Mortgage Brokers in Charlbury, Oxfordshire

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. A reputable mortgage broker will disclose how they are paid for their services, as well as detail the total cost of the loan. Positive user experience is much more valuable to a mortgage advisor company than padding out an individual broker’s pocket.

Save Time & Hassle

It isn’t only about money. Your time and sanity are just as important as saving some extra money. Imagine how much time it would take to find out about the numerous types of loans available from multiple lenders. You’d be required to fill out just one application with a mortgage broker, unlike completing one for every different lender. Your mortgage broker can make available a formal comparison of the loans recommended to advise on the information which completely illustrates cost differences, along with present rates, points and closing costs for every loan shown. 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.

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. A few of the features may include options to make extra repayments, as well as drawdown facilities and offset accounts. Features like these can make a huge difference to your mortgage costs and overall 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

When you request an Agreement in principle/Decision in principle of a loan and are refused approval, this shows up on your credit rating. 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. Helpful information and exclusive deals you won’t find yourself are accessible to them. There are small details accompanying loans that you might miss if you’re not looking for them. In fact, it is these small details that can make a difference to your mortgage in the long run. It’s beneficial to have an experienced professional to point out these things for 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? 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 complex as they seem at first. That’s why finding honest advisers with invaluable experience and knowledge is so important. Our mortgage savings experts will ease the process for you and make it as simple as possible. Besides, why complicate things more than necessary? Let us make things easy for you and make sure we find you the most suitable 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. Here at Mortgage Saving Experts, we treat all mortgage and insurance applications as our own. This is what we do. 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. Providing help is why we’re here! Essentially “Search 1000s of mortgage deals by taking 15 minutes to speak to 1 adviser.”

Our Team of Charlbury 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 need to provide justification to our customers and regulators for recommending the mortgages we do, so you understand just why you have that particular mortgage.

Our Approach to Mortgage Advice

The services we offer are personalised and take into account 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 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.

For each lender, the rules and ideas about this differ. Being a First Time Buyer is not generally considered to be a problem. First Time Buyers must not have owned property anywhere in the world before to be eligible for stamp duty relief for stamp duty purposes.

While mortgages may look like a tedious process, they don’t have to be. 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 purpose of using one is straightforward enough. After all, if you don’t know a thing about cars and yours breaks down, you would rather call a mechanic than 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. You won’t have to pay for the initial consultation.

Your credit is important.

A mortgage is of major importance. 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. To qualify for a mortgage, good credit is helpful, but not essential. If your credit score is low or there are other circumstances that might complicate your mortgage application, we have the expertise to provide all the necessary guidance to help you qualify for the best mortgage deal for your dream home. We will help you with funding, the lowest cost and most suitable deal on offer, in addition to helping you buy your dream home.

Tread carefully. 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, do find out from your adviser.

A smart way to significantly minimise the cost of your mortgage bills is to undertake a re-mortgage on time. 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 ‘buy to let’ property is one bought with a view to renting to others. Legally, you cannot 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.

• There are a few things you may need to be aware of when purchasing a buy to let property.
• 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: 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. Get in touch with our advisers to find out if you qualify.

How Much Can I Borrow?

This is based on a number of factors, such as the amount you deposit, your income, the number of children you have, and any current debts you might have. 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 be sure of how much you can borrow, obtain a decision in principle, prior to completing a full application. Arrange to see one of our qualified 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

Building societies, specialised mortgage lenders and banks provide the most mortgages across the UK. 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.

Even though UK banks and building societies have always been regulated closely, the FCA (formerly the Financial Services Authority) put a regulatory scheme in place for mortgages, because of the Financial Services Act 2000.

The professional conduct of mortgage providers is regulated by the FCA. 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. Regulations were initially documented in the rules for Mortgage Conduct of Business (MCOB), but were overhauled because of the 2014 FCA Mortgage Market Review (MMR).

With regards their financial conduct, deposit-taking firms in the UK come under the jurisdiction of FCA’s sister organisation, the Prudential Regulation Authority.

They make sure firms have a substantial 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 feel it hasn’t been handled properly, there is a procedure that can have your complaint referred 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 Charlbury. For a brief and informal chat, call us now on 01273 738 072.

What to Ask Your Charlbury Mortgage Broker?