Achieve Success with Oportfolio

So, you’ve done it. You’ve taken the plunge, found your dream house, sorted the mortgage (hopefully through us!), found a buyer for your own property and contracts have been exchanged. All that’s left now is to sit back, put your feet up and wait for moving day. Well, that’s what you might do if you miss having unnecessary stress in your life. But if you’d like to wake up on the day of the move feeling calm about the 24 hours to come, there are some things you can start doing the moment the move is guaranteed to happen. Declutter, declutter, declutter! First of all, it’s time to get rid of what you don't need. This is particularly important if you’re downsizing, of course, but even for those of us who are trading up to something with more space, it pays – literally, in fact – to get rid of the things you can before you say goodbye to the home you’re in. Whether you hire a specialist removal company or plan to shift the contents of your old home yourself in a hired van, every single item you transport from one property to the other will cost you money – either in the cost of the box it gets packed in, the cost of the people who arrive to carry it in and out of the lorry or in the cost of the van you have to hire. And of course, everything you pack needs to be unpacked at the other end, so the more you take, the longer it will be before you’re shipshape in the new place. Bottom line, it makes no sense at all to move stuff you don’t need to keep – so use the time you have now to get rid of it. Declutter outside, too! If you’re decluttering the inside, do the same outside. Dispose of the things you won’t be taking with you, especially anything that might be hazardous, like old paint, weedkiller, caustic soda, old barbecue gas containers and so on (making sure to take them to a facility that can dispose of them safely – your local tidy tip will be able to give you advice on the best way to do this). The same goes for the things in the garage and sheds that won’t be making the trip with you – that rake with the missing or rusty tines, the leaf blower that no longer works, the bike that’s too small for your youngest child. The same applies here as it does inside the house – why spend time and money moving something you haven’t used in years and don’t need? Be organised Pack smart by labelling the boxes with the rooms they’re going to go in when they arrive at the other end, especially if it’s not immediately obvious from what’s in the box. It also makes sense to prepare matching labels for the rooms themselves at your new home – matching Joe’s Bedroom with a room labelled Joe’s Bedroom is a lot easier for the movers than trying to match Joe’s Bedroom with Bedroom 1 or, worse, with rooms that aren’t labelled at all. Be prepared As you go through the packing process, have an Essentials box into which you put everything you might need in the first few hours at your new place. This might include plates and cutlery, mugs, enough glasses for everyone, coffee, tea and sugar, a book, pet food if appropriate, a packet of biscuits or other snacks and just about anything else you could possibly need before you get stuck into the task of unpacking in earnest. Don't forget to look after yourself Finally, on the day, take time to be kind to yourself. In most cases, there’s no deadline involved in unpacking into a new home other than the deadlines we set for ourselves, so be realistic about what you can and will achieve. In fact, if you’re super-organised, you might even arrange your packing so you know which boxes are priority boxes and which aren’t. Moving home can be stressful enough without adding to the pressure by setting yourself impossible targets. On moving day, take time to stop for something to eat and drink and to enjoy the sensation of being in a new place. You’ve worked hard to get there – so allow yourself to savour the moment by doing the hard work early rather than leaving it to the last minute.   To find out more about our friendly and professional mortgage service, fees and what we can do to help make sure you’re not paying over the odds for your mortgage, why not visit www.oportfolio.co.uk or give us a call on 020 7371 5063. Your property may be repossessed if you do not keep up repayments on your mortgage. Oportfolio Ltd fees are payable on application. We charge a broker fee for property purchases of £495 and a remortgage/further advance fee of £395. Our product transfer fee is £295.    

  When it comes to making plans for the future, one option that many homeowners consider is looking for additional borrowing from their existing lender or, if the circumstances are right, re-mortgaging in order to raise the money needed for a home extension. According to a consumer survey earlier this year the prospect of carrying out home improvements rather than moving is very attractive – but the scope to build additional space is also often a key criterion for prospective buyers looking for a property where there’s potential to build up, down or out. Deciding to add value through construction is all well and good, but what happens if you then discover your home is in a Conservation Area? Conservation areas are protected by law from undesirable change because they’re deemed important either environmentally or architecturally. Every local authority has at least one of these conservation areas in the district it controls and there are now more than 10,000 of them in the UK. The nature of what is protected differs from place to place. In some cases it might be limited to a few buildings boasting unique or historically-relevant architecture, in others it could be that the area is populated with ancient trees or that the general landscape is in some way worthy of safeguarding. In all cases, the nature of any building work that can be carried out is limited in some way and knowing what you can or can’t do before you start the planning process can not only save you financially by helping you to avoid wasting money on professional and local authority fees for schemes that won’t be approved, but can also dial down the potential stress of being underprepared. Typically, conservation areas are found in older cities, towns and villages, but can also be applied to early housing estates for their historical significance in town planning as well as to landmarks and country estates (including privately-owned property within their grounds). If you’re not sure whether your home – or the home you intend to buy – is in a conservation area, the chances are the local planning authority will have a specialist Conservation officer who will be able to tell you if there are any restrictions that apply. Not all local authorities have a specialist officer and if that’s the case for the area you’re interested in, someone in the planning department will be able to give you the information you need. So, what does being in a conservation area actually mean in practical terms? Well, the principal benchmark that applies to planning applications in a conservation area is whether the intended work serves to either enhance or preserve the property and the surrounding environment. All planning applications are assessed against this basic principle. Once that test has been passed, the design element of your scheme will come under greater consideration than it would if the project were being proposed in an area not protected by Conservation Area status. Design, in this context, doesn’t relate to the size, position or mass of the intended completed property, but rather to the quality of the design and how it fits in to its surroundings. What planning officers aren’t looking at is style – something of a different style to neighbouring properties isn’t necessarily a deal-breaker as long as it protects or enhances the immediate area. Contemporary design is also fine as long as the project meets that basic enhance or preserve test overall. Don’t be sucked into a game of ‘well the house down the street has got X, Y or Z, so why can’t we?’ Many factors can determine what has happened in the past – from work undertaken under permitted development rules which didn’t require planning consent, to different planning officers taking a different view at a different time, to a conservation area being designated very recently. There is no ‘precedent’ in play, which means engaging early with your planning authority is a good strategy. Finding out what’s likely to be allowed will save wasted drawings and wasted time on a process that won’t deliver the result you want. If you use a local architect, he or she may well have a good understanding of the local authority view on the area. A good rule of thumb is to make a positive effort to enhance or improve what exists now, to commit to referencing the local area in some way (by using local materials, for example) and to take care over how you present your plans (think about 3D modelling or hand sketches rather than relying on conventional blueprints alone). Developing property in a conservation area isn’t a no-no – but it does require some thought and positive effort.   To find out more about our friendly and professional mortgage service, fees and what we can do to help make sure you’re not paying over the odds for your mortgage, why not visit www.oportfolio.co.uk or give us a call on 020 7371 5063. Your property may be repossessed if you do not keep up repayments on your mortgage. Oportfolio Ltd fees are payable on application. We charge a broker fee for property purchases of £495 and a remortgage/further advance fee of £395. Our product transfer fee is £295.          

