Mortgage Brokers in Upper-Harbledown, Kent

What is a mortgage broker?

A mortgage broker represents individuals or companies looking to broker mortgage loans. Mortgage brokers strive to find a bank or direct lender that will agree to meet the particular loan an individual requires.

Working with a mortgage broker in Upper-Harbledown will help you get the mortgage loan you require at a favourable deal, without any unnecessary stress. Even if you have a poor credit score or any other issues that could affect your mortgage application, working with a reputable mortgage broker will still boost your chances considerably.

With regulations in place to make sure professional mortgage brokers follow banking and finance laws in the relevant customer jurisdiction, you won’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?

Working on your mortgage application with a mortgage broker in Upper-Harbledown comes with many different benefits. Some of the most prominent benefits are:

Save Money

In working with a mortgage broker, the most noticeable benefit would be the opportunity to 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? Even though this line of thought is understandable, you can rest easy, because not working in your best interests is in no way profitable to a mortgage broker.

In truth, brokers have to provide viable reasons to you, their regulatory body, the Prudent Regulation Authority or the Financial Conduct Authority for recommending the mortgage they have. To not do so could lead to them facing significant problems. Exclusive mortgage deals not found on the high street can be unearthed by many mortgage brokers, which could potentially cut the cost of the entire loan for the client. 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. Positive user experience is much more valuable to a mortgage advisor company than padding out an individual broker’s pocket.

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

Finds The Most Advantageous Deal

A mortgage broker will work towards protecting your interests, rather than those of the lending institution. Not only should the role of being your agent be their focus, they also need to be knowledgeable consultants and problem solvers. A broker has access to many different mortgage products and can therefore offer you great value in terms of relation interest rates, loan products and repayment amounts. You’ll be required to meet with the mortgage broker to document your needs, as well as your short and long term goals. Amongst the benefits of working with experienced mortgage brokers are innovative mortgages and sophisticated solutions, because regular 15 or 30-year mortgages aren’t usually sufficient. These include money for children or carrying out much needed renovations, mortgages to raise capital for repaying debts or even money to buy other properties like 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. If a borrower has credit issues for instance, the broker would know about lenders who have the best products available to meet their needs. If a borrower requires a loan too large for the bank to approve, a broker can be of benefit by providing the knowledge and ability to successfully source financing.

Save Time & Hassle

Money isn’t the only consideration. Your time and sanity are just as important as saving a bit of extra cash. Consider how much time it would take you to research multiple loan types from multiple lenders. You’d be required to fill out just one application with a mortgage broker, unlike completing one for every different 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.

Outsourcing the work to someone who can provide an expert opinion is a great way to relieve yourself of the burden involved. Mortgage brokers do the bulk of the work by helping you during the application and approval process in ways such as taking care of all paperwork; answering questions; handling applications for government schemes; and providing information about the various options and loan features you aren’t aware of. A few of the features may include options to make extra repayments, as well as drawdown facilities and offset accounts. Your general mortgage experience and overall expenses can be largely affected by these features. 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.

Access to exclusive non-advertised deals

There are exclusive deals that aren’t advertised by banks to which brokers have access. The brokers are charged with selling the products, as the deals are pushed on to them by the banks. Talking to a broker can release these extra perks, which you’d otherwise not enjoy by contacting the bank yourself.

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. 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. In fact, it is these small details that can make a difference to your mortgage in the long run. 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? A mortgage broker is a great choice for your home loan requirements, just as a plumber is for fixing a leaking pipe and a hairdresser for dealing with damaged hair.

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

Mortgages and insurance are not as complex as they seem at first. 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. Why complicate things more than necessary, after all? Allow us to ease the entire process and obtain the best deals available for you.

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. Here at Mortgage Saving Experts, we treat all mortgage and insurance applications as our own. This is what we’re primarily concerned with. At Mortgage Saving Experts, our services are available regardless of circumstances, whether you’re a landlord, a first-time buyer, moving onto a new chapter or simply re-mortgaging. We’re here to help! In essence “Search up to a thousand mortgage deals by talking to an adviser for roughly 15 minutes.”

Our Team of Upper-Harbledown 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.

“Down to Earth Mortgage”

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

Our mortgage and insurance experts pride themselves on listening to what your current and future objectives are. To achieve these objectives, we will then work hand in hand with you.

Why chose Mortgage Saving Experts?

You’ll get an initial rate for the first few years after taking out a mortgage. The lender’s variable rate is implemented after the initial rate is complete. Before your monthly payment and rate are increased, our team will reach contact you to arrange a new deal roughly three months prior to the date of renewal. Included below are the plus points of working with us:

  • You can save extra cash, because you’ll get a preferable deal to the bank variable rate.
  • You don’t have to keep track of the timeline, as we will look after this for you.
  • You can take a breather, while we do the bulk of the work.
  • We know our business, so you’ll only be advised by qualified mortgage experts.
  • We compare, advise and arrange the best mortgage for you from thousands of available deals.
  • You’ll be provided expert advice and support right through the mortgage process.

Our Approach to Mortgage Advice

The services we offer are personalised and take into account your unique needs. Our approach 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

How Mortgage Saving Expert Brokers Can Help you:

The things that make our services the best amongst mortgage brokers in Upper-Harbledown include:

  • Understand your needs and circumstances via fact-finding.
  • Point out the costs that come with buying and selling.
  • Ask for applicable documents necessary for the application.
  • Make relevant suggestions and provide explanations about the prospective mortgage.
  • Get answers to any questions you might have.
  • Collect an agreement in principle.
  • Submit your full mortgage application.
  • Communicate with your solicitor, mortgage lender and estate agent to respond to any questions 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 advise expertly on a vast selection of mortgage products. You won’t have any difficulty finding the right mortgage products to suit your needs when working with us. Some of the most frequently requested types of mortgage we assist with include:

First time buyers

Most mortgage lenders Categorise First Time Buyers 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.

