Mortgage Brokers in Upwaltham, West-Sussex

What is a mortgage broker?

A mortgage broker is sometimes considered a middle man who brokers loans in favour of people or businesses. Mortgage brokers strive to find a bank or direct lender that will agree to meet the particular loan an individual requires.

Working with a mortgage broker in Upwaltham will help you get the mortgage loan you require at a favourable deal, without any unnecessary stress. Even with complicated circumstances or a poor credit score, the ideal mortgage broker will boost your chances of getting a mortgage.

There are regulations in place to guide professional mortgage brokers and make sure they adhere to banking and finance laws in the jurisdiction of customers, so you can be sure you’re in good hands.

Handy Tools and Calculators

Knowing how much you can borrow – as well as the cost of the loan – will help make planning your future easier. Take advantage of this handy calculator to determine exactly how much your mortgage repayments will be, based on your total loan figure 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 with a mortgage broker for your mortgage application in Upwaltham can be beneficial in various ways. Some of the most obvious of these benefits are:

Save Money

The possibility of saving money is the most obvious advantage of working with a mortgage broker. You’ll be required to complete a few details, but the hard work is managed by an experienced professional, who has your best interests in mind.

With limited understanding on the concept of mortgage brokers, some people don’t fully trust this, believing there must be a catch at some point. 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.

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 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. Reputable mortgage brokers will usually inform you how they get paid for their services, as well as disclose the details of the entire cost of the loan. Positive user experience is much more valuable to a mortgage advisor company than padding out an individual broker’s pocket.

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

Finds The Most Advantageous Deal

Your interests – and not those of the lending institution – will be represented by the mortgage broker. Not only should the role of being your agent be their focus, they also need to be knowledgeable consultants and problem solvers. For terms like interest rates, repayment value and loan products, you can get the best possible value from a broker, who has access to a wide array of mortgage products. You’ll be required to meet with the mortgage broker to document your needs, as well as your short and long term goals. Simple 30 or 15-year mortgages are not sufficient in many cases, which is why innovative mortgages and sophisticated solutions are distinct benefits of working with experienced brokers. These include mortgages to raise capital for repaying debts, money for marital needs or children, home renovations or the purchase of other properties such as buy to lets.

Has Flexibility Expertise to Meet Your Needs

A mortgage broker will work with the client in any situation, as well as manage the process and take care of any bumps in the road that may occur. For instance, brokers would know the lenders that can make available the best products for clients with credit issues. A broker will be beneficial in providing the necessary knowledge to source financing if a borrower requires a loan that’s larger than the bank would normally approve.

Save Time & Hassle

It’s never 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. With a mortgage broker, you’ll only need one application, rather than completing forms for each individual lender. 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. To find the best deal in terms of lower rates and overall cost, your broker will make comparisons between popular and less popular lenders.

By outsourcing, you can reduce the workload and get someone else’s professional 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. Drawdown facilities, offset accounts and extra repayments (to name a few) are just some of the features involved. 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. Contacting a broker will unlock these extra benefits you would miss out on if you were to approach the bank yourself.

A bank can only sell their own deals – not those of the other banks as well – whereas a broker can search the whole market for the best deal.

Better chance of pre-approval success

If your request for an Agreement in principle/Decision in principle of a loan is turned down, a mark is left 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

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. Loans are attached to subtleties you could easily overlook if you aren’t searching for them. In the long run, subtleties like these are significant to your mortgage. Having the services of an experienced professional who can point these out for you is a huge benefit.
Instead of taking time out of your day to research thousands of loans and multiple lenders – and still potentially missing key subtleties – why not hand the work to someone who’s experienced in this industry? 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. 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. After all, why make things more difficult than they need to be? Let us make things easy for you and make sure we find you the most suitable deal.

You’ll be left thinking that mortgages and insurance are not as difficult as they appear, because of the reliable and transparent service Mortgage Saving Experts provide our customers. At Mortgage Saving Experts, we handle every single mortgage and insurance application like they belong to us. We’re all about this. Mortgage Saving Experts are here, no matter what the circumstances, whether you’re a landlord, first time buyer, moving on to a new chapter or just re-mortgaging. We’re here to help! Essentially “Search up to a thousand mortgage deals by talking to an adviser for roughly 15 minutes.”

Our Team of Upwaltham 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 you and our regulators why we recommend the mortgages we do, so you know exactly why you have the mortgage you have.

“Down to Earth Mortgage”

We are an honest, enthusiastic and passionate team of mortgage insurance experts, with years of industry experience.

Your current and future goals will be identified by our mortgage insurance experts after talking with you. To achieve these objectives, we will then work hand in hand with you.

Why chose Mortgage Saving Experts?

When you take out a mortgage, you’ll be subject to an initial rate for the first few years. 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. Here are some of the other advantages you’ll enjoy if you work with us:

  • You can save extra cash, because you’ll get a preferable deal to the bank variable rate.
  • You won’t have to remember when the deal is due to end, as we will do this for you.
  • You can take time to relax, while we handle the stress for you.
  • This is our area of expertise; you’ll always receive advice from a qualified mortgage expert.
  • We undertake comparisons and then advise and arrange the best mortgage for you, choosing from thousands of deals.
  • You’ll receive expert advice and support throughout the entire mortgage process.

