Hey WCA community my name is Serena founder of F M Financial Services. I am one the moderators within mortgage ready. Please feel free to ask me any questions regarding your mortgage in principle. I will also be posting information about what you need in order to get started. I look forward to assisting you all.

61 Palatine Road, Wallasey, CH44 7EN - £125,000 https://www.rightmove.co.uk/properties/143062991#/media?id=media0&ref=photoCollage&channel=RES_BUY This property comes tenanted for £850 PCM ON A 5 YEAR FIXED GURANTEED RENT SCHEME Lets brakedown the numbers asign a Wealth Creation Strategy 1. Property Purchase and Initial Costs: - Property Price:£125,000 - Deposit (25%): £31,250 - Mortgage Loan Amount: £93,750 - Stamp Duty: - If this is an additional property: £3,750 (3% of £125,000) - If this is your main residence, no stamp duty is payable. 2. Monthly Cash Flow: - Rental Income: £850 per month - Mortgage Payment: £547 per month (assuming a 5% interest rate over NEXT 5 YEARS FIXED - Monthly Rental Profit: £303 3. Overpayment Strategy: You plan to use the entire monthly rental profit (£303) to overpay the mortgage. This increases your total monthly mortgage payment from £547 to £850. 4. Impact of Overpayments Over the Next 5 Years: - Total Overpayment Per Month:** £303 - Total Overpayment Per Year:** £303 x 12 = **£3,636 - Total Overpayment Over 5 Years:** £3,636 x 5 = **£18,180 By overpaying £303 each month, you will reduce the principal balance of the mortgage more quickly, leading to substantial interest savings and shortening the loan term. Estimated Reduction in Mortgage Term: - Without overpayment, the mortgage would last 25 years. - With the overpayments, you could reduce the term by approximately 11-12 years, but since you are focusing on the first 5 years: - You will reduce the term by about 2-3 years within the first 5 years. Estimated Mortgage Balance After 5 Years: - Without overpayments: The balance might be around **£84,000**. - With overpayments: The balance could be reduced to around **£65,000-£70,000** depending on how much interest is saved. 5. Equity Growth Over 5 Years: Assume property value increases by 10% each year: - Year 1:** £125,000 * 1.10 = £137,500

Hello all just to update you mortgage rates are being reduced, we now rates starting from 4.68% when you put down a10% deposit. House prices are starting to creep up, so it's a great time to consider buying home before the anticipated house price boom. Did you know rates were this low?

Morning all! It's Friday and we've had such a successfully week 12 people have been pre approved for mortgages, 2 of which failed on there first try but we sourced them another lender that said yes! Who is going to be the next person to get an agreement in principle? Let's book a meeting to kick start your property ownership. Follow the link below to get booked in. https://calendly.com/serena-44/mortgage-update?month=2024-08 Enjoy your weekend

a big thanks to @Serena Franklin for getting us a mortgage in principle after several disappointments. Property ownership is definitely a solid foundation of wealth creation despite a high interest rate. thanks @Emmanuel Asuquo