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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 organisedPack 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 into 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 AuthorityYour 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 the 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 AuthorityYour 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 machineWe 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 rateWe’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 a 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 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 the 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 play 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 won't 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 curveball 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 sameHowever, 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 claimsSo, 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 5063Please 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 planYour 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 familyThe 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.

Almost exactly one year ago, I wrote an article which started with a question:How would you and your family cope if you suddenly found you were unable to work and earn a living?Looking back, it seems almost prescient, but like everyone else I had no idea when I wrote it that it would be a scenario that would, all too quickly, become a dreadful reality for a great many people.Most will have read that piece, published on November 21st 2019, thinking either that ‘it will never happen to me’ or putting it at the bottom of quite a long to-do list which got longer and longer as Christmas came and went.And by the end of March this year, of course, it was all too late.The reality is that a global crisis of the type we’ve lived through this year is extraordinarily uncommon. The last time the world experienced anything remotely like it was the Spanish Flu outbreak in the early part of the last century.I hope, as I’m sure you do, that we will never experience anything like it again.But if nothing else, this year has proved that it’s foolish to take anything for granted, and while it’s highly unlikely that it will be a global pandemic like Covid-19 that will stop you from earning an income in the future, there are other, more common but no less worrying things that might.All other things being normal and aside from recession, critical illness is one of the biggest factors that contributes to loss of income within the workforce.There are a number of specialist insurance policies that can help to support you and your family if you were to be diagnosed with a serious or terminal illness and find you’re unable to continue earning.Statistics from insurer to insurer vary, but these figures from Legal & General give a sense of the range of common ‘claimable’ conditions and the policies that exist to protect against loss of income.Across a range of policies that include life insurance, critical illness cover (also known as cancer cover), terminal illness cover and income protection plans, the most common conditions that can lead to a successful claim are:Cancer (all types) Heart disease Chronic lung disease Bronchopneumonia and pneumonia) Motor Neurone Disease and other ‘wasting’ conditions Musculoskeletal disorders Strokes Clinical mental health illnessThere are differences in each type of policy, but broadly speaking most will pay out on diagnosis and the money you receive can be used for any purpose – whether that’s paying down debt to reduce your liabilities, meeting ongoing living expenses or paying for specialist private treatment.Some policies also give you the opportunity to scale payments. These include increasing or decreasing term cover where your pay-out and premiums either start low and go up to reflect advancing age and increased health risk, or start high and reduce over time to reflect reducing financial liabilities.In fact, the choices available in terms of the type of policies that are available are wide and varied and we would always recommend people seek advice from a professional adviser before making any financial commitment of this kind.A reputable adviser will be able to assess your needs not just in the short term but also over the longer term, factoring in growing or shrinking families, changing life-stage liabilities and priorities like mortgages and education costs and potential health issues.Regardless of the type and level of cover you might need, the one thing that is certainly clear from 2020 is that securing your financial future is not something that any of us can afford to put off until tomorrow – because as Covid-19 has proved, none of us know what tomorrow might bring.So if you’d like to explore how you can make sure you and your family are financially secure in troubled times, why not get in touch for an informal chat and see how Oportfolio can help you to make the right choices for your own future. 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 AuthorityYour 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/CMG5E5e6bPQWe 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. Expert Help and Advice on 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. Expert Help and Advice on 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.WillsAccording 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 AuthorityYour 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, then 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 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=kRZl7jP6rHMBut 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 payout 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 ensures 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. 

