Q: How many years of experience does Private Wealth Mortgages have?
A: Our qualified and knowledgeable mortgage brokers have a combined 30 years of experience helping people choose the most suitable mortgage for their personal circumstances.
Q: What makes Private Wealth Mortgages unique?
A: Quite simply, service. When our mortgage broker business was founded it was on the principle that mortgage applications should be made simple and stress-free for our clients. Each of our brokers shares the same values – to deliver outstanding levels of customer service and guidance when it comes to obtaining a new mortgage. Over the years we have advised countless people, all with different requirements. We pride ourselves on always striving to help people get the mortgage they need, no matter how complicated their individual case
Q: Do you simply provide me with a list of mortgage lenders?
No. Our service includes a detailed assessment and review of your current personal and financial circumstances. Then, if we believe you are eligible to take out a mortgage and will be accepted by a bank or lender, we use this information to present you with a selection of mortgages. As an example, you may be self-employed and have difficulty understanding what kind of information you need to provide to a lender. Perhaps you are a first time buyer on a low income. Or maybe you are a couple with joint incomes, but one of you is planning to give up work in the next couple of years. Whatever the scenario, we can help you find mortgage options that give you financial security and help you plan ahead.
Q: What kind of information do you provide me with?
Once we have established the kind of mortgage you need, we will then provide a list of options to you. This will include the bank or lender’s name, an interest rate, a fixed term or variable term, and a length of the mortgage deal. There will be other information provided in more detail such as any penalty for the early repayment of your mortgage or the option to make overpayments and this will be set out clearly in a Mortgage Illustration. But of course you’ll also have one of our experienced mortgage brokers on-hand to answer any questions you might have.
Q: What happens if I can’t get a mortgage?
Any application for a mortgage is based on different financial criteria. Mortgage lenders and banks want to assess whether or not you can afford the repayments, so there will be a review of your income and outgoings and a mortgage will be stress tested to ensure you can afford it now and if rates increase in the future. Lenders will also take into consideration the amount of cash you have to put down as a deposit and any debt you may owe to other financial institutions.
If you are not accepted for a mortgage, it is likely the lender does not consider you to be a viable candidate who can repay the loan amount. However, this may not be the case forever. There are ways that you can improve your eligibility for a mortgage, including increasing the amount you put down in deposit or reducing any debt you owe. If you’re based in the Brighton area, we recommend you speak to a qualified and experienced mortgage broker before you make any decisions about your property purchase.
Q: Do I need to do mountains of paperwork to get a mortgage?
A: It’s true that there is plenty of paperwork to do when you apply for a mortgage. Fortunately, when you choose Private Wealth Mortgages you can relax knowing we do the heavy lifting for you. In fact, we have a team of administrators on-hand who can either help guide you through the paperwork required or – when appropriate – complete it on your behalf. It’s part of our promise to make the process of getting a mortgage and purchasing a property as enjoyable and pain free as it can be.