Near enough everyone, at some point will realise the fact that buying a property is a road to venture down. Owning your own property has its advantages, historically we can see that properties only really seem to go up in value! An important old question seems to be; “if I rent, am I only paying off my landlord mortgage?” Answer in a nutshell; YES! So, for those who are applicable a mortgage is definitely a path to go down, unless you have 300k in your bank.
In the first instance, you will probably go your local High St and visit the bank / building society where you have a saving account or where your wages are deposited monthly, in turn they will book you an appointment with the branches “mortgage advisor”. When you finally get the appointment, they will try and sell you a mortgage from their own limited list of products, even if the product isn’t completely right for you!
The same can be said for all High St lenders, typically High St lenders only advise on banks product only so for example if we look at Barclays, Natwest, Halifax, Woolwich, Santander or HSBC, each will have their portfolio of products, however none of them will recommend each other’s product, Basically, if you wanted to find the best rates on the High St you would have would have to speak to each of them individually, this can lead to a host of painstaking questions and a mind melt which you might not even want to entertain.
When we talk about brokers who is whole of market, the whole mortgage exercise becomes less flatulent. A broker will probably interview you once, saving you bags of time, they are perfectly positioned to match you up to the best possible product based on your needs.
Most brokers have access to the whole of the market; and can therefore give you options from the traditional to the unconventional. They can assist people who are self- employed and even people with poor credit.
In certain instances, Brokers could even secure more lending then the High St lenders would offer, typically the banks / building societies lend 4 - 4.5 times whatever your income is. Brokers can achieve lending through second charges also.
Brokers can secure mortgages that are geared a lot higher from lenders that aren’t on the High St. One of our lenders has recently given us preferential lending terms where they offer lending of up to 6 times your income at 2.94% (2 year fixed) which can prove decisive when making the choice of going for a mortgage or not!
Give us a call on 0333 339 0038 and one of our experts carefully assess your circumstances.
Here at Revolution Finance Broker, we are independent brokers, our affiliation is with no one lender, our advice is based on your needs. Before we speak to any lenders will we fully understand your situation and based upon that we will secure the best possible products, at the best possible rates. We are one of the best commercial finance and residential brokers in Essex, Kent, London and Hertfordshire.