With the UK now formally in recession for the first time in 11 years, mortgage providers are inevitably becoming more circumspect in how they lend money for house purchases. And that means it’s becoming harder to secure the larger sums needed to move.As the Financial Times reported in June, most lenders are now capping their lending to a maximum of between 85% and 95% of the property value, meaning that in some cases buyers are having to stump up three times the deposit that might have been needed before the coronavirus pandemic.Whilst that impacts on everyone, the most significant effect of lenders tightening the purse strings will be felt among those who are either buying a property for the first time or who might be looking to upsize without much equity in their existing home.Although that will be frustrating if you had your heart set on climbing the property ladder but have found yourself unable to raise the money needed to do it, it doesn’t mean you’re completely out of options.In the absence of being able to move, many people are now looking at extending their current home to gain some of the space a move might have provided.Re-mortgaging to be able to create more space could be a smart move if the sums are too tight to secure the lending required to buy something new.At the end of the day, your chosen lender is concerned with only one thing, and that’s the financial risk associated with lending you money. Capping mortgages means you shoulder a greater proportion of that risk and reduces their own exposure.Similarly, because the cost of building work to extend your property will usually be very much lower than the cost of moving, the loan required to carry out that work will be significantly lower too.So, how does remortgaging for an extension work?To begin with, you need to understand that a remortgage for any purpose, whether it’s for home improvements or to get a better deal with another lender, is still a mortgage and the lender will want to ensure you can afford the repayments associated with it.So when it comes to applying for extra cash to carry out building or improvement works, the value of your property, the outstanding balance of your mortgage loan and your current financial circumstances are all factors that your prospective lender will want to check carefully.Assuming you have plenty of equity in your home to give you a good loan to value (LTV) rate and the amount you want to add to your existing mortgage doesn’t take you too close to your affordability ceiling, you should have a good chance of your application being successful.As with all big financial decisions, I’d always recommend using a professional adviser when assessing your borrowing options.There are a number of good reasons to work with a professional mortgage broker or adviser, not least the expert knowledge they have of the market and the available products, which may well give you more suitable options for your circumstances.An experienced adviser will also help you to consider things that may not occur to you – how additional borrowing might impact on your future spending plans, a growing family or your ambitions to retire, for example.There is also the advantage of having someone with expertise in the mortgage market looking after your application from start to finish. They will be able to ensure all the information you need for the mortgage is included and will present it in the best possible way to give your application every chance of being approved.After that, it’s just a case of planning how you’re going to make the most of the all the additional space you’re going to have as a result.So, if you’re rethinking your plans to move and believe you may be better off remortgaging either to save yourself money through a better deal with another lender or to increase the space within your existing home, why not come and talk to us and see how we can help to make that dream a reality. 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 AuthorityYour 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. 

According to some reports this week, the first signs that the post-lockdown housing boom that began when the government opened up the housing market at the beginning of June 2020 has begun to give way to greater caution.According to the online housing news portal Housing Today, this is due in large part to a drop-off in demand from first-time buyers who have begun to find it harder to secure lending in an increasingly uncertain economy.The website goes on to say that the activity in the market is driven by existing homeowners who may be better placed in terms of job security to satisfy nervous lenders and who have more existing equity to put down to further mitigate lending risk.Whilst that may be bad news for some of those who are trying to get onto the first rung of the housing ladder, it does also open up some opportunities to thrive in a market where there is perhaps less buyer competition.Just because there is more scrutiny among lenders doesn’t mean the building societies and banks aren’t still lending to first-time buyers … it just means they want greater certainty about the risk.That’s where working with an experienced professional mortgage adviser can help you.Typically, buyers – whether first time or otherwise – can use two approaches to secure borrowing for the property they want to buy.The first is to source the mortgage product themselves and then go through the application process directly with the lender.There’s nothing inherently wrong in this strategy – as long as you know what you’re doing and you understand what the lender’s priorities are in terms of how they assess and then make decisions about the application in front of them.The loan-to-value will be a key factor. This is the percentage of the house value they’re being asked to lend against. The lower that figure, the less risk involved and the more confident they will be about lending.Long-term ability to meet the repayment commitment is another key consideration, and employment and salary history are key here. Similarly, financial history and ongoing financial commitments are a big part of any application assessment.Understanding why the lender wants the information it has requested can be a real advantage in deciding how the information is presented.And for those who are selling an existing property to move, it’s worth bearing in mind that there’s no great advantage in staying with your existing lender.I still meet clients who seem genuinely surprised that their historic relationship with their lender isn’t taken into consideration (at least on the surface of things) when they apply for a new mortgage with them.What they forget is that a new mortgage is a new risk for the lender – especially in the less than predictable times in which we currently live.The second approach is to use a professional mortgage adviser to handle your mortgage application for you.That does cost a bit of money – our fees for arranging a mortgage are at the bottom of this article – but what you get for that outlay is the reassurance of knowing your application has been assembled in such a way as to give you the best possible chance of it being accepted.In fact, an experienced broker or adviser will be able to see the potential pitfalls in your application long before it is submitted – giving you and them the chance to try to remove stumbling blocks before they even become stumbling blocks.Your mortgage adviser can also give estate agencies the confidence they need to be able to recommend you as a buyer to their client.If you’re in a shoot-out with another potential buyer and a reputable, regulated and professional mortgage broker is able to tell the agent that they’re confident you are a proceedable buyer, that gives you a real advantage over someone who may only have a mortgage agreement in principle.(A mortgage agreement in principle is good, but at its most basic level, it’s simply the mortgage company confirming that based on the unverified information you’ve supplied, they would be prepared to lend you a certain amount of money. Things can change rapidly once a lender starts an in-depth review and credit check.)An agent will know that the mortgage adviser has already pre-checked much of what the lender will review (usually with the exception of a full credit check), and so will find you a more attractive option as a buyer than someone who isn’t able to provide the same confidence.With many first-time buyers shying away from purchases in a shrinking economy – partly, perhaps, because the lenders have narrowed the range of available products and reconfigured their minimum deposit thresholds – those who are still in the market to buy will find themselves with a lot more choice.So before you decide to shelve your plans to buy a new home, why not give us a call and see if we can help you to make your dream house a reality?  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 AuthorityYour 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.

