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First-Time Buyer
We want to make sure anyone who is entering the mortgage world for the first time, is being helped at every stage of the process. Being a first-time buyer can be intimidating and we want to make sure that every client is talked through every stage of the buying process, so it is important to know that because of our experience in the property industry we can help anyone looking to purchase their first home. We will want to know the following about you:
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What's your long-term plans for your first purchase?
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Your current work situation including income structure?
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The size of the deposit and where it is coming from?
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How much you feel comfortable paying towards your monthly mortgage payments?
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What commitments do you currently have?
From here we can guide our clients to show them what options they have for getting a mortgage, talking them through different mortgage types, repayment methods and length of the mortgage and how all these can affect the monthly payments. We can also recommend solicitors and what costs will be involved with them, talk them through how much stamp duty they will need to factor into any purchase and any other costs they need to factor in. When they have then found a property they are interested in making an offer on, our mortgage advisors can help them finalise a mortgage product most suitable for them.
95% Loan to Value
In recent years, there's been a perception that 95% mortgage options have disappeared from the market. While some lenders we work with don't offer products at this level, we've built strong relationships with other lenders who can assist.
When we help our buyers in determining their budget right from the start, we can provide sound advice on whether a 95% mortgage suits their situation.
Home Mover
It has been said that moving home is one of the most stressful experiences a person can go through. You are now experienced in the process of buying a property, dealing with solicitors and of course applying for a mortgage. Now you are at the point where you are able to upgrade. However, to do so, you have the added stressful element of selling your current property. Alternatively, maybe you are considering renting out your current property and buying a new home. Let us guide you through the process and help answer:
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How much equity do I have?
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How do I pay off my current mortgage?
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I’ve got a great mortgage rate, can I take it with me?
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What is a chain?
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Can I keep my current property?
Call us today and we will provide the advice you need. As part of our promise to you we provide you with all the support you will require.
Self-Employed
Clients trust us to secure Limited Company mortgages as well as self-employed mortgages. We work with lenders that can use Net Profits, Salary, and Dividends. All cases are looked at on an individual basis; we can work with lenders that will use the latest years income only or take an average of several years. We can take the most complex of cases and apply a common-sense and straight forward approach to find the most suitable solution from our network of lenders.
Lender policy on income requirements can vary widely across the market, so even if you have been declined by banks on the high street previously, talking to one of our experienced brokers can lead to a positive outcome. Complicated income streams are what we are good at!
Professionals
We specialise in securing mortgages and exclusive rates for barristers, solicitors, accountants, pilots, airline crew, cabin crew, doctors, surgeons, consultants, dentists, vets, and other healthcare professionals. We work regularly with local chambers in London and throughout the UK.
We advise and arrange property finance including main residence and second home finance, buy-to-let, and property development finance. If you need to finance property or land in the UK, we can help.
Large Loans
If you’re looking for a mortgage over £1 million, you’ve come to the right place. Our team of experienced mortgage advisers have a wealth of knowledge and expertise in arranging high
net worth mortgages for our clients.
We understand that obtaining a mortgage can be a daunting task, especially for high-net-worth clients with significant wealth and assets. That’s why we pride ourselves on our ability to navigate the complex world of private bank mortgages and specialist lending situations.
We have established relationships with private banks and specialist lenders, which means we can offer our clients access to a wide range of exclusive mortgage products and competitive interest rates. Whether you’re looking to purchase a new home, invest in a property portfolio or refinance an existing mortgage, we have the skills and experience to find the right solution for you.
Our team of experts will work closely with you to understand your individual circumstances and financial goals. We will then provide you with tailored mortgage advice and guide you through the entire mortgage process, from application to completion.
If you’re a high-net-worth individual looking for a mortgage, we invite you to get in touch with us today. We’re on hand to answer any questions you may have and provide you with the expert advice you need to make an informed decision.
Poor or Adverse Credit
It is possible to obtain a mortgage, even with a history of bad credit. During the mortgage application process, lenders conduct a credit check to assess the level of risk associated with lending to an individual. The lending decision is largely based on this risk assessment, with higher-risk borrowers perceived as more likely to default on their repayments and therefore less likely to be approved for a mortgage.
Not all bad credit issues carry equal weight when it comes to obtaining mortgage approval. For instance, a late payment on a gas bill is less detrimental than defaulting on a mortgage or going bankrupt. If a lender determines that an applicant is high-risk due to bad credit, they may make an offer for funding at a higher rate, they could ask for a higher deposit, or insist on a fixed-rate mortgage to help you budget.
Fortunately, there are options available for those with bad credit. Traditional banks and mortgage lenders often have strict lending criteria that may not accommodate those with non-conventional financial histories. However, specialised bad credit mortgage brokers such as Hilo Finance can connect borrowers with lenders who are experienced in working with individuals in similar financial situations and are more likely to approve their applications.
Buy-to-Let
What is a Buy-to-Let Mortgage?
A buy-to-let mortgage is a loan secured against the property that you will let out. You can rent the property to individuals, a company or to a family member, depending on the lender. Mortgage rates and fees are typically higher on a buy-to-let mortgage when compared to a residential mortgage. The loan amount for a buy-to-let mortgage can be based on both the income generated from the rent and your earned income.
What is a Let-to-Buy Mortgage?
Let-to-buy mortgage is different from your typical buy to let, in this scenario we will have a homeowner who will be looking to rent their current home to then buy a new residential property.
