Mortgage Brokers in Hollingbourne, Kent

In short, a broker is required to give proof of their reasons for recommending the mortgage they have (to you, their regulators, the Prudent Regulation Authority or Financial Conduct Authority) or they could be penalised. Exclusive mortgages deals exist on the lower end that can be obtained by a number of mortgage brokers, possibly making the total cost of the loan that bit lower. A reputable mortgage broker will disclose details of how they take payment for their services and convey the components which make up the entire mortgage cost. Filing the pockets of a broker is of little value to a mortgage advisor company when compared to making sure customers have a positive experience.

Save Time & Hassle

It’s never just about money. Your time and sanity are just as important as saving a bit of extra cash. Think of the amount of time you’d spend researching multiple loan types from multiple lenders. You would only have to fill out one application form, instead of one for every lender you have to work with. The loans recommended can be formally compared for you buy your mortgage broker. This will serve as a guide to the information which correctly shows cost differences, with present rates, points and closing costs for each loan illustrated. Comparisons will be made by your broker between popular and less popular lenders to get you the most suitable deal, with lower rates and total cost.

You don’t have to burden yourself with all the work, as outsourcing is a viable option to take in order to gain expert advice. A mortgage broker can do a lot of the work by providing you with support throughout the application and approval process. This might involve completing all paperwork, helping you with applications to government schemes, answering questions and explaining the options and loan features, about which you may not have been aware. These features could include things such as drawdown facilities and options for making extra repayments and offset accounts. A noticeable difference can be made to your overall experience and the cost of your mortgage. If you don’t know much about these concepts and how they can work for you, reach out to your broker over the phone for clarification and answers.

Better chance of pre-approval success

A mark is left on your credit rating if your request for an Agreement in principle/Decision in principle of a loan is turned down. Brokers have the knowledge and experience required to give you the best shot at being approved at the first attempt.

Access to expert knowledge

Mortgage brokers assist people with obtaining loans as part of their job. There’s much information and numerous exclusive deals available to them that you won’t find by yourself. Loans are attached to subtleties you could easily overlook if you aren’t searching for them. In the long run, subtleties like these are significant to your mortgage. It is a huge plus to have the services of an experienced expert to show these things to you.
Instead of removing a chunk of your day to conduct voluminous research of loans and multiple lenders as well as possibly missing important subtleties, why not give the work to a person who has ample industry experience? The same way you would contact a plumber to fix a leaking pipe or a hairdresser to work on damaged hair, contacting a mortgage broker is an ideal option for your home loan needs.

About Mortgage Saving Experts

Contrary to how they might seem initially, mortgages and insurance are not so difficult. This is why it’s very important to find honest advisers, who are knowledgeable and experienced. Our mortgage savings experts will ease the process for you and make it as simple as possible. After all, why make everything more stressful than it ought to be? Let us simplify everything for you and ensure we get the best deal possible.

You’ll be left thinking that mortgages and insurance are not as difficult as they appear, because of the reliable and transparent service Mortgage Saving Experts provide our customers. At Mortgage Saving Experts, we handle every single mortgage and insurance application like they belong to us. This is what we do. It doesn’t matter what the situation is – whether you’re a first-time buyer, a landlord, re-mortgaging or moving on to a new phase altogether – Mortgage Saving Experts are here to help. Assisting you is the reason we’re here! Fundamentally “Take 15 minutes to talk to 1 adviser and find out about 1000s of mortgage deals.”

Our Team of Hollingbourne Mortgage Experts

As we are bound by regulations of the Financial Conduct Authority (FCA), we must ensure we get you the best available deal on the market. We must justify to you and our regulators why we recommend the mortgages we do, so you know exactly why you have the mortgage you have.

Our Approach to Mortgage Advice

We make available personalised services and put into consideration all your unique needs. The approach we take to mortgage advice involves three simple steps:

1. Let’s have an Initial Chat, so we can get to know You and What Your Requirements Are
2. We Search the Entire Market to Find the Best Deal for You
3. We’ll Present you with the Cheapest and best Deals Available for Both Mortgages and Insurance Cover

First time buyers

First Time Buyers are classed by most mortgage lenders as people who have either:

1. Never owned a property or
2. People who have owned a property in the past, but not owned one for six months or more.

Different lenders have different ideas and rules regarding this. Normally, being a First Time Buyer is no issue. In order to qualify for stamp duty relief, it’s necessary for First time Buyers to have never been property owners before; this applies anywhere in the world.

