Rush for first time buyer mortgages

Friday, 2nd October, 2020
first time buyer mortgages

As the wheels of the economy slow down and people begin to brace themselves for the full effects of a recession, there are a number of groups likely to be affected over the coming months. For the purpose of this article, we’re going to focus on those applying for a first time buyer mortgage (or those about to apply for a first time buyer mortgage).

Sadly, COVID-19 has impacted young people’s income and forced lenders to tighten up their mortgage lending criteria. The overall result is shrinkage in first time buyer mortgage availability.

House prices are predicted to fall in the wake of the recession, and this is likely to help make getting on the property ladder that bit easier. However, it’s those who, after many years of saving, have built a sizeable deposit that are likely to be well placed to get a first time buyer mortgage.

Regardless of your situation, the good news is that all is not lost.

As a Guildford mortgage broker and first time buyer mortgage specialist, we still have access to a good range of first time buyer mortgage products that includes low deposit mortgages – and even a few no deposit mortgages, too.

You may also find our first time buyer mortgage guide useful, which includes 13 tips for how to improve your chances of getting a first time buyer mortgage – all of which are still relevant in a post COVID-19 world. You can download it here.

Of course, if you are looking to get your feet on the property ladder but feeling overwhelmed by the news that it’s becoming harder to buy a property, then there really is no substitute for picking up the phone and speaking to one of our first time buyer mortgage experts.

The situation does seem to change on a daily basis so our advice, if you are ready to apply, is get in touch straight away and start the mortgage application process sooner rather than later.

Contact the Complete Mortgages team today on 01483 238280 or email info@complete-mortgages.co.uk. And if your mortgage requirements are less first time buyer oriented, then remember we’re also buy to let mortgage specialists and adverse credit mortgage specialists, too.

Reduce mortgage uncertainty by remortgaging

Wednesday, 29th July, 2020
Reduce mortgage uncertainty by remortgaging

We imagine that by now, there’s a little COVID fatigue amongst the majority of you. After all, there are only so many news reports – all of which generally point to economic uncertainty – that one person can stand.

So, we’ll keep this as brief and upbeat as possible.

Amid all the uncertainty the UK’s currently faced with, there is one thing that you can be certain of, and it’s that finding yourself on a standard variable mortgage will significantly increase your mortgage payments. Another certainty is that by remortaging – ideally before you default to the standard variable rate (SVR) – you will save money on your mortgage.

Despite the impact of COVID-19, there are still great mortgage deals available on the market, so there’s really no excuse to settle for the SVR – ever.

According to research from comparethemarket.com, those about to fall onto the SVR could face paying an additional £2,000 a year – or just under £170 per month – in interest. The same research also suggests that up to 850,000 homes could be impacted by this within the next six months.

Our team of Guildford mortgage brokers are really hot on this, and we always ensure that all of our existing clients are made aware of when their current mortgage deal ends and the SVR mortgage begins. However, if you’re not one of our clients and aren’t aware of when you’ll enter SVR territory, then you’re unlikely to know until you spot an increase in your monthly mortgage payments.

The way to address this is easy. All you need to do is call Complete Mortgages on 01483 238280 or email info@complete-mortgages.co.uk and we’ll quickly establish where you are with your current mortgage, and offer you some options as to where you could be by remortgaging.

In these uncertain times we’d encourage you to fix certainty wherever you can – and getting a better mortgage is one way in which to do this, particularly as we don’t know what’s around the corner when it comes to interest rates.

Whether you’re looking to remortgage, get a first time buyer mortgage or arrange a buy to let mortgage, our team of experienced mortgage brokers in Guildford are here to help.

By Mark Finnegan at Complete Mortgages

Guildford mortgage brokers: coming to a screen near you

Wednesday, 8th April, 2020
Guildford Mortgage Brokers

With so many people having so much fun using video conferencing platforms during this period of lockdown, it’s a wonder any of us will ever leave the house again!

Whilst applying for a mortgage probably won’t be the first thing you’ll want to discuss with friends over your Friday night virtual meet up, it’s worth remembering that video is being used to make sure that the cogs of life continue to turn as much as is possible during this very strange time.

And this is exactly what we’re aiming to support following our decision to launch a video mortgage application service until things have returned to normal and those in search of the UK’s best mortgage deals are able to come and visit us in person.

Essentially, what we’re offering are face-to-face mortgage consultations, just as you would ordinarily receive from us, but over video conferencing instead. So, regardless of where you are right now, you can still apply for a mortgage using Skype or any other video platform such as Teams and Facetime. You can even apply for a mortgage with WhatsApp’s video function, too.

As mentioned in our last article, which covered how COVID-19 is affecting the mortgage industry, when the Coronavirus cloud has finally disappeared, there is likely to be an influx of mortgage applications following a prolonged period of pent up demand.

By offering our clients the opportunity to progress their mortgage application now rather than waiting until ‘normality’ has returned, we’re aiming to pre-empt the inevitable bottleneck (and it will happen) and help people make headway when it comes to buying their next property.

To apply for a video mortgage appointment with Complete Mortgages, all you need to do is:

1. Contact us on 01483 238280. The entire team is currently working from home in accordance with government advice, however, you’d never know it, as you’ll be put through to one of the team just as you would normally.

2. Agree a video mortgage appointment time with one of our mortgage advisers. They will provide a selection of times and a date so that you can choose one that best suits you.  If you would prefer an initial telephone chat with an adviser, prior to setting up your video appointment, we will be happy to do that as well.

3. State your preferred video conferencing platform, supply your e-mail address and mobile number, then we’ll do the rest.

The limitations posed by COVID-19 are likely to go on for some time. Our recommendation is that you do as much as you can now, utilising video conferencing technology, so that there’s less work to do (if there’s anything to do at all!) when we can all finally leave our homes.

Who knows, maybe we’ll make video mortgage consultations part of our service even after the dust has settled given how popular it’s proving to be across the UK.

Don’t let COVID-19 stop you from arranging your next mortgage. Whether you’re looking to remortgage, get a first time buyer mortgage or apply for equity release, you can now do so remotely by contacting the Complete Mortgages team on 01483 238280 or emailing info@complete-mortgages.co.uk.