Buying your first home is exciting and terrifying in equal measure. Scraping together that deposit, checking your balance with the bank of mum and dad, feeling a little out of your depth? We know how scary buying your first home can be and we will stand by your side throughout the whole process. We'll explain every aspect as we go and find the best lender for you, saving you time and money trawling the high street banks. You have one dedicated contact from start to finish and our experts have an intricate knowledge of the whole property process. We can help you with surveyors, solicitors, we can speak to agents for you and answer any questions for you even if it's not about mortgages. Have a look at our review page and see what other clients have said about us.
You have a property and are looking to either upgrade or downsize and want some general advice, we're here to help. You may want to explore your current mortgage to see if you can take it with you to your new home (Porting). You may need a completely new mortgage, and we can look at the situation and analyse the options from the entire mortgage market to see what works best for you. Things to consider are; Do you have any penalties for leaving your current mortgage provider? If so, would the new rate with a new lender offset those costs by saving you money in the short term. Will your existing lender lend you enough additional money for you to be able to buy onwards? Different lenders have different income multiples. Has anything changed with your situation or income?
We cover all aspesct of rental properties you may be looking at, and may suggest other options you hadn't yet considered. Our mortgage brokers look at consumer buy to let, business buy to let, let to buy, limited company buy to let and HMO. There are as many things to consider when looking at investment properties as when looking at residential mortgages, and a wealth of options for all. We look at your position and what you want to acheive from your investment. Are you looking to have one rental in your own name to tide you over when you're looking to retire, are you looking to build a large portfolio in a limited company to replace your employment income? Whatever the situation we can offer you guidance and advice based on the entire mortgage market and your personal circumstances, including a taylored life insurance quote.
Contractors come in all different shapes and sizes and can find getting a mortgage quite difficult. We have a wealth of experience in placing contractor mortgages, and if you're employed or self employed, short term, long term, CIS, zero hour, rolling or umbrella company, we can asses your situation and let you know all the options available to you. Many lenders have specialist contractor criteria and are aware of the difficulties, there are even specialist contractor products with some lenders and it's always worth exploring all options before making your final mortgage decision. Speak to one of our independent brokers to see what options you might have.
Self-Employed people always worry about getting a mortgage and occasionally have had bad advice in the past from their accountants or other financial advisers. However, there may be more options open to you than you think. Some lenders will look to take an average of your latest 2yrs accounts, this may need to be backed up by three months business bank accounts to show sustainable income. However, others will accept retained profit in the business in certain circumstances, others may accept accountant references or certificates so it's always worth speaking to a mortgage expert to clarify your position.
Your mortgage is coming to the end of its fixed rate and you need to renew it. Your bank/lender has probably contacted you to switch to another rate with them (Product Transfer), but that may not be the best option for you. Granted, it's probably the easiest, but if you could save money, it's certainly worth the conversation with a mortgage broker. Also, it could be quite a lot of money as some lenders only offer higher rates to existing customers, rather than their 'new customer' lower rates. For the sake of a quick review, you could end up saving thousands and our brokers have access to the entire mortgage market to contrast and compare.
Remortgaging with the lender you already have your mortgage with. Your lender has probably contacted you to make you an offer, but they don't give advice with that offer and it may not be the best product for you. Our brokers can facilitate your product transfer completely free of charge and make sure you have been offered the best product for you. It's also an option if your personal situation has changed, maybe you've lost your job, or have gone self employed recently, maybe your income has decreased and you think you're stuck and have to revert to the lenders Standard Variable Rate (SVR). This may not be the case and you may have more options than you think. Our mortgage brokers will offer you the best advice for you after presenting all the options available.
Porting is basically moving home and taking your mortgage with you. Most lenders will allow this and you take the product you have with you to the new property so you don't incur any penalties whilst within your fixed rate period. Some lenders will treat the port as a completely new application and allow you to change aspects of the mortgage like the term, parties to the mortgage (add or remove someone) and you can either reduce the loan amount or take additional borrowing. Additional borrowing will depend on your income, situation and will be assessed as any new mortgage, it will also need to fit within the lending criteria of that lender. Negotiating all this yourself can be difficult, so it's always better to have a mortgage broker alongside, who will guide you through.
The government schemes have changed slightly over the years and can be a real minefield to negotiate on your own. There are several specific products from a range of lenders to choose from, but each work out the affordability differently. You need to work out the lender affordability alongside the help to buy affordability, which can be tricky. Most new build estate agents working with help to buy will offer you a mortgage broker and will in some cases try to force you to use them. However, it's always best to have a second opinion and deal with someone independent who is acting in your best interests rather than the estate agents. It's a complicated process and you need someone you trust to walk you through each step involved and explain the pitfalls and benefits.