The rules and ideas on this are different across various lenders. 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.

Mortgages can seem a daunting process, but they do not 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 reason you should use one is fairly obvious. After all, if your car broke down and you knew nothing about cars, you wouldn’t try to fix it yourself. Instead, you would take it to a mechanic. With mortgages, it is exactly the same. You can save on time, effort and even money with mortgage brokers, so you should use one. There are no charges for the initial consultation.

Buying a home

If you’re considering buying a home in the near future or further down the line, you should get to know mortgages a lot better in the meantime. Get to know what to do before your mortgage application, during the application process itself and the way in which to use it after buying the property. If you prefer otherwise, then instead speak to an adviser who will guide you through it.

Your credit is crucial.

A mortgage is serious issue. Banks put up a lot of money at their own risk. So much so, they’ve been very careful since the subprime mortgage crisis of 2008. Good credit helps to qualify for a mortgage, but it isn’t a necessity. 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. We won’t just facilitate the purchase your dream home, we will also help you fund it with the lowest cost and most favourable mortgage deal on offer.

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. They don’t necessarily have to be paired together. Let me simplify this for you. If you have a small mortgage, you’ll probably find it’s not worthwhile paying an arrangement fee to the lender just to go on a lower rate. You may realise that it’s less expensive to go on a slightly higher rate than paying any lender an arrangement fee. Even with a lower rate, you could end up having a costlier deal in total, which is why it’s always prudent to talk to someone before you make any decisions.

Tread carefully. One benefit of re-mortgaging is that you’ll not normally pay for any valuation or solicitors fees, although not everyone qualifies for this. This is because only your circumstances are considered at the time of re-mortgaging. So please check or ask your adviser.

A re-mortgage completed on time is a smart way to significantly reduce the cost of your mortgage related bills. 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 considerable.
  • Financial circumstances have changed.
  • Early repayment charge is on the high side.
  • Home value reduced.
  • You are having trouble with credit.
  • Already on a suitable current rate.
  • We will guide you when deciding to re-mortgage or not.

Buy to Let

A ‘buy to let’ property is one bought with a view to renting to others. Legally, you aren’t allowed to live in the property. The number of available lenders will be restricted if you’re a First Time Buyer, purchasing a buy to let property. Also, extra checks are made by the lender in cases like these.

  • When purchasing a buy to let property, you’d be required to know quite a few things.
  • The loan amount you can borrow is mostly based on the total rental income you receive.
  • A payment in respect of an extra 3% stamp duty will be required after your normal stamp duty.
  • You’ll still have to pay the extra 3% of the purchase price, even if the property isn’t valued as it should be 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 help determine the most suitable mortgage to meet your needs, an expert mortgage adviser will know the specific questions to which you will need to provide answers. Get in touch with our advisers to find out if you qualify.

How Much Do Mortgage Brokers Charge?

A percentage of your mortgage loan is paid as commission to many mortgage brokers by lenders. 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. Most independent brokers charge a flat fee, which is typically around £500. Be sure to ask brokers how you can pay them. The should be totally transparent, disclosing the amount to be charged, as well as their available fee structure.

We charge the client £695 as part of our fee structure; if the mortgage lender pays any commission, it is then deducted 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. For instance, if the commission we receive is £495, then we would require you to pay £200 to make up the difference. This can be paid when your mortgage offer has been produced, meaning we only get paid on results.

How Much Can I Borrow?

Many factors affect this, such as how much you earn, the amount you deposit, the number of children you have, as well as any debts you might 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. In addition, they will perform a credit check to ensure your credit rating is sufficient for the purpose of a mortgage.

To get an idea of the amount you can loan, get a decision in principle before applying for a mortgage in full. Arrange to see one of our qualified mortgage experts today. Without the need for credit checks, we can at least provide an initial estimate.

The Latest Best Mortgage Rates

We can provide help in many different situations; for instance, re-mortgaging, first time purchase, moving home or buy to lets. We make comparisons on thousands of recent mortgage deals to help you find just what you’re looking for.

Request a free quote from Mortgage Saving Experts, your Upper-Harbledown Expert Mortgage Broker

What Our clients say About us

The list of happy clients in Upper-Harbledown is a lengthy and diverse one. If you’re not yet persuaded that we are the experts who can get you the best mortgage deal in Upper-Harbledown at the cheapest cost, see what some of our customers have got to say about working 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. Below is the latest insightful mortgage news to help you get started on the right path.

Mortgage Regulatory Information

The majority of mortgages in the UK are made available by banks, building societies and specialised mortgage lenders. Although a big portion of the market share is owned by Lloyds Banking Group and Nationwide Building Society, all together there are 200 different financial institutions providing mortgages in Britain.

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).

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. The original regulations represented in the rules for Mortgage Conduct of Business (MCOB) were reconstructed due to the 2014 FCA Mortgage Market Review (MMR).

The Prudential Regulation Authority (a sister organisation to the FCA) presides over deposit-taking organisations in the UK, with regards their financial conduct.

They make sure firms have capital large enough to cancel out their lending risks. If you have a complaint about your mortgage provider, the first step is to take up the matter 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 Get in touch with the Mortgage Saving Experts in Upper-Harbledown. You can reach them by dialling 01273 738 072 today for a friendly chat.

What to Ask Your Upper-Harbledown 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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