The Mortgage Hut team is here to help you find your mortgage without the tedious task of scrolling and comparing lenders in Worthing and West Sussex yourself. Leave the paperwork and running around to us while you sit back and focus on the things you love.
FCA approved mortgage brokers covering Worthing
Our experts are CeMAP qualified and use their knowledge and access to over 90 lenders to present you with the most affordable options. The advice they’re trained to give is regulated by the financial conduct authority (FCA), who are responsible for ensuring that financial markets work well and that consumers get a fair deal.
The Mortgage Hut only works with trusted professionals that can be relied upon to give clear, accurate and honest advice, regardless of the watchful eye of the FCA.
These standards are expected to be upheld by any mortgage advisor that represents The Mortgage Hut and we’ve found that working with genuinely good people, with good intentions, is the best way to make sure that standard never drops.
We provide advice throughout Worthing and West Sussex including in:
Buckingham
Churchill
Cokeham
Eastbrook
Hillside
Manor
Marine
Mash Barn
Peverel
Southlands
Southwick Green
St Mary's
St Nicolas
Widewater Ward
From application to completion
Finding you a selection of great lenders is just the start. When you have a good mortgage broker on your side, making a mortgage application doesn’t feel like the mammoth task it used to be. They take away a lot of the chores like filling out the application, spell checking and proofreading any documents and information provided by you and even chasing up the other professionals involved in the buying process, like your estate agent, surveyor and solicitor.
You’re busy and they get that, plus having an expert manage the process means you’re not worrying that you’ve filled out something wrong that could cause a delay. Buying a house takes on average between 4-6 months but our team works fast with clarity and precision, doing everything they can to speed up that process and get you the finance needed to make a purchase final.
First-time buyer mortgages
Just 10 miles from the bustle of Brighton, it’s no surprise that first-time buyers frequently ask us about how to get a mortgage for their first home in Worthing. Many work in Brighton but can’t afford the soaring property prices and Worthing presents a more affordable option for those happy to make the short commute while not having to negotiate on living by the sea.
If living by the coast in reach of neighbouring Chichester and Brighton appeals to you, ask a broker to look at your options. The type of mortgage deals that will be available to you will depend on your circumstances including your regularity of income, how much you earn, the size of your deposit and your credit history.
That’s not to say that you won’t be eligible for mortgage products without ticking all of the above boxes because we’ve helped hundreds of first-time buyers with fluctuating income or bad credit find an affordable mortgage. Every situation is different and the good news is that lenders vary with what they can and can’t accept on an application.
The best way to find a mortgage is to ask for help from someone with access to lots of lenders, have them check your eligibility so you know how much you can borrow and from where and take time to really consider the pros and cons of each lender’s agreement. A mortgage term can stretch over 35 years, so it makes sense to find a deal you’re financially comfortable with rather than choose the first lender you see.
Remortgaging
Remortgaging before your fixed rate deal comes to an end can be a great way to avoid paying more than you should for your mortgage. Once a fixed rate period is over, you’ll likely jump to your lender’s standard variable rate which is usually a lot higher. But it doesn’t have to be this way and you may be eligible to remortgage aka switch to a better deal either with your current lender or a new one altogether.
While remortgaging might not always save you money, it’s always worth checking with a broker who can calculate any hypothetical repayments. 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. From 2021-2022, properties in Worthing increased in value by an average of £7,700.
That could be good news if you want to access the equity and additional value locked away in your homes’ value. If eligible, you could remortgage based on the new value of your property and use the money for however you see fit, whether that be a holiday, to consolidate debt, to give to a child as a deposit for their first home or to make some overdue renovations.
Home Mover mortgages
Property prices in Worthing have increased by 2% since 2021, leaving the average market value of a home at £372,000. If you’re hoping to move to the area or perhaps you’re already a resident, the jump in price might have left you feeling dubious about whether moving is cost-effective in the current climate.
You might also be wondering whether you can port your current mortgage deal over to your next property. Your lender may be happy for you to stick with them under similar terms and conditions, however, despite already being a customer, you’ll still have to go through the standard affordability checks and a whole new mortgage application.
It won’t be a simple transfer because the circumstances under which you repay the mortgage are different due to the property changing, the new location and potentially your own personal circumstances, like a job move or change of income.
That’s why when moving, you might as well look at what’s available elsewhere - you’re going to have to do a mortgage application anyway, so it makes sense to check that you’re getting the cheapest deal possible rather than waste money. Talk to a broker and they can compare all the costs involved with a home mover mortgage so you know what the most affordable route is. They’ll also be able to manage your paperwork for you, including filling out the mortgage application.
Buy-to-let mortgages
Montague Street offers a range of shopping outlets, making areas like Central; Durrington; Goring; Heene and Marine sought after locations for working professionals and young families seeking convenience and a renowned foodie scene. Worthing in general has pretty easy access both to the coast and the magnificent South Downs. If you’re hoping to be a buy to let landlord or you’re already an investor looking for your next project, Worthing could offer good returns depending on the location you choose and the property you buy.
Another way to make your money go as far as possible and boost your returns is by finding a BTL mortgage with criteria you’re eligible for, an attractive interest rate and low fees. Interest rates are important but don’t be fooled by a low rate which could be masking a high arrangement fee or sticky terms and conditions which make it expensive for you to remortgage.
That’s where our team can help. They know what to look for in a good mortgage contract and can scrutinise a range of agreements saving you the hassle. They’ll find out what you need from your mortgage, whether you’re looking for an interest-only deal or would prefer the higher repayments of a capital repayment BTL mortgage. It’s what suits you and it’s their job to find a match that’s affordable and can give you the level of flexibility required for your situation.
How does the process work with The Mortgage Hut?
We like to get to know the people we help. It’s how we find the most suitable mortgage deal for you, so expect a friendly broker that listens and takes note of what you want and how much you can afford. We’re not pushy salespeople, we’re advisors, so if a product is too expensive or not quite the right fit for you, we’ll tell you.
Your appointed broker will check your eligibility 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.
Checking your eligibility will involve your broker asking for things like proof of income, proof of address and ID, and a run through your credit reports. They’ll also ask you about the type of property you want to buy because some will be classed as non standard constructions and be deemed as unmortgageable by some lenders. Not all banks and lenders take the same approach when it comes to unique constructions or properties with a less than usual layout, so if you’ve got your heart set on a trendy student apartment above a bar, ask one of our brokers about which lenders would be willing to approve that type of application.
Due to their experience and contacts, a broker at THe Mortgage Hut will have access to 90 lenders that work within Worthing and the rest of the UK. This means they may have a better chance of finding a deal that fits your criteria.
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 Worthing 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.