Mortgage Brokers in Sarre, Kent

In fact, a broker could be in serious trouble if they are unable to prove to you, their regulators, the Financial Conduct Authority or the Prudential Regulation Authority why they’ve recommended the particular mortgage that they have. Many mortgage brokers can obtain exclusive mortgage deals not found on the high street, potentially making the total loan cost lower for the client. Reputable mortgage brokers will usually inform you how they get paid for their services, as well as disclose the details of the entire cost of the loan. 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 is not just about money. Your time and sanity are just as important as saving a bit of extra cash. Imagine how much time it would take to find out about the numerous types of loans available 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 recommended loans can be made available by your broker to provide information that would clearly show the differences in cost, including current rates and the costs of closing each of the loans. Your broker will set deals from major and less popular lenders side by side in order to discover an agreeable deal, with rates and total costs that are lower.

By outsourcing, you can reduce the workload and get someone else’s 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 types of features can make a significant difference to your mortgage cost and experience. Better still, your broker can answer any questions you might have over the phone or provide clarity if you don’t know much about these concepts and the impact they could have on you.

Better chance of pre-approval success

If you’re knocked back after requesting an Agreement in principle/Decision in principle of a loan, this will leave a mark against your credit rating. You’ll need the necessary knowledge and experience a broker has to secure approval on your first attempt.

Access to expert knowledge

Helping people secure loans is what mortgage brokers do for a living. They have access to information and select deals you wouldn’t discover by yourself. Loans are attached to subtleties you could easily overlook if you aren’t searching for them. It’s these subtleties that can make a difference to your mortgage in the long haul. It’s beneficial to have an experienced professional to point out these things for you.
Rather than putting time aside to research thousands of loans and several lenders – and still possibly miss important subtleties – why not let someone else who has industry experience handle the work? Just as you would contact a plumber for a leaking pipe or a hairdresser to replenish damaged hair, a mortgage broker is an excellent choice for all your home loan needs.

About Mortgage Saving Experts

Mortgages and insurance are not as complicated as they might first seem. This is why it’s very important to find honest advisers, who are knowledgeable and experienced. Our Mortgage Saving Experts will make your journey as seamless and transparent as possible. After all, why make things more difficult than they need to be? Allow us to secure the best deal possible for you and make everything straightforward.

With the honest and transparent services customers receive at Mortgage Saving Experts, they will come to realise that mortgages and insurance are not as challenging as they seem. All mortgage and insurance applications are handled like they’re our own at Mortgage Savings Experts. We’re all about this. No matter the circumstances – whether this is your first time buying, you’re a landlord, moving onto a new chapter or even re-mortgaging, Mortgage Saving Experts are here to help. We’re here to help! Approximately “Search 1000s of mortgage deals by taking 15 minutes to speak to 1 adviser.”

Our Team of Sarre Mortgage Experts

Because we’re regulated by the Financial Conduct Authority (FCA), we strive to get you the best possible 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.

Our Approach to Mortgage Advice

We provide personalised services and pay attention to all your specific 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. There usually are no issues in being a First Time Buyer. To qualify for stamp duty relief, First Time Buyers must have never been property owners in any location in the world previously.

Mortgages may appear to be a rather difficult process, but they really don’t have to be. It’s rather exciting to be buying your first home, so if you find a reputable broker to get the job done for you at a fair price, then do use one. The purpose of using one is straightforward enough. Besides, if your car breaks down and you have no knowledge of cars, you wouldn’t attempt to fix it yourself; you would use the services of a mechanic. It isn’t any different with mortgages. You can cut down on cost, effort and time with mortgage brokers, so why not use one? There are no charges for the initial consultation.

Your credit is important.

A mortgage is a major issue. The banks risk a lot of money and have been increasingly cautious since the subprime mortgage crisis in 2008. For mortgage eligibility, good credit helps, but isn’t vital. We can also provide guidance about the amount you can afford to pay for your new home and what should be your maximum offer, based on your current circumstances. Not only will we help you buy your dream home, we’ll also help you finance it with the lowest cost and most convenient mortgage deal available.

Focus on any small print. The potential absence of valuation or solicitors fees is one of the plus points of re-mortgaging, even though not everyone qualifies for this. Any reasoning depends solely on your circumstances at the time of re-mortgaging. So, please check with your adviser.

Performing a re-mortgage in time is a practical way to reduce your mortgage costs significantly. 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 purchased in order to be rented to tenants is a ‘buy to let’. You are not allowed to legally 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.

• When purchasing a buy to let property, there are a few things you’ll need to know.
• The loan amount you can borrow is largely dependent on the rental income you receive.
• You will have to pay 3% stamp in addition to 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: Ask your solicitor/conveyancer to work out how much you’ll have to pay if you’re buying a second property. To find the best mortgage to match your requirements, a good adviser will know which questions you need to answer. 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. The amount a lender would be willing to lend is dependent on a comprehensive affordability assessment that helps them understand your income, as well as any loan or credit card commitments you might have and everyday household expenses. 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. 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.

Mortgage Regulatory Information

In the UK, most mortgages are provided by building societies, specialised mortgage lenders and banks. In total, there are roughly 200 financial institutions that provide mortgages in Britain, even though the biggest share of the market is owned by Lloyds Banking Group and Nationwide Building Society.

In the UK, despite there being tight regulations that guide banks and building societies, a regulatory scheme was implemented by the FCA (formerly the Financial Services Authority) in response to the Financial Services Act 2000.

Mortgage providers are tightly regulated by the FCA, in terms of their professional conduct. 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.

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

They ensure firms have a sizeable enough capital to balance out their lending risks. The first step in tackling any issue you have with regards your mortgage provider 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 Contact the Mortgage Saving Experts in Sarre. You can do so by calling us on 01273 738 072 for a friendly conversation.

What to Ask Your Sarre Mortgage Broker?