With Theresa May having emerged from her Brussels trip with unanimous backing for her plan for Britain’s exit from the European Union and prepares for tomorrow's Parliamentary vote on it (assuming continued Cabinet concerns about the likelihood of a Commons defeat don't mean it's postponed), one of the big questions which has yet to be answered is what the future holds for interest rates and, more specifically, the mortgage market. There’s much speculation about the many and varied potential economic consequences of Britain’s departure from the union – from the thorny issue of what happens with the Irish border to inward investment from overseas and the effect a future without a European trade agreement might have on our supermarket shelves. But arguably the biggest concern for individuals and business alike has been the potential effect on interest rates and the housing market. According to the Office for National Statistics, the housing market is now growing at its lowest rate for five years and in September the Governor of the Bank of England, Mark Carney, warned that a no-deal exit from Europe might force a rise in interest rates. So with the Prime Minister now looking for Parliament to sign up to a deal viewed as acceptable to remaining members of the EU, but which has received a lukewarm reception from pro-Leave MPs in her own party, what is the likely effect of Brexit on the mortgage market. The honest truth, of course, is that no-one really knows, and the level of largely speculative white noise around the subject since June 2016 when the UK voted to leave has been unhelpful at best. The variables are many and varied – interest rates in a no-deal withdrawal, for example, may look very different than they would in a Norway- or Canada-style European Free Trade Agreement. And until Parliament meets to debate the proposed agreement, none of us really have any idea what might be in store in that regard. So if we don’t know the answer to the specific question about what interest rates might do in our new post-March 2019 world, what do we know right now about the housing market? The first absolute is that interest rates will affect most homeowners regardless of our European status. This is simple fact. If you currently have a mortgage and you expect to have a mortgage at the time we leave, then whatever happens to interest rates will affect you whether you do nothing, move house, extend your borrowing or remortgage. We also know that the reasons for moving will remain unchanged. People move home – and, therefore, move mortgage – for all sorts of reasons: downsizing, upsizing, a change in job circumstances and/or location, family commitments and health reasons can all play a part. So, the motivation to move will be no different. It’s also probably fair to assume that the mortgage market will continue to be competitive. That doesn’t mean rates won’t go up, but such is the competition for business within the mortgage sector that it’s reasonable to guess that whatever context they have to work within – whether that’s against a landscape of increased rates or not – lenders will be doing whatever they can to offer the most attractive rates possible. In short, lenders’ profitability will depend on continuing to generate new business. We can probably also have confidence that the Bank of England will be doing its utmost to take a measured approach to how it responds to changing economic factors. The Bank regularly stress tests lenders’ ability to cope with changing demands and any rise in interest rates is likely to be agreed only where there is a longer term advantage to be gained in protecting the UK’s overall economic health. Whilst you can never say never, a return to the knee-jerk policies on interest rates we saw towards the end of the 1980s and which led to explosive rises in base rates overnight seem highly unlikely in the context of what the financial sector has learned in the decade since the economic crash of 2008. The question for most people is likely to be about whether it makes sense to extend their borrowing, either through an additional loan from an existing lender or a new mortgage from a new lender, until the picture becomes clearer. That will be a greater consideration for you depending on affordability – and that’s where the FCA and Bank of England rules on lending should help anyway, weeding out those applications which fail tougher lending criteria. If you’re considering a change in your mortgage for whatever reason, our advisers can help you to assess your personal situation and finances and advise you on the best course of action according to your circumstances.     To find out more about our friendly and professional mortgage service, fees and what we can do to help make sure you’re not paying over the odds for your mortgage, why not visit www.oportfolio.co.uk or give us a call on 020 7371 5063. Your property may be repossessed if you do not keep up repayments on your mortgage. Oportfolio Ltd fees are payable on application. We charge a broker fee for property purchases of £495 and a remortgage/further advance fee of £395. Our product transfer fee is £295.          

It’s been a few months since I last wrote about Brexit and its likely impact on interest rates, the mortgage sector and the residential property market. That was not long after the deadline for the UK to leave the EU was extended to the end of October. So, now that we’re roughly halfway between the last deadline and this one, what’s changed? On the one hand, nothing much has changed at all. There’s no more clarity now on how we’ll leave the bloc (or even, perhaps, if we’ll leave) than there was three months ago. But politically-speaking, on the other hand, everything has changed. We have a new Prime Minister working with an even more slender majority than his predecessor and leading a party that, if anything, is more divided than it has been at any point since the EU referendum. He chairs a cabinet that is loudly pro-Leave and, publicly at least, completely aligned to taking the UK out of Europe on October 31 come what may. Outside the inner sanctum of the cabinet, former senior ministers warn of chaos ahead if Britain is allowed to crash out of Europe without a deal, while the apparatchiks of central and local government ramp up their preparations for No Deal. Labour is said to be planning a vote of no confidence in a bid to force a General Election. The Liberal Democrats have a new leader in Jo Swinson, and her fiercely pro-Remain party is attracting membership applications from former Tory MPs, disillusioned with their brief stint as part of the Change UK party. All in all, things have certainly been better within Great Britain PLC. But what does the uncertainty mean if you’ve got a mortgage or you’re thinking of buying and/or selling your home? Naturally, it depends on what you read, who you listen to and whether you’re on the Winnie the Pooh or Eeyore side of the optimism/pessimism divide. But amid the more outlandish crystal ball-gazing, there have been some interesting and well-informed hypotheses doing the rounds recently. The general consensus seems to be that a No Deal Brexit would substantially increase the chances of an economic downturn. Some commentators have stopped short of predicting a full-on recession, but others haven’t been quite as shy. According to the Guardian’s personal finance and consumer correspondents, this may not be a bad thing for homeowners where interest rates are concerned. Their joint article talks of mortgage interest rates returning to their sub-1% levels of 2016 and even of the Bank of England imposing a zero rate to ease the transition to a new trade arrangement with the rest of the world. Such a move would undoubtedly be welcomed by homeowners who suddenly find their mortgage rates significantly reduced. But the other side of that coin, of course, is the resulting misery for savers and investors. As for house prices and whether now is the time to buy or sell, the same article suggests that trying to predict whether to move before or after October 31 is more likely to be a lottery. Having said that, the fact remains that if you consider your finances to be insulated from the immediate impact of Brexit – whether with or without a deal – then when you move is less of an issue. The only question at that point is whether you can sweeten the process by winning out on the price at which you agree to buy and securing the market value of the house you sell. The Daily Mail’s financial website This Is Money reports that there’s been a growth in the appetite for long-term mortgage deals, including the recently-trending 10 year fixed product some lenders are offering. As I said in our recent article on whether you should fix your mortgage rate, we’d advise caution when it comes to locking on to a long-term deal. They tend to be more expensive and if rates do come down – which is a distinct possibility over a period of a decade – then you’re going to lose out in the long run. There are circumstances where a long-term fixed product might be right for you – but I would strongly advise getting advice from a professional mortgage expert before you commit. And then  there are the conflicting calls in the Express and Times for the Bank of England to either raise interest rates and demonstrate its commitment to – and confidence in – Brexit (Express), or cut rates ahead of Brexit to ease the impact on the economy (Times). So, even the papers are divided on the best approach to fiscal policy. The fact is, we won’t have true clarity until October 31 arrives. In the meantime, the world keeps turning and life goes on. My advice is always that you should take any long-term financial decision – such as buying a house – in the context of your long-term financial security, and ultimately that comes down to the answer to the question of whether your potential financial exposure is controllable. Any investment is a risk – but calculated risks, where you’ve looked at the worst-case scenarios and demonstrated you can survive them, are always going to be preferable to walking into a commitment blind. The best thing you can do if you’re thinking about moving in the next three months is get some advice from a professional broker and a financial adviser – and factor that advice into your decision.     Need more information about your mortgage options? Take a look at our short guide to remortgaging.  To find out more about our friendly and professional mortgage service, fees and what we can do to help make sure you’re not paying over the odds for your mortgage, why not visit www.oportfolio.co.uk or give us a call on 020 7371 5063. Oportfolio Limited is an appointed representative of Primis Mortgage Network, a trading name of First Complete Limited which is authorised and regulated by the Financial Conduct Authority Your property may be repossessed if you do not keep up repayments on your mortgage. Oportfolio Ltd fees are payable on application. We charge a broker fee for property purchases of £495 and a remortgage/further advance fee of £395. Our product transfer fee is £295.

