Mortgage Brokers in Platt, Kent

What is a mortgage broker?

A mortgage broker represents individuals or companies looking to broker mortgage loans. Mortgage brokers function to find banks or lenders that will willingly make the exact loan an individual requires.

You’ll have a stress-free time getting a great deal on the mortgage you need in Platt if you work with a mortgage broker. If you work with a reputable mortgage broker and have a poor credit score or any other issues that could affect your mortgage application, your chances would be greatly improved.

Professional mortgage brokers are bound under strict regulations and required to comply with banking and finance laws in the customer’s jurisdiction, so, you don’t have to worry about being in the wrong hands.

Handy Tools and Calculators

You can easily plan your future once you have an idea of the maximum you can borrow and how much the loan will cost. Take advantage of this handy calculator to determine exactly how much your mortgage repayments will be, based on your total loan figure and interest rate. Find out how much you’ll have to repay every month instantly by simply entering those values with your term and pressing ‘Click to calculate’.

Mortgage Calculator
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Why Use A Mortgage Broker?

There are a wide range of benefits to be enjoyed from working with a mortgage broker in Platt with regards your mortgage application. Of these benefits, some of the most evident include:

Save Money

The most visible benefit of choosing to work with a mortgage broker is that you will likely save money. An experienced expert can take care of the hard work and see to it that your interests are protected. You’ll only need to provide a few details.

Some people worry about how true this is, considering the entire idea of mortgage brokers is still misunderstood somewhat around the globe. So, where is the catch? A mortgage broker wouldn’t stand to gain anything by not working in your favour. You’ll need to bear this in mind, even though any concerns you might have are understandable.

The broker could actually be at a disadvantage if they cannot prove to you, their regulators, the Financial Conduct Authority or the Prudent Regulation Authority why they made the recommendations in respect of the mortgage in question. There are various inexpensive, exclusive mortgage deals that a number of mortgage brokers can find for their clients that could possibly reduce the total loan cost. A reputable mortgage broker will disclose how they are paid for their services, as well as detail the total cost of the loan. A mortgage advisor company values ensuring a positive experience for their customers over padding the pocket of a broker.

Search 1000s of mortgage deals by taking 15 minutes, speaking to 1 adviser

Finds The Most Advantageous Deal

For a mortgage broker, your interests – rather than those of the lending institution – are paramount. In addition to being your agent, they should also be knowledgeable consultants and problem solvers. For terms like interest rates, repayment value and loan products, you can get the best possible value from a broker, who has access to a wide array of mortgage products. The mortgage broker will talk with you to get a clear picture of your needs, as well as short and long term goals. Simple 30 or 15-year mortgages are not sufficient in many cases, which is why innovative mortgages and sophisticated solutions are distinct benefits of working with experienced brokers. These include mortgages to raise capital for repaying debts, money for marital needs or children, home renovations or the purchase of other properties such as buy to lets.

Has Flexibility Expertise to Meet Your Needs

A mortgage broker will work with the client in any situation, as well as manage the process and take care of any bumps in the road that may occur. For example, if borrowers face credit issues, the broker will know which lenders offer the best products to meet their particular needs. The knowledge and capability of a broker to successfully source financing will be of great benefit to a borrower who realises the loan they need may be too large for a bank to approve.

Save Time & Hassle

It’s not all about money. While it’s a good thing to save some extra money, your sanity and time matter just as much. Take into consideration the time you would need to research different kinds of loans from multiple lenders. With a mortgage broker, you’ll only need one application, rather than completing forms for each individual lender. A formal comparison of the loans recommended can be provided by your mortgage broker to act as a guide for the information that accurately illustrates the differences in cost, showing present rates and points, as well as closing costs for each loan. Your broker compares loans from major and less popular lenders to find you the best deal with the lowest rates and overall cost.

