Mortgages

Our proactive approach enables us to monitor the market for potential rate changes and where possible, allow us to change your rate ahead of completion.

Thanks to our expertise and unwavering dedication to our clients, we’re equipped to support you in finding a suitable mortgage product, regardless of your personal circumstances or reasons for refinancing your home.

Thanks to our expertise and unwavering dedication to our clients, we’re equipped to support you in finding a suitable mortgage product, regardless of your personal circumstances or reasons for refinancing your home.

This involves transitioning your current mortgage to a new deal with a different lender. Typically, this occurs when your current mortgage deal is ending or when you’re seeking a more favourable interest rate, terms, or wish to release equity from your property. With our expertise, we manage the entire process, helping you secure the most suitable deal based on your circumstances and lenders’ criteria.

Opting for a product transfer means switching to a new mortgage deal offered by your current lender, without the need to change lenders. Unlike remortgaging, this process doesn’t involve borrowing additional funds and it doesn’t require conveyancing. We handle all the paperwork and administrative hassle, ensuring a smooth transition to a better deal with your current lender.

At Mr and Mrs Mortgage Broker, our mission is to make refinancing your property as hassle-free as possible. Let us handle the work while you focus on more enjoyable pursuits.

In the midst of all this hustle and bustle, overlooking the most suitable mortgage deal is genuine concern, potentially leading to higher payments or extended repayment terms. That’s why it’s crucial to carefully explore your current mortgage options. While transferring your mortgage with your current lender to the new property is an option, it requires careful consideration.

Luckily, as your dedicated mortgage advisors, we’re here to take charge of navigating all available options on your behalf. With access to a diverse and wide array of lenders, we’re equipped to secure the ideal deal tailored precisely to your needs. Our expertise lies in meticulously evaluating charges, fees, and terms to pinpoint the most favourable rates for you.

We provide insights into borrowing limits, mortgage terms, rates, and monthly payments, alongside securing an Agreement in Principle. We handle the entire application process, collaborating with lenders, solicitors, and estate agents, allowing you to focus on envisioning the layout of your new home and practicalities of moving home (schools, utilities, change of addresses, etc).

With these mortgages, the interest rate can fluctuate according to changes in the lender’s standard variable rate (SVR) or the Bank of England base rate. There are different types of variable-rate mortgages, including tracker mortgages and discount mortgages.

Tracker mortgages follow the movements of a specified interest rate, usually the Bank of England base rate, plus a set percentage. This means that when the base rate changes, the mortgage interest rate changes accordingly.

Discount mortgages offer a discount on the lender’s Standard Variable Rate (SVR). The interest rate can fluctuate with changes in the SVR.

With offset mortgages, the borrower’s savings are linked to their mortgage account. The amount of savings is offset against the mortgage balance, reducing the interest charged. Borrowers can still access their savings if needed but will pay interest on the reduced mortgage balance.

With interest-only mortgages, borrowers only pay the interest on the loan each month, with the capital amount being repaid at the end of the mortgage term. These mortgages are less common and typically require a repayment vehicle, such as an investment or savings plan, to cover the capital repayment.

In repayment mortgages, borrowers pay both the interest and a portion of the capital each month, ensuring that the mortgage is fully repaid by the end of the term.

Income from traditional employment, where the borrower receives a regular salary or wage from an employer. Lenders typically require 1 to 3 most recent payslips and P45 as proof of income stability.

Income earned through self-employment as a sole trader. Self-employed borrowers typically need to provide tax calculations and tax overviews (ie SA302) for 2 years to demonstrate income reliability.

Income earned through self-employment as a Limited Company Director. Self-employed Directors typically need to provide tax calculations and tax overviews (ie SA302) for 2 years to demonstrate ‘Dividend’ income, business accounts for  2 years to demonstrate income reliability and business bank statements to show current cashflow.

The Construction Industry Scheme (CIS) is a UK tax system for construction contractors and subcontractors, where contractors deduct tax from subcontractors’ payments to pass to HMRC. Unlike standard self-employment, where individuals manage their own taxes, CIS ensures tax compliance through these deductions. Depending on lender, CIS income can be treated as either employed income or self-employed income. At Mr and Mrs Mortgage Broker, we know how important it is to present you to the right lender based on your needs and circumstances, providing tailored mortgage advice and support to navigate these complexities within the construction sector.

Income earned through sales commissions or performance-based bonuses may be included, typically requiring evidence of a stable commission structure.

If you own rental properties, the income generated from rent can be used to qualify for a mortgage. Lenders may require rental agreements and proof of consistent rental income.

Income from investments such as dividends, interest, or capital gains can be considered, although lenders may apply different criteria for assessing investment income stability.

Retirement income from pensions, annuities, or other retirement accounts may be used, with lenders typically requiring evidence of regular payments.

Certain government benefits or allowances, such as child support or disability payments, may be considered as part of your income for a mortgage application.

Each type of income is assessed differently by lenders, and eligibility criteria may vary. It’s essential to provide accurate documentation and consult with us to determine which income sources can be used effectively in your mortgage application.

We will assess your credit history comprehensively to understand the extent of the adverse credit issues and their impact on mortgage eligibility. We will review credit reports and advise on steps to improve creditworthiness if possible.

Mr and Mrs Mortgage Broker have access to a wide range of lenders, including those specialising in providing mortgages to individuals with adverse credit. These lenders may have more flexible eligibility criteria tailored to borrowers with past credit issues.

Based on your financial situation and credit history, we can provide personalized advice and recommend mortgage products that suit your needs. Mr and Mrs Mortgage Broker can explain the terms, conditions, and requirements of each option, helping the borrower make an informed decision.

Mr and Mrs Mortgage Broker assists you throughout the mortgage application process, helping you complete paperwork accurately and efficiently. We liaise with lenders, solicitors, and other parties involved, helping towards a smooth and timely application process.

Even after mortgage approval, we continue to provide support, answering questions and addressing concerns you may have. We ensure you understand your mortgage terms and obligations, helping you to manage your mortgage effectively.

Overall, working with Mr and Mrs Mortgage Broker provides individuals with adverse credit access to a wider range of mortgage options and professional guidance tailored to their unique circumstances. By leveraging their expertise and industry connections, we could  increase the likelihood of obtaining a mortgage despite past credit issues.