Anyone who’s looking to get their foot on the first rung of the housing ladder or has just managed to find their way onto it will know that being a first-time-buyer can be an extremely challenging and stressful time. You’d almost have had to have been living under a rock to have missed the fact that the turbulence of the last post-financial crisis decade has made the lending environment a darned sight tougher than it was for the previous two or three generations. But it’s not just the rigour of affordability tests that you’ll have to contend with as a first-time-buyer. You’re also going to feel hamstrung by your lack of experience in the market, and that’s something that many people underestimate when they set out to buy their first house. But first things first. Let’s deal with the first obstacle. Deposit & Affordability The simple fact is that whether this is the first house you’ve bought or the fiftieth, you’re going to have to prove to prospective lenders that you can pay back the money you want to borrow. This is the first and most important hurdle you’ll need to clear – if your lender decides you can’t afford the repayments, then everything else is immaterial. And if you can’t buy the house on your own? Well, there are still options available to you. Some lenders now offer products that allow a family member to guarantee or underwrite the repayments. Or, it could be that you know other people who might be prepared to buy the property jointly with you and view their share of the ownership as a long-term investment. In both cases, though, it’s wise to get professional advice to make sure you don’t find yourself under pressure to sell quickly and unexpectedly in the future. There are now more mortgage products on the market that will allow you to borrow the entire cost of a property – these are known as 100% mortgages. But attractive as these may be, consider them carefully because there are downsides (e.g. it’s easier to fall into negative equity if you have no capital tied up in your home). In any event, the more attractive mortgage products that will be available to you are likely to require you to put up some of the cost yourself in the form of a deposit – and having something to put down also reassures the lender that you recognise scale of the financial commitment you’re making. Making a mortgage application You could apply for your mortgage online or in a lender’s branch. But it would probably serve your best interests to talk to an independent mortgage broker to get access to products you won’t be able to find yourself. There are very clear benefits to working with a professional mortgage broker. At Oportfolio, for example, we’ll advise you on affordability, the best way to structure your loan and the benefits of each product you might want to consider – but we’ll also look after your application from the point you start to the point you receive your mortgage offer and beyond. You’ll need to have quite a bit of personal information to hand to complete your application, but your broker will walk you through that, too. If you’ve already found a property you love, the estate agent you’re dealing with may push you to make an appointment with their in-house or preferred mortgage adviser. The only thing to know here is that there’s no obligation for you to do that unless you want to. It’s a good idea to get a mortgage offer in principle before you start house hunting. Most agreements in principle are valid for between 60 and 90 days, giving you a good amount of time to find a property and make an offer. Making an offer So, you’ve got a mortgage agreed in principle and you’ve found your dream home. How do you work out what to offer? To some extent, of course, you’re going to be constrained by the amount you’ve been told you can borrow. If you’re like most of us, you’ll probably have been including in your search properties that are slightly out of your budget in the hope you might be able to get a lower offer accepted. This is where your agreement in principle comes in handy, because as a first-time-buyer with no chain and a mortgage already approved, you’re going to be more attractive to a seller who needs to shift their property to get the upper chain moving. To get a real sense of how much the house you want is worth, do some research. Find out what similar properties in the area have sold for in the recent past. What motivates a homeowner to sell is hard to guess. They may need to sell their property at the very top of its value to make their own step up the ladder. They may have priced their home to sell quickly because they’ve seen something they like and want to move fast. Or they may just be testing the market and are prepared to wait for the right offer. In the end, though, a house is only ever worth what someone’s prepared to pay for it – so knowing your own limit will allow you to make a confident offer. Oh no – my offer has been rejected! You really want the house, but the current owner has said no to your offer. Although this is disappointing, it’s not the end of the world. You have two options – either increase your offer if you can afford to (but it’s good practice to know the price beyond which you will not go) or walk away and find something else you love. The survey suggests there’s a problem This can be a minefield. If the problem is serious, it may prevent you from securing your mortgage (which will have been offered in principle on the basis the property you want to buy is sound). If it’s not a problem so serious as to be a dealbreaker, then can you afford to make the necessary repairs? Alternatively, can you use the problem to renegotiate your offer and then talk to your mortgage lender to see if you can use part of the loan agreed in principle to carry out the repairs. Again, a professional mortgage broker can help you here. There are few problems which are insurmountable in a property deal, but knowing how to circumnavigate the bumps in the road is easier when you have sound advice to work with. Remember, too, that you will need to appoint a solicitor or specialist conveyancer to take care of the legal stuff related to your purchase. Your mortgage broker will probably know someone they’re happy to recommend – but also ask for recommendations from friends and family. Above all, enjoy yourself – finding and buying your dream home should be an adventure, not a chore! Watch our video for first-time buyers and get a headstart on the things you need to consider when you start looking for your first home.   To find out more about our friendly and professional mortgage service, fees and what we can do to help make sure you’re not paying over the odds for your mortgage, why not visit www.oportfolio.co.uk or give us a call on 020 7371 5063. Oportfolio Limited is an appointed representative of Primis Mortgage Network, a trading name of First Complete Limited which is authorised and regulated by the Financial Conduct Authority Your property may be repossessed if you do not keep up repayments on your mortgage. Oportfolio Ltd fees are payable on application. We charge a broker fee for property purchases of £495 and a remortgage/further advance fee of £395. Our product transfer fee is £295.

If you search on the web for advice on the things you should do when choosing a mortgage, you’ll get a lot of information back. Some of it’s good, some of it not so good. But as important, if not more so, is what you should avoid doing. Here’s our guide to the mistakes you’d do well to avoid making. Don’t approach your hunt for a mortgage in the same way you would if you were buying a washing machine We know that sounds obvious, but you’d be surprised at the almost laissez-faire way a good many people approach the business of securing the finance to buy their home. Put simply, buying a home is a huge investment – and almost certainly the largest single purchase you’ll have made in your life at that point. It’s fine to buy a washing machine from Amazon or another online retailer. If it doesn’t work, you send it back. If you realise there was a better model you could have bought, it’s not a calamitous financial mistake to have to live with. Choose the wrong mortgage provider or product, however, and you could be paying for it – literally – for years. Don’t obsess about the interest rate We’ve said this before, but it’s worth repeating. If the only thing you’re looking at is the interest rate, then the chances are you’re missing a trick. Yes, how much you’re going to pay each month is important and so that means the rate is a factor in your decision – but it’s not the only factor. Is the rate fixed or variable? If it’s fixed, how long is it fixed for? Are there early exit fees? Is there an arrangement fee? Will you be able to overpay if you want to, and if so, by how much? Just as importantly, is the mortgage provider reputable and do you believe you’ll get good support and care during the lifetime of the loan? The days of personal 121 contact with an account manager may be over, but your relationship with your lender remains just as important today as it always did. Don’t chase lower rates at the expense of lender reputation  Even if you do put a lot of store by the interest rates on offer from lenders, they don’t always tell the whole story. If you saw what looked like two very similar cars on offer from two different dealers, and one was significantly cheaper than the other, you might be tempted to buy the cheaper of the two. But it’s always worth taking pause for thought. There could be legitimate reasons for two apparently identical mortgages being offered at different rates of interest. It could be that one lender is squeezing as much margin out of the loan as possible to maximise profit. Equally, it might be that they’re a bigger, more well-established and reputable lender, with bigger overheads and a better overall service. Don’t take a mortgage from an unregulated lender  If you do nothing else (and we hope you’ll do a lot more than this), don’t take a mortgage with an unregulated lender, because when things go wrong, you have no easy recourse to get them put right. Unregulated lenders aren’t subject to the same lending standards as regulated banks and building societies and don’t offer the same protection. Do your homework and ensure your lender is reputable and regulated by the Financial Conduct Authority. If you’re in any doubt at all, hit the pause button and reconsider. Use a professional mortgage broker  If you only follow this final – and, we’d obviously argue, most important - rule, you’ll also avoid making the first four mistakes, too. A good, professional mortgage broker will also be regulated – giving you protection against bad advice – and will know the market inside out. They’ll know what deals are available, what products will best suit your circumstances (not just today, but in the longer term, based on your priorities and ambitions) and the lenders who can offer you the best options for buying your home. At Oportfolio, we’re mortgage experts regulated by FCA and with years of success behind us – so if you’re ready to take the next step in your property journey, we’re ready to help you.   Want to know how other clients felt about working with Oportfolio? Watch Gus and Selena’s video story!     To find out more about our friendly and professional mortgage service, fees and what we can do to help make sure you’re not paying over the odds for your mortgage, why not visit www.oportfolio.co.uk or give us a call on 020 7371 5063. Your property may be repossessed if you do not keep up repayments on your mortgage.  Oportfolio Ltd fees are payable on application. We charge a broker fee for property purchases of £495 and a remortgage/further advance fee of £395. Our product transfer fee is £295.

