Mortgage broker in Chichester
We provide expert mortgage advice and services for home buyers in the Chichester area.Speak to a broker
Find me a mortgage broker in Chichester
Finding an affordable mortgage under the current circumstances can be much easier when you have a broker on your side who knows where to look for the best deals. Stop your scrolling and leave it to the professionals. A Mortgage Hut broker can match you with the right lender and get you the approval you need to buy or remortgage a property you love.
FCA approved mortgage brokers covering Chichester
Our qualified team of experts work under the strict guise of the Financial Conduct Authority. It’s the FCA’s job to regulate financial products and advice, so when you come to us for help, you’ll know that everything we do is vetted and monitored by a leading body that works independently from the UK government.
The rules that we abide by allow us to confidently give advice that’s built on accuracy, integrity and putting you first. Without the FCA’s guidance, we’d still uphold these principles. We're proud that we’re so transparent and open about the way we help people looking for mortgage advice. It’s what makes our service special because we’ll show you the list of lenders available to you rather than recommend one that’s easier for our team to arrange.
It’s your mortgage agreement and it’s really important that you’re happy with the terms and conditions, with a good understanding of how much you’ll repay and when.
We provide advice throughout Chichester and the surrounding areas including:
From application to completion
The Mortgage Hut can help you make a successful application to your chosen lender. The broker you’re matched with won’t nudge you into making a decision, it’s their job to listen to what you need from a mortgage, like how much you want to borrow and how long you need to make the repayments.
When they feel like they know you and can recommend a choice of good lenders, they’ll check your eligibility by looking at your annual income, level of debt in relation to that income, your age and the type of property you want to buy. These are the things that a lender will look at too, when deciding if you meet their criteria for their mortgage product, so checking with a broker before you apply can help you avoid accidentally applying for a mortgage that you might get declined for. A rejection for a mortgage can appear on your credit report for other lenders to see, so ideally, you want to steer clear of one.
Your Mortgage Hut broker can prepare your final application with a careful eye so that hiccups like spelling mistakes or incorrect details won’t slow you down as lenders will want a perfect application that’s clear with accurate information.
The service your broker provides you is built on clear and honest advice that you can take away and use throughout the course of your mortgage agreement. Getting that approval is what makes their job worthwhile but saving you money and making sure you’re with the right lender offering an affordable contract is what makes them smile.
First-time buyer mortgages
Marinas steeped in history and blue waters might be why you’re considering buying in Chichester or perhaps you’re already a local seeking to stay in your hometown with the advantages of a breezy climate and a short train ride to London? Chichester is about 65 miles south west of London and is easily accessible via the major motorway networks of the M3 and M27 so getting out and about for work or fun is pretty simple.
House prices reflect the ease of commuting and the stunning scenery so first-time buyers like yourself, can expect to pay around £422,500 for a semi-detached house in Chichester (up by 14% since 2021) but cheaper properties can be found, especially if you’re willing to buy a terraced house. With an average price of £265,000 (down 16% since 2021) you could compromise on what you’re looking for and depending on the area and your circumstances, may even be able to secure a cheaper fixer upper.
This is useful to know, as usually, the cheaper the property, the less deposit you’ll need and the lower the minimum household income required by the lender. Not all lenders have minimum income requirements but many do - for example, a mortgage of £238,500 (assuming a 10% deposit is put down for the property value of £265,000) could require a household income of £53,000 a year.
If putting your stamp on your first home sounds too time-consuming, new homes for sale in Chichester are available with developers creating stylish and modern properties in and around the city. Whatever you opt for, our brokers have the connections and access to the market to source you an affordable mortgage with a lender that’s more likely to approve you, based on an eligibility check. Find out more about affordable housing schemes, cashback incentives and other ways you could save money as a first-time buyer today.
Switching your mortgage to a cheaper deal can be a great way to save money, move to a contract with more flexibility or change the amount of time you repay your loan over. Some people remortgage with a lender for a shorter term, opting to either increase their repayments or pay a chunk off using the increased value in their property as equity. Others remortgage to borrow more and increase their term time, using the money to make home improvements or just enjoy with their family.
