Mon - Fri 09:00 - 17:00
Sunday & Sunday Closed
(0203) 286-6952
info@ihomefinance.co.uk
Beachside Business Centre
Rue du Hocq, Jersey JE2 6LF
Welcome to fair and smart mortgage loans, we're here to help you
Mortgage Explained
Required Documents
FAQs
Refurbish and increase the value of your property
Professional Advice
Getting the information you need can save you thousands of pounds on your mortgage. We will also work closely with all the relevant professionals to ensure your mortgage moves forward at the correct pace.
Great Support
Our goal is to help clients complete their mortgage transaction in the shortest possible time. To this end, our first-class support team will help you with all relevant paperwork, instruct surveys and liaise with solicitors.
Best Mortgage Deals
We help you compare different mortgages on the market, as well as mortgages which are not offered directly to customers. Together we will work out which plan will suit you best!
Upgrading and refurbishing your property can be beneficial in many way. For one thing, it can help save energy costs, especially if are thinking about a low or no energy housing upgrade. But renovating your property can also increase the resale value of your property.
If you already own the property you plan to renovate or extend, either increase your mortgage to release funds, or take out a home improvement loan. Mortgage funding will usually be the cheapest option, but shop around for the best deal — switching mortgages can save money.
A home improvement loan secured against your home is the next cheapest option and may be easier to secure than a larger mortgage. The final option is a straightforward personal loan.
The amount you can borrow is usually calculated by using a multiple of your income, or joint incomes. Many lenders will also assess your available disposable income after existing commitments and adjust the amount you can borrow accordingly.
We can help you find special lenders that offer mortgages designed specifically for people who are renovating. These renovation mortgages are similar to self-build mortgages and work by releasing your mortgage funds in stages. When each stage is complete, your property will be inspected by your mortgage lender’s valuer, who will approve the payment for that stage. Stage payments are normally made in arrears – although there are a few lenders who will pay them up front.
Renovation mortgages normally require a deposit, although this can be as small as 5% – 10% of the initial purchase price.
Typical payment stages are:
1. Initial purchase (just enough to allow you to buy the property)
Work out what you can afford
Don’t overstretch your mortgage if you think you’ll struggle to keep up repayments. Also, consider that old buildings have surprises in store. Costs can quickly run out of hand. It is therefore very important to get the help of specialists to assess the renovation process.
Choose a mortgage plan
We will help you compare different mortgages on the market, as well as mortgages which are not offered directly to customers. Together we will work out which plan will suit you best!
Apply for a mortgage
We will ask you questions to work out a detailed affordability assessment. This could involve some detailed questioning of your finances and plans that could impact your future income. If your application is accepted, the lender will provide you with a binding offer.
2. Property structurally sound and watertight
3. All services and amenities in place – e.g. plumbing, wiring, heating, bathrooms
4. Property decorated and finished
Contact us now!
To ensure things move as smoothly and timely as possible, please make sure you have the required documents at hand. To find out which documents are required, please turn to our "Required Document" section here! You are always welcome to contact us if you have any questions.
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Whatever your funding needs let our expert, award-winning brokers find the right property finance for you. We are here to help!
iHome holding Ltd.
Beachside Business Centre
Rue du Hocq
St. Clement, Jersey JE2 6LF
Channel Islands
+44 2032 8669 52
Mon - Sat 09:00 - 17:00
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