Let Us Help You Find a Mortgage

Independent Mortgage Brokers Taunton

Want to speak to a mortgage broker in Taunton? We provide completely independent mortgage advice tailored to your individual needs. With access to the whole market, our advisors 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 mortgage brokers in Taunton, Somerset, 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 our expert knowledge of all types of mortgages and the Taunton local area.

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 brokers who can provide tailored mortgage advice in Taunton.

How Our Taunton Mortgage Brokers Can Help

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 advice from an independent mortgage broker in Taunton 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 Taunton. 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 Taunton mortgage brokers today and learn more about your options with a free initial consultation.

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Enquire Now To Speak To a Mortgage Broker in Taunton

Why Choose Us For Mortgage Advice in Taunton?

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 brokers have access to the whole of the market, including products not available from high street lenders.

We Are On Your Side

Our Taunton 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 Taunton. 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 Taunton. We will assess all that you can realistically afford and guide you through Your Mortgage Options.

Mortgage Broker Taunton FAQs

A mortgage broker, sometimes also referred to as a mortgage advisor, acts as the middleman to arrange a mortgage between you (the borrower) and the lender. As independent mortgage brokers in Taunton, we keep your best interests in mind to provide genuine and unbiased advice. Our duty of care is towards you, not the lender and we always justify any recommendations we make.

First, our brokers will get to know you and your circumstances. This includes your financial situation, as well as what you are looking to achieve. We’ll then search the market and present you with your best options, tailored to your exact needs. Our expert knowledge of the Taunton 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.

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 Taunton, 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 Taunton are affordable.

While lenders usually prefer at least 10% of the property value as a deposit, many offer first time buyers in Taunton 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 Taunton 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 Taunton, 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 Taunton, to find out which mortgage term would be best for you and your situation.

Speak to an Independent Mortgage Broker in Taunton