Mortgage Brokers in Stanton-St.-John, Oxfordshire

What is a mortgage broker?

Mortgage loans are brokered on behalf of companies and individuals by mortgage brokers, who effectively act as intermediaries. Mortgage brokers exist to find a bank or direct lender that will be willing to make the specific loan an individual requires.

You’ll have a stress-free time getting a great deal on the mortgage you need in Stanton-St.-John if you work with a mortgage broker. 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.

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. 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. 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?

In Stanton-St.-John, working with a mortgage broker on your mortgage application is beneficial in a number of ways. 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. You only need to provide a few details, before an experienced professional committed to protecting your interests handles 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? 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.

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 how they are paid for their services, as well as detail the total 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.

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

Finds The Most Advantageous Deal

A mortgage broker will always be in favour of your own interests and not those of the lending institution. Acting as your agent isn’t all they should do, but also problem solvers and knowledgeable consultants too. With access to a wide range of mortgage products, a broker can offer you the greatest value in terms of interest rates, repayment amounts, and loan products. The mortgage broker will talk with you to get a clear picture of your needs, as well as short and long term goals. 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 instance, a broker will have knowledge of the lenders who offer the best products to meet the needs of a client with a credit issue. 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

It is not just about money. While it’s a good thing to save some extra money, your sanity and time matter just as much. Consider how much time it would take you to research multiple loan types 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. 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. 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.

Take some of the work off your shoulders and outsource it to someone who can offer expert 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. These features can make a massive difference to your mortgage experience and overall costs. In fact, if you don’t know so much about these concepts and the effects they could have, you can find clarification and get answers to any questions you may have during a phone call.

Access to exclusive non-advertised deals

There are exclusive deals not made public by the banks that brokers have access to. The brokers are charged with selling the products, as the deals are pushed on to them by the banks. Going to the bank directly could cause you to miss out on added benefits such as these, which you can procure by speaking to a broker.

Brokers can search the whole market for the finest deal, whereas individual banks can only offer their own deals and not those of other banks.

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. Brokers have the knowledge and experience required to give you the best shot at being approved at the first attempt.

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. If you’re not on the lookout for them, you might not notice the subtleties that accompany loans. In fact, it is these small details that can make a difference to your mortgage in the long run. Having the services of an experienced professional who can point these out for you is a huge benefit.
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.

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 make everything easy for you and ensure you get the best possible deal.

Mortgage Saving Experts provide an honest and transparent service that will leave our customers thinking that mortgages and insurance aren’t as daunting as they may seem. At Mortgage Saving Experts, we handle every single mortgage and insurance application like they belong to us. This is what we’re all about. 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! Essentially “Find out about 1000s of mortgage deals by putting 15 minutes aside to talk to 1 adviser.”

Our Team of Stanton-St.-John 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). 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.

“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. Three months before you’re due to renew, our team will reach out to secure a new deal before your monthly payments and rate increase. 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.
  • 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.
  • We compare thousands of deals, so can advise you accordingly and arrange the very best.
  • For the entire mortgage process, you will be expertly advised and supported.

Our Approach to Mortgage Advice

We provide personalised services and pay attention to all your specific 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:

What differentiates our services from those of other mortgage brokers in Stanton-St.-John includes:

  • Understand your needs and circumstances via fact-finding.
  • Clarify the costs related to buying and selling.
  • Ask for applicable documents necessary for the application.
  • Recommend and explain the prospective mortgage.
  • Get answers to any questions you might have.
  • Collect an agreement in principle.
  • Get your whole mortgage application submitted.
  • We will collaborate with your estate agent, solicitor and mortgage lender and reply 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. In choosing to work with our team, finding the ideal mortgage product to meet your needs will be relatively easy. Some of the most frequently requested types of mortgage we assist with include:

First time buyers

Many mortgage brokers consider First Time Buyers 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.

