you how much you can borrow and what deposit you will need.  We can search the whole market for the best rate for you and submit an Agreement in Principle.

We will complete the paperwork and submit your mortgage application online to make the process as efficient as possible.  We will keep you informed of the progress and ensure that all of your protection and insurances commence at the same time.

Give us a call we will be happy to help.

Relevant Life

By Jamie Evans,

A Relevant Life Plan allows employers to give death-in-service benefits to their employees.

This type of plan could help high-earning employees who have substantial pension funds and don’t want their death-in-service benefits to form part of their lifetime allowance. It’s also useful for small businesses that don’t have enough eligible employees to justify a group
life scheme.

Relevant Life Plans are available as a stand-alone, single life plan. Premiums can be treated as an allowable expense for the employer in calculating their tax liability. The cover is portable so employees can take it to a new employer without having to answer any new underwriting or medical questions. The cover is flexible – it can be written on either a level, decreasing or increasing basis. The employee or their family can make a claim when the person covered dies or meets the providers’ definition of a terminal illness.

Key Person Cover

By Jamie Evans,

No one wants to worry about what might happen to their business if a skilled employee can’t work because of an injury or illness.

Key Person Income Protection, pays out a monthly income at the end of the chosen deferred period if a key person is unable to work because of an illness or injury.

The monthly income could cover the amount of profit that this key person would have been bringing into the company, and therefore help your clients continue to pay any bills or ongoing business expenses.

Critical Illness

By Jamie Evans,

Critical Illness cover provides a financial cushion should you suffer a serious illness, such as cancer, heart attack or stroke. In most cases it will be a one off payment for you to use however you wish: to cover your mortgage or rent, to meet living expenses, or even to pay for that dream holiday you have always wanted. Critical Illness cover can help you face the future with confidence if the worst were to happen.

Share Protection

By Jamie Evans,

A share protection arrangement enables the surviving owners to purchase the deceased owner’s share of the business from the deceased owner’s estate and ensures that the deceased owner’s dependants have a willing buyer and cash instead of a share of the business.

Critical Illness Cover can also be added at an extra cost, the agreement gives the owner the option to sell their share of the business if they are diagnosed with a critical illness.