Buying a new home is exciting and one of the most significant purchases you will make, so we want you to enjoy the experience and be happy with your decision. If you are looking to purchase your first home, move to a new property, remortgage your existing home, or purchase a buy-to-let property, we are here to assist and make the process as stress-free and efficient as possible.
The first step is to obtain a decision in principle for you. This ensures you will be approved for a mortgage subject to further checks. With unlimited access to the whole of the UK mortgage market, and a proven track record of acquiring mortgage approvals for the most complex of situations, we will then source the best possible mortgage deal to suit your individual needs and circumstances.
Buying your very first property can be an incredibly daunting prospect. It’s hard to know where to start. That’s why we’re here to help and guide you through the entire process. We will provide tailored advice based on your current circumstances and future plans, ensuring that you are aware of all potential costs associated with buying and owning a property. We will then source the best mortgage deal to suit your budget, objectives, and repayment preferences.
A remortgage is used by existing home owners for a number of reasons. They may wish to move to a new home, switch to a better mortgage deal for their current property, consolidate debts, or increase their borrowing to carry out home improvements.
You can remortgage with the same lender or with a new mortgage lender. Many mortgage deals come with a discounted interest rate for the first few years. When these end, it is common for home owners to source a new deal that offers a lower APR or a new fixed-period discounted interest rate.
If you are thinking about remortgaging your existing home, there are a number of important factors that must be taken into consideration to ensure it is the right time to switch mortgages and the best decision for you and your family in the long run.
For example, will the mortgage lender charge valuation and solicitor fees? Will your final repayment be higher or over a different period of time? Will you have to pay an early repayment charge on your current mortgage? These are the types of considerations we will look at carefully to ensure you get the very best mortgage deal.
If you’re considering purchasing a residential property in Hamilton or the greater Glasgow area as a buy-to-let investment, there are specific types of mortgages available that differ from standard residential mortgages. We will provide tailored advice and source the most suitable mortgage deal based on your deposit and whether your main aim is to acquire monthly rental income or achieve long-term capital growth.
Adverse credit history
Obtaining a mortgage when your credit history is less than perfect can be an obstacle, but it’s not impossible. It may affect how much you can borrow and the interest rates you are offered, but there are lenders who provide mortgages to home buyers with adverse credit. At The Mortgage Hub, we have an exceptional track record of helping clients who have faced financial difficulties secure a suitable mortgage deal that enables them to buy their new home.
Guide to the Mortgage Process
So, the time has finally arrived; you have a deposit, you’ve got your finances in order, and you’ve applied for a mortgage for that perfect home – but what happens next?
For those that are new to house-buying, the mortgage application process can seem like a daunting task. Here, we’ll take you through the main points as to what to expect when applying for a mortgage.
As a mortgage broker, in order to ensure that to receive the best mortgage deals available at the time – it’s important for us to understand our clients’ individual financial circumstances and limits. While most people will look to borrow the highest amount they can, it’s important for us to find the ‘goldilocks’ zone, where the amount borrowed is correctly weighed up against what a client can reasonably afford – without having to overstretch themselves financially.
To figure this out, expect to provide various financial details of income and outgoings (utility bills, current rent, money spent on leisure activities and holidays etc.) It will also take into consideration any plans for the future that may affect finances; this will include taking into account the possibility of interest rates rising in the years to come.
Comparing what’s on offer
As mortgage advisors, it’s our job to do the legwork and ensure that our clients get the best possible mortgage that is suited to their own personal requirements. At The Mortgage Hub, we will undertake thorough research, assessing and comparing the best deals available at the time of application for our clients, to ensure that their needs are met, and that any mortgage offered is going to be affordable – and not overstretch our clients.
Considering a mortgage offer
If and when a mortgage offer is accepted, the lender then provides a ‘binding offer’ and documents which entail the terms of the mortgage.
There’s then a set time period (which could be at least a week) where you the buyer has a chance to consider the offer and any potential implications of that offer.
