There’s a world of information and product availability in the mortgage sector. But not all of it is as easily accessible to the consumer as it should be.
Did you know you can borrow 100% of the security property value? Yes, you might need Mum & Dads help, or another guarantor who may put their property up as collateral or require their income to be used in the mortgage affordability calculation. But it can be done.
Did you know you can borrow up to 85% loan to value on a buy to let? There are now a number of lenders in this space looking to assist those with maximising their mortgage on an investment property.
Did you know we now have lenders in the market with no maximum age limit? Many people think that Equity Release (or interest roll up with no monthly payments) is the only way forward over a certain age. Not so! Lenders will take on board your circumstances, income, assets and liabilities and look to provide a normal mortgage, and possibly interest only, for the right scenario. Terms and conditions obviously apply.
And there are so many more opportunities, if you know where to look for them.
We have had many mortgage customers approach us who have become frustrated in recent times due to local banks or building societies who are unable to see mortgage customers for a matter of weeks. That could mean you lose your dream home in this ’difficult to come by’ property market as agents won’t wait. Or the agent may insist that you see their ‘internal mortgage adviser’ who may only have access to a handful of lenders. Therefore, you may not be offered all the wider market products available to you.
This is where independent and whole of market brokerages come into their own. They will be able to offer you access to a wide selection of lenders, including the high street names, and you only need to have one conversation with the same person. In addition, they should have access to lenders who will manually assess your needs rather than a ‘computer says no’ type scenario, if required. If I can also ‘plug’ a little, we also have access to a number of limited access lenders and exclusive products not readily available to the wider mortgage market! Shop around, seek all your options and make sure your mortgage has the right ‘impact’…