So many people are being diagnosed with a life-changing illness such as cancer, heart attack, stroke or you may have an accident where you may not be able to go back to the job you are doing. Would you lose your home as a result? Do you have anyone you could turn to financially? The most common types of insurances we may take out in our lifetime:Car insurance Home insurance Contents insurance Mobile phone insurance Travel Insurance
What about insuring you, your ability and capacity and earn, wha...
Have you thought about Income Protection?
We are surrounded by stories of people having cancer, heart attacks, strokes, car accidents, mental health breakdowns, to name a few major health situations which could happen to any of us at any time.
If you are working, what would happen to your monthly income if you suddenly lost your ability to work?
Would you be able to manage without your monthly income?
If you could not pay your mortgage, how long before you lose your home? How would you pay the food bills and which of your home comforts would you lose first? Can you and your family cope with this financial loss?
Income Protection will pay you a monthly,...
Refinance of a Bridging loan on a Buy to Let property which was purchased in a Ltd Company via auction. Clients bridging rate was 8.4% per annum and they wanted to exit the bridge on to a Term Loan.
Original purchase price was £480,000 and after works it was valued at £750,000.Problems
One of the two Directors has a CCJ. The clients were Non Owner Occupiers and have no other Buy to Let properties.
Property had not yet been rented as it had undergone extensive refurbishment work to add floor size and full modernisation.
The clients previous broker had made numerous mortgage exit applications on their behalf all of which were declined.Solution
We used a lender (which had previously decline...
Sairah is a qualified dispensing pharmacist with over ten years' experience. Her employer decided to retire due to ill health and offered her the option of buying their Pharmacy.
The pharmacy had a premium value of the £485,000 with a lease of 14 years.
Naturally, Sairah approached her bank to see if they could help with the purchase. However, they were unable to help due to Sairah not having a deposit of 25% to put towards the purchase.
Sairah was referred to Key Life Financial Services by another Pharmacist. During our first meeting, we completed a full review of her personal and financial standing. Sairah was concerned that not having a deposit would mean she would not get the loan.
We approached a High Street lender...