Every lender has different rules and ideas about this. Normally, being a First Time Buyer is no issue. 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 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. Why you should use one is pretty 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. With mortgage brokers, you can cut down on money, effort and time, so you should use one. You won’t have to pay 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. Study what you should do before the application, during the process of application, and how to utilise the mortgage after buying your property. If you would rather avoid any stress, speak to an adviser, who will guide you accordingly.

Your credit is of great importance.

A mortgage is serious issue. Banks risk a large amount of money and have been steadily more careful since the subprime mortgage crisis in 2008. To qualify for a mortgage, good credit is helpful, but not essential. Depending on your present circumstances, we can be your guide on how much you can afford to pay for your new home and help set your cost limit. 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

Simply put, all you’re doing with this is changing from one lender to another to get a better rate or cheaper deal. The two do not necessarily go hand in hand. I’ll explain this clearly. 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. It may seem cheaper to be on a slightly higher rate than pay an arrangement fee to another lender. 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.

Focus on any small print. One benefit of re-mortgaging is that you’ll not normally pay for any valuation or solicitors fees, although not everyone qualifies for this. The reason is that it is based on your disposition alone at the time of re-mortgaging. So, please check with your adviser.

A re-mortgage completed on time is a smart way to significantly reduce the cost of your mortgage related bills. Even though a re-mortgage deal is accompanied by various benefits, it might not the best choice for you, depending on your unique circumstances.

  • Based on your specific needs, such as…
  • Mortgage debt is considerably small.
  • The financial disposition is now different.
  • Significant early repayment charge.
  • Home value reduced.
  • You are having trouble with credit.
  • Present rate is very agreeable.
  • We will dispense advice on the merits of pursuing a re-mortgage.

Buy to Let

A property purchased in order to be rented to tenants is a ‘buy to let’. According to the law, 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.

  • You may need to know certain things when purchasing a buy to let property.
  • The loan amount you can borrow is dependent on how much rental income you receive.
  • A payment in respect of an extra 3% stamp duty will be required after 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. A reputable adviser will know just what questions to ask in order to figure out the best mortgage for your specific needs. 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. 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. Many independent brokers usually charge about £500 as a flat fee. 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.

For our fee structure, we charge clients £695; any commission we receive from mortgage lenders is subtracted from that figure 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. 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?

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. A total affordability assessment is required to determine how much a lender will agree to lend; this takes into account your income, any loan or credit card commitments you have, as well as regular 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 an appointment with 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.

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 compare thousands of the latest mortgage deals to help you find exactly what you need.

Request a free quote from Mortgage Saving Experts, your Stanton-St.-John Expert Mortgage Broker

What Our clients say About us

In Stanton-St.-John, we have long and diverse list of satisfied clients. If you doubt that we are the professionals most capable of finding you the best mortgage deal in Stanton-St.-John at the lowest price, check out what some of our customers have to say about their experience with us. Contact us today to get a first-hand experience of the excellent services we provide.

Latest Mortgage News

The more information you have to hand in your search for the ideal mortgage arrangement, the greater advantage you’ll have. Below is the latest insightful mortgage news to help you get started on the right path.

Mortgage Regulatory Information

Banks, building societies and specialised mortgage lenders account for the bulk of mortgage providers in the UK. All in all, there are 200 different financial institutions offering mortgages in Britain, although Lloyds Banking Group and Nationwide Building Society have the largest share of the market.

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).

The professional services of mortgage providers are monitored by the FCA. Strict rules exist that monitor the use of dishonest and misleading adverts and promotions, checking to ensure the terms of any contract for financial services are fair to the customer. As a result of the FCA Mortgage Market review of 2014, the initial regulations set out in the rules for Mortgage Conduct of Business were revamped.

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. If there is something bothering you about your mortgage provider, talking to them about it is the first step to take. 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 Stanton-St.-John. You can reach us by dialling 01273 738 072 today for a friendly chat.

What to Ask Your Stanton-St.-John 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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