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We offer a full range of services to ensure you have a highly experienced team around you through your journey with us.
We specialise in gathering you the best pension deals and keeping your costs low, returns high.
We have vast experience in creating and managing wealth for a range of portfolios and needs
We have vast experience in creating wills and ensuring your estate goes to those you love.
Call us to start saving today
0161 478 3210
We offer a full range of services to ensure you have a highly experienced team around you through your journey with us.
We specialise in gathering you the best pension deals and keeping your costs low, returns high.
We have vast experience in creating and managing wealth for a range of portfolios and needs
We have vast experience in creating wills and ensuring your estate goes to those you love.
At HWM a skilled and knowledgeable pension advisor functions as a guiding light, aiding clients in navigating the complex realm of retirement planning with expertise tailored to their individual circumstances. The ideal advisor not only possesses an in-depth grasp of diverse pension choices, investment approaches, and regulatory intricacies, but also dedicates time to genuinely understand the client’s objectives, risk tolerance, and lifestyle aspirations. Through meticulous scrutiny and personalized direction, they develop a retirement route that harmonizes with the client’s vision, guaranteeing a secure and content post-employment life. Furthermore, a trusted pension advisor consistently monitors and fine-tunes the strategy in response to shifting market dynamics and personal scenarios, offering invaluable assurance and adapting tactics to ensure the client stays on course toward a prosperous retirement voyage.
We work with you to develop your financial literacy to the highest level so you know your options and can make the best decisions for your personal circumstances. Using our expertise we examine your objectives, find great solutions and help you put the best financial strategy in place. We’re professional, personal and prolific in our network partnerships with the institutions and knowledge you rightly expect and demand plus we have many more assets and expertise for this world than you even knew existed. Talk to us for mortgage, wills and estate planning today!
Navigating the world of investments can be overwhelming due to the abundance of jargon and numerous investment options available. It can be challenging to determine the most suitable choice based on your specific needs and requirements. Fortunately, at HWM, a knowledgeable wealth manager can provide expert investment advice, guiding you towards building a profitable portfolio capable of withstanding any market conditions. For over two decades, HWM has been entrusted by clients worldwide to manage their investments. We offer personalized financial advice and ongoing support, equipping you with the necessary tools to develop a resilient investment portfolio.
We’ll compare the best mortgages with yourself over the phone or online if you prefer.
Answer a few quick questions over the phone or online without a credit check to see if you qualify.
Apply online, you won’t have to repeat any information because we’ll add it to the application for you.
Check the progress of your application online, we’ll appoint a dedicated expert to do the leg work and keep you up-to-date.
It’s a good question, because your mortgage is probably going to be your biggest outgoing each month. So it’s important to know that what you want to do is affordable both now and in the future. Our mortgage cost calculator is quick and easy to use so you can find out the likely cost of your mortgage in seconds. Simply adjust the following to calculate your mortgage costs: The amount you want to borrow The interest rate The number of years you wish to borrow the money over The calculator will display your monthly mortgage cost based on the figures you provide, and help you plan your monthly budget.”
This question holds significance because your mortgage payment is likely to be your largest monthly expenditure. Hence, it’s crucial to ensure that your desired mortgage is affordable both now and in the future.
Our mortgage cost calculator offers a user-friendly and swift solution to determine the estimated cost of your mortgage within seconds.
By simply adjusting the following parameters, you can calculate your mortgage expenses:
Upon entering these figures, the calculator will promptly generate your monthly mortgage cost, assisting you in planning your monthly budget effectively.
When it comes to making a property purchase, it is advantageous to save up as much as possible for your deposit.
Typically, your mortgage deposit should be a minimum of 5% of the property’s value. For instance, if you plan to buy a home valued at £250,000, you would need to accumulate a minimum deposit of £12,500.
However, the larger your deposit, the broader your range of mortgage options becomes. Additionally, you can enjoy lower interest rates, often resulting in more favorable mortgage terms.
