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Mortgage Advice needed
henrik1971
Posts: 202 Forumite
Hi there.
I am a trustee for a small charity that owns a community building which we purchased on a 30-year mortgage about five years ago.
Our current interest rate is fairly high - 6.25% and I am hoping a better rate might be available elsewhere, but could do with some pointers as to where I should be looking or can anyone signpost me to a decent impartial broker who will either give free advice, or at the very least 'modestly priced' advice. Perhaps someone who has particular experience of sourcing mortgages for charities? Its hard to say exactly what our LTV is, as the building is not straightforward to value, but taking into consideration our original deposit, the capital we've paid over the past five years and allowing for a few percent growth over the same period, I would guess we are around 70% LTV.
Ideally I'm looking to switch to a lender who is willing to lend without the need for personal guarantees from the trustees - as is the case with out current provider.
Thanks in advance for any help.
I am a trustee for a small charity that owns a community building which we purchased on a 30-year mortgage about five years ago.
Our current interest rate is fairly high - 6.25% and I am hoping a better rate might be available elsewhere, but could do with some pointers as to where I should be looking or can anyone signpost me to a decent impartial broker who will either give free advice, or at the very least 'modestly priced' advice. Perhaps someone who has particular experience of sourcing mortgages for charities? Its hard to say exactly what our LTV is, as the building is not straightforward to value, but taking into consideration our original deposit, the capital we've paid over the past five years and allowing for a few percent growth over the same period, I would guess we are around 70% LTV.
Ideally I'm looking to switch to a lender who is willing to lend without the need for personal guarantees from the trustees - as is the case with out current provider.
Thanks in advance for any help.
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