Why should I use a mortgage adviser? What's in it for me? this presentation explains

1. Alan Wynne

2. Alan Wynne is a mortgage adviser with Ward Financial Services
Ltd. which is an appointed representative of Personal Touch
Financial Services Ltd. which is authorised and regulated by
the Financial Services Authority.

3. Why Should I Use An Independent
Mortgage Adviser
 Music – Bright Wish by Kevin McLeod

4. What’s In It For Me?
This is a question I’m often asked
So let’s take a look –
What’s in it for you?

5. Do you qualify for a mortgage?
This will depend upon:-
 Your income

6. Do you qualify for a mortgage?
This will depend upon:-
 Your outgoings

7. Do you qualify for a mortgage?
This will depend upon:-
 Your deposit

8. Do you qualify for a mortgage?
This will depend upon:-
 Your credit rating

9. Do you qualify for a mortgage?
This will depend upon:-
 Your employment
situation

10. Do you qualify for a mortgage?
Let’s take your income and outgoings.
Generally speaking you can borrow
about 3 times your gross income
after deducting outgoings such as
loan and credit card payments

11. Do you qualify for a mortgage?
• But not all lenders are the same
• Some will lend considerably more than
this.
• WOULD IT HELP TO KNOW WHO THOSE
LENDERS ARE?

12. Do you qualify for a mortgage?
 Now let’s take a look at your deposit.
 At the time of making this video –
June 2012 you will need at least 5%
deposit.
 If you’ve only got 5% deposit the
number of lenders who will lend is
extremely limited.

13. Do you qualify for a mortgage?
 IT COULD SAVE YOU A LOT OF
WASTED TIME IF YOU KNEW WHO
THOSE LENDERS WERE.

14. Do you qualify for a mortgage?
 So you’ve got the deposit and your
income is OK.
 Now let’s take a look at your
employment situation.
 If you’re in permanent employment
or you’ve been self employed for
over 3 years you’re looking good.

15. Do you qualify for a mortgage?
 But if you are working on a short
term contract or doing agency work
most lenders will run a mile.
 Or what if you’ve been self employed
for less than 3 years or even less
than 2 years. Most lenders will walk
away

16. Do you qualify for a mortgage?
 Maybe you work overseas.
 Again even if your income stacks up
most lenders will decline your
application.

17. Do you qualify for a mortgage?
 You see where I’m coming from?
 YOU NEED TO KNOW WHICH
LENDERS WILL DO BUSINESS WITH
YOU.

18. Do you qualify for a mortgage?
OK so you’ve got the deposit, your
income stacks up and you’ve found a
lender who will cater for your
employment situation.
NOW COMES THE CREDIT CHECK

19. Do you qualify for a mortgage?
 A credit check is where a lender
checks your credit rating with a
credit reference agency.

20. Do you qualify for a mortgage?
 IF YOUR CREDIT RATING ISN’T HIGH
ENOUGH THEN CHANCES ARE YOUR
APPLICATION WILL BE DECLINED.

21. Do you qualify for a mortgage?
 However, some lenders take a more
lenient attitude towards a low credit
rating..
 WOULDN’T IT BE USEFUL TO KNOW
WHO THESE LENDERS ARE?

22. Do you qualify for a mortgage?
 And there are certain things you can
do to improve your credit rating so
maybe in 6 months time you can re-
apply.
 WOULD YOU LIKE TO
KNOW WHAT THESE ARE?

23. For those of you who qualify for a
mortgage
 What’s next?
 Well what type if interest rate do you
require? Do you want a:-
• Fixed rate
• Variable rate
• Capped rate
• Discounted rate
• Tracker rate

24. For those of you who qualify for a
mortgage
Do you know the differences between
these rates and the impact they can
have on your mortgage.
WOULD YOU LIKE SOMEONE TO
EXPLAIN THESE DIFFERENCES TO
YOU AND HELP YOU CHOOSE THE
RATE THAT’S RIGHT FOR YOU?