This is because lenders perceive homebuyers with substantial deposits as lower risk compared to those with minimal savings. By aiming to save 10%, 15%, or 20% of the property’s value, you will discover a wider selection of mortgages available at improved rates.
Lenders typically reserve their most advantageous deals for individuals who can provide a deposit of 35% or 40%, or an equivalent amount of equity for existing homeowners seeking to remortgage when their property’s value has appreciated.
When purchasing a property above a certain value, it’s important to consider the tax that needs to be paid. These tax amounts can be significant and should be taken into account when determining the required deposit for buying a house.
The specific name of the tax and the applicable rates depend on the location of the property within the UK, whether you are a first-time buyer, and the number of properties you currently own.
In England and Northern Ireland, the tax is known as Stamp Duty Land Tax. Wales has its equivalent called the Land Transaction Tax. Scotland applies the Land & Buildings Transaction Tax.
For individuals purchasing additional properties such as second homes or properties for Buy to Let purposes, all regions (England, Northern Ireland, Scotland, and Wales) impose a surcharge. The surcharge amounts vary depending on the jurisdiction.
If you are currently residing overseas, an additional Stamp Duty Land Tax charge may apply to purchases in England and Northern Ireland. For detailed information, we recommend consulting a solicitor.
The calculator and information provided below pertain to the applicable Land Tax rates for purchases completed after 23rd September 2022. Please note that HWM cannot offer advice on tax matters, and it is advisable to seek specialist guidance regarding the specific Land Tax level applicable to your circumstances.
Understanding Life Cover
Life Cover, also known as Life Insurance, Life Protection, or Term Assurance, is a financial product that provides a lump sum payment in the event of your death during the policy term. Its purpose is to offer financial support to your loved ones when you are no longer able to provide for them.
How Life Cover Works
Typically, life cover pays out a lump sum that can be utilized to maintain the standard of living for your dependents or to repay debts such as a mortgage. You determine the amount of cover you want (referred to as the sum assured) and the duration of the policy (the term). If you pass away within the specified time frame, the benefit is paid out.
There are generally three main types of life cover:
Cost of Life Cover
The monthly premium for life cover can be quite affordable. However, several factors influence the cost, including:
Generally, the younger and healthier you are, the lower the cost of life cover.
Importance of Life Cover
Although life cover is not mandatory, it is advisable to consider taking out a policy if you have dependents who rely on you financially. Life cover can be crucial for many individuals, particularly when there are significant life milestones such as purchasing a property, getting married, or having children. Assess whether your loved ones would be financially secure or comfortable if you were to pass away. If the answer is no, it is recommended to review your life cover needs. Our life cover calculator can assist you in determining the appropriate coverage amount.
FAQ
When should I start my life cover if I’m buying a home? We suggest starting your life cover when you formally exchange contracts, as this is when you assume responsibility for the property.
Can I rely on death in service benefits from my employer? Work benefits usually aim to replace your income for a specific period to help your family adjust. If you plan to use these benefits to repay a mortgage, it may be necessary to seek additional coverage to address other living expenses and costs. It’s important to remember that work benefits are tied to your employment, so having separate cover is advisable to ensure ongoing support for your family, regardless of your job situation.
Is my life cover policy guaranteed to pay out if I die? If you pass away within the policy term, the policy will pay out. However, there are circumstances where a claim may not be accepted, such as non-disclosure of a condition or information that could impact the provider’s decision to accept the application. Answering all application questions fully and accurately is vital to minimize the risk of non-disclosure. Some policies may also have exclusions for death caused by drugs or alcohol, dangerous activities, or suicide within the first 12 months of the policy.
Can I obtain life insurance with a pre-existing condition? The availability of life insurance depends on the severity of your condition. Some providers may decline your application, while others might offer coverage with an exclusion for your specific condition. Different providers have varying underwriting policies for pre-existing conditions, so consulting an adviser can help you secure the best terms and coverage.
