Taking on a mortgage is a big financial decision, in fact one of the biggest you will ever make, so getting the right advice for you is important. Our mortgage advisers have access to the whole of the market and can find the right fit for your circumstances and needs.
Amongst the mortgage solutions we can offer: -
- Residential mortgage
- First-time buyer
- Offset mortgage
- Commercial property purchase (potentially via a pension)
Our most popular mortgage solutions are listed below:
First time buyer
There are many factors a first-time buyer may need to consider before purchasing their first property. Assessing how much you can afford to borrow, taking advantage of the services available and purchasing the right protections that are relevant to you.
Our role is to offer guidance and advice as to the best way to take the first steps on the property ladder.
The housing market is continually changing. If the fixed or promotional period of your mortgage is coming to an end it's worth checking to see whether you could move to a better deal. Re-mortgaging could lower your interest rate or allow you to borrow more money against the value of your property.
Broom Consultants Ltd. can assess your current mortgage arrangement and compare it to other products available. When considering a re-mortgage many factors will affect your ultimate decision. Our role is to provide you with the right independent information to make the right choice at the right time.
Buy to let
If you have the available capital, buying a property to rent it out can provide a good income in addition to any increase in the value of the property over time.
Whether you are just starting or already have a property portfolio, Broom Consultants Ltd. can help you to review the market and specialist mortgage packages for landlords from different lenders. We have great experience in matching your strategic needs to a mortgage with the right conditions and aim to advise you in making the right decision. In addition we can also make suggestions as to other protections and insurance you may wish to consider.
Please click the below link to view an instructional video from Canada Life explaining what a buy-to-let mortgage is and the benefits of using one.
An offset mortgage uses the value of your savings to offset the interest due on your mortgage. This could be used to lower monthly payments or reduce the term of your mortgage whilst keeping your savings accessible when needed.
Equity release is a way of raising money from the value of your home.
We can look at all your options for releasing a part of the value of your home in return for a cash lump sum, or income to spend as you wish. There are advantages and disadvantages, so it is important that you get expert advice and talk it over with your family, to ensure you choose the best plan to fit your needs.
Equity release will reduce the value of your estate and can affect your eligibility for means-tested benefits.
Please click the below link to view an instructional video from Canada Life explaining what a Equity Release mortgage is and the benefits of using one.
We are a full member of the Equity Release council, please click the below link to view our profile on the Equity Release Council's website.
The Equity Release Council is a consumer trade body representing the key themes of:
- Authoritative : To be at the vanguard of substantiated, credible, evidence-led market insights, knowledge and data.
- Progressive: To be the advocate of market change, innovation, betterment and reform.
- Incisive : To have clarity of thought, commitment of decision making and the rigour to deliver the right solution.
- Trustworthy: To inspire confidence, reliability and transparency across all stakeholders.
When faced with the need to arrange finance it is important for your business to assess the relevant options to suit your immediate and future plans. Our role is to assist in seeking the most appropriate solution.
The affordability calculator gives a quick indication of the likely amount you may be able to borrow based on your household income and expenditure.
It takes account of your income before tax and fixed monthly outgoings. You should include significant monthly costs like childcare and travel. You can exclude day to day expenses such as food shopping and utility bills.
This calculator gives a simple guide to potential lending based. There are lots of factors that will affect affordability and how much a lender will loan.
Stamp Duty calculator
Use the official HM Revenue and Customs’ (HMRC) Stamp Duty Land Tax calculator to work out your potential tax liability.
The mortgage payment calculator will help to estimate your monthly mortgage payment. Simply enter your mortgage amount, interest rate and the term in years.
The results displayed give a guideline to your monthly payments based on the information input.
The interest only option only covers the interest on the mortgage and doesn’t pay any of the amount owed back. If using an interest only mortgage you should ensure you have an investment to pay off the mortgage at the end of the term.
The value of property investments and income from them can go down as well as up and investors may not get back the amount originally invested.
As a mortgage is secured against your home/property, it may be repossessed if you do not keep up repayments.
Commercial buy-to-let mortgages are not regulated by the Financial Conduct Authority.