Reduce the workload for yourself and outsource it to someone who can provide professional advice. Mortgage brokers do the legwork for you by supporting you throughout the application and pre-approval process. This includes completing all paperwork, answering questions, helping you apply for government schemes and shedding light on options and loan features you may not have considered or even known about. Some of these features can include drawdown facilities, offset accounts and options for extra repayments to name but a few. These features can make a massive difference to your mortgage experience and overall costs. In fact, if you don’t know so much about these concepts and the effects they could have, you can find clarification and get answers to any questions you may have during a phone call.

Access to exclusive non-advertised deals

Exclusive deals not advertised by banks can accessed by mortgage brokers. The banks push these deals on to brokers, who are in charge of selling the products. Going to the bank directly could cause you to miss out on added benefits such as these, which you can procure by speaking to a broker.

A bank can provide access to their own deals (not those offered by other banks), but brokers can gain access to the entire market to find the best deals.

Better chance of pre-approval success

When you request an Agreement in principle/Decision in principle of a loan and are refused approval, this shows up on your credit rating. The experience and knowledge required for your best chance of approval the first time you apply is something brokers have in abundance.

Access to expert knowledge

The job of a mortgage broker is to help people secure loans. Helpful information and exclusive deals you won’t find yourself are accessible to them. If you’re not on the lookout for them, you might not notice the subtleties that accompany loans. At the end of the day, these subtleties tend to improve your mortgage chances. It is a huge plus to have the services of an experienced expert to show these things to you.
Instead of taking time out of your day to research thousands of loans and multiple lenders – and still potentially missing key subtleties – why not hand the work to someone who’s experienced in this industry? Just like you’d acquire the services of a hairdresser to replenish damaged hair or a plumber for leaking pipes, a mortgage broker is an excellent option for any of your home loan needs.

Contact the Mortgage Saving Experts in Horsell. You can reach us by dialling 01273 738 072 today for a friendly chat.

About Mortgage Saving Experts

Contrary to how they might seem initially, mortgages and insurance are not so difficult. Finding an adviser who is reliable, knowledgeable and has significant experience is very important for this reason. Our mortgage savings experts will ease the process for you and make it as simple as possible. Why complicate things more than necessary, after all? Let us make everything easy for you and ensure you get the best possible deal.

Mortgage Saving Experts offer honest and transparent services to our customers, making them feel that mortgages and insurance are not as problematic as they first appear. At Mortgage Saving Experts, we treat each mortgage and insurance application as if it were our own. We’re all about this. 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. We are here to assist! Approximately “Search up to a thousand mortgage deals by talking to an adviser for roughly 15 minutes.”

Our Team of Platt Mortgage Experts

Due to regulations by the Financial Conduct Authority (FCA), we must do all we can to get you the most suitable deal on the market. We must justify to our customers and regulators why we make the mortgage recommendations we do, so you know just why you have that mortgage.

“Down to Earth Mortgage”

We are a team of experienced mortgage insurance experts, driven by honesty, passion and enthusiasm.

Our mortgage insurance experts take pride in listening to the current and future objectives our customers have. These goals will be achieved when we work with you intently.

Why chose Mortgage Saving Experts?

After taking out a mortgage, you’ll get an initial rate for the first couple of years. After this initial rate finishes, the rate increases to the lender’s variable rate. Three months before you’re due to renew, our team will reach out to secure a new deal before your monthly payments and rate increase. Here are some of the other advantages you’ll enjoy if you work with us:

  • You can save extra cash, because you’ll get a preferable deal to the bank variable rate.
  • You don’t have to remember when your deal finishes, as we will do this for you.
  • We can take care of the hard work for you while you relax.
  • We are good at what we do, so you’ll always be advised by professional mortgage experts.
  • Comparing, advising and setting up the best possible mortgage deal from amongst the many available is what we do.
  • You’ll be provided expert advice and support right through the mortgage process.