Can I cancel my life cover policy? You have the option to cancel your policy within the first 30 days
Understanding Mortgage Types All mortgages operate on a basic principle: you borrow money to purchase a property over a specific period and pay interest on the amount owed. The amount you repay each month is influenced by the borrowed sum, interest rate, mortgage term, and whether you choose an interest-only or repayment mortgage.
Repayment vs. Interest-only Mortgages Most mortgages are structured as repayment mortgages, also known as Capital and Interest mortgages. With this type, you make monthly payments to reduce both the borrowed capital and interest owed. By the end of the mortgage term, assuming you’ve made all payments, you will have fully repaid the original loan amount, including interest, and own the property outright. The mortgage term can be adjusted to accommodate your monthly affordability.
In contrast, interest-only mortgages involve repaying only the interest amount each month, without reducing the borrowed capital. The original loan amount is paid off at the end of the mortgage term. While interest-only mortgages have lower monthly payments, it’s crucial to ensure you have a savings plan in place to repay the borrowed amount at the end of the term.
Different Types of Mortgages The primary mortgage types include:
Fixed Rate Mortgages: These mortgages maintain a fixed interest rate for a predetermined period, typically two to ten years or longer. They provide stability, as your monthly payments remain the same regardless of interest rate fluctuations. However, if interest rates decrease, you’ll be locked into the higher fixed rate until the term ends. Early Repayment Charges (ERCs) may apply if you wish to switch deals before the fixed term expires.
Variable Rate Mortgages: With variable rate mortgages, your monthly payments can vary over time. Lenders usually have a Standard Variable Rate (SVR) that applies when any fixed or discounted rate deals end. Switching away from the SVR typically incurs no Early Repayment Charges. Other types of variable rate mortgages include:
Tracker Mortgages: These mortgages track a nominated interest rate (often the Bank of England base rate) plus a set percentage for a specific period. When the base rate increases, your mortgage rate rises by the same amount, and vice versa.
Discounted Rate Mortgages: Discounted mortgages offer a reduction from the lender’s SVR for a set duration, usually two to five years. However, your rate will fluctuate based on changes in the SVR.
Capped Rate Mortgages: Capped rate mortgages have variable interest rates but come with an upper limit (cap) beyond which your rate cannot rise. This offers some security against rising interest rates while allowing for potential decreases. Early Repayment Charges may apply if you fully repay the mortgage and switch to another deal.
Other Mortgage Types
Additional Considerations The availability of mortgage deals depends on your deposit
Calculator for Mortgage Interest Rates
Whether you currently have a mortgage or are in the process of obtaining one, you might be interested in understanding the potential consequences of fluctuations in interest rates. While predicting interest rates is challenging, it can be beneficial to comprehend how your payments would be affected if rates were to change in the future.
Our mortgage interest rate calculator is designed to assist you in determining how variations in interest rates would impact your monthly mortgage payments and gain insight into the potential financial implications. This tool is particularly relevant if you currently have a variable rate mortgage or are considering obtaining one.
In the past, it was common for people to obtain a 25-year mortgage and stick with the same lender until it was fully paid off. However, an increasing number of individuals now recognize the potential savings that come with switching to a different lender for a better deal.
It’s wise to stay informed about the market to ensure you’re not paying more than necessary for your mortgage. By taking this simple step, you could save thousands of pounds in interest over the course of your mortgage.
If you have significant equity in your home, meaning your mortgage is relatively small compared to the property’s value, you have the option to increase your remortgage loan and access some of that equity. For example, this can be used for home improvements or debt consolidation.
Let’s explore the reasons for remortgaging in more detail to help you determine if it’s the right time for you to make the switch.
Your current deal is about to expire: When your mortgage deal comes to an end, you typically transition to your lender’s Standard Variable Rate (SVR), which often results in higher mortgage costs. Many people choose to remortgage to another lender to secure a better deal and avoid paying more than necessary.
