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Tailored Mortgages

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					            Tailored Mortgages




For when you need
     a more flexible approach
A mortgage that really fits




If you like a tailor-made approach to your mortgage – you will like Harpenden Building Society.
        Our mortgage experts offer you something that is rare in today’s mortgage market – a truly
personalised approach to your enquiry.
       You will notice that we take the time to understand your financial situation and the type of
property you are buying. You will also like the fact that often we can lend in complex financial
situations and for unusual properties or projects.
        You might also be reassured about our value for money, which has earned us What Mortgage
magazine awards for our standard variable rate mortgages.
        We lend throughout England & Wales and have properties in mortgage in Cornwall, The Lake
District, Northumbria and Kent to name just a few places.
        So, why not find out about our adaptable approach to mortgages by calling 01582 765411 or
emailing mortgages@harpendenbs.co.uk


Yours sincerely




Richard Mason
HEAD OF LENDING
Your Home                                                 Guarantors
Whether you are a first time buyer, or looking to         High house prices are making it difficult for some
move up the housing ladder, talk to us about our          people to buy the home they would like. However,
range of mortgages. We can often lend to people           one solution is to have a relative or friend to act as a
that other, less flexible lenders will not consider -     Guarantor.
even though they may be very good at managing                     Clearly this is a matter that requires very
       their finances and have carefully thought          careful thought by all concerned and independent
         through their proposition.                       legal advice should be taken. With this type of
                    Typically we can help the             mortgage the Guarantor will be responsible for the
              employed, self-employed or those with       mortgage if the borrower does not make the required
                         a range of income sources.       payments.


                                                          Lifetime
                                                          If you are aged 55 years or older, you may wish to
                                                          release equity in your home by means of a lifetime
                                      Complex             mortgage. We recommend that you seek
                                       Situations         independent financial and legal advice prior to
                                          You may have    applying for this mortgage.
                                           thought                It is possible to use the value of your home
                                          everything      to raise funds for a wide variety of purposes such as:
                                      through carefully
                           but need a lender who does     q Inheritance Tax Planning
                not have a ‘tick box’ approach. All we    q School Fees and university costs
     ask is that you tell us the full background and      q Assisting children and grandchildren to
how you see the future. We will listen and help you           purchase a property
in any way we can. Affordability is the key.              q Enjoy a better lifestyle
        For example, you may have various sources         q Enhance your income
of income, such as investment and rental income, as       q Provide a lump sum
well as your main income. Alternatively, the              q Repairs and improvements to your home
mortgage may just be a short term ‘timing’ situation
which can be repaid when it is right for you by           Lifetime mortgages can also be arranged if you are
selling a property or using savings or investments.       moving home, whether it is to somewhere larger
                                                          or smaller.
Helping Relatives
You may want to help your son or daughter get on to       Inheritance Tax Planning
the property ladder or enable your parents to raise       We can also help with your inheritance tax planning
some money on their existing home or move to              requirements once you have obtained independent
somewhere smaller. Whatever your requirements,            legal and financial advice. Our role is to arrange a
we’re happy to listen.                                    lifetime mortgage for you.
Additional Borrowing and                                  Alternatively, you might have two properties to sell
Remortgages                                               and know that they cannot both be sold on the same
Additional borrowing can be arranged for borrowers        day as your purchase. Bridging loans are a high risk
who have an existing mortgage with the Society and        financial transaction and you should take
for those who wish to re-mortgage or do not have a        independent financial and legal advice.
mortgage at the moment.
Funds are available for a wide range of purposes,         Unique Homes
including:                                                If you are buying, or already own, an unusual
                                                          property, we will be pleased to talk to you about a
q Home improvements                                       mortgage. We may be able to lend up to 75% of the
q Expanding a business                                    value of the property.
q University fees                                                 In the past we have lent on medieval houses,
q Purchase of an additional property                      barns, timber properties, converted mills and
                                                          lighthouses, cottages in need of refurbishment and
The money can be borrowed over the same term of           properties that combine both a residential and
years as your existing mortgage or over a different       retail/commercial use.
term, if preferred.
                                                          Second or holiday homes
Bridging Loans                                            This mortgage is for the purchase of an additional
A bridging loan usually involves holding mortgages        property that will either be occupied by a member
on two or more properties at the same time, for           of the family, used as a holiday retreat or as a
example, where the sale of an existing property will      pied-a-terre.
not happen until after a purchase has taken place.                Mortgages can be arranged on either a short or
Occasionally we may only need to lend on one              long-term basis depending on individual requirements.
property if you have significant savings to put                   We can also take into account various sources
towards the purchase.                                     of income, such as investment and rental income, as
        Some purchasers only expect to have the           well as the borrower’s main income.
bridging facility for a couple of weeks simply to avoid
the inconvenience of moving out of one property on        Buy-to-Let
the same day that they move into another.                 This mortgage has been specifically designed to
                                                          finance the purchase of a residential property.
                                                                  Our flexibility allows us to lend on most
                                                          residential properties, for example, houses, bungalows,
                                                          (both purpose built or converted) and leasehold flats
                                                          and maisonettes (up to the fourth floor).
                                                                  As well as the usual Assured Shorthold
                                                          Tenancy Agreements, we will also consider lending
                                                          on properties where:
q There is a regulated/sitting tenant or                       including new houses, flats or barn conversions. In
q You intend to use the property as a holiday let              some cases this will include the demolition of an
q You intend to live in part of the property and               existing house to build a new property or refurbishing
    let the remaining part                                     and upgrading the current property.
q The rent is less than the mortgage repayment
    but you are in a strong financial position                 Commercial/Semi - Commercial
                                                               We will lend on a wide variety of commercial and
Let–to-Buy                                                     semi-commercial properties including:
There may be a variety of reasons for keeping your             q Shops - both with and without living
existing property and letting it out rather than selling it.       accommodation and also where all (or part)
        You may regard it as a long-term investment                will be let
or as a relatively short-term arrangement whilst you           q Surgeries for doctors, dentists and veterinary
are working elsewhere. Whatever your plan, we can                  surgeons
provide a mortgage that is right for you.                      q Offices
                                                               q Industrial units
                                                               q Land, smallholdings, nurseries or farms
                                                               Each enquiry is assessed individually as we
                                                               appreciate that everyone has different requirements.


