Mortgage Brokers in Three-Bridges, West-Sussex

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. There are various inexpensive, exclusive mortgage deals that a number of mortgage brokers can find for their clients that could possibly reduce the total loan cost. Reputable mortgage brokers communicate how they expect to be paid for their services, as well as outline the details of the entire loan. A mortgage advisor company values ensuring a positive experience for their customers over padding the pocket of a broker.

Save Time & Hassle

Money isn’t the only consideration. While it’s a good thing to save some extra money, your sanity and time matter just as much. Think of the amount of time you’d spend researching 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 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. Major lenders and those not so popular will be compared by your broker to seek out the most suitable deal for you, in terms of lower rates and total cost.

Take some of the work off your shoulders and outsource it to someone who can offer expert advice. 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. These features can make a massive difference to your mortgage experience and overall costs. 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

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

Access to expert knowledge

Helping people secure loans is what mortgage brokers do for a living. 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. If you have an experienced professional who can show you these things, you’ll be at a distinct advantage.
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. For this reason, it’s necessary to find an honest and knowledgeable adviser, with ample experience. Making the process as straightforward and seamless as it can be is something our mortgage experts will do for you. Besides, why complicate things more than necessary? Let us simplify everything for you and ensure we get the best deal possible.

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. All the mortgage and insurance applications we take care of at Mortgage Saving Experts are treated as if we own them. 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 are here to provide assistance! Approximately “Take 15 minutes to talk to 1 adviser and find out about 1000s of mortgage deals.”

Our Team of Three-Bridges 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 are required to justify our reasons for making the mortgage recommendations we do to both you and our regulators, so you can understand why you have the mortgage you have.

Our Approach to Mortgage Advice

We provide personalised services and pay attention to all your specific needs. Three simple steps are taken 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

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 rules and ideas on this are different across various lenders. Being a First Time Buyer is usually not an issue. 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.

Mortgages can seem a daunting process, but they do not have to be. Buying your first home can be exciting, so if you come across a suitable broker who can handle the process for you at a fair price, do take advantage of their expertise. It is abundantly clear why you should use one. 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. It’s the same with mortgages. With mortgage brokers, you can cut down on money, effort and time, so you should use one. There are no charges for the initial consultation.

Your credit is important.

A mortgage is serious issue. Since the subprime mortgage crisis in 2008, banks have trodden more carefully in terms of risking money up front. For mortgage eligibility, good credit helps, but isn’t vital. 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.

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. This is due to the fact that it is based solely on your disposition at the time of re-mortgaging. So, please ask your adviser about it.

Performing a re-mortgage in time is a practical way to reduce your mortgage costs significantly. Depending on your circumstances, it might not be the ideal move for you – even though a re-mortgage arrangement certainly has its benefits.

Buy to Let

A ‘buy to let’ property is one you want to purchase in order to rent out to tenants. 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.

• 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: If you’re looking to buy a second property, you should ask your solicitor/conveyancer to work out the amount you have to pay. 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 see if you’re eligible.

How Much Can I Borrow?

This depends on several factors, such as the deposit value and how much you earn, how many children you have, as well as what debts (if any) you have in the background. What determines the amount a lender will agree to lend is a full affordability assessment. This will help them understand your loan or credit commitments, as well as income and everyday household expenses. 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 an appointment with one of our qualified mortgage experts today. We can provide an initial estimate, without the need for any credit checks to begin with.

Mortgage Regulatory Information

Banks, building societies and specialised mortgage lenders account for the bulk of mortgage providers in the UK. 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.

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 conduct of mortgage providers is regulated by the FCA. Strict rules are in place against using false or unfair adverts and promotions, in addition to checks to ensure the terms of contracts for financial services are fair for the consumer. The original regulations represented in the rules for Mortgage Conduct of Business (MCOB) were reconstructed due to the 2014 FCA Mortgage Market Review (MMR).

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 make sure firms have capital large enough to cancel 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 Three-Bridges. You can do this by dialling 01273 738 072 for a friendly chat.

What to Ask Your Three-Bridges Mortgage Broker?