News & Blog

The value of mortgage advisers

18th February 2020

With Property Debt accounting for over 90% of total UK household liabilities, it probably makes sense to seek advice.

For many of our needs we happily purchase online, but with the myriad of mortgage products out there, and the fact that it is such a sizeable and complex purchase, why wouldn’t you seek professional help?

To reinforce this point, industry data shows that intermediaries (such as us) originate three-quarters of all ‘residential mortgages’ (by value), up from less than half in the 2009-12 period. With regard to landlord ‘buy-to-let mortgage’ business, this figure increases to almost 90%.

Work through the choices

We endeavour to deliver a human face to help make sense of the most suitable options on offer for you.

For example, the vast majority now opt for a fixed rate mortgage, but a tracker rate may be better for your needs. Securing the introductory mortgage rate for five years, is now more popular than the two-year deals, but again, flexibility offered by a two-year one may be more suitable.

In terms of the overall length of the mortgage, in the past, 25 years was the standard length. However, to reflect the development of mortgage terms running into our 60s and beyond, the 30-year plus terms are becoming more popular – delivering a cheaper monthly cost, albeit more expensive overall.

We’re there for You

Additionally, we recognise that most of you have time-pressed lives. We will endeavour to reduce the hassle of filling out forms and applications.

We’ll help navigate you through the raft of tighter rules, which now apply to ‘evidencing of income’ and ‘affordability’ measures.

We also take a view of the wider marketplace rather than just what’s on offer from one high street lender.

Plus, we can highlight the insurance you should consider to cover the mortgage debt and your income stream(s).

So, irrespective of whether you’re new to property buying, or an old hand, we have experience of dealing with all types of clients, enabling us to work towards identifying the most suitable product for you.

Please talk to us to see if we can help you (or a family member) step onto the property ladder. Get in touch with us on 1609 760960. Or arrange a call back and one of our mortgage brokers will be happy to help.


The content of this article is for general information only and should not be considered advice.  Professional advice relating to your individual circumstances should always be sought prior to making any decisions or taking any action. You may have to pay an early repayment charge to your existing lender if you remortgage. Your home may be repossessed if you do not keep up repayments on your mortgage. All details were correct at the time of writing.

Reference – BL091 – Feb – 20

Sources:

Office for National Statistics

https://www.ukfinance.org.uk/system/files/The-changing-shape-of-the-UK-mortgage-market-FINAL-ONLINE-Jan-2020.pdf

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Gale and Phillipson Investment Services Ltd, Gale and Phillipson Advisory Services Ltd, Gale and Phillipson General Financial Services Ltd and Gale and Phillipson (SE London) Ltd are all authorised and regulated by the Financial Conduct Authority (Reference Numbers 431387, 142752, 195080, 195522).  Gale and Phillipson (Herts) Ltd is an appointed representative of Gale and Phillipson Advisory Services Ltd.  Gale and Phillipson (Surrey) Ltd is an appointed representative of Gale and Phillipson Investment Services Ltd. (Reference Numbers 615821, 703337).All companies trade under the name Gale and Phillipson and are registered in England and Wales numbers 05409822, 02232959, 03751076, 04077157, 08864945 and 04823391.  Registered office for all companies is Gallowfields House, Fairfield Way, Richmond, DL10 4TB. Gyr Financial Consulting Limited is an appointed representative of Gale and Phillipson Advisory Services Ltd which is authorised and regulated by the Financial Conduct Authority. (Reference numbers 811525 and 142752 respectively) Gale & Phillipson Advisory Services Ltd trades as Gale and Phillipson. Registered in England and Wales number 11334836. Registered Office: Level 1 Brockbourne House, 77 Mount Ephraim, Tunbridge Wells TN4 8BS.

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