It’s always lovely when the values you promote as a business are recognised publicly, so there was open delight at Oportfolio when the company’s founder, Oliver Whitehead, was named Best Overall Adviser at the recent Primis awards ceremony. It was Oliver’s third year of success at the awards, which recognise and celebrate the best UK mortgage and protection advisers and are organised by Primis – one of the biggest networks of financial services brokerages in the UK. His award this year saw him retain the Overall Adviser award he won in 2018, a year after being named Top Mortgage Adviser in 2017. The accolade serves as a ringing endorsement for the very simple principle that underpins Oliver’s approach to Oportfolio, a business he started 11 years ago following a decade in financial services, running his own mortgage brokerage and as a Director at Alexander Hall. Oliver said: “Ultimately what we strive to do is look after people in the same way we would want to be looked after ourselves. It’s that ethos of wanting to help people and to go the extra mile in doing it.” In the end, this month’s award is ongoing reward for a seed which was planted back in 1998 when Oportfolio first opened its doors and welcomed its first client – that the values and ethics that the company is built on should run through the veins of everyone who has ever worked there or will ever work there. Building a company in your own image is no easy feat and, as Oliver himself observes, providing high quality service has become something of a dying art for many companies. But by doing things the right way from the start, the process has got easier as the business has grown and its client base has increased. There’s also the fact that Oliver insists that the first contact the company has with a potential client is as good as the last contact. He makes a point of responding personally and immediately, wherever possible, to an initial query. You might think that’s obvious, yet this proactive approach isn’t as common as you might imagine. What that translates into in most cases is a sense in the person on the other end of the phone that they’re being looked after and are in safe hands. “I know that when people get in touch with us, what they’re really looking for is reassurance. They simply want some love and to know that the people they’re talking to not only know how to help them, but actively want to help them. “In the end, that’s what my business has always been about – the desire to help people and to do that in the right way.” Oliver concedes that his own determination and commitment to deliver a consistently superior level of service is partly behind not just the awards success, but also Oportfolio’s continued growth and high client retention rates. “That has to be a part of it, yes,” he admits. “although you can never completely replicate yourself in other people. “But experience and knowledge also plays a big part. The whole team here is completely aware of the process that lies behind applying for a mortgage. We know it can be an anxious or worrying time – but our job is to take that worry away, to reassure them that with our help it wont be as stressful as it may seem to them.” Knowing the market inside out and understanding which banks will be prepared to lend what amount under what circumstances is a big part of being a successful brokerage, of course. But it’s where circumstances aren’t straightforward that is where Oliver expects Oportfolio to earn its stripes. “That’s where the hard work is done,” he says. “In finding solutions to the problems we come across so that the people we’re helping still achieve what they set out to achieve.” All of which means that the awards that currently sit on Oportfolio’s shelves are much appreciated by Oliver and his team – but are really symbols of the hard work done in the past, and a reminder that the same level of commitment to the great service is required today, tomorrow and beyond.   To find out more about our friendly and professional mortgage service, fees and what we can do to help make sure you’re not paying over the odds for your mortgage, why not visit www.oportfolio.co.uk or give us a call on 020 7371 5063. Your property may be repossessed if you do not keep up repayments on your mortgage. Oportfolio Ltd fees are payable on application. We charge a broker fee for property purchases of £495 and a remortgage/further advance fee of £395. Our product transfer fee is £295.

At Oportfolio, we know that success in life is only really possible when you have financial security – and in a competitive and challenging economic environment, that can be hard to come by. Having financial protection is one way of making sure you can meet your commitments when life throws you a curve ball and you find yourself unable to work whether through a change in employment circumstances or illness. But with so many different products on the market – and so many providers to choose from – working out which product is the right one for your potential needs isn’t always terribly easy, particularly since it’s impossible to predict exactly what your circumstances might be at any given time in the future. Two of the most familiar insurance products that protect your personal finances are critical illness cover and income protection insurance. So how do you make the choice between the two? Unless you have some specialist knowledge of the market, trying to evaluate and compare products yourself can risk making a choice that doesn’t really achieve what you wanted. The simple answer, of course, is to use a professional broker who can advise you on the best solution according to what you think you might require and can access a wide range of products to give you flexible options. What’s the difference between critical illness cover and income replacement? Understanding what you’re paying for and the way in which it might benefit you is the obvious first step when it comes to buying any product, whether that’s a dishwasher, a coat or an insurance policy. So let’s start there. Critical illness cover is an insurance policy which will pay out a fixed lump sum should you be unfortunate enough to contract one of a number of specified illnesses listed in your policy that stop you from earning. Crucially, if you contract a serious illness which isn’t listed on the insurance schedule, the policy will not pay out. Once a policy pays out, cover ends – so in most cases this type policy is valid for a single claim. Income protection cover is an insurance product that will replace your regular monthly income should you find yourself unable to work either permanently or temporarily for any reason as defined by the policy. If you’re able to return to work, the payments will cease; however, cover (and premiums) will usually continue, meaning that most policies of this type allow for multiple claims. What’s the cost? Inevitably, when it comes to both policies the cost depends on your circumstances, salary and the level of cover you require. The cost of replacing a salary of £80,000 is clearly going to be costlier than a policy that protects and income of £30,000, assuming all other circumstances are the same However, as a very broad rule of thumb, a report from FT Adviser suggests that to provide an income of £250,000 over 5 years (whether in instalments via income protection or a lump sum as critical illness), the cost of critical illness cover is about three times that of income protection. So, if income replacement is generally cheaper, is that a better option? Not necessarily, no. Critical illness outsells income replacement by roughly 5 to 1 in the UK because many people prefer to have a lump sum that will allow them to juggle their immediate priorities in a more flexible way. But although a lump sum will allow you to pay off, say, your mortgage, that’s of little use if you can’t then meet your other financial commitments. One also needs to come to a judgement over how and when you’re most likely to claim on either policy. Recent data, from the same FT Adviser report quoted above, suggests 60% of all income replacement claims are made as a result of accidents, stress or musculoskeletal conditions – none of which would be covered by a critical illness policy. By contrast, cancer – which is one of the conditions specified within a critical illness policy – accounts for only 15% of income replacement claims So, it’s clear that understanding the risks as well as the benefits are a fundamental part of choosing the right insurance product, and that’s why it makes sense to speak to a specialist professional adviser before you commit. It all seems very complicated. Why do I need income protection at all? While many companies offer some level of financial support for employees when they can’t work, very few provide that assistance beyond a year (and for many more, it’s much less). There are state benefits which are designed to offer some sort of help, but these would be unlikely to cover the financial commitments of a high earning individual. At Oportfolio, we’ll work closely with you to help you to identify the advantages and disadvantages of both types of insurance and recommend the best solution for you personally. Knowing you and your family are protected when times get tough is great for protecting your success in life – but deciding the best way of doing that requires expert knowledge and advice.   To find out more about our friendly service why not visit www.oportfolio.co.uk or give us a call on 020 7371 5063 Please note for these insurance products terms and conditions apply. This information is a summary only. You will receive a full policy document upon application. This policy will set out the terms, conditions and limitations of cover provided under the plan Your property may be repossessed if you do not keep up repayments on your mortgage. Oportfolio Ltd fees are payable on application. We charge a broker fee for property purchases of £495 and a remortgage/further advance fee of £395. Our product transfer fee is £295.  

Research published in June 2017 shows the astonishing lack of critical illness or income protection insurance taken out by the UK workforce. The research conducted by Canada Life Group Insurance, which surveyed 1,010 full- and part-time employees in the UK, shows few across the country have a financial back-up plan in place should they fall seriously ill. Only 18% of respondents said they had some form of critical illness or income protection insurance to help them out should they contract a critical illness that impacts their earnings potential. Most shocking is that 72% said that they would struggle to cope financially should their income drop by £570 a month. That figure’s significant in that it’s the average loss of income experienced by approximately 80% of families following a cancer diagnosis. In cases where a major income earner in a household is hit by a serious illness, the right critical illness or income protection insurance policy can help act as a financial buffer and offer financial support during times of crisis. The case for critical illness or income protection insurance The research by Canada Life Group Insurance also highlights numerous other statistics that support the case for critical illness or income protection insurance. Some of which include: 80% of respondents who are single and have children as dependents would financially struggle should they lose £570 a month. Only 10% of that 80% have some kind of critical illness or income protection policy 70% of those in a committed relationship or are married and don’t have children would also find themselves struggling to cope financially. Only 18% of that 70% have some kind of critical illness or income protection policy 71% who are committed/married with children would struggle to cope financially with a loss of £570 per month. Again, only 22% of that 71% have covered themselves with a specific critical illness or income protection policy 18% of respondents say that they have no savings at all, while 10% admitted to having less than £1,000 in savings to cushion the blow should they be hit by a serious illness 45% say they would have to apply for state benefits to help them get by financially if they were diagnosed with a serious illness, while 22% worry about being a financial burden on their family The importance of protecting yourself with personal insurance One of the more striking figures to take from the survey is that 46% say they aren’t worried at all by not having a personal or income protection policy, which is an attitude that flies in the face of the statistics mentioned above. With so many saying they’d struggle to pay for their lifestyle if they encounter a serious illness, and with 72% admitting they’d struggle to afford basic utility bills should their income fall by £570 a month, the benefits of a critical illness or income protection policy as a safety net are there for all to see. Working alongside Oportfolio’s specialist consultants can help people to better understand what type of critical illness or income protection policy is most suitable for them at their current stage of life, as well as helping them to find a policy that’s appropriate for them and the dependants who are reliant on them. Contact Oportfolio today to discover more about the range of personal protection policies available for your needs and budget. Please note that neither Oportfolio Limited or First Complete Limited are responsible for the accuracy of the information contained within externally linked sites accessible from this page.

