Mortgage Advisors Harrogate

The mortgage market changes all the time, not just in terms of mortgage deals and regulation but also in the way lenders assess loan applications.

Some of the changes have been in the way mortgage lenders assess the suitability of all clients for the different types of loan on offer. They base this decision on a variety of factors, primarily:

1. The property – type, condition, access and location
2. Employment status – amount and frequency of income (and time in your current role)
3. Financial commitments – current and future (and your history of managing credit).

There is now more focus on affordability and expenditure. This is very different to the traditional approach of simply multiplying your annual personal (or rental) income by a pre-set multiple to obtain a maximum lending amount.

We pride ourselves on being up to date with regulation, legislation and the economic market. We understand your needs, match that to the requirements of lenders, and protect you and your dependants once you have bought your property. This way, we help you save time and money in the new world of mortgage advice.

If you are looking for mortgage advice and are based in Harrogate then feel free to contact us to see how we can help you.

How we add value

Besides providing mortgage and insurance solutions, our mortgage advice add value by helping you:

• Save money by not paying too much for your mortgage.
• Pay the correct deposit to get the best interest rate.
• Avoid paying hefty early redemption penalties or administration costs if you make partial loan repayments during the mortgage term.
• Decide how best to structure the term of your borrowing, taking into account your age, objectives and retirement plans.
• Understand the risks associated with repayment or interest-only mortgages.
• Save time and money by focusing on lenders and providers whose underwriting criteria will suit you.
• Review how best to use your existing provisions while recommending any suitable and necessary new solutions.
• Save money by ensuring you don’t pay too much to protect your assets.

Target clients:-

• People needing mortgage advice based in Harrogate
• First Time Buyer
• Moving House
• Remortgage
• Buy to let (both applied for personally or on behalf of an individual’s ltd company)
• Let to buy
• Second Home
• We also assist with the ‘Help to Buy’ facility

Government help Help to Buy – equity loan – for new build property. Unlike the mortgage guarantee scheme this is a loan not a guarantee, and is only available to buy a new build home. The most you can borrow is £600,000. This is how it works. The government lends you up to 20% (40% within Greater London) of the cost of a new home, you add a 5% deposit, and borrow the other 75% from a lender. So for example, a £200,000 home will break down as: – A deposit from you of £10,000 – A loan from the government of £40,000 – A mortgage from a lender of £150,000 The attraction of this scheme is that the government loan is interest-free for the first five years.

Mortgage Advice Here to Help You

Buying your first or next home can be stressful. There are many questions you will need to ask yourself regarding your choice of property. Then come the mortgage related ones such as:

• How much will it cost?
• Can I afford it?
• How much deposit will I need?
• What type of mortgage do I want?
• Will I get a mortgage?

The home loan market is complex. There are so many different mortgages to choose from. So it’s good to know that, as your adviser, we are on hand to answer your questions. We will help you with the tricky process of not only getting a mortgage but getting the right mortgage. We take pride in offering a personal service that takes into account your individual circumstances. Your financial situation is unique, so we work hard to understand your goals and aspirations, and make financial recommendations based on a comprehensive and detailed analysis of your needs.

The marketplace we review on your behalf

We offer a mortgage review service that is representative of the whole of the market. We do not provide advice on 2nd charge mortgages or bridging loans. Where customers have a need for these types of loan we will refer you to a specialist broker.

After we have assessed your needs, we will advise and make recommendations for you. Our recommendations will be made following a comprehensive and fair analysis of the mortgage market. A lender will make its decision by considering these three areas:

1. Whether they will lend to you
2. How much they will lend to you
3. That your proposed method of repaying the loan by the end of the term is reasonable.

We save you time by researching the market and only approaching the lenders that suit your needs. This also avoids unnecessary credit checks that can leave an unnecessary record on your credit history.

Our extensive lender panel represents the whole of the market and we work hard to ensure that we add new lenders to that panel when they appear. So, if one lender changes its underwriting criteria, we can quickly approach other lenders who will consider your situation. As part of Quilter Financial Planning, we have access to market-leading exclusive and semi-exclusive rates for both residential and buy-to-let lending. This is because of Quilter Financial Planning’s size and negotiating power. If you require more specialist advice in areas such as complex prime, self-build, and overseas lending, we can help you. In areas such as commercial loans, secured loans, bridging finance and asset finance, we have access to a panel of specialist brokers we can refer you to.