Mortgage advice tailored to your specific requirements
For many buying a house can be an exciting but also daunting prospect. Having an experienced mortgage broker to help you through the process can save you stress, time and money.
Here are some of the key reasons to instruct a mortgage broker or financial adviser who specialises in mortgages:
- A mortgage broker that you instruct represents you. He or she has no allegiance to the estate agent, solicitor or vendor you are buying through or from.
- An experienced mortgage broker will have dealt with many cases before and should know the type of properties to avoid, give tips on negotiation and provide some background to the legal pitfalls that can delay or stop a purchase in its tracks.
- Whilst borrowing money is all about finding the cheapest rates there are subtle differences between mortgage products that you may or may not understand. Different lenders have different lending policies and some lenders do not lend at all in certain situations. Having an experienced broker to guide you through how best to use product features and lending policies can lead to savings in the long term.
- The person arranging your mortgage has the most detailed knowledge of the mortgage market of any professional involved in the transaction. With an experienced broker advising on mortgages, a surveyor advising on surveys and valuations and a solicitor or conveyancer advising on the legal aspects, you can be confident of receiving the most suitable advice overall.
A good mortgage broker knows every element of the property purchase or remortgage because he or she interacts with every other key person in the deal. This in-depth knowledge is vital in advising you as to:
- The progress of the transaction
- Problems that may occur
- Whether the proposed purchase is worth pursuing
Not all mortgage brokers are the same, finding one that genuinely has your best interests at heart can be a useful addition to the team you engage for your purchase or remortgage.
In contrast to the limited service proposition of most high street banks, my fully comprehensive advice service does not stop once a suitable mortgage product has been researched and applied for.
By keeping in close contact with clients throughout what can be a very involved and stressful period of their lives, I am able to help project manage the otherwise demanding house buying process.
From early advice on what sort of property to buy and areas to consider, to helping find a good solicitor, through to advice on which survey to instruct and ensuring all documents and paperwork are forwarded and submitted at the right times, I am on hand to help and advise wherever I can.
- How much can you afford to borrow?
- How much deposit do you need?
- Which lenders will lend to you?
- How much money will you need to cover moving costs and fees?
- What will your total monthly outgoings be if you own your home instead of renting?
- What size mortgage can you get?
- Who do you talk to and how do you start?
- What types of insurance will you need?
- What type of mortgage is right for you?
Choosing the right mortgage product has become even more complicated in the recent past with lenders tightening criteria in a bid to minimise their risk amid more scrutiny from the regulator.
With years of experience and access to the whole of the market, I am well placed to help you find the most suitable mortgage, even in this difficult climate. Whether you are buying a property for the first time or the twentieth time of you want to raise capital on your current mortgage, I have the expertise to make sure you get the most suitable solution for your circumstances.
Types of Mortgage
Fixed rate mortgages are for those of us who want to be certain of their monthly outgoings and a good option if you are of the opinion that interest rates will rise. They are protected from interest rate fluctuations for the length of deal period. Whilst most clients opt for a two, three or five year fix.
Tracker mortgages track the Bank of England base rate and are dependent on its fluctuations. If it drops you pay less, if it increases you pay more. Lifetime tracker mortgages are available for the entire duration of the loan period.
Offset mortgages allow you to offset any money in your current or savings account against your mortgage, so you only pay interest on the difference. As the savings for offset mortgages aren’t currently taxed, it can be an efficient way for high rate tax payers to use their money.