Our Approach to Mortgage Advice

We offer a personalised service that takes into consideration your unique needs. We approach mortgage advice using three basic 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

How Mortgage Saving Expert Brokers Can Help you:

What makes our services superior to those of other mortgage brokers in Platt includes:

  • Get to determine your situation and requirements by fact-finding.
  • Point out the costs that come with buying and selling.
  • Ask for applicable documents necessary for the application.
  • Provide explanations and recommendations for the prospective mortgage.
  • Provide answers to your questions.
  • Get an agreement in principle.
  • Get your whole mortgage application submitted.
  • Liaise with your estate agent, mortgage lender and solicitor to answer any question through to completion.
For a first-hand experience of how amazing our services are, give us a call today

Mortgage Types We Provide Expert Advice On

We dispense expert advice on a wide range of mortgage products. In choosing to work with our team, finding the ideal mortgage product to meet your needs will be relatively easy. Some of the most commonly requested mortgage types we help with include:

First time buyers

Most mortgage lenders put people in the First Time Buyers category if they 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.

The rules and ideas on this are different across various lenders. Typically, there are no problems with being a First Time Buyer. 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.

Mortgages can seem a daunting process, but they do not have to be. The prospect of buying your first home comes with a lot of excitement, so if you manage to find a competent broker who can oversee the process at a reasonable price, then go right ahead. It is abundantly clear why you should use one. 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’s the same with mortgages. Mortgage brokers can save you time, effort and money, so why not use one? The initial consultation is free of charge.

Buying a home

You should get to know more about mortgages if you’re thinking of buying a home in the near future or a few years to come. Study what you should do before the application, during the process of application, and how to utilise the mortgage after buying your property. If you’d prefer a different approach, then speak to an adviser who can guide you through it.

Your credit is important.

A mortgage is a major issue. A lot of money has been risked by banks over the years; notably, they have been more and more cautious since the subprime mortgage crisis of 2008. To be eligible for a mortgage, good credit is useful but not absolutely essential. We can also guide you with regards how much you can afford to pay for your new home and what should be your price ceiling, based on your current situation. Helping you buy your dream home is not all we do; we will also help you finance it with the lowest cost and most beneficial mortgage deal available.

Re-mortgage your home

Simply put, all you’re doing with this is changing from one lender to another to get a better rate or cheaper deal. The two don’t automatically go hand in hand. Let me clarify this. It may seem unwise to pay an arrangement fee to another lender to get on a lower rate if you have a small mortgage. You may find it’s more practical to go on a slightly higher rate, without paying arrangement fees to any lender. Asking for advice before making up your mind about the deal is important, so that you don’t end up with a more expensive deal on the whole, even at a lower rate.

Pay close attention. One upside to re-mortgaging is that your usually not required to pay for valuation or solicitors fees, although some people don’t qualify for this. This is because it is dependent on your circumstances alone at the time of re-mortgaging. So please check or ask your adviser.

A smart way to significantly minimise the cost of your mortgage bills is to undertake a re-mortgage on time. While a re-mortgage deal can be beneficial for some, it’s not the best move for everyone, as it all depends on your unique circumstances.

  • Based on your unique circumstances, such as…
  • Mortgage debt isn’t so big.
  • The financial disposition is now different.
  • Early repayment charge that’s costly.
  • Decrease in home value.
  • You have credit issues.
  • Current rate is ideal.
  • We will guide you when deciding to re-mortgage or not.

Buy to Let

A property purchased in order to be rented to tenants is a ‘buy to let’. Legally, you aren’t allowed to live in the property. You can purchase a buy to let property as a First Time Buyer, but you’ll be restricted to the number of available lenders, while extra checks will be made by the lender in such situations.

  • When purchasing a buy to let property, there are a few things you’ll need to know.
  • The amount of rental income you receive more or less affects how the loan amount you’re able to borrow.
  • Other than your regular stamp duty, you will have to pay an extra 3% stamp duty on top.
  • If the value of the property isn’t valued at the amount for which stamp duty becomes liable, you are still required to pay the extra 3% of purchase cost.