                                                               Right to Buy
                                                               If you are buying your home from a Local Authority,
                                                               we can consider a mortgage for up to the discounted
                                                               purchase price providing that we are not lending
                                                               more than 75% of the current market valuation.
                                                                       We can lend for houses that are built of a
                                                               traditional construction as well as flats and maisonettes
                                                               providing that there are not more than four floors.
                                                                       We will be pleased to listen to your plans
Property Development and                                       even if they are not straightforward, for example, a
Refurbishment                                                  relative may be willing to act as a Guarantor.
Whether you are a property developer, wish to
demolish and rebuild or simply build on part of your           Agricultural or Equestrian
garden, we can provide a mortgage that is right for you.               If there is an agricultural restriction on a
        If it is a brand new development, a mortgage           property, then occupancy will be restricted to people
of up to 50% of the value of the land can be                   whose main occupation is in some form of
considered at the outset.                                      agriculture, such as farming or forestry.
        Our aim is to meet your needs for the                          We can help on either an employed or self-
number/timing of the stage releases and we can                 employed basis. This can also include those
lend up to 75% of the value of the property.                   individuals who were previously employed in this
        We will lend on a wide variety of properties           type of occupation.
                                                         Printed on recycled stock manufactured within
                                                         a mill which complies with the international
                                                         environmental ISO 14001 standard using pulp
                                                         from sustainable forests.




 Customer service                                        effectively, consistently and promptly are available on
 The Society aims to offer a first-class customer        request.
 service. We will treat you as an individual … there             If it does not prove possible to resolve your
 are no call centres or credit scoring. Simply tell us   complaint, you then have the opportunity to refer it
 what you requirements are!                              to the Financial Ombudsman Service for review.
         If you require any information about your
 mortgage, both before and after completion, please      The Financial Services Authority (FSA) publishes
 do not hesitate to ask. We also welcome suggestions     useful guides on mortgages. You can get free copies
 to enable us to give an even better service to our      from: www.fsa.gov.uk/consumer, or by calling
 customers.                                              0845 606 1234.
         If at any time you do have reason to
 complain, we obviously want to hear about it.           All mortgage related enquiries should be directed to
 Our procedures for handling any complaint fairly,       our Harpenden Head Office.




                                                         Harpenden Head Office
                                                         14-16 Station Road, Harpenden, Herts AL5 4SE
                                                         Tel: 01582 765411 Fax: 01582 712061
                                                         Email: mortgages@harpendenbs.co.uk

                                                         Radlett
                                                         341 Watling Street, Radlett, Herts WD7 7LB
                                                         Tel: 01923 854457 Fax: 01923 855145

                                                         Leighton Buzzard
                                                         22 Market Square, Leighton Buzzard, Beds LU7 1HE
                                                         Tel: 01525 852525 Fax: 01525 379389




                                                         www.harpendenbs.co.uk


YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

				
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