You've been living in your local authority property for a period and the council offer the property to you, usually at an attractive discount and you would like to buy it. You could go to the bank, but which banks allow this type of purchase, as not all do. You have a wealth of options available and based on your circumstances, our mortgage brokers can shop around and choose the best mortgage and best lender for you. We'll explain the situation, the rules around ownership and walk you through the mortgage process step by step.
You want to buy a larger property to fit in with the lifestyle you prefer, can't quite afford to buy the whole property at present, but maybe you work in a profession where your income will increase exponentially and you then want the option to buy out the rest. Usual starting shares of between 25% and 75% and you need a mortgage alongside the rent you pay for the other part. Or perhaps you own a share and want to increase it (staircasing), or maybe even buy out the entire property from the housing company to own 100%. Either way, our mortgage brokers can help.
An unusual quirk offered by a few lenders when getting a mortgage. It basically means two people (or more in some cases) on the mortgage, but one (again, more in some cases) on the deeds of the property. You can use the income from all parties to the mortgage, but those not on the deeds have no legal right to the property itself. A good way for friends or family to help out without physically gifting money. It will form a credit agreement for all parties which can affect future borrowing for them. Speak to one of our mortgage brokers today to learn more.
Your mortgage is probably the most significant financial decision of your life, and will almost certainly be the largest debt you take on. Life insurance is therefore an important decision to get right. You could trawl the high street and go into every bank and money lender, however, that will take a very long time, you won't get any advice (they can't advise you, only offer you their products), and you may still miss out on the best rate.
We have access to some exclusive rates which you can't get even going direct to a lender.
We are independent mortgage brokers and offer an unrestricted number of first charge mortgages from the whole of the mortgage market. We will save you time, energy and money whilst guiding you through the mortgage process, answering all your questions and alleviating some of the stress from the process.
More importantly, we don't want your mortgage to be decided for you without your input. We will walk you through the process, adapting to whatever your level of knowledge may be. Everything is transparent and clear, we will always discuss who we believe is the most appropriate lender for you and why. We will explain all the options available and all the quirks of your mortgage that you may not have known about previously.
Our after sales care will ensure you never have to worry about slipping onto the higher follow on rate with your existing lender. We will contact you several months before and assess your case as if it were new, and recommending what we believe is the best course of action for your situation at that time.
Mortgages are not something to be afraid of, and you may have more options than you think.
For the sake of a 10 minute phone-call, you will see how we work for you, and could save you money.
This is not just about having a large debt in the shape of a mortgage, it's about assessing your needs as a person, couple or family unit. Different people have different needs and wants. Maybe you have cover at work but want a separate life policy, maybe you got cover with your last mortgage and want to review/top up, or maybe you don't believe in life insurance but have a curiosity to learn more.
Whatever your situation or preference, we offer a completely free review and application process. We will go through your needs/wants/budget and recommend a policy solution that covers you for every eventuality you are concerned about. There are no obligations and no costs at any point, all you would ever pay for is the policy you choose.
Life policies are available on a level or decreasing term (descriptions in glossary), and can cover you for the term of the mortgage or a term of your choosing, paying a lump sum to your family or dependents in the event of your untimely death.
Pays a pre-defined lump sum on the diagnosis of a listed condition with the provider and can be linked to your life insurance or kept separate. Usually the most expensive policy due to the frequency of payout and statistical likelihood of people having a critical illness in their lifetime. A horrible thought, and a horrible situation to have to deal with. If it happened to you or a loved one, unfortunately, you would have to think about your financial situation.
A Critical Illness policy gives you peace of mind that the financial side would be taken care of allowing you to focus on more important things.
In the event of such an illness, you may wish to take time off work, have specialist treatment, adapt living conditions or simply pay down your mortgage to make it more manageable.
If you are no longer able to do your job, how would you pay the mortgage? If you cannot work due to illness or injury, this policy replaces a percentage of your income.
This can be a relatively low cost policy (occupation dependent) if taking into account an initial deferred period. For example, if you already have sick pay at work, you can arrange to have this policy begin afterwards. You can also set it up for a limited pay out period, or it can cover you up to retirement age.
If you have children, this policy can protect you against losing one household income due to death. It will pay out a pre-defined monthly amount to the surviving partner until the age they have chosen for their child to no longer be a dependent. A type of life insurance that provides an income
Dad's income £30,000
Mum's income £30,000
Children, 2 & 5yrs old
Sadly dad passes away
Mum now needs to support 2 kids and try to keep working to do so.