As the UK takes its first tentative steps towards coming out of lockdown, the worries that enforced social isolation brought – concerns over job security, food shortages and the clear risk to health – are for many people being replaced by new anxieties relating to what our new world is going to look and feel like. For some people there will be an understandable sense of conflict as the government begins to carefully reopen Great Britain PLC. https://youtu.be/CMG5E5e6bPQ We want life to return to normal, but we know the pandemic isn’t entirely behind us; we’re looking forward to seeing friends, family and colleagues who we’ve perhaps only seen on a video link for the past two months, but we still fear the possibility of infection; and we want to return to work and regular (and secure) income, but we’re apprehensive about the long-term effect of this crisis on the economy. What that anxiety may well translate into is a reluctance to make decisions about the long-term future. But economic recovery – globally, domestically and personally – will only be realised when we have the confidence to act, spend and invest with confidence. And for that, you need the assurance and peace of mind of knowing you’re acting on the right information, advice that’s suited to your individual circumstances and guidance that insulates you as far as possible from financial risk. That’s where we come in. At Oportfolio we have years of experience and expertise in finding the mortgages and financial protection products that are best suited to our clients’ personal needs. Mortgages The housing market is now back in business, though for obvious reasons it’s going to be a slow process regrowth following two months of inactivity and sweeping changes in the financial circumstances of many people who might have been looking to move this summer. That said, if you need to move or your own financial situation has been less affected by lockdown than has others’, then there is still business to be done in the housing sector – and the slow market could well be an advantage for those in a strong position to buy. And with interest rates at an all-time low of 0.1%, there are also lots of good mortgage deals out there. So, if you’re still committed to moving in 2020, we’re ideally placed to help you find the best mortgage to set you on your way. Personal Protection The pandemic has taught us many things, but one of the key lessons has been that being financially prepared for the worst is essential. It’s an unfortunate fact that over the last eight or nine weeks a great many people have had to face what might, two months ago, have seemed like an entirely hypothetical question: what would you do if you suddenly found yourself without an income? But it’s a question that doesn’t just relate to the economics of employment. What if you suddenly suffered life-changing injuries in an accident, or received a diagnosis of a serious or terminal illness that left you physically or mentally unable to work? Would your family be able to cope financially if you died suddenly? Life insurance – whether in trust to avoid Inheritance Tax or not – to provide for those you leave behind, critical illness cover to give you a lump sum payment if you become seriously ill and income replacement insurance to give you a regular monthly payment should you be unable to earn for an extended period are all options that we can advise on to give you peace of mind. Wills According to consumer organisation Which?, more than half of all UK parents don’t have a Will – meaning the spouse/partner and children left behind risk receiving nothing. Making a Will is simple and straightforward, and something we can look after for you. So, if you’re ready to start making the decisions that will get your life back to some semblance of what might be normal, but you want a trusted professional adviser to guide you, we’re just the people to talk to. Why not get in touch with us for a friendly and informal chat – we’d love to hear from you. Please note: all information contained within this article was accurate at the time of publication.     Oportfolio Limited is an appointed representative of Primis Mortgage Network, a trading name of First Complete Limited which is authorised and regulated by the Financial Conduct Authority Your property may be repossessed if you do not keep up repayments on your mortgage. Oportfolio Ltd fees are payable on application. We charge a broker fee for property purchases of £495 and a remortgage/further advance fee of £395. Our product transfer fee is £295.  

If you’re a homeowner, the chances are you’ll already have a life insurance policy in place to cover your mortgage, either because you decided it was the smart thing to do (which it is), or because your mortgage lender insisted on it. If you don’t currently have a life policy but you have a significant outstanding debt on your mortgage loan, it would be prudent to consider taking out a policy to ensure that should you die the people you leave behind are able to meet that financial commitment. https://www.youtube.com/watch?v=kRZl7jP6rHM But the key question today, if you do already have a policy, is whether or not your policy was set up in a discretionary trust. Current Inheritance Tax (IHT) rules mean that if the estate you leave behind amounts to a value of more than £325,000, anything above that figure will be taxed at a rate of 40%. Your estate comprises all of your property and financial assets, including any insurance policies you may have that pay out on death. In many cases, it is these policies that tip someone’s estate beyond the £325,000 tax-free threshold. There are circumstances in which this threshold can be extended – for example, when the estate is passing to a spouse or civil partner. But in most other cases, that figure of £325,000 is likely to trigger the tax liability on your legacy. By writing your life insurance policy into trust, it can be excluded from your estate for probate purposes, meaning your loved ones will benefit from the full value of the policy when it pays out. And because it is not considered as part of the probate process which, depending on the complexity of your estate, can take weeks or months to complete, the people you leave behind should receive that money more quickly. It is rarely the case that your insurance company will pay out on your policy quickly. Their own claim processing times can also be long and drawn out and that can mean delays for your family at what is already likely to be a very distressing and expensive time. Having your policy written into a discretionary trust circumvents that problem as well. How discretionary trusts work To write a life insurance policy in trust requires you (known as the settlor) to set up the trust, specify formally who you want to receive the proceeds of the trust and on what terms – which, for the purposes of this example, we’ll assume is upon your death – and appoint trustees who will administer the trust fund when the time comes. Your beneficiaries will all fall into defined classes and this is to ensure your nominated trustees are able to properly identify who should receive all or part of the gift, as determined in your instructions. Your beneficiaries can be anyone of your choosing, but they must be able to be identified in one of the several classes that will apply to the trust. For example, you may specify ‘my grandchildren’ or ‘my nieces’, but you would not be able to specify something very general like ‘all my friends’, because the trustees would have no way of knowing how you defined a friend. When you die, your trustees will be able to pay your nominated beneficiaries immediately and directly, according to your wishes, without that lump sum being included in your estate for probate and thereby making it exempt from any potential IHT calculation. It isn’t difficult or complicated to set up a life insurance policy with this structure, but it is a good idea to ask a professional adviser like Oportfolio to do this for you to ensure it is watertight, properly reflects your wishes and meets all the tax tests that might potentially be applied to it. A further advantage of setting up your life insurance in a discretionary trust is that it ensires a definite outcome even if you were to die without a will. If you haven’t reviewed your life insurance cover and needs for a while, maybe now is a good time to do so. Why not get in touch with a member of our friendly team and see how Oportfolio can help to give you and the people you love financial security for an uncertain future.   Please note: all information contained within this article was accurate at the time of publication.   Oportfolio Limited is an appointed representative of Primis Mortgage Network, a trading name of First Complete Limited which is authorised and regulated by the Financial Conduct Authority  Your property may be repossessed if you do not keep up repayments on your mortgage. Oportfolio Ltd fees are payable on application. We charge a broker fee for property purchases of £495 and a remortgage/further advance fee of £395. Our product transfer fee is £295.  