Increased value of your home: If the value of your property has risen, you may qualify for a better mortgage deal by having a lower loan-to-value (LTV) ratio. LTV represents the size of your mortgage compared to the property’s value, expressed as a percentage. A reduced LTV can open up access to improved mortgage options. If your LTV has significantly decreased since you took out your original mortgage, it may be worthwhile to consider remortgaging to obtain a better interest rate. However, keep in mind any potential Early Repayment Charges if you switch before your current deal ends.
Desire for overpayment flexibility: Overpaying your mortgage is advantageous, especially when your interest rate is currently low, and you anticipate potential rate increases in the future. While most lenders allow some level of overpayment, you may prefer a mortgage deal that offers more flexibility in this regard.
Need to borrow additional funds: If you have plans for home improvements or other financial requirements, remortgaging can provide an opportunity to borrow additional funds. This can be a cost-effective approach to financing projects that enhance the value of your home. For smaller amounts, unsecured personal loans may be a better option, despite higher interest rates and monthly payments, as they allow for faster repayment and lower overall interest costs.
Interest in purchasing a Buy to Let property: Remortgaging can be a helpful strategy for aspiring landlords. By releasing equity from your current home, you can use the funds as a deposit for a Buy to Let property. Although Buy to Let mortgages typically carry higher interest rates, using your own home’s equity as a deposit allows you to obtain a smaller Buy to Let mortgage. Keep in mind that you’ll need to demonstrate your ability to handle increased repayments on your existing property and provide information about the Buy to Let property to lenders to ensure responsible borrowing.
Desire to purchase another house: Remortgaging one property to finance the purchase of another can be a viable option if you have sufficient equity in your current home. The process is similar to obtaining a Buy to Let property, but without rental income. You must demonstrate that you can afford both mortgage payments based on your income alone.
Debt consolidation: If you’re considering remortgaging due to overwhelming debts, it’s essential to carefully assess the situation. Paying off other debts using funds released from your home can be helpful because mortgage interest rates are generally lower than those of personal loans and credit cards. However, it’s important to note that by converting your unsecured debts into secured debt
Calculator for Mortgage Interest Rates
Whether you currently have a mortgage or are in the process of obtaining one, you might be interested in understanding the potential consequences of fluctuations in interest rates. While predicting interest rates is challenging, it can be beneficial to comprehend how your payments would be affected if rates were to change in the future.
Our mortgage interest rate calculator is designed to assist you in determining how variations in interest rates would impact your monthly mortgage payments and gain insight into the potential financial implications. This tool is particularly relevant if you currently have a variable rate mortgage or are considering obtaining one.
What is involved in the process of remortgaging? The remortgaging process is typically less complex than purchasing a new home, and it may be simpler than you anticipate. However, it still requires careful consideration to ensure a smooth experience. Read on for a detailed explanation of the full remortgaging process, so you can be prepared for what lies ahead.
A good starting point is to determine your goals for remortgaging. Are you aiming to save money by securing a lower interest rate than your current one? Do you want to modify the terms of your mortgage to increase flexibility? Perhaps you wish to release equity accumulated in your home.
If your initial mortgage deal has expired or is about to, remortgaging can help you secure the best new deal and potentially save money.
Alternatively, you can reach out to one of our expert advisers today at:
01200 000 000
Key points to understand about the remortgaging process
How long does the remortgaging process take?
Remortgaging typically takes less time than buying a new home, but it can still require some time. It’s important to plan ahead to avoid any unexpected delays. Let’s review a typical timeline for the remortgaging process from start to finish, providing insight into when you should begin and highlighting important milestones along the way.
