Mortgage Brokers in Ebernoe, West-Sussex

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 mortgages deals exist on the lower end that can be obtained by a number of mortgage brokers, possibly making the total cost of the loan that bit lower. 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. 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.

Save Time & Hassle

Money isn’t the only consideration. Your time and sanity are just as important as saving a bit of extra cash. Give a thought to the amount of time you’d have to invest when enquiring about various loan types from numerous lenders. You would only have to fill out one application form, instead of one for every lender you have to work with. 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.

Outsourcing the work to someone who can provide an expert opinion is a great way to relieve yourself of the burden involved. A mortgage broker can do a lot of the work by providing you with support throughout the application and approval process. This might involve completing all paperwork, helping you with applications to government schemes, answering questions and explaining the options and loan features, about which you may not have been aware. These features can include drawdown facilities, the option to make extra repayments and offset accounts to name a few. Your general mortgage experience and overall expenses can be largely affected by these features. Better still, if you’re not well versed with these concepts and how they could affect you, your broker can clarify answer questions you may have over the phone.

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. Brokers are knowledgeable and have the much-needed experience to give you a better shot at approval the first time you apply.

Access to expert knowledge

The job of a mortgage broker is to help people secure loans. Helpful information and exclusive deals you won’t find yourself are accessible to them. Loans are attached to subtleties you could easily overlook if you aren’t searching for them. At the end of the day, these subtleties tend to improve your mortgage chances. Having the services of an experienced professional who can point these out for you is a huge benefit.
Rather than putting time aside to research thousands of loans and several lenders – and still possibly miss important subtleties – why not let someone else who has industry experience handle the work? The same way you would contact a plumber to fix a leaking pipe or a hairdresser to work on damaged hair, contacting a mortgage broker is an ideal option for your home loan needs.

About Mortgage Saving Experts

Mortgages and insurance are not as complex as they seem at first. Finding an adviser who is reliable, knowledgeable and has significant experience is very important for this reason. Our mortgage savings experts will make your task as easy and straightforward as possible. Why make things harder than necessary, after all? Allow us to ease the entire process and obtain the best deals available for you.

Mortgage Saving Experts provide our clients with honest and transparent services that leave you feeling mortgages and insurance are less complicated than they first appear. At Mortgage Saving Experts, we treat each mortgage and insurance application as if it were our own. 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. We’re here to help! Fundamentally “Get information about 1000s of mortgage deals by taking 15 minutes to speak to 1 adviser.”

Our Team of Ebernoe 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 must justify to our customers and regulators why we make the mortgage recommendations we do, so you know just why you have that mortgage.

Our Approach to Mortgage Advice

Your individual needs will be duly considered, as we provide fully personalised services. We take three basic steps in our approach to mortgage advice:

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

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.

For each lender, the rules and ideas about this differ. Normally, being a First Time Buyer is no issue. To qualify for stamp duty relief as First Time Buyers, you must have never owned a property before, anywhere in the world.

Mortgages may appear to be a rather difficult process, but they really 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. Why you should use one is pretty obvious. Besides, if your car breaks down and you have no knowledge of cars, you wouldn’t attempt to fix it yourself; you would use the services of a mechanic. With mortgages, it is exactly the same. Mortgage brokers can help you save money, time and effort, so why don’t you use one? There are no charges for the initial consultation.

Your credit is of great importance.

A mortgage is a major issue. The banks risk a lot of money and have been increasingly cautious since the subprime mortgage crisis in 2008. Qualifying for a mortgage is boosted by good credit, but it isn’t compulsory. 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. In addition to assisting you with the purchase of your dream home, we will also help with financing at minimum cost and the most agreeable mortgage available.

Take extra caution. A notable benefit of re-mortgaging is the absence of solicitors or valuation fees, even though some people are not eligible for this. This is because only your circumstances are considered at the time of re-mortgaging. So please check or ask your adviser.

Performing a re-mortgage in time is a practical way to reduce your mortgage costs significantly. Depending on your specific needs, a re-mortgage deal might not be the best option, even though it does have its advantages.

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. 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.
• You’ll have to pay an extra 3% stamp duty on top of 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. A knowledgeable adviser will help find the right mortgage to suit your requirements by asking you the relevant questions. Get in touch with our advisers to find out if you qualify.

How Much Can I Borrow?

A lot of factors influence this, like the number of children you have, the deposit amount, your income and any debts you might have in the background. 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. Other than this, they will also carry out a credit check to ensure you have an agreeable credit rating for mortgage purposes.

For a more accurate idea of how much you can borrow, get a decision in principle before you apply for a mortgage in full. Make plans today for an appointment with one of our capable mortgage experts. Without the need for credit checks, we can at least provide an initial estimate.

Mortgage Regulatory Information

In the UK, most mortgages are provided by building societies, specialised mortgage lenders and banks. In total, there are roughly 200 financial institutions that provide mortgages in Britain, even though the biggest share of the market is owned by Lloyds Banking Group and Nationwide Building Society.

Although banks and building societies have always been closely regulated in the UK, the former Financial Services Authority (now the FCA) implemented a regulatory scheme specifically for mortgages as a result of the Financial Services Act of 2000.

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. 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.

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 ensure firms have adequate capital levels to balance out their lending risks. If you have a complaint about your mortgage provider, the first step is to take up the matter 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 Get in contact with the Mortgage Saving Experts in Ebernoe. You can do so by calling us on 01273 738 072 for a friendly conversation.

What to Ask Your Ebernoe Mortgage Broker?