Mortgages

FAQ:

Got Questions? Check out our FAQ section.

The Best Mortgage Company provides individual advice to clients seeking mortgages for residential, buy to let, or commercial purposes.

The mortgage market changes rapidly as it is influenced by conditions in the larger financial world of banking and credit. Only two years ago there were over 10,000 available products, but the credit crunch and turmoil in financial markets has seen this fall to about two thousand. To ensure the choice of the most suitable product, you really need the honest and unbiased advice of an independent broker such as The Best Mortgage Company. As part of Personal Touch Financial Services Ltd network we are able to source exclusive products that are not available elsewhere in the market. We discuss your circumstances with you to agree the ideal type of product for your situation, and then research the market to obtain the best deals available. Our recommendations will take account of your available income, existing commitments, past credit history, and future prospects.

If you agree with our recommendation we progress to an application. We always prefer to discuss the case in general with the lender in advance to ensure that there are no issues that could cause a problem, then, when we are confident we undertake a decision in principle to obtain a guarantee of a mortgage. The application can then be submitted on your behalf. Depending on the case, and the lender, we will need proof of identity, proof of residence, and proof of income.
At the application stage there may be certain fees to pay to the lender for valuation of the property, or a booking fee. Most other fees can usually be added to the mortgage amount if required.

We do not normally charge a fee for mortgage advice, however this will depend on your circumstances. If a fee is charged our typical fee is £495.
There are many types of mortgage, and although many clients will perhaps understand what a fixed rate means, or even a tracker rate, how many truly understand offset schemes, capped or collared mortgages? This is where good advice counts for a lot.
The Best Mortgage Company is a trading style of Peter Tatam Ltd which is an Appointed Representative of Personal Touch Financial Services Ltd which is authorised and regulated by the Financial Services Authority.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Our mortgage service covers:-

FIRST TIME BUYERS

Clients buying their first home can be quite naive about mortgages, and indeed the whole process of buying a property. Committing to a loan for many thousands of pounds can be daunting at first. The recent changes in lending policy by the mortgage providers means that, in general first time buyers will need a larger deposit than would have been the case in 2007. It is important to discuss your aims well in advance of looking at properties to make sure a mortgage is available, and thus avoid any disappointment at a later stage.
We advise on the house buying process, what you must do, and when, what mortgage is appropriate, how to select a suitable solicitor, what insurance you are obliged to have, and what insurance you should have if funds permit. We liaise with the lender, and the solicitor, and if necessary the estate agent to accomplish a smooth progression from application to completion, and the ownership of your first home. Some of the issues are explained in the FAQ section below.

We do not normally charge a fee for mortgage advice, however this will depend on your circumstances. If a fee is charged our typical fee is £495.

PURCHASES

Although any subsequent purchase may not hold the same dread as your first purchase, it is nevertheless a most stressful time. At The Best Mortgage Company we do our best to make the process a little smoother by acting as your point of contact to overcome any minor hurdles that the whole process throws up.

In the current turbulent mortgage market new products and changed rates are a daily occurrence. The impact of the recession has seen lenders move to charging higher fees, and care is needed to select the most appropriate mortgage for your situation.
Some purchases may be limited to a specific time scale, such as when buying a repossessed property or at auction. Providing we know the situation in advance it is reasonable to expect completion within the 21 day time frame, although you would also need a pro-active solicitor to achieve this.

We do not normally charge a fee for mortgage advice, however this will depend on your circumstances. If a fee is charged our typical fee is £495.

REMORTGAGES

It is always best to review your mortgage on a regular basis. As you approach the end of a fixed or low rate term you may be offered another deal by your existing lender, but how do you know it is competitive? Mortgage products change daily, and an independent broker is the only person to give you a market wide appraisal of the current situation. Keeping payments to a minimum is the sensible way to run a mortgage, and could save you many thousands over the mortgage term.

Many lenders will offer incentives to people remortgaging their home such as free valuation, or free legal services. In some cases there are completely fee free deals available, but if the payrate is too high they can prove to be very expensive over the mortgage term.

For our existing customer's, we make sure that we keep in regular contact with quarterly newsletters to inform you of market conditions. We always write to you three months prior to the end of any fixed or low rate period to outline your options at that time. This guarantees a smooth transition from one lender to another should you decide to move your mortgage.

The fall in property values over recent years has caused issues in some cases where the existing mortgage originally taken at perhaps 75% of the property value is now increased to 85% or higher. This has a large impact on the rate charged by a new lender, and in many cases the best advice will be to remain with the current mortgage provider until the market alters in the coming months.
We do not normally charge a fee for mortgage advice, however this will depend on your circumstances. If a fee is charged our typical fee is £495.

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