Just like when you first obtained your mortgage, lenders have specific criteria for remortgaging. Most lenders require a loan-to-value (LTV) ratio of 90% or less, although this can vary by lender. It’s advisable to consult with a mortgage broker like L&C, who can help you find the best options based on your circumstances. We’ll utilize our remortgage eligibility checker to identify the most suitable deal for you. This leads us to the next step in the process.
Before switching to a new lender, it’s worth exploring what your current provider can provide. They may have appealing offers available for existing customers. L&C can assist you in comparing the offerings from your current lender with those available by switching to a new lender. In many cases, we can facilitate a new deal with your existing lender if it proves to be the right choice.
Whenever possible, give yourself ample time to conduct research and find the most suitable deal. Most lenders allow you to apply and secure a rate three months before your current deal expires, enabling a seamless transition to the new deal when the old one concludes. Given the wide range of products in the market, some of which may disappear quickly, using a broker like L&C can expedite your search.
Consider whether you prefer a rate that can fluctuate with changing interest rates or if you prefer to ensure fixed monthly payments for a specific period by choosing a fixed-rate deal. It’s essential to consider not only the interest rate but also any associated fees.
Once we have conducted thorough research, found a suitable deal, and you have made your decision, it’s time to submit your application. Before doing so, we will provide you with a Key Facts Illustration (KFI) for the recommended deal, which outlines all the necessary details, costs, and fees involved. When you submit your online mortgage application, you will need to provide proof of identification, income, and outgoing expenses. Preparing in advance by gathering at least three months’ worth of payslips (or two years of accounts if self-employed),
Understanding Life Cover
Life Cover, also known as Life Insurance, Life Protection, or Term Assurance, is a financial product that provides a lump sum payment in the event of your death during the policy term. Its purpose is to offer financial support to your loved ones when you are no longer able to provide for them.
How Life Cover Works
Typically, life cover pays out a lump sum that can be utilized to maintain the standard of living for your dependents or to repay debts such as a mortgage. You determine the amount of cover you want (referred to as the sum assured) and the duration of the policy (the term). If you pass away within the specified time frame, the benefit is paid out.
There are generally three main types of life cover:
Cost of Life Cover
The monthly premium for life cover can be quite affordable. However, several factors influence the cost, including:
Generally, the younger and healthier you are, the lower the cost of life cover.
Importance of Life Cover
Although life cover is not mandatory, it is advisable to consider taking out a policy if you have dependents who rely on you financially. Life cover can be crucial for many individuals, particularly when there are significant life milestones such as purchasing a property, getting married, or having children. Assess whether your loved ones would be financially secure or comfortable if you were to pass away. If the answer is no, it is recommended to review your life cover needs. Our life cover calculator can assist you in determining the appropriate coverage amount.
FAQ
When should I start my life cover if I’m buying a home? We suggest starting your life cover when you formally exchange contracts, as this is when you assume responsibility for the property.
Can I rely on death in service benefits from my employer? Work benefits usually aim to replace your income for a specific period to help your family adjust. If you plan to use these benefits to repay a mortgage, it may be necessary to seek additional coverage to address other living expenses and costs. It’s important to remember that work benefits are tied to your employment, so having separate cover is advisable to ensure ongoing support for your family, regardless of your job situation.
Is my life cover policy guaranteed to pay out if I die? If you pass away within the policy term, the policy will pay out. However, there are circumstances where a claim may not be accepted, such as non-disclosure of a condition or information that could impact the provider’s decision to accept the application. Answering all application questions fully and accurately is vital to minimize the risk of non-disclosure. Some policies may also have exclusions for death caused by drugs or alcohol, dangerous activities, or suicide within the first 12 months of the policy.
Can I obtain life insurance with a pre-existing condition? The availability of life insurance depends on the severity of your condition. Some providers may decline your application, while others might offer coverage with an exclusion for your specific condition. Different providers have varying underwriting policies for pre-existing conditions, so consulting an adviser can help you secure the best terms and coverage.
