Mortgage Brokers in Shelswell, Oxfordshire

What is a mortgage broker?

A mortgage broker acts as an intermediary who brokers mortgage loans on behalf of individuals or businesses. Mortgage brokers exist to find a bank or direct lender that will be willing to make the specific loan an individual requires.

Working with a mortgage broker in Shelswell will help you get the mortgage loan you require at a favourable deal, without any unnecessary stress. The right broker will also improve your chances of getting a mortgage, even if you have a poor credit score or are subject to any other circumstances that could complicate your mortgage application.

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

Being aware of what you can borrow and the amount the loan will cost will make it simpler to plan your future. With this handy calculator, get a better understanding of how much your mortgage repayments will be, based on your full loan and interest rate. Simply fill in the values plus your term and press ‘Click to calculate’ to immediately discover the amount you must repay monthly.

Mortgage Calculator
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Why Use A Mortgage Broker?

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

Save Money

The most obvious benefit of choosing a mortgage broker is the potential 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.

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? As understandable as such thoughts are, it’s important to understand that mortgage brokers have nothing to gain by not working in your best interests.

If the broker cannot provide genuine reasons for recommending the mortgage they have (to you, their regulators, the Financial Conduct Authority or the Prudential Regulation Authority), then they could be in serious trouble. 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. 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. Not only should the role of being your agent be their focus, they also need to be knowledgeable consultants and problem solvers. A broker can offer the best value when it comes to repayment amounts, interest rates and loan products. This is because a large variety of mortgage products are accessible to them. You will be interviewed by the mortgage brokers to determine your needs and goals – both in the short and long term. The simple use of a 30 or 15-year mortgage is inadequate for many situations, which is why sophisticated solutions and innovative strategies are the benefits of working with an experienced mortgage broker. This includes mortgage to raise capital for repayments, money for necessary home improvements or children, or even to buy other properties such as buy to lets.

Has Flexibility Expertise to Meet Your Needs

The client will be under the direction of a mortgage broker, who will manage the process and handle any issues that could arise 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. 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 is not just about money. Your time and sanity are just as important as saving some extra money. Take into consideration the time you would need to research different kinds of loans from multiple lenders. Unlike working with different lenders – which would require you to complete different forms every time – you’d only need one form with a mortgage broker. 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.

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. 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. 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

Exclusive deals not advertised by banks can accessed by mortgage brokers. The deals are pushed by the banks on to the brokers, who are then charged with overseeing the sale of products. Contacting a broker will unlock these extra benefits you would miss out on if you were to approach the bank yourself.

Unlike brokers who have access to the whole market to search for the best deals, banks can offer their own deals alone – and not the deals offered by other banks.

Better chance of pre-approval success

Whenever you request an Agreement in principle / Decision in principle of a loan, this leaves a mark on your credit rating if you’re refused. You’ll need the necessary knowledge and experience a broker has to secure approval on your first attempt.

Access to expert knowledge

A mortgage broker’s job is to help people obtain loans. They have access to helpful information and exclusive deals you’d otherwise not find. If you aren’t looking for them, you’re likely to miss the subtle details that come with loans. At the end of the day, these subtleties tend to improve your mortgage chances. It’s beneficial to have an experienced professional to point out these things for you.
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? 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.

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 might seem really complicated at first, but they’re not. This is why it’s very important to find honest advisers, who are knowledgeable and experienced. Our mortgage savings experts will make your task as easy and straightforward as possible. After all, why make everything more stressful than it ought to be? Let us simplify everything for you and ensure we get the best deal possible.

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 handle every single mortgage and insurance application like they belong to us. These are the things we’re about. 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. Providing help is why we’re here! Approximately “Search up to a thousand mortgage deals by talking to an adviser for roughly 15 minutes.”

Our Team of Shelswell Mortgage Experts

We make sure we help you get the best available deal the market can offer, as we are regulated by the Financial Conduct Authority (FCA). You’ll get to understand why you received the mortgage you did, because we have to justify the recommendations we make to both you and our regulators.

“Down to Earth Mortgage”

Our team of mortgage insurance experts is made up of honest, passionate, enthusiastic and widely experienced individuals.

Your current and future goals will be identified by our mortgage insurance experts after talking with you. We then work closely with you to achieve those goals.

Why chose Mortgage Saving Experts?

For the first few years after taking out a mortgage, you’ll be subject to an initial rate. After the initial rate period, the rate is then raised to the lender’s variable rate. Our team will contact you three months prior to the date of renewal to strike a new deal, before both your rate and monthly payment are raised. Other benefits of working with us include:

  • The deal you’ll get is better than the bank variable rate, which in turn saves you money.
  • You don’t have to remember when your deal finishes, as we will do this for you.
  • While we deal with the stress on your behalf, you can sit back and ease your mind.
  • We know our onions, so you’ll only ever be advised by 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 be provided expert advice and support right through the mortgage process.

