Mortgages

If you are worried about the impact of COVID-19 on your mortgage, find out how a mortgage payment holiday could help.

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.

First-time buyers
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.

Remortgage
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 more suitable 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.

Think carefully before securing other debts against your home or property. You may have to pay an early repayment charge to your existing lender if you remortgage.

Buy-to-let
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.

Your home could be repossessed if you don’t keep up repayments on your mortgage.

You may have to pay an early repayment charge if you remortgage.

This calculator is only an estimate of how much your mortgage payments may be and does not constitute a formal offer. Please contact us to get a more accurate figure.

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.

Checking affordability

As a mortgage broker, in order to advise you on the most suitable 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 most suitable 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.

Take the first step to your new mortgage?

Get in touch for advice and obtain a quote now!

CONTACT US

T.01698 200050

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
info@mortgagehub.co.uk

T.01698 200050

Wilson Kane

Wilson has worked in financial services since 1991. Along with Lynsey, Wilson set up The Mortgage Hub in 2006 after noticing a critical need for a whole of market mortgage broker dedicated to providing suitable advice in relation to mortgage deals and insurance. Delivering the right customer outcomes and providing excellent customer service is at the heart of our business model.

CONTACT WILSON

Lynsey Campbell

Lynsey has a wealth of mortgage industry experience, having worked in the mortgage and estate agency industry since 2001. Lynsey has extensive knowledge of the mortgages, and prides herself in ensuring customers receive tailored mortgage advice to meet their individual needs. Lynsey is a Director of the business and dedicated to providing excellent customer service at all times.

CONTACT LYNSEY

Elaine McDonagh

Elaine has worked in estate agency and mortgage broker industries since 2004. As our Sales Manager, she is first point of contact for all new enquiries. She supports customers through the end-to-end process from sourcing a property, viewings, negotiating the best property price and starting the mortgage process. Elaine guides customers through each stage and ensures everything is in hand.

CONTACT ELAINE

Becky Campbell

Becky joined The Mortgage Hub team in 2010 and since then she has worked her way from Administration Assistant to Accounts Manager. Becky is an integral part of the team, overseeing accounts management and supporting our customers with mortgage protection and general insurance needs, providing quotes and completing the application process to ensure a seamless process for each of our valued clients.

CONTACT BECKY

Jennifer Stewart

Jennifer joined the team in 2020 and has a strong knowledge of the mortgage application process. Jennifer’s role is to pre-check all mortgage applications to ensure lender requirements are met which helps expedite the process. Jennifer has a strong compliance background and by reviewing applications prior to submission helps avoid unnecessary delays ensuring a smooth customer experience.

CONTACT JEN

Gillian Davie

Gillian joined the team in 2021 as Compliance Officer. Gillian is responsible for providing end-to-end compliance oversight and ensuring all regulatory requirements are met. Gillian brings a wealth of financial services, risk and compliance experience from a 30-year career with a high street bank. She is responsible for supporting the team to ensure the delivery of fair customer outcomes at all times.

CONTACT GILLIAN

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

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