Can I cancel my life cover policy? You have the option to cancel your policy within the first 30 days
Buy to Let Mortgage Calculator – Determining Borrowing Capacity
The borrowing amount for a Buy to Let mortgage primarily depends on the monthly rental income you currently receive or anticipate receiving. To provide you with an estimate of what you can borrow based on expected rental income, we offer this Buy to Let mortgage calculator.
Simply enter the amount of rent you currently receive (or expect to receive), and our calculator will determine the approximate lending capacity that lenders may consider for a Buy to Let mortgage. If you don’t have this information at hand, you can use our rent calculator to obtain an estimate of the appropriate rental amount.
Additionally, we will categorize the borrowing amount into three tiers (red, amber, and green), providing an indication of the likelihood of obtaining that specific loan amount.
It’s important to note that this estimate serves as a guide, as different lenders may have varying levels of generosity. Furthermore, some lenders may also consider your earned income from employment or self-employment when assessing your borrowing capacity.
How does Buy to Let work?
Buy to Let mortgages involve obtaining a loan secured against a property that you own and intend to rent out to tenants. Essentially, you are purchasing the property with the intention of letting it out.
Similar to a regular residential mortgage, it is your responsibility to make the monthly mortgage repayments. The key difference with a Buy to Let mortgage is that the amount you can borrow is primarily based on the rental income the property can generate, rather than solely relying on your personal income. To gain an estimate of your borrowing capacity, you can use our calculator. However, it’s important to note that while the rental income should ideally cover the mortgage cost and potentially leave some surplus, it is not guaranteed.
Becoming a landlord and obtaining a Buy to Let mortgage is not suitable for everyone, and it’s crucial to consider various factors before proceeding with the process.
If you’re interested in getting a Buy to Let mortgage, the following sections will guide you through the steps involved:
How to get a Buy to Let mortgage: Obtaining a Buy to Let mortgage can be straightforward, but it requires thorough research, time, and patience to make informed decisions at each stage of the process. The good news is that we can assist you with most of the hard work.
Choosing a Buy to Let property: At this stage, you likely have a specific city or town in mind for your property. Many landlords prefer properties located near their own residence. However, it’s essential to consider the balance between feasibility and profitability. This is where a letting agent can provide valuable assistance.
You can provide the letting agent with your preferred cities/towns, property types, and even tenant preferences. They can then advise you on the most suitable areas and properties based on your criteria. If you’re unsure about your preferences, the letting agents can help you explore and determine those aspects as well.
When working with a reliable letting agent, expect to address questions like:
Once you have answers to these questions (and more that will arise during discussions with the agent), you can make an informed investment decision and effectively market your property to future tenants.
Using a broker to obtain a Buy to Let mortgage: The best approach for securing a Buy to Let deal is to seek advice from an independent mortgage broker. Our role is to possess in-depth knowledge of the Buy to Let market and leverage that expertise to find the right deal with the appropriate lender. As independent advisers, we search the market to provide you with a comprehensive overview of the best current offers available.
The 5-step process of obtaining a Buy to Let mortgage:
There is no obligation or fee for our advice, and we are here to facilitate your Buy to Let mortgage journey.
If you are building wealth, it is imperative the structure of your assets is the most tax efficient and meets your objectives of wealth preservation and generational planning. We have vast experience in these fields and work with you to ensure your planning is potent and prolific.
Our team of international estate planning professionals specializes in efficiently managing international assets while guiding you through significant life events and various circumstances such as marriages, divorces, births, and deaths. Whether you are a UK resident with overseas assets or residing abroad with UK assets, we can provide expert advice.
With operations across Europe, HWM is on a mission to connect discerning clients with a team of experienced and dedicated wealth management professionals.
With operations across Europe, HWM is on a mission to connect discerning clients with a team of experienced and dedicated wealth management professionals.
With operations across Europe, HWM is on a mission to connect discerning clients with a team of experienced and dedicated wealth management professionals.
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