1. Expertise: A mortgage advisor is a professional who is trained and experienced in the mortgage industry. They can help you navigate the complex process of applying for a mortgage, and can provide valuable advice on which mortgage products might be the best fit for you.
2. Time-saving: Applying for a mortgage can be a time-consuming process, as it involves gathering and organizing a lot of documentation, filling out forms, and communicating with lenders. A mortgage advisor can handle much of this work on your behalf, freeing up your time to focus on other priorities.
3. Objectivity: It can be difficult to remain objective when shopping for a mortgage, as there are many options available and it can be tempting to focus on the lowest interest rate or the largest loan amount. A mortgage advisor can provide an unbiased perspective and help you consider all of your options.
4. Access to a wider range of products: Mortgage advisors often have access to a wider range of mortgage products than are available through a single lender. This can give you more options to choose from, and may increase your chances of finding a mortgage that meets your needs.
5. Guidance through the process: Applying for a mortgage can be a stressful process, and it can be helpful to have someone to guide you through the process and answer any questions you may have. A mortgage advisor can provide this support and help you feel more confident about your mortgage application.
The biggest advantage is Mortgage One covers the"Whole-of-market" - all UK Lenders, so we can find the optimal rate for your specific circumstances.
Our job is to know who they can lend to, what they will approve and what they won't - to fit your criteria.
We then do the arrangement, collation of paperwork and documents for you.
Initial consulations are 100% Fee Free. If you proceed a transparent, fair and comprehensive quotation will be sent to you.
Lenders and banks require independent and unbiased agents to distribute their mortgages.
For them to pay an external agent a modest fee per successful application is more cost-efficient than hiring, training and managing in-house Brokers who are then constricted to just that Bank or Lender's own products.
It's pretty much limitless with "how much" you can borrow for your home loan, and in some scenarios, you may be able to borrow up to 85-90% of the property value. However, to avoid complications, expenses and risks, we would recommend a deposit of at least 25% of your property’s purchase price. As an example, for a £400,000 home loan, an £100,000 deposit is ideal and you will pay less interest. It’s a balancing act which we will guide you through so you have an affordable Mortgage and a great home.
Yes, you can directly approach any bank to discuss your home loan needs, perhaps a new bank or the one you keep your accounts with.
However, there are 92 Lenders in the UK (and some International ones), approaching all of them to compare their deals can a long time. We have direct feeds from them all. We are legally obliged to find the best deal for your circumstances. We also have to fill out massive Compliance Forms to prove this.
Most people will choose one of three types of Mortgage:
Repayment Mortgages - where you repay the Principal plus Interest.
Interest Only - you just repay the Interest and at the end of the Mortgage (say 20 years) still owe the Original Amount
Buy-to-Let Mortgages - You buy a Property, rent it out and and use the Rental Income towards paying the Mortgage.
We are closely regulated by the FCA. Legally we have to find the most suitable and best Mortgage deal for you. We then build and document full justification for your specific case which has to be able to hold up under FCA scrutiny.
That justification is then kept securely archived.
Mortgage One is a trading style of BB Financial Services Ltd which is regulated by the Financial Conduct Authority.
We have assembled some initial Survey Guidance here.
Please note this is for informational purposes only and you are responsible for your own actions taken pertaining to Surveys.
We can review your circumstances and advise you on the best strategy to unlock funds from your property. Certain Lenders have age perameters for some products.