We can assist our clients in both instances; helping them release equity from their existing mortgage to put towards their new residential purchase. In some circumstances, we can look at using the potential rent income they will receive towards their new purchase to help boost their income multiples.
What is a Consent-to-Let Mortgage?
A consent-to-let can occur to a client where they are locked into a fixed rate residential mortgage, and they are having to move out to live overseas or buy a new residential home and they don’t want to pay any early repayment charge on their current mortgage product to change their mortgage to a buy to let mortgage.
Most lenders we deal with will offer their clients a consent to let directly, however you should always check with them before renting the property out.
Limited Company Buy-to-Let
This can be dependent on your income, mortgage rates and capital gains tax. We would always advise to get appropriate advice regarding tax and your buy-to-let properties. We can discuss mortgage options with you and run through all appropriate products. We would need to discuss your current work situation; residential property ownership and other background buy-to-let properties.
We have close partnerships with specific Limited Company lenders, and we'll help you find the best product for your unique situation.
Bridging Finance
Investors might consider taking out a bridging loan to help buy and renovate an uninhabitable property that would be normally be refused a mortgage and then take a mortgage out on it once the property is fit for purpose or sell it at its new higher value.
Bridging loans has also helped a lot of investors secure properties quickly as loans are approved within weeks days and sometimes hours. At auctions, when transactions generally need to be completed within one month, bridging loans can help to secure a property at lower than the market rate within the short time frame required. Our bridging finance calculator can be used for auction borrowing or property investment assessments.
Borrowers might want to think of a bridging loan as a short-term mortgage and they are similar in many ways. In both cases, the loan value is determined by the property value. As with every secured loan, assets are at risk if the borrower cannot repay the borrowed amount. There are good reasons to take out a bridging loan, but weighing up the bridging finance advantages and disadvantages is essential, as is consulting a bridging finance calculator to ensure you make informed decisions.
Property Development Finance
Whether you are an experienced property developer wanting to expand your portfolio or just delving into the world of property development and are looking to refurbish and flip your first property, our experience and knowledge will ensure your financial needs are met.
We'll arrange a Property Development Loan package to suit you and offer help and advice through every stage of the process.
Property Development finance can be the best option for borrowing to build a new property or convert a unit - whether for residential or commercial use. Hilo Finance negotiates property development finance for a vast range of clients:
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Experienced property developers and building firms.
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Professional builders who construct their own properties on parcels of land and sell them at a profit.
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Developers who haven't built anything from scratch before.
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Self-build applicants who want to develop a primary residence.
Generally, you can borrow up to around 50% to 60% of the land cost or the property that you plan to convert.
Lenders are far more likely to approve an application if the site has planning permission. In other cases, they will offer to lend, subject to approval being secured.
In terms of the build costs, provided the total budget is within 60% to 70% of the gross development value (GDV), applicants can borrow up to 100%.
Property development finance tends to run on a shorter term, usually between one and three years as a maximum.
The lender will need to know how you plan to repay the debt after the period ends, usually selling the development or taking out longer-term refinancing.
Remortgages
There are a number of reasons applicants decide to remortgage their property. As moving from your current lender could get you a better deal.
You may be languishing on the lenders Standard Variable Rate (SVR) and by moving to another lender find yourself at a more competitive rate. In doing so the applicant potentially could save a couple of hundred pounds per month on their mortgage. At Hilo Finance we will endeavour to save you as much money as possible if we can do.
Applicants also tend to remortgage in order to borrow more money against their property for home improvements, to consolidate their debts or potentially purchase another property. Whatever your requirements may be Hilo Finance will aim to help you in your remortgage process.
Wills, Trusts & Probate
Whoever you are and whatever your circumstances, you no doubt have people that you care about and that are important in your life. That is true of all of us.
These are normally members of your family, your spouse or partner, your children, grandchildren, parents, etc. You may also have close friends that you trust & care about.
Much of your life is spent accumulating possessions, buying a house, saving for the future, planning for retirement and collecting ‘priceless treasures’ that have more sentimental than intrinsic value.
It is only natural that you would want to pass those things on to the people that you care about most. If you want to keep your assets safe, it is important to make sure that you have put as much protection in place as possible while you are still able to do so. Over the years we have helped thousands of people throughout the UK to protect their assets for their loved ones.
Our expert team offer specialist advice tailored to your individual circumstances, from basic Will drafting through to Trust solutions and Powers of Attorney. We can do this at a preferred location for you, and will talk you through the whole process so you are comfortable with the arrangements being made.
Insurance & Protection
Navigating the intricacies of critical illness insurance can feel overwhelming, perhaps causing you to postpone exploring it further. That's where we come in. At Hilo Finance, we specialise in simplifying the process of understanding and arranging critical illness cover.
Our team of mortgage and protection advisors are experts in this field and ready to find the right critical illness cover to meet your needs, granting you peace of mind along the way.
Personal Protection.
The majority of protection insurance policies offer not only peace of mind but also a financial safety net should illness, injury, or death occur. Regardless of your relationship status, whether you have dependent children or not, it's likely that you could benefit from some form of protection insurance. We all have aspirations for the future, but how many of us have established a safety net to ensure we can achieve them?
You might already have some coverage in place, which is excellent, but it's essential to periodically assess whether it still aligns with your needs. It's advisable to review your coverage every few years or whenever significant life changes, such as a relocation, occur. Life events can influence the type of coverage that should be in place.
For expert guidance and assistance in identifying the most suitable coverage to mitigate potential setbacks, the Financial Protection team at Hilo Finance is your go-to resource.