One of the more alarming statistics I’ve read recently suggests that more than a million homeowners – 1.3m, to be more precise – have allowed their mortgage to lapse to their lender’s standard variable rate (SVR).According to the price comparison website Money Supermarket, who commissioned the research, this means that collectively UK homeowners are paying around £175m a month more than they could be if they were on a fixed or preferential rate.Lapsing onto a lender’s SVR is a common pitfall and one that many new clients who come to Oportfolio for help and advice have fallen into, and it’s very common for people to wait until their fixed deal has ended before they act – even though it makes better sense to arrange a new deal a few months before the current one expires.There are a number of reasons why this tends to happen and it’s often a combination of factors that leave people shelling out way more than they could and should be paying in mortgage repayments: It’s too much hassle to swap We hear this a lot, but if all you want to do is swap to a better rate with the same lender then many mortgage providers offer existing borrowers the opportunity to switch without having to provide any paperwork.Often, all it takes is a simple phone call to the lender to transfer to a more preferential rate. In most cases, the lenders who offer this facility will not treat the transfer as a new mortgage and so no exit penalty is applied.Even if there is a fee to pay, it may still end up being cheaper in the long run to switch. I’m worried I might not meet new lending criteria See above. Your lender may well offer a no-application product transfer to a better rate – in fact, because the cost of attracting new borrowers is relatively high, it’s usually in their interests to make sure existing borrowers have options – which gives you some room for manoeuvre.If your lender offers the option to transfer your product and you’re sure you would struggle to remortgage with another lender, then this may be the right option for you.But a word of caution: I’ve met many people who have come to me absolutely convinced beyond any shadow of doubt that they can’t move or remortgage because they won’t meet the lending criteria, only to find that they have actually have options.So my advice is always to talk to a professional adviser before you commit to a further product with your existing lender. But more on that shortly. We’re only talking a percentage or two – it’s not that expensive to be on an SVR Think again. Based on current average figures from Which? (September 2020) the average fixed-rate mortgage is 2.09% and the average SVR mortgage is 3.99%.Let’s assume you have a £300,000 mortgage with 20 years remaining.On a fixed rate of 2.09% you’ll be paying £1,530pcm. On the SVR that monthly repayment rises to £1816 – a difference of £286.If nothing changed over the remaining 20 years of your mortgage term, you’d end up spending £68,640 more on an SVR than you would on a fixed rate.Unless you have a concrete plan to pay off your mortgage within a relatively short period of time – perhaps through an inheritance – it rarely makes sense to stay on a standard variable rate mortgage. So, should you just switch to a new product with your existing lender? The answer to that is maybe, and maybe not.The fact is that unless you shop around you’ll never know whether the preferential rates you can access with your existing lender through a product transfer represent the best value – and the chances are you won’t always be able to find the best rates anyway.That’s why I’d always urge people to speak to a professional mortgage adviser. At Oportfolio, for example, we can often find products you won’t find online or on the high street yourself, and our market knowledge means we can match your long- and short-term needs to the most suitable product.Lenders like new borrowers and, just as businesses like Sky and leading phone companies will have attractive deals to entice new business through the door, so the new customer products offered by mortgage companies are often incentivised accordingly.In the end, a professional adviser will usually be best placed to determine what your options are and then find the most suitable product to meet your needs now and in the future. If the right deal is to stick with your current lender, then a reputable broker will advise you to do that rather than move.If you’re coming to the end of your fixed deal or you’ve lapsed onto an SVR, maybe now is the time to get in touch and see what we can do to save you money on your monthly repayments. 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 AuthorityYour 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 Government'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 payout 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 payout 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 its tax-free means it is likely to more or less equal 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 AuthorityYour 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. 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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 homeownership 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 a 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, 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 are 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 to 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 the 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 planInevitably, 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.