As we approach the end of our fifth week of enforced social distancing, the impact on how we live life and – crucially – how we manage our personal finances has been radically altered. The government’s fiscal response to the current crisis has been focused predominantly on protecting the incomes and revenues of businesses and, consequently, individuals. The clear message has been that this situation and the economic fallout it is causing might continue for some time. But although it might be instinctive for us to close the purse strings tighter, there are some things that are worth investing in now – not just because they might prove invaluable during this period of uncertainty, but also because they will provide peace of mind in the years to come. If Covid-19 has taught us nothing else, it has proved that life is never certain and that circumstances, especially those relating to financial security, can change fast. You may already have some level of protection in place, but reviewing your current arrangements and making sure you and those you’re close to are properly protected financially is a smart move even at this strange time when we are consciously or unconsciously spending less. The government has already promised to provide financial relief to employees who are unable to work as a result of the coronavirus. You may be one of those affected, and I’m sure the guarantee of receiving 80% of salary is a big comfort for those who are. But the reality of this situation is forcing everyone to think about how they would meet their financial commitments if they found themselves suddenly unable to work. Although this extraordinary period will come to an end eventually, the risk of losing income will always be present. It comes in the shape of poor and debilitating health or, worse, death. So how robust are your own measures for protecting your finances and your family? Let’s take a look at the key products you should be considering now to protect yourself tomorrow and beyond. Life assurance It’s likely you already have a life assurance policy to cover your mortgage in of your death or that of a joint mortgagee. But are you confident it’s fit for purpose? Depending on the type of policy you have, it may be it no longer provides you with the security it once did. That could be because as you’ve progressed through life your commitments have changed and grown but you haven’t modified your insurance to match them. If you have a whole life policy, it will pay out a fixed lump sum whenever you die. Is that enough to repay your remaining mortgage debt and provide ongoing security for your loved ones? If you have a term policy, the sum paid on death is either the same regardless of when you die (level term), decreases over the life of the policy (decreasing term) or increases over time (increasing term). You need to be sure the sums that will be paid are sufficient to meet the needs of those left behind – especially if you have a decreasing term policy. Critical illness cover Also known as cancer cover, since cancer is the condition that triggers most payouts, this policy will pay a lump sum on diagnosis of a terminal illness. The payment can be used for any purpose, whether it’s to pay down mortgage debt, fund private treatment or meet ongoing living costs. Income protection Income protection offers a regular payment to replace the majority of your salary should you become unable to work either over an extended period, or permanently due to an injury or chronic illness. Although the payment is a proportion of your regular income, the fact they’re tax free means they will be close to your take home pay amount. We have seen over the last two months how quickly and suddenly things change. Protecting your personal finances now is just one way that you can mitigate the impact of your circumstances changing significantly in the future. If you’d like to find out more about these products or learn how Oportfolio can tailor personal protection to your specific needs and circumstances, why not get in touch with a member of our friendly team today?  Oportfolio Limited is an appointed representative of Primis Mortgage Network, a trading name of First Complete Limited which is authorised and regulated by the Financial Conduct Authority Your property may be repossessed if you do not keep up repayments on your mortgage. Oportfolio Ltd fees are payable on application. We charge a broker fee for property purchases of £495 and a remortgage/further advance fee of £395. Our product transfer fee is £295.

The coronavirus lockdown has been an absolute game changer for anyone who had spent the first quarter of 2020 planning a spring or summer move. It hasn’t just been down to the Government’s measures effectively shutting down the residential housing sector; other factors have also had a significant influence on how buyers and sellers will – or perhaps won’t – approach the business of moving now the restrictions on property transactions have been relaxed. In just seven short weeks the face of the day-to-day business of moving house has been radically altered in several different ways. Prices Opinion is a little divided on the long-term impact of lockdown on house prices. Depending on what you read, prices may flatline for a short period before recovering (Rightmove); they could tumble by 13%, shaving £30,000 off the value of the average UK property and pushing the average house price below £200,000 (Centre for Economics and Business Research); or we may see gentler fall of between 5% and 10% in prices but a steeper decline in transactions to 20-40% of the 5-year average (Savills) And, of course, there are all sorts of different forecasts and predictions from other sources that add to the noise and uncertainty over precisely how the market will react to nearly two months of stagnation. Additionally, the real picture will be different depending on where in the country you live. Areas that have traditionally been highly desirable may see little or no adverse impact, while others experience a more acute negative effect. The important thing to remember, though, is that wherever you are geographically, the local impact will be broadly the same for everyone. So, if you’re planning on moving within the same area and the pre-pandemic value of your property falls by, say, 5%, the value of the property you might buy will likely have seen a similar if not identical fall. In this case, and all other things being equal, the real-terms effect of falling prices on your planned transaction may well be negligible. The price factor is likely to be more significant, in terms of increasing the amount of borrowing you need, if you’re hoping to move to an identifiably more desirable area, where the value of your current home falls and that of your intended property remains static or grows. Interest rates The decision by the Bank of England to reduce the base rate to an historic low of 0.1% has means it’s now possible to borrow what you need with lower repayments than might have been the case pre-lockdown. And depending on your specific needs and circumstances, if you choose a rate that’s fixed for 2 to 5, or even 10 years (not all lenders offer a 10-year fixed rates, and it’s not always in your best interests to tie yourself into such a long-term deal), you’ll not only benefit from a cheaper loan, you’ll also have a degree of certainty over your repayments for the same period. That said, not all lenders will pass the benefit from the interest rate drop onto their customers, so it’s worth doing your homework here – and ideally you should work with a professional mortgage broker like Oportfolio who will have access to off-market products and deals that you won’t find on price comparison sites or  through dealing with lenders direct. Affordability Inevitably, mortgage lenders are going to be paying particular attention to the affordability criteria as they consider new applications from those planning to buy a new property, so the benefit of having your finances in good shape is as clear now as it was before the pandemic. However, for some people hoping to secure mortgage lending it’s going to be especially tricky given the impact the lockdown measures have had on the economy and employment. If you work in a field that’s been particularly affected by the country coming to a sudden standstill – e.g. the hospitality sector or non-essential, non-online retail – lenders may approach your application with a little more caution. Again, working with a professional mortgage adviser is a smart move because they will be able to identify the areas in your financial circumstances that may be a cause for concern and will be able to give you advice to put you in the best possible position to have your application accepted. Negative equity Negative equity is what happens when economic factors drive house prices down to a point where you owe more on the mortgage than the property is worth. One concern – particularly among those potential buyers who have only a small deposit to put down – may be the prospect of buying a property only for prices to crash if the economic effects of the pandemic suddenly come into play. This is where prudence is required. For most people, a property purchase is a moderately long-term investment. Historically, it’s been generally accepted that on average people move four times in their lifetime, bringing the average time in any given property to around 20 years. No one really knows how the market will perform in the future, but it’s probably fair to assume that any ‘losses’ we see as a direct result of this crisis will be offset by future growth – and of course the more time you expect to stay in the property you buy, the more time you’ll have to rebuild equity. But again, a professional mortgage adviser can advise you based on your specific circumstances and ambitions. The bottom line is that there are plenty of opportunities in the housing market right now – but getting professional mortgage advice can give you the peace of mind of knowing you’ve considered all eventualities before you set the wheels in motion on your purchase or sale. At Oportfolio we pride ourselves on offering highly professional and friendly advice backed by many years of experience and a thorough knowledge of the mortgage market   Please note: all information contained within this article was accurate at the time of publication.   Oportfolio Limited is an appointed representative of Primis Mortgage Network, a trading name of First Complete Limited which is authorised and regulated by the Financial Conduct Authority Your property may be repossessed if you do not keep up repayments on your mortgage. Oportfolio Ltd fees are payable on application. We charge a broker fee for property purchases of £495 and a remortgage/further advance fee of £395. Our product transfer fee is £295.  

