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The mortgage and property market are inextricably linked. Mortgages are no longer easily available,
simple or straightforward. For these reasons, we have decided to offer detailed mortgage advice as
an integrated part of our service. We have engaged high quality people with skills and experience
of the mortgage market as well as the wider financial world so that we are able to help clients
understand their options. It’s not a case of one mortgage fits all, every client’s situation is unique
and therefore a different approach and strategy is required for each client. This is very much a
personal service, tailored to each client’s needs.
We help our clients in a variety of ways:
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We are not restricted to certain lenders, we search the whole of the mortgage market,
including specialist lenders as well as high street names, finding the mortgage most suitable
to each individual client. We can secure exclusive and semi-exclusive mortgage rates that are
not available to direct
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It’s not just new mortgages that we offer advice on, often we can re-arrange a client’s
existing mortgage as it may no longer be meeting their needs or may be too expensive, the
goal here may be to save them money. Sometimes a monthly reduction in regular mortgage
payments can be the saving that makes the difference in the affordability of a new property
thereby allowing the client to buy their dream home
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We also offer clients impartial and independent advice on all types of life assurance policies.
Again, we are not restricted to certain life companies, we can search the whole of the
market to find the most suitable and cost effective policy tailored to each clients’ situation
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We also assess clients’ existing life assurance policies which are linked to their mortgage to
see if we can obtain more preferential rates and reduced premiums. At a time when most of
us would like to save money without reducing the amount of valuable cover we have been
able to reduce the cost of life cover enabling clients to consider offering that little bit extra
to secure the home they want, all supported by the help and information from the Handheld
Mortgages team
- For instance, two examples below of how we have been able to help clients: Example 1 – by explaining that if the clients put down a deposit of 25% instead of 23% the mortgage interest rate dropped by 0.4% a saving of £58.00 per month. The clients also had an existing life assurance policy costing them £50.90 per month but they needed to increase this by £50,000 in line with their new mortgage. We were able to source a brand new policy which provided not only the existing level of cover but the extra £50,000 plus critical illness cover with a premium of just £62.45 per month.
So basically by taking our advice the client reduced their monthly mortgage payment, increased their life assurance by £50,000 and added critical illness benefit for an overall increased monthly cost of just £11.55.
Example 2 – these clients were on standard variable mortgage interest rate which they felt was very favourable at 3.99% however this rate would increase as and when base rate increases. They had remained with their existing lender as they felt the costs of changing would cancel out any reduction in payments. We arranged a fixed rate mortgage for them of 3.19% fixed for three years which meant that without taking into account any potential interest rate rises they saved £1,200 over the period. They were very happy to learn that this could be achieved with free legal fees, free valuation and no arrangement fees.