TIP: If you want to buy a second property, find out the amount you’ll be require pay from your conveyancer/solicitor. A good adviser will know the exact questions to pose and will find a mortgage that fits your exact requirements. Get in touch with our advisers to find out if you qualify.

How Much Do Mortgage Brokers Charge?

Commission is usually paid to mortgage brokers by lenders; this will be a percentage of the mortgage loan you secure. This is often about 0.33%, even though it largely varies, based on your mortgage needs. For example, a residential mortgage or buy to let and if you’ve had any credit issues recently. The majority of independent brokers typically charge a flat fee of around £500. Remember to ask brokers how they want to be paid. They need to be totally clear, informing you of the fee structure they use and just how much you are due to be charged.

For our fee structure, we charge clients £695; any commission we receive from mortgage lenders is subtracted from that figure If we receive a commission below the value of £695, we ask the client to pay the difference between the received commission and £695. If we receive a mortgage commission of £495 for example, we would ask our clients to pay us the difference of £200 after the mortgage offer is produced, so we are only paid on results.

How Much Can I Borrow?

A lot of factors influence this, like the number of children you have, the deposit amount, your income and any debts you might have in the background. A total affordability assessment is required to determine how much a lender will agree to lend; this takes into account your income, any loan or credit card commitments you have, as well as regular household expenses. Other than this, they will also carry out a credit check to ensure you have an agreeable credit rating for mortgage purposes.

For a more accurate idea of how much you can borrow, get a decision in principle before you apply for a mortgage in full. Make plans to meet with one of our experienced mortgage experts now. Initially, we can at least give you an idea, without needing to conduct any credit checks.

The Latest Best Mortgage Rates

Whether you want a re-mortgage, move home, find a mortgage for a first-time buyer or purchase a buy to let, we can help. We compare thousands of the latest mortgage deals to help you find exactly what you need.

Request a free quote from Mortgage Saving Experts, your Platt Expert Mortgage Broker

What Our clients say About us

In Platt, we have long and diverse list of satisfied clients. If you aren’t convinced that we are the professionals to make the best possible mortgage deal in Platt at the lowest price, take a look at what some of our customers have said about their experience with us. Reach out to us today for a personal experience of how effective our services are.

Latest Mortgage News

Having more information at your disposal when looking for the most ideal mortgage deal places you in a more advantageous position. To provide insight and help you get started, find recent news on mortgages below.

Mortgage Regulatory Information

Banks, building societies and specialised mortgage lenders account for the bulk of mortgage providers in the UK. 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.

Even with regulations in the UK that closely guide banks and building societies, a regulatory scheme was set up just for mortgages (as a result of the Financial Services Act 2000) by the FCA (the former Financial Services Authority).

The FCA regulates the professional behaviour of mortgage providers. Tough rules are in place concerning checks that ensure customers are fairly treated in terms of contracts for financial services, as well as misleading and unfair adverts and promotions. Regulations were originally set out in the rules for Mortgage Conduct of Business (MCOB), but these were overhauled as a result of the FCA Mortgage Market Review (MMR) in 2014.

Deposit-taking organisations in the UK are under the jurisdiction of the Prudential Regulation Authority (a sister organisation to the FCA) for their financial conduct.

They ensure firms have adequate capital levels to balance out their lending risks. For lodging complaints about your mortgage provider, the first step is to take it up with them. If you think it hasn’t been sorted out satisfactorily, you can take the complaint to the Financial Ombudsman Service if necessary. 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 Get in touch with the Mortgage Saving Experts in Platt. You can do this by dialling 01273 738 072 for a friendly chat.

What to Ask Your Platt Mortgage Broker?

What happens if you don’t respond to my messages within that timeframe?

This is a valid follow-up question. Remember, insist on receiving a specific answer. As soon as your questions are answered, find out about the broker putting both claims down on paper. The seriousness of these claims will be all too evident.

How quickly will you respond to my messages?

