Mortgage

Even seasoned home owners can find buying a property a complicated and confusing experience, particularly as it’s something most of us only do occasionally during our lifetime. So why should you speak to an Independent Mortgage Adviser before anyone else?

For first time buyers, the process can be even more baffling, so they need a professional, independent mortgage adviser, on their side. 

Although it was a few years ago now, I still remember the initial excitement of buying my first home.  I also remember the stress, worry and anxiety that went with it, which is why I absolutely believe it makes sense to talk with an independent mortgage adviser before even thinking about looking at houses! This applies to anyone, whether you’re a first timer, home mover, or buying a property for investment. It’s important to understand what’s currently happening in the mortgage arena.

We can help with more than just the mortgage

For me, and my fellow advisers at Temple Mortgage, it’s more about forging a two-way relationship (which doesn’t end once the mortgage starts but continues for many years as your life and circumstances change). We will work together on your current situation, finding out where you want to get to and help you to devise a plan and a timescale to get there.

Most advisers go that extra mile and offer practical advice too – I for one wished I had someone like this back in 1992, as I had so many questions. It’s one of the reasons my Financial Services career moved in this direction! Additionally, having access to the whole of the marketplace puts you as the buyer in a better, more informed position all round.

Using an independent mortgage adviser can save time and a lot of stress!

Lots of things can impact on borrow-ability including salaries, employment status, how long you’ve been employed/self-employed, credit commitments, credit status, and age, among other things. We can help you work out who to go to which can be a time-consuming process.  An independent mortgage adviser will recommend a lender from the whole of the market to achieve the best mortgage based on your specific circumstances.

Apart from advising and arranging on the mortgage itself, our services tend to go a lot deeper than just a transaction as the needs and understanding of mortgages can vary from client to client. An experienced mortgage adviser will pitch the advice at the right level, ideally before a property has been found.

How an independent mortgage adviser can help you…

A mortgage adviser can help in many ways, but some in particular include advice on:

• What a mortgage is and the house buying process. It needs to be explained in plain English by someone who has the knowledge, but more importantly, empathy! 
• How much can be borrowed, which I call ‘mortgageability’. It’s not just a case of walking into the local bank and they lend the money! It’s competitive out there, some lenders may not be as competitive as another, or their lending policy may mean they won’t lend at all.  This could cost you both time and money, and trying several different lenders has its own implications
• The Help to Buy scheme and the additional factors that need to be considered with this
• Reducing your outgoings and advice on what lenders will look for when assessing mortgage applications to be in the best position possible to move forward when a potential home is found
• Saving for a deposit (including government bonuses such as the Help to Buy scheme) and advising on ways to boost your savings
• The likely costs involved – solicitors, surveys, arrangement fees etc
• What information lenders will need so it’s readily available, and if not, there is time to facilitate this
• How credit scores affect borrowing and ways to improve it, if necessary
• Making an offer on a property and negotiating with the Estate Agent
• Recommend other professionals to help such as a solicitor, surveyor or Estate Agent, if you don’t already have one
• Be there when it gets frustrating and understand the stresses involved
• What happens at each stage of the process and keeping all parties informed – effective communication is a fundamental part and can help the wheels run more smoothly.  Who does what and why! 

In a nutshell, using an independent mortgage adviser can make life that little bit easier. Having a professional overseeing the process with the lender, estate agent and solicitor, will leave you to concentrate on the more enjoyable side, such as looking at furniture or planning your new kitchen!

To find out how we can help you, whether you are a seasoned home owner, or you are looking at saving for and buying your first house, contact Diane Blackman by email diane.blackman@templemortgage.co.uk, call Temple Mortgage on 01305 213150 / 07977 467117, or send us a message on our Contact Us or Diane’s Facebook page.

Your home may be repossessed if you do not keep up repayments on your mortgage.