Mortgages

Trusted, down to earth mortgage advice.

We understand how confusing mortgages can be and we are here to make sure you understand the products and process for your peace of mind. You will be seen by one of our fully qualified advisors who will guide and advise you on your options.

Once your needs and requirements are determined and a mortgage is found, your case will be handed over to one of our case managers in the office who will be on hand for any queries you have and will ensure the smooth running of your mortgage. From initial advice to completion we will offer a first class service with full support and guidance along the way.

Contact a Mortgage Adviser

Mortgages

Trusted, down to earth mortgage advice.

We understand how confusing mortgages can be and we are here to make sure you understand the products and process for your peace of mind. You will be seen by one of our fully qualified advisors who will guide and advise you on your options.

Once your needs and requirements are determined and a mortgage is found, your case will be handed over to one of our case managers in the office who will be on hand for any queries you have and will ensure the smooth running of your mortgage. From initial advice to completion we will offer a first class service with full support and guidance along the way.

Professional and Specialist Advice;

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Expand your existing portfolio or get started as a first time landlord, we're here to help.

Guidance to getting yourself in the best possible position prior to your mortgage application.

Advice on options available should you find yourself with poor credit.

If you're 55 or over you may be eligible for these capital raising options.

Your mortgage journey.

We look forward to working with you, here's what to expect;

Fact Find

Initial enquiry and information gathering in preparation for a mortgage.

Mortgage Offer

Following successful valuation and underwriting, your mortgage offer will be released.

Research

Broker researches suitable options and provides mortgage quote/ illustration to you for your approval.

Legal Work

Your appointed solicitor will complete the legal aspects of purchasing the property i.e. property searches.

Application

Application and supporting documentation submitted to appropriate lender following a successful 'Decision in Principle'.

Exchange set

Exchange of contracts takes place and at this point you become responsible for insuring the property.

Valuation

Valuation on property completed for lending purposes to ensure property is acceptable by the lender.

Completion

Money exchanges hands and if you're purchasing a new property then today is when you pick up your keys.

Your mortgage journey.

We look forward to working with you, here's what to expect;

Fact Find

Initial enquiry and information gathering in preparation for a mortgage.

Research

Broker researches suitable options and provides mortgage quote/ illustration to you for your approval.

Application

Application and supporting documentation submitted to appropriate lender following a successful 'Decision in Principle'.

Valuation

Valuation on property completed for lending purposes to ensure property is acceptable by the lender.

Mortgage Offer

Following successful valuation and underwriting, your mortgage offer will be released.

Legal Work

Your appointed solicitor will complete the legal aspects of purchasing the property i.e. property searches.

Exchange set

Exchange of contracts takes place and at this point you become responsible for insuring the property.

Completion

Money exchanges hands and if you're purchasing a new property then today is when you pick up your keys.

FREQUENTLY ASKED QUESTIONS

We've got A's for your Q's

How long can my mortgage last for?

Typically, you can choose to have your mortgage last for a term that takes you up to your 70th birthday although this can vary slightly from lender to lender. However, most people don't like the thought of still being tied into a mortgage up until that age and will opt for a shorter term that still fits within their affordability. On average, we see most clients opt for a term of around 25 years.

Can I pay off my mortgage early?

If you find yourself in a position of being able to pay your mortgage off early you can of course do so. However, it's worth checking your current plan for any Early Repayment Charges (ERCs) to make sure 1) there are no nasty surprises and 2) that it's definitely in your best interest to do so.  

What happens if my circumstances change and I'm struggling to pay my mortgage?

The first thing to do is contact your mortgage lender as soon as you realise you're in financial difficulty. Making them aware of situation gives them a chance to find a suitable solution for you both. This could be temporarily lowering your rate, giving you a temporary repayment holiday whereby you make no payments for an agreed length of time or switching you to a new product if appropriate. We know how stressful it is to find yourself in these circumstances, we've put together a short article here that you may find useful.  

How long should I fix my mortgage for?

This will depend on your current circumstances and your future plans. When it comes to fixed mortgages, it's important to consider how long you wish to stay in that property and to not fix the mortgage beyond that point or risk being hit with an early repayment charge.

What is 'LTV'?

LTV in the mortgage world means 'Loan to Value'. It is a ratio term based on what percentage of the property value is being loaned as a mortgage. For example, if you were purchasing a property worth £400,000 and needed a mortgage of £200,000 your LTV would be 50%.  

How do Early Repayment Charges work?

ERC policies very from lender to lender and product to product but can be broadly described as a penalty lenders charge if you overpay or pay your mortgage off in full outside of the agreed terms. You'll be able to view your specific ERCs on your mortgage offer document. Most commonly, ERCs work on a tiered system whereby you'll owe a fixed % if you repay in the first year, a lower % if you repay in the second year and so on.  Typically, you'll be looking at a charge of around 1-5% of the total amount being paid.

What will happen to my mortgage if I want to move house?

If you want to move house before your mortgage deal expires, you may be able to 'port' your mortgage to avoid ERCs. Porting your mortgage simply means moving your existing mortgage over to your new property. In theory, the ability to port seems to offer great flexibility however there are no guarantees that the lender will allow it or if it is actually a suitable option for you.

Absolutely couldn't recommend Need Financial Planning enough. Dedicated to finding you exactly what you need in a friendly, approachable and professional manner. Nothing is ever too much for them. They keep in contact with you every step of the way and make sure that no additional help is required throughout the entire process. They are happy to explain everything and anything, ensuring that you are completely aware of every step of the process (I had absolutely no clue so they had to start at the very beginning!) I will be recommending them to everyone and anyone and certainly wouldn't take my business anywhere else.

- Catherine Ward