A little like finding the perfect house, matching mortgage requirements to the right lender is a very individual and delicate process that requires knowledge and expertise to ensure it’s a complete fit for your long-term requirements.
It’s not always easy to know what the right mortgage product is for you – or even finding out if the product you think you want is available to you.
At Oportfolio we work hard to get a comprehensive understanding of your needs – not just in the here and now, but also over the longer term. When we do that, we’re able to make sure we recommend a loan that will be suitable for your future plans as well as the ones you have today.
Different life stages will open up (or close off) your options of securing different products.
As a first-time buyer you may need a good deposit to get the best deal, but also schemes like Help-to-Buy and other Government supported initiatives could help you get your first step on the housing ladder.
Knowing what’s available to you can be one of the keys to securing the mortgage you need and that fits your financial situation.
If you’re remortgaging with a new lender rather than your existing lender, there may be loyalty offers and new customer incentives to work through.
And your reason for remortgaging – whether that’s to extend your existing home or to take advantage of more attractive terms or interest rates – may also impact the product choice available to you.
Equally, the number of years left before you reach retirement age can also have an effect on what’s available to you, often in terms of the duration of the loan a lender will allow.
If you are closing in on the statutory retirement age, for example, some lenders may require you to repay your mortgage more quickly, meaning higher monthly repayments over a shorter amount of time to ensure the loan is repaid while you’re still likely to be earning.
Pension mortgages can be offered with a very different set of criteria around them and so, even if you have previous experience of the mortgage application process, people often need an expert to run through the intricacies of this type of loan.
Similarly, mortgages for buy-to-let and second properties are a little more involved than a mortgage for your main home, whilst the pros and cons of interest only versus repayment loans all require proper thought and planning.
When you work with Oportfolio mortgages, we’ll go through every detail with you to ensure the product with the best fit for your needs is the one you end up with.
Every application is unique and unless you’re a mortgage expert it can often be hard to understand exactly what’s available and whether you’re eligible for the product you might want.
Working out who will and lend to you and who won’t, and what product to choose can be a minefield … one that can be a lot easier to navigate with an expert by your side.
We know the lenders and their lending criteria, and by making sure we have a thorough understanding of your current financial circumstances we can match you to a lender who is most likely to offer you the product that best suits you, limiting the risk of your application being denied.
If you’re thinking of remortgaging or applying for a new mortgage, why not get in touch and one of our expert advisers like Jade can talk through your situation and explain how Oportfolio can help you to get the best possible mortgage match for your life and home, today and in the future.
Oportfolio mortgages Limited is an appointed representative of Primis Mortgage Network, a trading name of First Complete Limited which is authorised and regulated by the Financial Conduct AuthorityYour property may be repossessed if you do not keep up repayments on your mortgage.Oportfolio Ltd fees are payable on application. We charge a broker fee for property purchases of £495 and a remortgage/further advance fee of £395. Our product transfer fee is £295.