As the UK takes its first tentative steps towards coming out of lockdown, the worries that enforced social isolation brought – concerns over job security, food shortages and the clear risk to health – are for many people being replaced by new anxieties relating to what our new world is going to look and feel like. For some people there will be an understandable sense of conflict as the government begins to carefully reopen Great Britain PLC. https://youtu.be/CMG5E5e6bPQ We want life to return to normal, but we know the pandemic isn’t entirely behind us; we’re looking forward to seeing friends, family and colleagues who we’ve perhaps only seen on a video link for the past two months, but we still fear the possibility of infection; and we want to return to work and regular (and secure) income, but we’re apprehensive about the long-term effect of this crisis on the economy. What that anxiety may well translate into is a reluctance to make decisions about the long-term future. But economic recovery – globally, domestically and personally – will only be realised when we have the confidence to act, spend and invest with confidence. And for that, you need the assurance and peace of mind of knowing you’re acting on the right information, advice that’s suited to your individual circumstances and guidance that insulates you as far as possible from financial risk. That’s where we come in. At Oportfolio we have years of experience and expertise in finding the mortgages and financial protection products that are best suited to our clients’ personal needs. Mortgages The housing market is now back in business, though for obvious reasons it’s going to be a slow process regrowth following two months of inactivity and sweeping changes in the financial circumstances of many people who might have been looking to move this summer. That said, if you need to move or your own financial situation has been less affected by lockdown than has others’, then there is still business to be done in the housing sector – and the slow market could well be an advantage for those in a strong position to buy. And with interest rates at an all-time low of 0.1%, there are also lots of good mortgage deals out there. So, if you’re still committed to moving in 2020, we’re ideally placed to help you find the best mortgage to set you on your way. Personal Protection The pandemic has taught us many things, but one of the key lessons has been that being financially prepared for the worst is essential. It’s an unfortunate fact that over the last eight or nine weeks a great many people have had to face what might, two months ago, have seemed like an entirely hypothetical question: what would you do if you suddenly found yourself without an income? But it’s a question that doesn’t just relate to the economics of employment. What if you suddenly suffered life-changing injuries in an accident, or received a diagnosis of a serious or terminal illness that left you physically or mentally unable to work? Would your family be able to cope financially if you died suddenly? Life insurance – whether in trust to avoid Inheritance Tax or not – to provide for those you leave behind, critical illness cover to give you a lump sum payment if you become seriously ill and income replacement insurance to give you a regular monthly payment should you be unable to earn for an extended period are all options that we can advise on to give you peace of mind. Wills According to consumer organisation Which?, more than half of all UK parents don’t have a Will – meaning the spouse/partner and children left behind risk receiving nothing. Making a Will is simple and straightforward, and something we can look after for you. So, if you’re ready to start making the decisions that will get your life back to some semblance of what might be normal, but you want a trusted professional adviser to guide you, we’re just the people to talk to. Why not get in touch with us for a friendly and informal chat – we’d love to hear from you. Please note: all information contained within this article was accurate at the time of publication.     Oportfolio Limited is an appointed representative of Primis Mortgage Network, a trading name of First Complete Limited which is authorised and regulated by the Financial Conduct Authority Your property may be repossessed if you do not keep up repayments on your mortgage. Oportfolio Ltd fees are payable on application. We charge a broker fee for property purchases of £495 and a remortgage/further advance fee of £395. Our product transfer fee is £295.  

Any veteran property owner who’s been through the process of applying for a mortgage in the last few years will tell you that there are a lot more hoops to jump through these days than there used to be before 2008. Although lenders have become more competitive in the recent past, the days of being almost guaranteed to have a mortgage application accepted are long over. Affordability is now paramount and more stringent lending criteria mean that although mortgage approvals are currently at their highest levels in four years, you won’t get the loan you want if you don’t meet the lender’s criteria. So, what do you need to do to give yourself the best chance of securing the finance you need to buy your dream home? Manage your money well In the end, mortgage lenders want to be confident you’re going to be able to pay for your loan, so being able to demonstrate you can manage your money well and budget properly should always be your aim. Some of the key questions you’ll need to answer will be about your income and expenditure. It’s wise to repay any existing debt if you can – especially ‘expensive’ debt like credit cards where the interest you’re paying may be greater than the actual capital loan element of your monthly repayment. Paying off bank loans, HP agreements and overdrafts is also a smart move if you’re in a position to do so – but if you’re not, then consider moving your outstanding liabilities to a cheaper loan facility. For example, a 0% interest balance transfer to a new credit card will reduce your monthly repayments. If you can show you have no outstanding liability and you’ve shown you have the responsibility to honour previous debt, a prospective lender is likely to have more confidence in you as a customer. Secondly, you should be aware that a lender will take a close look at your monthly outgoings and your typical expenses. You shouldn’t lie about these, but if you can cut a few costs – such as the bi-weekly takeaway or the massive slap-up payday meal – you’ll seem more responsible. Similarly, cut costs from your budget where you can. If you can live without the satellite TV subscription for a while and offload any other luxuries temporarily it will have an exponential benefit on your monthly outgoings. Be realistic about your financial ambitions In most cases, people are turned down for a mortgage because they can’t afford the loan they’re trying to take. You might want the five-bedroom house near the park, but the four-bed in a less popular part of town may be closer to your budget. A broad rule of thumb is to look at the repayments for the loan you want. If they’re going to make up more than 35% of your monthly income, then it may be you’re trying to stretch yourself too far. Our online mortgage calculator can help you to identify what might be affordable in your case. Check your credit score This is one of the many checks your lender will carry out, so it’s wise to make sure you know what they’re going to find. Your credit history will tell lenders what debt you currently have and how reliable you have been at meeting your repayments. Checking your credit score is free (though you may have to pay if you want a detailed report) and there are a number of companies that can provide you with yours. Experian is the major source of credit information in the UK. Show you’re a good bet for debt It may be counter intuitive, but if you’ve never had any credit or debt, lenders are likely to be more cautious about approving a mortgage. This isn’t a reflection of you as an individual, but is down to the simple fact that if you’ve never had any debt, you won’t be able to prove you are responsible about it. So while we certainly wouldn’t recommend you running up huge bills, if you’re new to credit then it might be worth considering taking opening a credit card account with a low credit limit and paying for the odd thing here and there – always remembering to pay off the balance each month. If you’re looking to move house this year and want advice on how you can put yourself in the best possible position to be accepted for a mortgage, come and speak to a member of our friendly team.   Oportfolio Limited is an appointed representative of Primis Mortgage Network, a trading name of First Complete Limited which is authorised and regulated by the Financial Conduct Authority Your property may be repossessed if you do not keep up repayments on your mortgage. Oportfolio Ltd fees are payable on application. We charge a broker fee for property purchases of £495 and a remortgage/further advance fee of £395. Our product transfer fee is £295.

The ongoing coronavirus crisis continues to put pressure on family income as the true impact of the Givernment's social distancing strategy is felt around the UK. There are a number of schemes that have been launched to help businesses, those in full-time employment and the self-employed financially. But the enforced isolation we're all experiencing has also been a time for many people to take stock of their personal finances. Despite the concerns that many people feel at this time, it's also an opportunity to think about the future and how we can safeguard ourselves in the future. Here’s our checklist for the things you can do now to give yourself complete peace of mind that you're protected in the future. Does your mortgage need updating? Many people are worried right now about how to pay their mortgage. If you share that concern, you're likely to qualify for the Government's mortgage relief scheme, which offers a 3-month 'holiday' from mortgage payments to ease the pressure on your finances. Even if you don't have any immediate concern about meeting your monthly payments, this is a good moment to review your existing deal. If you’re on a fixed rate or fixed term mortgage, do you know when your deal expires? Even though there’s a lot of publicity around reminding us all of the possible benefits that can be gained from switching your mortgage when you’re approaching the end of your existing agreement, it’s still surprising how many homeowners allow themselves to lapse to their lender’s standard variable rate (SVR). Paying your mortgage at the SVR is more expensive and although there are circumstances where it might not make sense to move to a different rate (for example, if you’re planning to move or remortgage and want the option to move to another lender without having to pay an exit fee on your current mortgage) it’s a good idea to look at your needs a few months before your existing deal runs out, as most lenders will allow you to start applying for a new rate between 3 and 6 months ahead. You should always talk to a professional mortgage broker as he or she will be able to give you the right advice about the action you need to take with your mortgage, whether that’s to stick with your current lender on a new deal or switch your mortgage elsewhere. Is your life cover fit for purpose? It’s easy to forget about things like life insurance when our circumstances change, but it’s important that you take a moment each year to review the provision. It may be that you took out your policy years ago, perhaps to cover the remaining term on your mortgage when you first took it out, but if you’ve had a change in your circumstances since then – maybe you’ve remortgaged and extended the term, for example – then it could be your current level of insurance won’t cover what it needs to cover should the worst happen. If you discover that your life insurance is no longer adequate, then speaking to a professional adviser like Oportfolio can help you to choose the right product. Is your income protected? Your life insurance will pay out when you die, ensuring the people you leave behind are looked after financially. But what happens if you can’t work – either permanently or for an extended but temporary period? These are situations that can be overlooked when planning for the future, but as we age our health inevitably becomes more vulnerable. There are two types of protection that can give you peace of mind when it comes to your income. One is critical illness cover, which will pay out a tax-free lump sum on diagnosis of a serious (often terminal) illness. This type of insurance, also known as cancer cover, since that is the condition most policies pay out against, ensures you have enough money to allow you and those close to you to live comfortably. The second type of financial protection you might consider is income protection. This is a useful policy replaces a significant proportion of your salary if you’re unable to work for a prolonged length of time, but will eventually be able to return to work in the future. Although the sum paid is usually around 75% of your gross salary, the fact it’s tax-free means it is likely to more or less equate to your take-home pay. At Oportfolio we have the experience and expertise to offer you professional advice about the suitability of these products for you. Property insurance These are the policies that are most likely to be on your radar because they renew each year and you’re reminded of that by the insurer. Again, it’s worth taking a moment to speak to an adviser to ensure you’re getting the right product and to explore the market to see what else might be available. At Oportfolio we use a trusted panel of mortgage and insurance providers in order to give you the best possible advice about securing your financial future. Why not get in touch and see how our friendly team of advisers can help you to have a successful 2020?     Oportfolio Limited is an appointed representative of Primis Mortgage Network, a trading name of First Complete Limited which is authorised and regulated by the Financial Conduct Authority Your property may be repossessed if you do not keep up repayments on your mortgage. Oportfolio Ltd fees are payable on application. We charge a broker fee for property purchases of £495 and a remortgage/further advance fee of £395. Our product transfer fee is £295.