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

How Mortgage Saving Expert Brokers Can Help you:

Our services are more remarkable than those of other mortgage brokers in Upwaltham because:

  • Use fact-finding to properly understand your individual needs.
  • Explain what costs buying and selling involve.
  • Request all documents related to the application.
  • Propose and explain the likely mortgage.
  • Proffer replies to any questions you might have.
  • Obtain an agreement in principle.
  • Have your full mortgage application submitted.
  • Communicate with your solicitor, mortgage lender and estate agent to respond 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 offer expert advice on a wide variety 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

First Time Buyers are classed by most mortgage lenders 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. In order to qualify for stamp duty relief, it’s necessary for First time Buyers to have never been property owners before; this applies anywhere in the world.

Mortgage processes may look tough to negotiate, but they really don’t need to be. The prospect of buying your first home comes with a lot of excitement, so if you manage to find a competent broker who can oversee the process at a reasonable price, then go right ahead. 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. The initial consultation will cost you nothing.

Buying a home

If you’re thinking of a home purchase any time soon – or even within a couple of years – you should familiarise yourself with everything involved with mortgages. 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 would rather avoid any stress, speak to an adviser, who will guide you accordingly.

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. 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 won’t just facilitate the purchase your dream home, we will also help you fund it with the lowest cost and most favourable mortgage deal on offer.

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. The two of them don’t have to 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. You may find it’s more practical to go on a slightly higher rate, without paying arrangement fees to any lender. Asking for advice before making up your mind about the deal is important, so that you don’t end up with a more expensive deal on the whole, even at a lower rate.

Focus on any small print. 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 check or ask your adviser.

A brilliant way to ensure you cut down on your mortgage bills is to re-mortgage on time. While a re-mortgage deal can be beneficial for some, it’s not the best move for everyone, as it all depends on your unique circumstances.

  • Based on your specific needs, such as…
  • Mortgage debt is relatively small.
  • The financial situation is no longer the same.
  • Costly early repayment charge.
  • Home value reduced.
  • You have credit problems.
  • Present rate is very agreeable.
  • We will advise you whether to re-mortgage or not.

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. If you’re purchasing a buy to let as a First Time Buyer, the number of lenders available will be restricted and there will be extra checks carried out by the lender in such cases.

  • You may need to know certain things 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.
  • You will have to pay 3% stamp in addition to 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. To help determine the most suitable mortgage to meet your needs, an expert mortgage adviser will know the specific questions to which you will need to provide answers. To see if you’re eligible, reach out now to our advisers.

How Much Do Mortgage Brokers Charge?

A percentage of your mortgage loan is paid as commission to many mortgage brokers by lenders. This is usually around 0.33%, although this does vary massively, depending on what mortgage you require. For example, this would take into account buy to let or residential mortgages and whether you’ve had any credit problems in the recent past. The majority of independent brokers typically charge a flat fee of around £500. Be sure to find out from brokers how you pay them. They must be completely clear, letting you know the exact figure and fee structure in place.

We have a fee structure based on charging our clients £695. From that figure, we then deduct any commission received from the mortgage lender If we are paid a commission less than £695, the client is then asked to pay the necessary difference to top it up to £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 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. 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.

For a more accurate idea of how much you can borrow, get a decision in principle before you apply for a mortgage in full. 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.

The Latest Best Mortgage Rates

Our services are available whether you want to re-mortgage, move home, purchase a buy to let or procure a first-time buyer mortgage. 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 Upwaltham Expert Mortgage Broker

What Our clients say About us

The list of happy clients in Upwaltham is a lengthy and diverse one. If you’re still not sure that we are the experts to get you the most suitable mortgage deal in Upwaltham at the most affordable price, check out some of the things our clients have said about working with us. Reach out to us today for a personal experience of how effective our services are.

Latest Mortgage News

The more information you have to hand in your search for the ideal mortgage arrangement, the greater advantage you’ll have. The latest mortgage news below will provide the insight you need to properly get started.

Mortgage Regulatory Information

Most mortgages in the UK are provided by building societies, banks and specialised mortgage lenders. There is a total of 200 different financial institutions which offer mortgages in Britain, although Lloyds Banking Group and Nationwide Building Society owns the market’s largest share.

Due to the Financial Services Act 2000, a regulatory scheme specifically for mortgages was implemented by the former Financial Services Authority (now the FCA), even though close regulations have always been in place to guide banks and building societies in the UK.

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. 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. The first step in tackling any issue you have with regards your mortgage provider is to take it up with them. If you feel it hasn’t been dealt with to your complete satisfaction, there is a complaints procedure which can be 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 Reach out to the Mortgage Saving Experts in Upwaltham. You can do this by dialling 01273 738 072 for a friendly chat.

What to Ask Your Upwaltham 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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