Whether you’re employed, nearing retirement, a contractor or a company director, there could be a lender available in Chichester with a new agreement that suits what you need now, as opposed to the contract you’re currently on, which you may have taken out years ago. So much has changed in the property market, including property prices, so you may even be one of the thousands of Brits sitting in a home worth more money than you realise.
We also help hundreds of people that are approaching the end of their fixed-rate deal, curious about whether they should remortgage or stick with their current lender. Usually, once a fixed-rate period ends, you roll onto your lender’s standard variable rate and that can be more expensive. Why pay more? Have a remortgage broker check what options are available to you and calculate the most advantageous route.
Home Mover mortgages
Like much of the rest of the UK, properties in Chichester are snapped up shortly after being released to the market. Getting a home mover mortgage in good time can help you put an offer on your next house with the confidence that you have the finance behind you.
Some estate agents don’t even allow viewings unless the potential buyer has a mortgage in principle (MIP) because with so many people interested in buying property, they need to filter through and pay attention to the ones who are in a position to actually buy.
When you check your eligibility for a mortgage with a qualified broker, they can quickly, yet professionally find you a mortgage in principle with a bank or lender that has an affordable agreement and importantly, criteria that you can meet.
There’s no use applying to the first lender you find on Google without knowing whether you’re the right candidate for their mortgage product. Lending criteria can be tough but even people with credit issues or fluctuating income may be matched with a suitable lender in Chichester, or within the rest of the UK.
Save yourself some time and have a broker do the leg work and searching for you so you find the right lender the first time. Getting a MIP can put you in a good position to start viewing your next home and making a serious offer that gets accepted, so ask a Mortgage Hut advisor to get started on your case when you’re ready.
West Sussex is a magnet for tourism so it’s no surprise that many investors seek to buy property to rent out as a holiday let in Chichester. Pubs, restaurants, arcades and the quintessential coast draw in thousands of holiday makers each year, many seeking self-catering accommodation in the form of a cottage, family friendly home or seaside apartment.
It’s not just visitors to Chichesters that make the city financially attractive to landlords, it’s the 25,000 locals too, many of whom need year round, long-term lets. The average rental income for a landlord providing a two bedroom house is £1,240 per calendar month. Depending on the terms and conditions of the mortgage agreement arranged to finance the BTL purchase, that could prove profitable for an investor.
Houses of multiple occupancy are also an option. HMOs are usually popular with seasoned landlords that are used to renting out to students or working professionals seeking shared living space but newbie investors can find this type of investment is a great way to get started and provide themselves with a steady income.
There are lots of different types of BTL mortgages so finding the right one for your situation is crucial to your profit margins. Get advice from a broker that specialises in BTL mortgages and compare the options, looking at interest rates, arrangement fees, term lengths and early repayment charges. These factors affect how much you can make overall and your broker will understand just how important that is to you.
How does the process work with The Mortgage Hut?
When you contact The Mortgage Hut, an advisor takes the time to grasp what you’re looking for and then if you’re happy, they can connect you to a broker that’s in the best position, with the right experience to get it sorted for you.
You don’t have to come into the office if you’d rather not, we can send everything over to you via email and our brokers can communicate via a way that best suits you, whether that be on the phone, WhatsApp, Skype or of course, over a face-to-face appointment with a nice cup of tea.
If you’re the kind of person with lots of questions - great! We can answer them clearly and without judgement. Don’t be afraid to disclose bad credit issues or income variations, our team helps people everyday with all kinds of circumstances and they’re human too.
What to expect from a broker at The Mortgage Hut
We know that you’re busy and that’s the beauty of having a broker - they do all the leg work for you and speak with your estate agent and surveyor so you don’t have to keep looking at your emails for notifications that you don’t have time to deal with.
Find out more about what your mortgage options are, whether you’re employed, self-employed, a limited company director, on maternity leave or retired.
Qualified mortgage brokers who provide a comprehensive comparison of lenders within Chichester and the rest of the UK.
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Find me a mortgage
Send us your questions and we’ll get you the answers you need. The Mortgage hut team are available in a manner of ways to make it as easy as possible for you to get in touch, so whether you prefer to see an expert face-to-face, talk over the phone, via Zoom or our online chat, we’re here for you.
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