Despite the uncertainty in the housing market, the prospect of buying a second property – or perhaps a third, fourth or fifth – to rent out is still attractive to a lot of people. Recent research comparing the England and London property rental sector with world economies places England above 159 nations – specifically, between Ethiopia and Sri Lanka. London alone, where the sector is worth £21 billion annually, would be placed above 124 countries, sitting above North Korea but behind Latvia. And with home ownership for first time buyers still a pinch-point for the market in spite of a number of High Street lenders recently announcing attractive mortgage products for first-time-buyers, the rental market is expected to continue to grow. There are, of course, considerations that any prospective landlord would need to consider carefully. As Money Week noted recently, changes to Stamp Duty, mortgage interest relief and lettings agency fees , have put challenges in the paths of amateur landlords who may otherwise have been attracted to ‘dabble’ in property as a source of income. That said, profitability is also partly down to that old estate agency maxim of location, location, location. If you own a rental property in a highly desirable area, particularly in London, it’s likely to be easier to let at a good rent. That doesn’t guarantee profit, of course, but a property in the right place is an obvious must if you’re to have any hope of making a decent yield on your investment. So, if you’re considering a buy-to-let investment and we assume you’ve got the basics right, what are the mistakes you need to avoid? Not minding your own business In the end, a rental property is a business. It may not be a business with massive turnover or huge margin, but at the most granular level, it needs to at least break even. That means being prudent over what you invest in it – both in terms of real costs and your own time and effort, both of which have a value. If decorating, building works or ground and garden maintenance is needed, that will eat into your margin, so be pragmatic about where and what you invest. If a cheaper own-brand paint will serve just as well as the high-end stuff, that’s what you should consider using. Similarly, if the time and effort you spend dealing with the management of the property is going materially reduce the amount you can earn from your day job, that needs to be factored in, too. There are a lot of landlords out there who failed as property entrepreneurs because they didn’t realise or remember their buy-to-let was a business – but if you keep the business side of your investment in mind, you’re less likely to become one of them. Failing to understand your responsibilities As a landlord, you’ll have a lot of statutory responsibilities and if you don’t understand what you have to do (and what you don’t have to do), life can get tricky. Your contract with your tenant and the rental agreement they have with you depends on both of you doing certain things. Among many other things, you’ll need to get certificates and undertake responsibilities for certain repairs – your tenants will be required to give you access on an agreed arrangement, pay the rent on time and keep the property in good order. If you – or they – fail to do what you’re required by legislation to do, someone could be in breach of contract. Failing to get the right cover This is a crucial thing to get right. The simple fact is that ordinary household insurance is highly unlikely to cover your property. Because your property is occupied by people who may not treat it with the same respect you would as the owner, and because there’s a chance it will be vacant at times (for example, between lets), insurers consider buy-to-let property to be a different type of risk to that of an owner-occupied home. You’ll need to get specialist landlord insurance to cover your building (and, if you’re letting a furnished property, its contents – if it’s unfurnished, the tenant will be responsible for insuring their own possessions). We can help you to find a suitable product that offers you the best cover for your needs. Call us on the number below to speak to a member of our friendly team and find out more. Not planning to plan Inevitably, a buy-to-let will generate expense. It’s likely you’ll have to do repairs to the property that you may choose not to do – or to delay – if it were your main residence. The boiler might need to be replaced. The property will almost certainly need redecorating from time to time – and probably more frequently than you would do if you were living in it. Most of the expenses you currently associate with your own home will crop up in some form at your buy-to-let, so it makes sense to ensure you’re budgeting for those over the long-term so you aren’t hit with any nasty surprises. Getting your buy-to-let investment right doesn’t need to be an arduous process – and it can save you money and time in the long run if you start as you mean to go on. If you’re considering buying an investment property and want to generate an income from it, come and talk to us about how our expert mortgage and insurance advice can give you the peace of mind of knowing you’re set up for the best chance of success. Want to know how other clients felt about working with Oportfolio? Watch Gus and Selena’s video story!       To find out more about our friendly and professional mortgage service, fees and what we can do to help make sure you’re not paying over the odds for your mortgage, why not visit www.oportfolio.co.uk or give us a call on 020 7371 5063.  Your property may be repossessed if you do not keep up repayments on your mortgage.  Oportfolio Ltd fees are payable on application. We charge a broker fee for property purchases of £495 and a remortgage/further advance fee of £395. Our product transfer fee is £295.

Every client we see among the many hundreds we deal with each year is unique. They all have different priorities, different circumstances, different needs, different things to consider and different ways of approaching the decisions they need to make. There is no one-size-fits-all solution to the important things in life. There never has been. At Oportfolio, we understand this. It’s a philosophy that has been the foundation of our success over our decade in business, because when you walk through our door or call us for the very first time, we treat you like we treated our very first client all those years ago. It’s how we’ve treated everyone who has come to us before you, and it’s how we’ll treat the next person to come to us after you. And the one after that. And the one after that. Whether it’s a mortgage, health and personal insurance or cover for their home or investment property, the only thing we’re really interested in is what matters to you right now. That doesn’t mean we can’t offer professional advice that will help you think about tomorrow – we can, and do; but first and foremost, we make it our priority to understand yours and then meet it if we can. You might be a first-time buyer looking for their first step on the property ladder, a seasoned mover aiming to make a move into your forever home, a homeowner looking for a better mortgage deal or an investor interested in expanding their buy-to-let portfolio. You may have a young family and are looking to safeguard their future by protecting your income or guarding against ill-health. Or you could be looking for tailored specialist insurance cover to help protect your home, contents or investment property. Today’s markets for all of these products and more besides is highly competitive, and the wealth of choice available can be overwhelming and confusing. Moreover, you won’t always be able to access the most suitable mortgage or insurance products online or in the High Street. At Oportfolio we’ve been established for a long time and we work with a carefully-selected panel of providers to ensure we can offer competitive products at prices tailored to your individual budget and what you can afford. In the end, how we can help you with any and all the products and services we offer ultimately comes down to the same thing: what matters to you? We’ll spend time working alongside you to understand that and to advise you on how best to fit the mortgage or insurance cover you need to your unique and individual circumstances. And then we’ll be with you every step of the way to help you achieve success. Because what matters to you is really the only thing that matters to us. To find out more about our friendly and professional mortgage service, fees and what we can do to help make sure you’re not paying over the odds for your mortgage, why not visit www.oportfolio.co.uk or give us a call on 020 7371 5063.   Your property may be repossessed if you do not keep up repayments on your mortgage. Oportfolio Ltd fees are payable on application. We charge a broker fee for property purchases of £495 and a remortgage/further advance fee of £395. Our product transfer fee is £295.