The mortgaging process might appear to be challenging, but this isn’t necessarily so. The purchase of your first home can be filled with excitement, so if you discover a well-respected broker to manage the process for a reasonable price, then use one. The reason you should use one is quite apparent. If you have no knowledge about cars and yours develops a fault, you would call a mechanic rather than attempt to fix it yourself. It isn’t any different with mortgages. Mortgage brokers can save you time, effort and money, so why not use one? The initial consultation is free of charge.

Your credit is a necessity.

A mortgage is serious issue. The banks risk a lot of money and have been increasingly cautious since the subprime mortgage crisis in 2008. To be eligible for a mortgage, good credit is useful but not absolutely essential. Depending on your present circumstances, we can be your guide on how much you can afford to pay for your new home and help set your cost limit. We will help you with funding, the lowest cost and most suitable deal on offer, in addition to helping you buy your dream home.

Be careful. One advantage of re-mortgaging is that you won’t have to pay any valuation or solicitors fees. That said, not everyone is eligible for this exemption. The reason is that it is based on your disposition alone at the time of re-mortgaging. So, please make enquiries with your adviser.

A re-mortgage completed on time is a smart way to significantly reduce the cost of your mortgage related bills. Although it can be a good thing – depending on your individual needs – a re-mortgage deal might not be the most suitable choice.

Buy to Let

A property bought with the purpose of renting to tenants is known as ‘buy to let’. Legally, you cannot live in the property. If you’re a First Time Buyer, you can purchase a buy to let property, but the number of lenders available is restricted. There are also extra checks made by the lender in these circumstances.

• You may need to know certain things when purchasing a buy to let property.
• The loan amount you can borrow is dependent on how much rental income you receive.
• You’ll be required to pay a 3% stamp duty after your normal stamp duty.
• An extra 3% of the purchase price will still be required of you, even if the value of the property isn’t high enough for the stamp duty to be liable.

TIP: You should ask your solicitor/conveyancer to figure out how much you must pay when considering buying a second property. A reputable adviser will know just what questions to ask in order to figure out the best mortgage for your specific needs. Contact our advisers to find out whether you’re eligible.

How Much Can I Borrow?

This takes into account many factors, such as how much you deposit, the amount you earn, the number of children you have and what debts (if any) you have in the background. How much a lender is willing to lend is based upon a full affordability assessment, whereby they will look to understand your income, as well as any loan or credit card commitments and regular essential household expenditure. Other than this, they will also carry out a credit check to ensure you have an agreeable credit rating for mortgage purposes.

Get a decision in principle before you finish your mortgage application; this way, you can form a clearer idea with regards the amount you can borrow. Arrange for an appointment with one of our certified mortgage experts today. We can at least give you an idea, without having to do any credit checks at the initial stage.

Mortgage Regulatory Information

In the UK, most mortgages are provided by building societies, specialised mortgage lenders and banks. There is a total of 200 different financial institutions which offer mortgages in Britain, although Lloyds Banking Group and Nationwide Building Society owns the market’s largest share.

Although banks and building societies have always been closely regulated in the UK, the former Financial Services Authority (now the FCA) implemented a regulatory scheme specifically for mortgages as a result of the Financial Services Act of 2000.

Mortgage providers are tightly regulated by the FCA, in terms of their professional conduct. There are stern rules that serve as a guide with regards using unfair, deceitful promotions and adverts, as well as checks for financial service contracts for consumers. The original regulations represented in the rules for Mortgage Conduct of Business (MCOB) were reconstructed due to the 2014 FCA Mortgage Market Review (MMR).

In terms of their financial conduct, organisations collecting deposits in the UK fall under the Prudential Regulation Authority, the FCA’s sister organisation.

They make sure firms have capital large enough to cancel out their lending risks. For lodging complaints about your mortgage provider, the first step is to take it up with them. If you don’t like how the issue has been dealt with, you can take your complaint to the Financial Ombudsman Service. Some mortgages are not regulated by the Financial Conduct Authority such as moist Buy to Let mortgages and if you make a complaint about these you are unable to take these to the Financial Ombudsman Service Contact the Mortgage Saving Experts in Hollingbourne. You can reach us by dialling 01273 738 072 today for a friendly chat.

What to Ask Your Hollingbourne Mortgage Broker?