You don’t want a broker who can’t respond sufficiently to any issues that could arise during the application process, hence the need for this question. Be forceful in asking for a specific answer: for example, say “within three hours” rather than “quickly”.

How much hand-holding is involved during the buying process?

This question is necessary to ascertain whether you will be closely guided by the broker (through this potentially complicated and stress-filled process) or be expected to figure things out on your own.

Why should I choose you rather than another broker?

Knowing you’re in safe hands is important, as it can be both complicated and stressful when purchasing property and organising finance. This makes it necessary to make sure brokers answer this question before you decide on who to work with. Don’t let the broker get away with vague statements like “Because I’m the best” or “Because I provide great service”. More details can be acquired by using follow-up questions.

  • “Why exactly are you the best?”
  • “In what way do you deliver great service?”

What sort of clients do you specialise in?

Another necessary question to ask. The reason is that while many borrowers work only with ‘plain vanilla’ clients, many others may prefer complex investors or borrowers with credit issues. Hypothetically speaking, Broker A may have worked on 450 regular loans and 50 bad-credit loans, while Broker B may have worked on 50 regular loans and 250 bad-credit loans. Therefore, if you were a borrower with credit problems, you might be better off with Broker B. Then, ask questions regarding their standard of customer service.

What will the true cost of my home loan be?

A good way to benefit from their experience and specialist knowledge is to ask them to figure out just how much your home loan will cost. A mortgage illustration with the actual cost attached can be sourced by your broker, depending on factors such as whether you’ll pay repayment or interest only; the length of your loan term; the size of the deposit you have in place; and the rates payable. This is usually reflected in the Annual Percentage Rate (APR). To significantly reduce the total cost of your loan, the loan term can be minimised and the deposit maximised. Determining exactly how much your home loan will cost requires much more work. Upfront fees need to be included in the entire cost; these include valuation fees, conveyancing and legal fees. For instance, using drawdown facilities can incur ongoing fees. Even though it’s not possible to foretell the exact cost of your mortgage in figures – and we can’t rule out the fact that things may change that can affect your ability to pay – a broker can put all the relevant details into perspective. Recommendations can be made by Mortgage Saving Experts for the protection and insurance of you and your family to provide for all of life’s unfortunate eventualities. Our team of advisers will utilise this information to help figure out the best possible loan for you.

How much can I borrow?

The big question plaguing home buyers tends to be “How much can I borrow?” Several factors affect the maximum amount, because lenders are all different in this area. In most cases, you can borrow up to roughly five times your gross annual salary, but in some instances, you may be able to borrow up to 5.5 times your gross annual income. We can get a much clearer indication of your borrowing capacity once you get in touch with us. Brokers act as middlemen between you and the lender. Lenders will require information concerning your debts, living expenses, credit score and any dependents you might have. All these details can be factored into the best loan by a broker. Home loan terms can also be explained to you by a broker, such as Loan-to-Value (LTV), which is in effect a percentage of the full loan amount you are seeking as a percentage of the property purchase value. They can also explain things like the differences in interest rates and repayment types, such as Interest Only and Repayment (Capital and Interest).

How many loans have you written during that time?

Asking this question as a follow-up is prudent, because it will give you a better understanding of the broker’s overall experience. For instance, consider that two imaginary brokers joined the industry in 2013, but while one has written 500 loans in that time, the other has written just 300. In that case, despite spending the same amount of time in the industry, the differences in their hand-on experience would be all too obvious.

How much experience do you have?

This is a good starting point, as a suitably experienced broker will certainly know more than a less experienced one. Press for specific responses like “10 years” or “I’ve been in the mortgage industry since 2005”, as opposed to vague answers, such as “I’m very experienced in that area”.

Get in contact with the Mortgage Saving Experts in Horsell. You can reach them by dialling 01273 738 072 today for a friendly chat.

Want to know more?

Get in touch with of our mortgage saving experts today to find out how we can help.

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