Tallying up the costs
Unfortunately, there’s a fair amount of fees beyond simply purchasing a house. But at The Mortgage Hub, we will ensure that all fees and charges that are involved with house purchasing are fully explained and made clear before going ahead with any offer.
Valuation of property
Once we’ve helped our client secure a competitive mortgage deal that’s suitable and affordable for them, the chosen lender will then go about the valuation of the property. An independent surveyor will carry out a valuation to ensure the property’s worth, and to ensure it is priced correctly for the purpose of the mortgage.
At this stage, you the (potential) buyer can request (at your expense) fuller, more detailed surveys that will go far beyond value – taking into account any major defects or other potential worrisome problems that could be lurking within a property.
Offer and completion
Once the valuation has been completed, the lender will write to you, the buyer, and your solicitor with the mortgage offer. At this stage, before completion, there is an opportunity to go through everything to do with us and ensure it is all 100% ready to proceed with the purchase.
Once everything is signed and sealed, having received the Certificate of Title from your solicitor, the lender will release the funds for the property, which will in turn be passed on to the seller’s solicitor. Once this money is received, the purchase is complete!
With more than 25 years’ experience in the industry, and access to the entire mortgage market – from mortgage advice to insurance advice – we’re ideally placed to take you through the mortgage process and ensure that you get the best deal that’s tailored to your individual circumstances and needs.
The Mortgage Hub – meet the team
A wealth of industry experience is just the start of the range of expertise at The Mortgage Hub. We are a highly professional group of customer focussed mortgage advisers who genuinely want to help you through your property and mortgage journey.
Take a moment to meet our team and feel free to drop us a line on any mortgage or insurance related matter – we really do want to help!
The Mortgage Hub
38 Cadzow Street,
Hamilton ML3 6DG
Ross joined The Mortgage Hub with a wealth of experience in the banking sector taking on the roll of mortgage adviser. Ross is also very focused on customer service and ensuring our clients receive the best possible advice on their mortgage and insurances.
Our customer service– see what our clients say
We have been customers of Wilson for over 17 years, his company is second to none. Always gives fantastic service and has always works endlessly to get us the best deals, making us feel very comfortable and valued. The girls in the office are extremely helpfully and friendly and nothing is ever a bother to them. Have recommended The Mortgage Hub to all our friends and family and we will continue to use their invaluable service for years to come and would highly recommend to anyone looking for financial advice. – Sharon Kyle
We would both like to thank you all for all of your help since the start of the year. When we first met with Wilson we had absolutely no idea about anything to do with getting a mortgage, how much we needed for a deposit, or buying a home. Now we are homeowners together and couldn’t be happier! We appreciate all of the searching to get us the best mortgage deal and the best insurance policies, and we will definitely be keeping in touch for some more help when our current deals run out! We have also recommended your services to my best friend and her partner who were in the same situation as us, who I think have already been in to speak to you, so hopefully they benefit from your services the way we did. And finally would just like to say thanks for putting up with my constant e-mails and phone calls!! We probably wouldn’t have this home if it wasn’t for all of your help and knowledge, it is very much appreciated. – Emma and Barry
“Having an independent mortgage advisor really helped because I feel they really had my interests at heart. The Mortgage Hub team have very valuable knowledge and were able to handle my complicated mortgage situation in a way that made me feel less stressed about the whole thing.”
“Having worked previously with Mortgage Hub to help me secure my very first home, I have found them extremely professional and providing an excellent service. I am therefore always confident in referring my friends and family to Mortgage Hub knowing they will always receive the best advice.”
Stay connected with us – read our blog and follow us
Ready to take the next step up the property ladder? Let us help take some of the financial stress off your shoulder… twitter.com/i/web/status/9…
Looking to remortgage? There are three simple steps you can take to make yourself an attractive borrower:… twitter.com/i/web/status/9…
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Why are Buy-To-Let properties on the rise in Scotland and could it be the perfect investment for you?… twitter.com/i/web/status/9…