If you are looking for an experienced Mortgage Advisor in Coventry, look no further than Matthew James Property Services.
Matthew James has the best professional mortgage brokers in the business, and they’re ready to help you find a loan that is right for your needs.
We work hard and are authorised and regulated by the financial conduct authority.
This blog post will cover everything you need to know about Mortgage Broker / Advisors in Coventry.
What Is A Mortgage Advisor / Broker
A mortgage advisor is an essential person in getting a loan in the home buying process. All brokers working in financial services are authorised and regulated by the financial conduct authority.
They work for you and will help explain anything that might be confusing.
When buying a house, working with a professional mortgage advisor can save you time and money.
Mortgage brokers and independent mortgage brokers will be fully qualified and know the mortgage market.
When customers use a broker in a local estate agency, you will have the added benefit of getting help in buying a property and finding the right mortgage for you.
A broker will search the whole market and recommend the best mortgage deals for people like yourself.
It makes no difference if you are a first-time buyer or you are a homeowner looking to remortgage. They will know the latest interest rates on loans and down payment amounts needed based on your income level.
How much can I borrow
How much you can borrow will depend on several things. Fully qualified Mortgage advisers in Coventry CV1 apply Mortgage criteria to applicants and look into your financial situation.
Mortgage financing rates are available from a wide range of companies offering Mortgage services. In addition, they will have access to different Mortgage deals with varying features like income protection insurance etc.
It is important to remember you must be able to afford a mortgage, and failure to keep up repayments may result in your home being repossessed.
How Do I Choose The Best Mortgage Product?
When comparing the different Mortgage services and market rates in Coventry, it is crucial to consider the various features and products.
In addition, it would help if you compared the prices and direct deals available to you.
You want to make sure you get the best advice and deal there is, as this could ultimately save you money.
Additionally, mortgage lenders will offer you a range of different loans with varying Mortgage terms and conditions.
Hence, it is essential to compare them all before making your final decision. You can check local advisors reviews and ask family and friends for recommendations.
Using a mortgage repayment calculator will give you a rough idea of your repayments, including any early repayment charge from your existing lender.
Suppose this is your first mortgage or first time using a mortgage calculator. In that case, it is still worth doing as it will give a rough idea of repayments on your mortgage and the costs involved and a view of the sort of mortgage offers professional advisors may be able to arrange.
We still recommend talking to a professional independent mortgage advisor.
You can compare the different Mortgage options available to understand which one is right for you. However, you do not want to get this wrong, as your home may be repossessed when you do not keep up with the repayments on your mortgage.
First Time Buyer Coventry
If you are a first-time buyer and looking to buy your first home in Coventry CV1, it can be complicated to know where to start.
As a first time buyer, you generally do not know the ins and outs of the mortgage financial services industry, which is understandable.
First of all, if this is the case for you, then congratulations, it’s an exciting time!
You will defiantly need a professional advisor to guide you through the process. You may even want to consider mortgage protection insurance as a first-time buyer.
But, again, having an independent financial advisor to deal with could save you time and money.
It can be a minefield, and you will defiantly want to talk and work with someone who knows what they are doing, and it’s even better if they’re local.
Also, different schemes will vary in rules and criteria, so make sure you read the small print before signing anything.
Homeowners may choose to remortgage for various reasons, usually to reduce the monthly mortgage payment amounts.
Or to be able to borrow money for any home improvements.
However, it’s also possible that homeowners will want lower repayments or to pay off their mortgages sooner than expected and get some extra cash by selling equity and consolidating other more expensive debts, such as credit cards.
Buy to Let Coventry
If you are looking for a property as an investment rather than somewhere you live, you will need to look at buy-to-let mortgages.
Unlike financing with the standard residential mortgages that most people get when arranging their first mortgage – buy to let mortgages.
Again it’s always worth talking to a professional independent mortgage advisor about buy to let mortgages and doing your homework about what deals are available and the overall process in general.
Right to Buy Coventry
The right to buy scheme is a program that offers eligible council and housing association tenants in England discounts on their homes.
The value varies depending upon the region but can be up to £112,800 (£84,600 outside London).
If you’re interested in finding out if this opportunity could apply for your situation or how much of a discount you are qualified for, then get started by checking whether your area qualifies here or chat with our mortgage advisers!
Self Employed Coventry
A mortgage that allows the self-employed to provide their earnings in an annual certification process is no longer available.
This means those looking for a home loan should follow traditional channels and apply like everyone else, additional documentation about income levels is now necessary.
Self-certification mortgages were banned entirely in 2014.
Help to Buy Coventry
More often than not, mortgage deals for Help to Buy are more competitive and offer lower interest rates.
However, it’s always a good idea to shop around when looking for the right mortgage deal by comparing lenders and prices – with an eye out on whether or not this is your best option!
A specialist mortgage is an individualised loan and is not for everyone. A lender will need a more in-depth assessment of your finances before approving any borrowing with these types of loans, typically geared towards people who don’t have perfect credit scores or work as self-employed professionals.
6 Questions You Should Ask Your Mortgage Advisor
- Are you a licensed broker?
- How much money do you want?
- What is the most money I can borrow?
- How much money will I need to make a deposit?
- What kind of mortgage should I have?
- What Fees Will I pay?
What Are The Different Types Of Mortgage Broker?
Tied Mortgage Brokers
Most Mortgage Brokers who fall into this bracket are closely tied (potentially even employed) by one or a group of lenders. Of course, there are positives and negatives to this, but there’s also the chance you’ll be offered exclusive deals and discounts!
