Is getting a mortgage quickly October’s priority?

Tuesday, 29th September, 2020

We recently covered how the recession is beginning to bite, and that first time buyer mortgages – particularly low deposit mortgages and no deposit mortgages – are slowly disappearing from lenders’ shelves. However, a recent report claims that mortgage demand is at pre-COVID levels. So, with demand high and availability low, is September a key month to apply for a mortgage?

The answer might just be ‘yes’ – particularly if you fall into the first time buyer mortgage category (and potentially the adverse credit mortgage category, too). But first of all, let’s take a look at the figures.

The Bank of England reported that demand for mortgages rose in July – the first time since lockdown – and that the number of new home loans rocketed from 39,900 in June to 66,300 in July. Whilst this is good for the economy, it is also at odds with a report from Moneyfacts that states how borrowers with a 10% deposit now have almost no low deposit mortgage deals available to them – down from 779 at the beginning of March.

As a Guildford mortgage broker with access to the UK’s best mortgage deals, we can find the right mortgage for everyone. However, given the speed at which mortgage products are disappearing, combined with increasing demand for mortgages, it looks as though another bottleneck could be around the corner; one caused by people scrambling for specific mortgage products just in case they disappear.

Whilst Complete Mortgages is unable to comment on how many more low-deposit mortgages are going to be withdrawn, there certainly seems to be a downward trend.

As a result, the only way in which to address this is to apply for a mortgage as soon as possible; not only so that you have access to the biggest pool of mortgage products available, but also to place yourself firmly in the mortgage application queue, which is likely to continue to grow until the stamp duty holiday is discontinued in March.

If you feel like you’re running out of time when it comes to applying for a mortgage, then let Complete Mortgages handle it all – from initial mortgage consultation to getting a decision from the lender – for you.

Contact our team of Guildford mortgage advisers on 01483 238280 or email info@complete-mortgages.co.uk. And remember, we also handle buy to let mortgages and commercial mortgages, too.


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.