FCA approved mortgage brokers covering Guildford
The financial conduct authority regulates our team of brokers and while we uphold values such as honesty and integrity regardless of their watchful eye, having them behind us gives you an extra layer of assurance. We’re here to help, not push anyone into making a financial decision that’s not quite right for them and that’s why we take the time to explain the little details that other brokers might skim over in order to get you signed up.
Accurate advice is good advice. We don’t sugarcoat your options but we also understand that asking for information about mortgage lenders is a little daunting, especially if you have adverse credit or a financial situation that is a little out of the ordinary. Our experts are CeMAP qualified and use their knowledge and access to over 90 lenders to present you with the most viable options.
Convincing you to apply to a lender that is unlikely to approve you simply isn’t our style. Clear, accurate and honest advice is our ethos and we’ve proven time and time again that it’s the best way to find people a mortgage that works for them.
We provide advice throughout Guildford including in:
Bellfields
Burpham
Charlotteville
Guildford Park and Dennisville
Jacobs Well
Merrow
Onslow Village
Park Barn
Stoughton
Slyfield
Stoke
Westborough
From application to completion
A good mortgage broker doesn’t just find you a mortgage deal and then leave you to it. Taking that application from the start to getting approval is what makes our service stand out. We don’t hide the list of lenders from you either, whereas many brokers simply select a lender based on their knowledge of your circumstances and with your approval, begin the application.
It’s the little details that matter when it comes to finding an agreement that works for you. Your situation will be completely different to someone else's, so our brokers never just rely on their own expertise. Listening to what you need and whether you might want to remortgage once your fixed rate period comes to an end is what makes a deal worthwhile as a whole.
Interest rates are important but there are so many other factors at play to consider, like arrangement fees, cashback incentives and remortgaging fees for the future. Once you know all these things, you’re in control and can make an informed decision rather than just going with the first lender your broker recommends.
First-time buyer mortgages
There are lots of banks and lenders available to the people in Guildford but casting the net wider gives you a better range of options. As a first-time buyer, saving money will no-doubt be important and one of the ways to achieve that is by finding a lender with an affordable deal which is why a Mortgage Hut broker compares lenders right across the UK.
The quality of the mortgage deal you receive is reliant on accurate information from you, so get your documents ready, like your proof of ID, bank statements and SA302 forms if you’re self-employed. Your broker isn’t there to judge your situation but to analyse your circumstances and find the most viable option to save you money.
The size of your deposit might be weighing on your mind. Your broker can work out how much you can afford to borrow and the amount of deposit you’ll need to put down to make moving a reality. There are 5% deposit schemes with a selection of lenders but keep in mind that having a larger deposit might make your mortgage repayments cheaper overall and could allow you to access deals with a lower interest rate.
A larger deposit also helps to reduce the chance of you falling into negative equity, which is when you owe more money on your mortgage than your house is worth. While house prices continue to rise in 2022, that’s not a given for the future, so if they drop suddenly and you only have a 5% stake in your property, you expose yourself to this risk.
Whatever your situation, buying in Guildford, where the average two bedroom house price is £409,575, is possible by listening to your broker’s advice and actioning the practical steps they give you. Even if you’re not quite ready to make an application, ask for help now so you’re on the right track and who knows, you could be out of that rented one bed flat or out of your parent’s house sooner than you think.
Remortgaging
Remortgaging your home or buy-to-let investment is a great way to keep on track of whether you’ve really got the best deal. Lots of property owners forget to remortgage during their mortgage term despite the fact that most fixed-rate periods end between 2-5 years. Once your fixed rate period is over, you’ll likely jump to your lender’s standard variable rate which is usually more expensive.
Don’t pay more on your mortgage than you should. While remortgaging might not always save you money, it’s always worth checking with a broker who can calculate any hypothetical repayments with a new lender, or, a new deal with your current lender. They’ll factor in the cost of exit fees or early repayment charges, so you get the full picture before you make a decision.
Your property may even be worth more money than what it was valued at when you initially took out your mortgage and if your affordability is deemed good by a lender, you might be able to remortgage and access the equity you’ve built up, plus the additional value. The average price for a semi-detached house in Guildford increased by 14% from 2021-2022, whereas a detached house increased in value by a staggering 29%.
Refinancing a property is often, though not always, cheaper than taking out a personal loan or credit card, so if you need to consolidate debt or access money, you can ask a Mortgage Hut broker to check what your options are before applying for credit elsewhere.
Home Mover mortgages
A home mover mortgage is no different to a standard mortgage. It’s simply the process of getting a new mortgage when you move house so the mortgage is suitable for the house you’re moving into. Lots of people we speak to wonder why they can’t just port their current mortgage deal to their new property.
Every property is unique, with different features like, for example, a thatched roof, a balcony or recently added extension. These details will matter to your mortgage lender who needs the assurance that the property is easy to sell because if you default on your repayments, they might have to repossess and sell it to settle your loan.
It might be the case that your current lender is happy to mortgage your new property, even if it’s worth more than your previous one but remember, you’ll still need to go through affordability checks, to determine whether your current income, credit history and circumstances as a whole, allow you to manage the new repayments for your next property.
The Mortgage Hut can help you find a lender with an affordable agreement, whether you want to borrow more and upsize or borrow less and downsize. Guildford could be your next location and the place you call home. Our experts can help you make your move with the finance you need on an agreement with terms and conditions that make sense for your situation.
Buy-to-let mortgages
The commute from Guildford to London is a moderate journey at just 1:25 minutes and unsurprisingly, making Guildford a popular choice of location for working professionals who don’t want to pay the extortionate cost of rent in the capital.
Guildford also has the appeal of docks and plenty of green space, making it a good compromise for families with a working parent but kids that need clean air and an abundance of parks.
Rent has fluctuated over the past couple of years as demand has risen and in 2022, the average rent per month for a two bedroom property is £1,694. It’s not unfeasible that a buy-to-let landlord could make a fair profit with the right location, property and buy-to-let mortgage deal.
That’s where The Mortgage Hut can help. Our brokers can calculate the rental yields for various properties that you have your eye on and of course, calculate the mortgage repayments for each option with a variety of lenders. They can also compare different types of BTL mortgage arrangements, like interest-only and capital repayment.
Ultimately, it’s your decision but knowing what your options are and how they financially affect you can help you make a plan and start viewing potential investment opportunities.
How does the process work with The Mortgage Hut?
However you decide to contact us, you’ll be appointed the right expert that’s best placed to help you. We have brokers that specialise in first-time buyer mortgages, bad credit mortgages, buy-to-let mortgages and in-house specialists that know where to look for the best self-employed mortgage deals. You’ll be treated as an individual and listened to from the get go. It’s how we get to know exactly what you need and how we can use our skills to find the best solution.
Your eligibility will be checked before any lender or deal is recommended to you. Doing this helps to reduce the likelihood of you getting rejected by a lender, so when it comes to you applying, you’re confident that you meet their criteria.
It’s your broker’s job to thoroughly check your application for any errors like misspelt words or inaccurate information and once you and they are both satisfied, your application goes to your chosen lender. This is the exciting part and when you get approval, your broker will let you know as soon as possible. They’ll make sure that your solicitor is kept in communication, saving you the job and giving you reassurance that everything is under control.
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 Guildford 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.