All the childcare costs are still there.
Luckily, they had a life policy and FIB, so Mum has no mortgage (life) and receives £1,000 per month (FIB) until her youngest is 21. She can pay the childcare and keep working. They are financially stable.
This cover can be used as a form of life insurance, but won't usually cover your mortgage. It usually has no medical questions or underwriting and is available to anyone. It offers fixed payouts for broken bones, overnight stays in hospital up to 90 days and accidental death. It is also a fixed price policy and the cover varies depending on how many units of cover required.
It is a popular choice for Police, NHS staff and other emergency service workers as provides an additional cover on top of that supplied by their employer.
You can also cover your children on the policy for a small additional cost per month and if you play competitive sports there are other add ons.
The biggest factor is that there's no medical questions, so even if you're declined traditional life/health insurance, you can still have this.
All of our protection policies are quoted from the top UK providers. Companies who pride themselves on having high payout rates (well above 90%), being reliable and providing a greater amount of cover. There are other smaller companies, possibly with cheaper rates, but who might do everything in their power not to pay in the event of a claim, and will they even still be around in 25yrs?
You wouldn't buy the cheapest parachute if you wanted to take up skydiving....why would you choose the cheapest insurer, who might cover fewer conditions on their non-life policies, could go bust at any time, and may not pay out when you really need them to? You will find the quotes we cater to you competitive, usually with lower cost options available, we want you to see these policies for what they are. Choosing something like a life policy is a personal thing and shouldn't be done purely on cost. Would you choose the very cheapest car on the market just because it basically does the same thing as a more expensive car?
Did you know it is a condition of your mortgage to have buildings insurance? As independent mortgage brokers, we offer a free review and application process for all general insurances listed.
A surprising number of people who buy their home insurance from comparison websites are under-insured. What that means is that they have a re-build amount on their buildings policy which is less that the actual rebuild amount needed.
You buy a house in Dartford and have a rebuild cost in your insurance policy of £100,000
You pay an annual insurance premium of £200 for your building insurance
Your house burns down (sad face)
Your actual rebuild cost, accommodation, site clearance costs £200,000
The insurance provider sees you've been paying 50% of what is required
YOU WERE UNDER-INSURED
The insurance provider may only pay out 50% of the claim as a result
You receive £50,000 from the insurance
(very sad face)
How much does your mobile phone cost? Do you take it outside the house with you? Your home insurance could cover it.
Did you know you can protect your child's belongings if they go away to university on your home insurance?
You can insure special items specifically and even cover your garden on some policies.
If you are a Landlord, there are specific services that can offer you peace of mind. Rent guarantee insurance and legal protection should you have a difficult tenant. Also cover if you have a tenant wreck your property.
If your credit is impaired or you are locked into your current mortgage with high exit fees. A second charge against the property may be the solution. It can help clear debts and raise extra finance in the short term allowing you to do something outside the normal remit of your main mortgage.
Can help you buy at auction while the main mortgage is coming through, can also allow you to buy your next property if you are struggling to sell your current residence, effectively making you chain free and a more attractive buyer.
Land, retail units, unusual buildings, offices, studios, all require commercial finance. Commercial remortgages to raise money, even professional landlords looking to incorporate their portfolio
Our mortgage brokers can create a bespoke mortgage package through private banks for certain individuals with high net worth based around assets or income. Sometimes these people do not fit the traditional lending criteria, however, there are still lenders and options available, many of which could even be cheaper than the high st.
We can refer you to independent financial advisors in and around London who will be able to assess your position and make recommendations on that basis
We have a select number of solicitors in and around London we work alongside who will make the purchase/sale of your property that little bit smoother
Independent Royal Institute of Chartered Surveyors (RICS) registered companies in and around London and Dartford who can assist with homebuyers, property reports for mortgage purposes (Help to buy) and full structural/engineer reports.
Stratton Regent & Stratton Regent Financial Services are trading names of EDH Bracken Ltd who are an Appointed Representative of HL Partnership Limited which is authorised and regulated by the Financial Conduct Authority
The guidance and/or information contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK please note all calls to and from Stratton Regent may be recorded for training and monitoring purposes. Stratton Regent and Stratton Regent Financial Services are trading names of EDH Bracken ltd, registered in England & Wales with registered company number 11161946.
Your home or property may be repossessed if you do not keep up repayments on your mortgage
Strattonregent.com - 0203 488 4965