Tied or multi-tied mortgage broker: These providers only work with a single lender or a select few lenders. The market advisors have a much broader view of the lending landscape and look at all available loan products.
Independent Mortgage Broker
Your mortgage is a significant decision, and you should not be left to navigate the complex waters alone. You need an independent mortgage adviser who can help sort through your options with competence to find the best available deal for your needs.
How Will I Know What Type Of Mortgage Broker It Is?
The best way to find a broker is through referrals from family, friends and your local estate agent. But don’t just take their word for it – do some homework when selecting the right one by reading online reviews and checking with the mortgage advice Bureau.
How Much Will A Mortgage Broker Cost?
Typically, a fixed fee mortgage broker cost will range between £300-£600, with the average price in the UK currently sitting at £500, according to the Money Advice Service.
Financial Conduct Authority
What does The Financial Conduct Authority Do?
A fair, honest market works for all parties involved.
The financial conduct authority is committed to making markets work well by ensuring independent mortgage Advisors, consultants and brokers.
Hence, the access to quality products at an affordable price; businesses can compete on a level playing field without being disadvantaged because of unfair practices like waiving commissions for big trades.
Economies as a whole receive stable growth in both employment rates and income levels due to increased productivity caused when there’s competition between suppliers rather than collaboration.
The 6 Benefits Of A Mortgage Advisor
1. Save your money
Most mortgage brokers will give you the available mortgages for your needs. This isn’t just a case of looking for low-interest rates or any specific kind (lowest fixed rate, cheapest tracker).
A skilled and experienced broker can look beyond these aspects to consider all other fees involved with every deal.
What may seem like competitive offers when one element is evaluated could turn out not to be so great after everything else has been taken into consideration, which means it pays off more than ever before to work with professional independent mortgage advisors who know what they are; doing!
2. Save you time
An Advisor provides a wealth of knowledge when it comes to your situation. They can help you find the right mortgage loan for you and ensure no problems when it goes through for approval!
An independent mortgage consultant in Coventry has extensive knowledge and expertise that allows them to guide clients through this often confusing process; they know which mortgage services you need, as well as what bundling options work best in different situations.
For example, if someone wants an adjustable-rate because their income may fluctuate yet still have some stability, then talking about these types of mortgages is essential. You don’t make any costly mistakes.
3. Give you access to a broader range of mortgages
A mortgage lender will not only have a much better idea of what is available to you, but they also can find the best rates and terms for your needs.
A mortgage lender offers only their products, limiting an individual’s options; however, when working with an independent mortgage broker who has access to many different lenders, there is no limit as long as you’re willing!
4. Give you expert financial advice
Mortgage brokers have to be qualified, and licensed professionals and are regulated by the financial ombudsman (FCA) and registered in England. So you know that they’re giving you the best advice possible.
5. Take care of the application paperwork
Working with an independent is the perfect choice for anyone looking to buy a home in Coventry in today’s competitive market!
They’ll take care of all those tedious mortgage industry paperwork and jargon, ensuring that your new mortgage offer goes as smoothly as possible – saving you time and money on hidden fees too!
Because they’re experts at what they do, most people will only be asked to send them their documents or provide signatures once everything else has been prefilled by the team; which means more time spent getting ready for the move-in day instead of doing mundane tasks like filling out forms (which can get pretty dull)!
The world of mortgages might seem daunting but working with expert staff who know the process can be a gamechanger.
6. Know which lenders will process your application the quickest
Although a mortgage application should never be rushed, sometimes speed is of the essence. Brokers deal with providers all day long.
They know which provider to go to if you need speedy results and how best to make sure your application moves through smoothly without any delays or setbacks along the way.
There’s a fine art to getting a mortgage application processed. First, you need to know how to spot delays and where, when and who to call with timely information or encouragement to speed things up without inadvertently causing issues and further delays.
Mortgage Advice Coventry
When looking for mortgage advice, it is properly because you are looking for a loan to make your dreams come true.
However, mortgage loans in Coventry can be challenging, which is why you need a professional with years of experience at your side.
At Matthew James Property Services in Coventry, we want to ensure that our clients get the best deal on their mortgage, and we only use touch with high-quality lenders.
We utilise our wealth of knowledge and experience within the mortgage industry.
First, we help you by finding out your situation or simply providing general advice on how things work; there is no task too big!
Whether you’re a First Time Buyer or an established homeowner and want to move into a new property but are not sure which type of mortgage will be the most suitable for your needs, we can help you with a free consultation!
As full-service Estate Agents, we offer a range of mortgage services and can offer the best advice on how best to proceed when looking at properties.
At Matthew James Property Services, we offer Free Mortgage advice and aim to get you ahead in the game and help make this life-changing decision go as smoothly as possible for you and your family in Coventry.
Mortgage Advice At A Time That Suits You!
Need Mortgage Advice at a time that suits you, no problem, we can do that.
Our Mortgage Advisors will be working on your behalf, all you have to do is get in touch with us through an email or contact form, and we’ll come back to you as soon as possible.
We are open late, and you can arrange a convenient time for you, either at your home or in our city-centre office.
Free Mortgage Advice & Quotation
Our Mortgage Advisors will provide you with free Mortgage Advice and Mortgage Quotes.
If you want Mortgage Advice or a Mortgage Quote, please give us a call on 02477 170170 or submit your details via our contact Enquiry Form.
Open & Honest Mortgage Advisors
Our reputation as leading estate agents in Coventry is critical to us.
Our Mortgage Advisors based in Coventry will be completely open and honest about the advice they provide.
Read our previous blog post here, How To Add Value To Your Home