Our Approach to Mortgage Advice

We make available personalised services and put into consideration all 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 reasons our services are better than those of other mortgage services in Shelswell include:

  • Find out what your needs and circumstances are through fact-finding.
  • Explain the costs involved with buying and selling.
  • Request applicable documents to aid the application.
  • Propose and explain the likely mortgage.
  • Get answers to any questions you might have.
  • An agreement in principle will be put in place.
  • Have your full 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 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. The most popular mortgage types we’re requested to handle 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. There usually are no issues in being a First Time Buyer. To be eligible for stamp duty relief, First Time Buyers are required to never have been owners of property before. This is applicable worldwide for stamp duty purposes.

While mortgages may look like a tedious process, they don’t have to be. Buying your first home is one of the most exciting things ever, so if you find a reasonably priced, reputable broker to manage the process for you, do hire their services. It is abundantly clear why you should use one. It stands to reason that you would contact a mechanic if your car became faulty – especially if you knew little or nothing about cars. It’s the same with mortgages. 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

You should brush up your knowledge of mortgages if a home purchase is a viable option for you any time soon (or a few years down the line). 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’d prefer a different approach, then speak to an adviser who can guide you through it.

Your credit is of great importance.

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. Good credit helps to qualify for a mortgage, but it isn’t a necessity. We can also offer guidance regarding how much you can afford to pay for your new home and how to set your limit, depending on your ongoing 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 short, this means you’ll switch from one lender to another to get a more affordable rate or cheaper deal. They don’t necessarily have to be paired together. Let me clarify this. If your mortgage is a small one, you might find that it isn’t profitable paying an arrangement fee to a lender to secure a lower rate. You may find it’s more practical to go on a slightly higher rate, without paying arrangement fees to any lender. Even if the rate is lower, you could find that you chose a more expensive deal when you add it all up, hence the need to speak to someone before deciding.

Be careful. 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. This is because it is dependent on your circumstances alone at the time of re-mortgaging. So, please make enquiries with your adviser.

A re-mortgage completed on time is a smart way to significantly reduce the cost of your mortgage related bills. Depending on your circumstances, it might not be the ideal move for you – even though a re-mortgage arrangement certainly has its benefits.

  • Based on your specific needs, such as…
  • Mortgage debt is relatively small.
  • The financial disposition is now different.
  • Early repayment charge is on the high side.
  • Home value dropped.
  • You have credit problems.
  • Already on a suitable current rate.
  • We will dispense advice on the merits of pursuing a re-mortgage.

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. 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.

  • There are some things you might want to know when purchasing a buy to let property.
  • 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: You should ask your solicitor/conveyancer to figure out how much you must pay when considering buying a second property. A reputable adviser will know just what questions to ask in order to figure out the best mortgage for your specific needs. To see if you’re eligible, reach out now to our advisers.

How Much Do Mortgage Brokers Charge?

Many mortgage brokers are paid commission from lenders, which represents a percentage of your mortgage loan. Even though the figure isn’t set in stone, it is usually about 0.33%, based on the type of mortgage you require – for instance, a residential mortgage or buy to let. Also, any recent credit issues you may have had would be taken into consideration. Most independent brokers charge a flat fee, which is typically around £500. Remember to ask brokers how they want to be paid. The should be totally transparent, disclosing the amount to be charged, as well as their available fee structure.

The fee structure we adopt is based upon charging the client £695 and deducting from that figure any commission paid by the mortgage lender. If the commission paid to us falls short of £695, our client will then be asked to make up the difference between the commission we receive and the figure of £695. If we receive a mortgage commission of £495, our client would be required to pay £200, which would be paid after the mortgage offer has been forthcoming, meaning we only get paid according to 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. A credit check will be undertaken for mortgage purposes to confirm you have sufficient credit rating.

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 Shelswell Expert Mortgage Broker

What Our clients say About us

We have a list of clients in Shelswell that is both lengthy and diverse. If you still have doubts about our ability to professionally provide the best deal in Shelswell at the cheapest price, see for yourself what some of our customers have said about their experience with us. For a first-hand experience of just how amazing our services are, give us a call today.

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

Most mortgages in the UK are provided by building societies, banks 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.

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 FCA monitors the professional conduct 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.

Regarding their financial conduct, organisations that take deposits in the UK fall under the FCA’s sister organisation’s jurisdiction, the Prudential Regulation Authority.

They ensure firms have a sizeable enough capital to balance out their lending risks. For lodging complaints about your mortgage provider, the first step is to take it up with them. You utilise a complaint procedure via the FCA if you don’t think it has been suitably dealt with. In turn, this can be referred to the Financial Ombudsman Service if deemed 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 Shelswell. You can reach us by dialling 01273 738 072 today for a friendly chat.

What to Ask Your Shelswell 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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