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Independent Mortgage Advice Birmingham

Your Mortgage Options provides completely independent mortgage advice in Birmingham. With access to the whole market, we’ll explore all of your options to find and arrange the right deal for you.

When buying a home, you need to decide which type of mortgage is the most appropriate for your needs and circumstances. From the information you give us, our experts in Birmingham  will search the market and find the most suitable products for you. With so many options to explore it can feel overwhelming at first, which is where we come in to help with mortgage advice in Birmingham.

Whether you are a first time buyer, self employed or if you have less than a perfect credit history, we’ll tailor our search to you. We can also offer guidance and advice if you are looking for bridging loan finance or to release equity from your home.

We are experts in mortgages of all kinds: Residential and Commercial, Self build and Flexible, Offset and Retirement Interest Only, the options seem almost endless. Speak to one of our experts who can provide tailored mortgage advice in Birmingham.

How We Help With Mortgage Advice in Birmingham

For most people, buying a property and obtaining a mortgage is one of the biggest decisions that they will ever have to make. It’s a decision that you certainly don’t want to risk getting wrong, which is why getting expert independent mortgage advice in Birmingham is the best route forwards. Previously, you might have you might have been able to speak to your bank manager about getting a mortgage, but this is less common nowadays and limits your options to just one lender.

People of all ages and financial positions can benefit from professional mortgage advice here in Birmingham. Whether you’re a first-time buyer, a property developer, somebody looking to remortgage or to release equity from your property, you’ll want to ensure that you are getting the very best deal available. Many are surprised to learn that even if they have a poor credit history, it’s possible to obtain a mortgage with the right advice. Speak to one of our Birmingham mortgage advisors today and learn more about your options with a free initial consultation.

Mortgage Advice Birmingham

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Why Choose Us For Mortgage Advice in Birmingham?

Whole of Market Access

There are many different types of mortgages so only looking at deals from one lender means you’re unlikely to end up with the best option. Our mortgage advisors have access to the whole of the market, including products not available from high street lenders.

We Are On Your Side

Our Birmingham mortgage advisors work for you not the lender, and will act solely in your best interests. You can therefore be confident that the mortgage we recommend will be the best available product to suit your circumstances.

We Do The Hard Work For You

At Your Mortgage Options we leave no stone unturned in our whole of market research here in Birmingham. We also handle the whole process end to end, including all the paperwork, solicitors and conveyancing.

We Consider Your Circumstances

We take the time to understand your individual circumstances. This helps us to find the right mortgage that works for you and your family in Birmingham. We will assess all that you can realistically afford and guide you through Your Mortgage Options.

Mortgage Advice Birmingham FAQs

The amount you can borrow depends on your personal situation, your household income and current credit commitments. All lenders have different ways of calculating what someone can borrow. They’ll take into consideration factors such as:

  • How much deposit you can put down
  • Type of employment
  • Your salary (combined if you’re buying with a partner)
  • Your monthly outgoings
  • Your credit history and rating

By speaking to an advisor and getting expert mortgage advice in Birmingham, you’ll have a much better understanding of how much you will be able to borrow. This will guide you on your house buying journey, as you’ll know what properties in Birmingham are affordable.

While lenders usually prefer at least 10% of the property value as a deposit, many offer first time buyers in Birmingham the chance to access 5% deposit deals as a way to get on the property ladder. These are known as 95% mortgages. However, a lower deposit typically leads to higher interest rates and less flexibility.

The more deposit you put in, the better the interest rate will be. For example if you have a 20% deposit then this will get you a better rate of interest than with a deposit of 10%. So saving up as much as you can for a deposit is usually advised.

Although, this all depends on your current situation. For example if you are renting you might want to buy as soon as possible, and getting together more than 5% for your deposit might not be feasible. Speak to one of our experts today for mortgage advice in Birmingham based on your unique circumstances.

A Repayment Mortgage is guaranteed to pay off the mortgage in full by the end of the term whereas an Interest Only Mortgage has monthly payments which cover only the cost of the interest and your loan amount will remain the same.

At the end of the term you would either need to sell the property to repay the mortgage or find another way to repay the loan.

If you’re thinking of enquiring about mortgage advice in Birmingham, the sooner you speak to and expert the better. Involving a mortgage advisor earlier on in the application process gives us more opportunity to help you and reduces the stress and disappointment of not being able to secure a mortgage that suits your needs.

Buying a home and taking out a mortgage is one of the biggest decisions you’ll ever make, so it helps to be able to draw upon the knowledge of a qualified professional. There’s also a lot to wrap your head around, especially if you’re a first time buyer, self employed, or if you’ve got a bad credit record.

The most common term for a mortgage is 25 years, but 35 year and even 40 year mortgages are also available. Longer term mortgages might come with higher arrangement fees and interest rates attached, but they can offer a degree of flexibility which is helpful for those whose income might fluctuate month to month.

For example if your deal allows you to make overpayments (which many do), you could pay extra on your monthly repayments when your income allows you to do so. If times become a bit tighter and your income is reduced, you could then revert back to repaying the smaller amount.

Get in touch today for mortgage advice in Birmingham, to find out which mortgage term would be best for you and your situation.

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