Mortgage Brokers in Wingham, Kent

What is a mortgage broker?

To broker a mortgage loan, a mortgage broker will act as a link on behalf of an individual or business. The purpose of mortgage brokers is to look for banks or direct lenders that will willingly provide the specific loan an individual would need.

If you work with a mortgage broker in Wingham, it won’t be so difficult to get a great deal on the mortgage loan you require. 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.

Because professional mortgage brokers are regulated to assure compliance with banking and financial laws in the jurisdiction of the consumer, you can be assured you’re in good hands.

Handy Tools and Calculators

Knowing how much you can borrow – as well as the cost of the loan – will help make planning your future easier. Find out just how much your mortgage repayments are going to be, dependent on your interest rate and full loan amount, using this handy calculator. 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 Wingham with regards your mortgage application. Some of the most obvious of these benefits are:

Save Money

In working with a mortgage broker, the most noticeable benefit would be the opportunity to save money. You’ll just need to fill out some details and an experienced professional with your best interests in mind will deal with the hard work.

For some people, there are doubts regarding this, mostly because mortgage brokers are not fully understood worldwide, so it’s generally thought there must be some sort of catch. While this train of thought is understandable, be assured that most mortgage brokers don’t have an incentive to work against your best interests.

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. 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. 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. For a mortgage advisor company, a positive user experience is higher on the value chain than lining the pockets of an individual 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. Acting as your agent isn’t all they should do, but also problem solvers and knowledgeable consultants too. You can get the best value as per interest rates, loan products and repayment amounts thanks to the wide range of mortgage products to which a broker has access. You will be interviewed by the mortgage brokers to determine your needs and goals – both in the short and long term. Many situations demand more than the simple use of a 30-year or 15-year mortgage. Therefore, innovative mortgage strategies and sophisticated solutions are distinct advantages of working with an experienced mortgage broker. These include mortgage to raise capital for repaying debts, money for the children or essential home improvements, or even to enable the purchase of other properties such as buy to lets.

Has Flexibility Expertise to Meet Your Needs

Any problems that may arise can be dealt with by a mortgage broker, who will oversee the whole process, guiding the client through any situation along the way. For example, borrowers with bad credit issues can find great products that will suit their needs through brokers who know lenders that offer such products. If a borrower requires a large loan – considerably more than what the bank will approve – the knowledge and expertise of a broker in securing financing would be a distinct advantage.

Save Time & Hassle

It’s not all 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. Your mortgage broker can provide a formal comparison of any loans recommended, as well as advise on the information which accurately portrays cost differences, reflecting current rates, points, and closing costs for each loan. 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. To be of assistance throughout the entire application and approval process, mortgage brokers do the bulk of the work. This includes handling all the paperwork, helping with applications for government ski schemes, answering questions and providing insight on other options and loan features you may not have given thought to. Drawdown facilities, offset accounts and extra repayments (to name a few) are just some of the features involved. Your general mortgage experience and overall expenses can be largely affected by these features. If you’re unfamiliar with these concepts and how they might affect you, your broker can clarify and answer any questions via a phone call.

Access to exclusive non-advertised deals

Brokers have access to exclusive deals which the banks do not announce. 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.

While banks can only provide their own deals (and not the deals offered by other banks), brokers can scour the entire market to discover the most suitable deal.

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. With the required knowledge and experience brokers possess, you’ll have a better chance at approval the first time around.

Access to expert knowledge

Mortgage brokers assist people with obtaining loans as part of their job. They have access to helpful information and exclusive deals you’d otherwise not find. If you’re not on the lookout for them, you might not notice the subtleties that accompany loans. The difference to your mortgage could ultimately be made by these subtleties. An experienced professional to point you in the right direction is extremely beneficial.
Rather than sacrifice a chunk of your day researching thousands of loans and lenders (and still potentially missing out on key subtleties), why not let someone with industry experience handle the work? 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

Contrary to how they might seem initially, mortgages and insurance are not so difficult. That’s why finding honest advisers with invaluable experience and knowledge is so important. 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.

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. All mortgage and insurance applications are handled like they’re our own at Mortgage Savings Experts. This is what we do. Mortgage Saving Experts are here, no matter what the circumstances, whether you’re a landlord, first time buyer, moving on to a new chapter or just re-mortgaging. We are here to provide assistance! Basically “Find out about 1000s of mortgage deals by putting 15 minutes aside to talk to 1 adviser.”

Our Team of Wingham 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.

“Down to Earth Mortgage”

We are an honest, passionate, enthusiastic and very experienced team of mortgage and insurance experts.

Our mortgage and insurance experts are particularly good at listening to your current and future goals. We then work closely with you to achieve those goals.

Why chose Mortgage Saving Experts?

For the first couple of years, you’re allowed an initial rate after taking out a mortgage. After the initial rate period, the rate is then raised to the lender’s variable rate. You will be contacted by our team approximately three months prior to the renewal time to agree a new deal, before the monthly payment and rate are increased. Other advantages of working with us are:

  • The deal you’ll get is better than the bank variable rate, which in turn saves you money.
  • We can provide updates relating to the end of your deal, so you need not worry.
  • While we deal with the stress on your behalf, you can sit back and ease your mind.
  • We know our stuff; you’ll always receive pertinent advice from a qualified mortgage expert.
  • Comparing, advising and setting up the best possible mortgage deal from amongst the many available is what we do.
  • You’ll receive expert advice and support throughout the entire mortgage process.

