At Mortgages Online we have access to almost every lender on the market. We are always expanding our list to help find the best possible deal for you. If going direct comes out as your best option, then that is what we will advise.
No is the simple answer. By completing the on-line factfind you are saving our advisers valuable time, which means we can waive any broker fee. This increased efficiency means that the fee we receive from your chosen lender is sufficient to fund our operation.
Please note: If we refer your case across to any associated company then a fee may be payable to them but this only applies to “complex cases” or Limited Company Buy to Let applications. Standard mortgages handled by Mortgages.Online are completely free to you, our customer.
Simple, it’s three easy steps:
1) You complete your details & our “real time” sourcing system will show you the best rate available for the details entered.
2) The fully completed factfind are forwarded to one of our professional Mortgage Advisers who review your information & supporting documentation before making their recommendation of the best mortgage to suit your needs.
3) Once you are happy with the selection, we’ll make the application for you & chase right through to completion.
Remember, we don’t receive payment from the lender until your mortgage completes so, it’s in our interest to ensure your application is successful.
A Standard Variable Rate is a type of variable rate mortgage, which means that the total amount that you repay each month can change.
On a repayment mortgage, a slice of your monthly payment goes towards the interest that is charged by your lender. The other part goes towards repaying the money that you have borrowed.
If your lender raises its Standard Variable Rate and this is the type of mortgage you are on, your monthly repayments will increase as well. But, the additional amount that you pay will go towards the higher interest rather than the capital, so although your payments have gone up, you will not be paying off your mortgage quicker. If you’re on your lender’s Standard Variable Rate, you need to be happy with the risk of your mortgage payments going up if the rate changes and aware that theres a high chance you could get a better deal elsewhere.
Taking your very first steps onto the property ladder can be an exciting time, but with so much to think about, it can often become more of a daunting process. As a First Time Buyer, it is good practice to ensure that you go by the following criteria to give yourself the best chances of securing that mortgage.
1) Save a least 5% of the property value for the deposit
2) Improve your credit score
3) Register to vote
4) Receive regular income
5) Demonstrate you have sensible spending habits
Applying for a mortgage involves providing some necessary information about your personal finances and the mortgage lender conducting a credit check and survey of the property.
In terms of acquiring a mortgage offer, there’s no rule over the amount of time that it takes, but you can expect to wait anything from 1 week to a month from application to mortgage offer. However, this will depend on whether the process goes smoothly, hwo complicated your situation and the lender's own turn around times.