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Independent Mortgage Brokers Blackburn

Your Mortgage Options provides independent mortgage advice in Blackburn. With access to the whole of the market, our team of experienced professionals explore all of Your Mortgage Options to find and arrange the right mortgage that is most closely suited to your individual needs.

When buying a home, you might feel that you need help to decide which type of mortgage is the most appropriate for your needs and circumstances. From the information you give us, our team of Mortgage Brokers in Blackburn will search the market in its entirety and find the most suitable mortgage to suit you. With so many Mortgage Options to explore it can feel somewhat overwhelming at first, which is where we come in to help with our expert knowledge of all types of mortgages and of the Blackburn local area.

Whether you are a first time buyer or self employed or perhaps you have a “less than perfect” credit history.  We’ll tailor our search to you. We can also provide professional advice if you are looking to secure bridging loan finance or to release equity from your home.

We are specialists in mortgages of all kinds: Residential and Commercial, Self build and Flexible, Offset and Retirement Interest Only, the Mortageg Options seem almost endless. Speak to one of our capable and friendly brokers who can provide tailored mortgage advice in Blackburn today.

How Our Blackburn Mortgage Advisors Can Help

For most people, buying a property and getting a mortgage is one of the biggest financial decisions that they will ever make. It’s a decision that you certainly don’t want to risk getting wrong, which is why getting impartial advice from an independent mortgage broker in Blackburn could be considered a smart move. Previously, you might have been able to speak to your bank manager about getting a mortgage, but this is very rare nowadays and it also limits your options to just the one lender.

People of all ages and financial positions can benefit from professional mortgage advice here in Blackburn. 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 from the whole of the market. 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 Blackburn mortgage brokers today and learn more about all Your Mortgage Options with a free initial consultation.

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Why Choose Us For Mortgage Advice in Blackburn?

Whole of Market Access

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

We Are On Your Side

Our Blackburn Mortgage Advisors work for you and not the lenders, and so our commitment is to you. So they 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 Blackburn. We also handle the whole process end to end, including assisting with any paperwork and even help with arranging solicitors and conveyancing.

We Consider Your Circumstances

We take the time to properly understand your specific circumstances. This helps us to find the right mortgage that works for you and your family in Blackburn. We will assess very carefully, all that you can realistically afford and then talk you through Your Mortgage Options.

Mortgage Brokers Blackburn FAQs

A mortgage broker, commonly also known as a mortgage advisor, acts as an intermediary to arrange a mortgage between you (the borrower) and the lender. As Independent Mortgage Brokers in Blackburn, we keep your specific circumstances in mind to provide impartial and unbiased advice. Our duty of care is towards you, not the lender and we always justify any recommendations we make.

First off, our brokers will get to know you and your personal circumstances. This includes your past and current financial situation, as well as what you are hoping to achieve. We’ll then search the market and present you with your best options, tailored carefully to suit your personal situation. Our expert knowledge of the Blackburn housing market means we can identify the best lenders and mortgage deals available. We are able to assist throughout the whole application process, so you can keep your focus on what’s important to you and yours.

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 (also known as a broker) and getting expert mortgage advice in Blackburn, 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 have a better understanding of which properties in Blackburn are affordable.

While lenders usually prefer at least 10% of the property value as a deposit, many offer first time buyers in Blackburn 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 expert mortgage brokers in Blackburn for tailored advice, 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 in the early stages of buying a property and thinking of reaching out to a mortgage broker in Blackburn, the sooner the better. Involving a mortgage advisor at the beginning of the process gives us more opportunity to help you in your search for the right mortgage. You’ll also save a great deal of stress and the 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. Speak to a mortgage broker sooner rather than later to take this weight off your shoulders.

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 Blackburn, to find out which mortgage term would be best for you and your situation.

According to Rightmove

Properties in Blackburn had an overall average price of £145,023 over the last year.

The majority of sales in Blackburn during the last year were terraced properties, selling for an average price of £99,031. Semi-detached properties sold for an average of £151,023, with detached properties fetching £252,802.

Overall, sold prices in Blackburn over the last year were 3% up on the previous year and 5% up on the 2018 peak of £137,553.

According to Blackburn and Darwen Borough Council there are over 4,900 businesses  in the borough which contribute to about 9% of the wider Lancashire business base and the area is home to the largest number of businesses of the Pennine Lancashire authorities. A range of sectors operate in the borough. Five main areas make up over half of the businesses in the borough.

These are:

  • professional scientific and technical services
  • retail
  • business administration and support services
  • manufacturing
  • construction

As well as a 10 screen Vue cinema and Bowlplex Blackburn in the town centre there is also Blackburn Catherdral, the Blackburn Museum and Art Gallery and the Darwen Tower. There is also The Peel Centre in Blackburn, which is a Shopping and Retail Park with a variety of outlets with something to suit just about everyone.

Mortgage Broker Blackburn - Enquire Online