Our Approach to Mortgage Advice

We offer a personalised service that takes into consideration 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

How Mortgage Saving Expert Brokers Can Help you:

The things that make our services the best amongst mortgage brokers in Wingham include:

  • Learn about your situation and needs via fact-finding.
  • Point out the costs that come with buying and selling.
  • Request relevant documents to assist with the application.
  • Propose and explain the likely mortgage.
  • Get answers to any questions you might have.
  • Obtain an agreement in principle.
  • Send in your entire mortgage application.
  • Work with your estate agent, solicitor and mortgage lender to answer any questions comprehensively.
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 our clients expertly on a vast selection 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

First Time Buyers are classified by the majority of mortgage lenders as those 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 ideas and rules differ from lender to lender. Being a First Time Buyer is not generally considered to be a problem. To qualify for stamp duty relief, First Time Buyers must have never been property owners in any location in the world previously.

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. With mortgages, the same principle applies. You can save on time, effort and even money with mortgage brokers, so you should use one. The initial consultation is free of charge.

Buying a home

If you’re considering a home purchase in the near future (or even within a few years, you should certainly brush up on your mortgage knowledge. Find out what to do before applying for a mortgage; during the application process; and how to use it accordingly after purchasing your home. If you prefer otherwise, then instead speak to an adviser who will guide you through it.

Your credit is vital.

A mortgage is a serious affair. 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. For mortgage eligibility, good credit helps, but isn’t vital. 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

In essence, the only thing you’re doing here is swapping one lender for another to get a cheaper deal or better rate. They don’t always sit well together. 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.

Be careful. A notable benefit of re-mortgaging is the absence of solicitors or valuation fees, even though some people are not eligible for this. Any reasoning depends solely on your circumstances 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. Even though a re-mortgage deal is accompanied by various benefits, it might not the best choice for you, depending on your unique circumstances.

  • Depending on your individual circumstances, such as…
  • Mortgage debt isn’t considerable.
  • The financial situation is no longer the same.
  • Early repayment charge that’s costly.
  • A reduction in home value.
  • You have credit problems.
  • Present rate is very agreeable.
  • We will provide guidance to help you choose whether to re-mortgage.

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. If you’re purchasing a buy to let as a First Time Buyer, the number of lenders available will be restricted and there will be extra checks carried out by the lender in such cases.

  • When purchasing a buy to let property, you’d be required to know quite a few things.
  • The rental income you receive is a primary factor when determining the size of the loan you can borrow.
  • Other than your regular stamp duty, you will have to pay an extra 3% stamp duty on top.
  • 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: If you’re looking to buy a second property, you should ask your solicitor/conveyancer to work out the amount you have to pay. To find the best mortgage to match your requirements, a good adviser will know which questions you need to answer. Get in touch with our advisers to find out if you qualify.

How Much Do Mortgage Brokers Charge?

The majority of mortgage brokers receive commission from lenders, which is a percentage of the mortgage loan you secure. While the figure varies widely, it is generally set at around 0.33%, depending on the type of mortgage you require. For example, this could be a residential mortgage or buy to let and would take into account whether you’ve had any credit troubles recently. A flat fee of roughly £500 is usually charged by the majority of independent brokers. Be sure to find out from brokers how you pay them. They must be completely clear, letting you know the exact figure and fee structure in place.

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 the commission we receive is less than £695, we then ask the client to make up the difference between what we have been paid in commission up to £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 will agree to lend is determined by a total affordability assessment, which will provide insight regarding your income, regular household expenditures and any credit card or loan commitments you might have. For mortgage purposes, they will also perform a credit check to be sure you have an adequate credit rating.

To be sure of how much you can borrow, obtain a decision in principle, prior to completing a full application. Arrange for an appointment with one of our certified mortgage experts today. Without the need for credit checks, we can at least provide an initial estimate.

The Latest Best Mortgage Rates

Whether you’re looking to re-mortgage, move home, find a first-time buyer mortgage or 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 Wingham Expert Mortgage Broker

What Our clients say About us

The list of happy clients in Wingham is a lengthy and diverse one. If you aren’t convinced that we are the professionals to make the best possible mortgage deal in Wingham at the lowest price, take a look at what some of our customers have said about their experience with us. To get a first-hand experience of the great services we provide, call us today.

Latest Mortgage News

The more information available to you when trying to secure the best mortgage deal, the more advantages you’ll enjoy. Below can be found recent news on mortgages to provide the insight you need to get started.

Mortgage Regulatory Information

The majority of mortgages in the UK are made available by banks, building societies and specialised mortgage lenders. In Britain, there are around 200 different financial institutions that make mortgages available, even though Lloyds Banking Group and Nationwide Building Society has the biggest portion of the market share.

Due to the Financial Services Act 2000, a regulatory scheme specifically for mortgages was implemented by the former Financial Services Authority (now the FCA), even though close regulations have always been in place to guide banks and building societies in the UK.

The FCA regulates the professional behaviour of mortgage providers. There are strict rules regarding the use of unfair, misleading adverts and promotions, as well as checks to make sure the terms of any contract for financial services are fair for the consumer. 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 a high enough level of capital to offset 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 Reach out to the Mortgage Saving Experts in Wingham. You can reach them by dialling 01273 738 072 today for a friendly chat.

What to Ask Your Wingham 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.

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

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