25. For those of you who qualify for a
mortgage
OK so now you’ve got the interest rate
you require.
How are you going to repay your
mortgage?
Yes that’s right I said how are you
going to repay your mortgage?

26. For those of you who qualify for a
mortgage
Because even here you have a choice
between:-
• Capital and Interest
• Interest only
• A mixture of the two
WOULD YOU LIKE SOMEONE TO
EXPLAIN THESE OPTIONS?

27. For those of you who qualify for a
mortgage
And what about fees?
• Valuation fee.
• Lender’s arrangement fee.
• Higher lending charge
• Booking fee
• Telegraphic transfer fee.
• Early redemption fee

28. For those of you who qualify for a
mortgage
WHANT TO DISCUSS THESE WITH
SOMEONE WHO KNOWS ABOUT
THEM?

29. For those of you who qualify for a
mortgage
A discussion with a mortgage adviser
can guide you through all of these
things.

30. For those of you who qualify for a
mortgage
From this discussion your mortgage
adviser can tailor a mortgage to your
exact requirements.

31. For those of you who qualify for a
mortgage
Then search the whole of the market
to find the BEST mortgage deal which
matches your requirements.

32. For those of you who qualify for a
mortgage
Then make a recommendation in
writing showing all the costs involved.
REMEMBER INDEPENDENT MORTGAGE
ADVISERS HAVE TO STAND BY THEIR
RECOMMENDATIONS

33. If you wish to proceed
How would like someone to act as
YOUR advocate during the application
process?
This means:-

34. If you wish to proceed
 Helping you complete all the
paperwork for the mortgage.

35. If you wish to proceed
 Gathering all the information the
lender needs to support the
application.

36. If you wish to proceed
 Using their experience to resolve
problems during the process.

37. If you wish to proceed
 If required providing names of
known and trusted professionals
such as solicitors and accountants.

38. If you wish to proceed
 Helping you understand all the forms
provided to you by the solicitor,
lender, surveyor etc.

39. If you wish to proceed
 Liaising between all the interested
parties making sure that everything
is going well.

40. If you wish to proceed
 Keeping you informed of the
progress of the mortgage and
dealing with any questions
or concerns you may have.

41. If you wish to proceed
 Helping you understand the formal
offer issued by the lender and
making sure you understand what
you are getting into.

42. If you wish to proceed
 Making sure you are not paying too
much for any insurance plans that
you may have with your mortgage.

43. If you wish to proceed
 Making sure you are not paying too
much for any insurance plans that
you may have with your mortgage.
 Again speaking to the providers on
your behalf.
 And talking to you in plain English,
about the solutions to your needs.

44. When You Put This All Together
Wouldn’t you just like someone to:-
 C ommunicate with everybody in the
purchase or re-mortgage process.
 A dvise on the most suitable scheme
based on the your requirements.
 R emind about all the risks involved in
carrying out the transaction.
 E nsure your family is protected should
anything unforeseen happen.

45. I Hope I’ve Made My Case. You can
do it yourself but ask yourself this

46. I Hope I’ve Made My Case. You can
do it yourself but ask yourself this
 If your car broke down
would you try and fix
it yourself or would
you employ a
mechanic?

47. I Hope I’ve Made My Case. You can
do it yourself but ask yourself this
 If you had a problem
with your central
heating would you try
and fix it yourself or
would you ring for a
plumber?

48. I Hope I’ve Made My Case. You can
do it yourself but ask yourself this
 If you had an
electrical problem
would you try and fix
it yourself or send for
an electrician?

49. Using a professional saves you
money in the long run
For a FREE no obligation consultation
Call Alan Wynne
On
01244 571124 or 01244 570641
Or
Leave your details below
Your home may be repossessed if you do not keep
up repayments on your mortgage .
 For mortgage advice we charge a fee of 1% of the loan amount with a minimum fee of £725. Any
commission received from the lender will be offset against our fee which is payable on completion