Call us today on 01905 779697
morgages-top-image

Mortgages

"People do not want to be sold a mortgage, they want to talk about a mortgage, it is about relationships."

Mortgages in the UK are distributed via the intermediary market, direct from the lender or a specific channel.

The choices are often confusing if not overwhelming and getting independent advice provides you with impartial information and a recommendation based on your needs.

If you are an experienced buyer or purchasing for the first time or just looking to re-mortgage your property, we can help you find a solution.

We can be creative and think outside of the box. These days it is not unusual for parents to provide more help financially. Pooling resources can often be the leg up that makes it all happen

Mortgage products and criteria change frequently to reflect the market place and intermediaries rely on sophisticated sourcing systems to differentiate between products to determine the most appropriate product that meets the applicant’s needs. This does not necessarily mean the lowest headline rate.

Adverse Credit - Since the Mortgage Market Review back in 2012, mortgage underwriting and criteria tightened considerably, restricting self-certifying applicants, interest only mortgages and stringent affordability checks were introduced. These changes particularly effected those with adverse credit/ blips in their credit profile, as a big blockade was put in place to stop lending to any clients deemed as “High Risk”.

Four years have now passed since the review, and the knee jerk reaction underwriting has somewhat relaxed, allowing a gap in the market to appear and cater to those who may not have a squeaky clean credit file.

Credit problems such as defaults, county court judgements and IVA’s are far from uncommon and scarily sometimes people don’t even realise they have such a thing registered against them let alone their detriment when it comes to applying for finance.

As we are whole of market advisers, we are able to utilise those lenders who have shown leniency and understanding to applicants that may have encountered credit issues over the years; and would therefore encourage that even if a high street lender says no…this doesn’t mean no!

Buy to Let Mortgages – Mortgage rates are at an all-time low, lenders are offering extremely low rates and it is a fantastic time to re-mortgage or purchase.

Mortgage Advice

We will provide mortgage advice on the following products:

  • Purchase
  • Remortgage
  • Buy to Let
  • Help to Buy
  • Self Build
  • Equity Release
  • Home Reversion Plans
  • Adverse Credit

We Will:

Complete a fact find to determine your need and affordability criteria.

Explain the buying process and methods of repayment.

Explain the mortgage process and role of other agencies (such as your solicitor).

Explain the different risks involved, inflation, market, interest rates, currency risk etc.

Explain product types, fixed, tracker, capped, discount, variable etc.

Produce a 'Key Features' document that details the mortgage related costs.

We will source the ‘whole of market’ (see definition below) and select a product from this range. Direct Channel products are not available to intermediaries. However, we can still advise on the suitability of these products but cannot guarantee the information provided by the lender is accurate.

Whole of Market

  • Products available to the intermediary market
  • Products can be compared on Sourcing system
  • All information available to intermediary
  • Application to Lender via the intermediary
  • Key Features produced by the intermediary
  • SN Financial Services Ltd will receive a payment from the lender when your mortgage completes

Typically we charge an arrangement fee of between £295.00 and £500, details of our product fees can be found in our key facts.

Click here to view Key Facts about our Mortgage and General Insurance Services (PDF).

Your home may be repossessed if you do not keep up repayments on your mortgage.

Need help or advice with your finances?

We offer a free initial consultation!