Mortgage
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mortgage services
Complete Mortgages Solutions
"Paula kept me informed all the way throught to completion"
Whether it’s your first property or your final family home, mortgages can be a minefield to navigate without expert help. Luckily we know the industry like the back of our hands. We’ll be sure to find you the best deal possible.
Your home is at risk if you fail to keep up payments on your mortgage or any other loans secured against it.
Buy to Let mortgages and Commercial Lending are not usually regulated by the Financial Conduct Authority.
Independent Mortgage Advice, we work for you, not the banks. We’ve got your back!
With more than 100 lenders offering mortgages in the UK, how long would it take you to speak to them all and find the best deal? We source all our mortgages from the whole of market, which means we can always give the best advice and show the best mortgage for your needs. As we are real people and not robots we give you unbiased holistic advice and independent guidance on the best mortgage for your needs and situation.
Mortgage advice the way it should be!
Bespoke mortgage solutions based on the individual advice that we provide you. We are not tied to any one provider of Financial services so can always give the best advice for your specific needs.
- Products from hundreds of mortgage providers
- Choosing from thousands of mortgages in the marketplace
- Evening and weekend appointments available
- Totally independent mortgage advice
- Whole of market mortgage advice
Unbiased Independent Mortgage Advice
We deal with all the details of your mortgage application, chase all the people who need chasing, and keep you updated all the way through the process. We work for you, not the banks or estate agents!
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Mortgages
First Time Buyers
Buying your very first home is one of the very few milestones that can leave you feeling delighted and daunted at the same time. It is one of the most important purchase decisions you will ever make, financially and emotionally.
Here at Paula Cook Mortgage Brokers Ltd, our friendly team can guide you through the complete process, supporting you in your search for the right mortgage.
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Mortgages
Home Mover
You are classed as a home mover if you have a mortgage on your current home and plan to move to a new property. You do not necessarily need to change your mortgage in order to move home, but you have the option to do so.
Paula Cook Mortgage Broker Ltd has access to a wide range of lenders, allowing us to find you the most competitive mortgage deals for your circumstances. We can also advise you what the most suitable type of mortgages are for home movers, like yourself.
We are able to offer you experienced advice on whether porting your mortgage or going to a new lender; would be most beneficial for you. They can help with administrative aspects of the application and overall save you the time, money, and stress of a failed application.
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Mortgages
Remortgage
Remortgaging is simply changing your current mortgage deal. Your fixed term may have come to an end and you want to source a better deal or you may want to borrow more money to do the extension on your property. You can choose to either change your lender or to change your mortgage and stay with the same lender, both are considered remortgage.
When is a good time to Remortgage?
If any of the following criteria apply to you, then you could be the ideal candidate for a remortgage:
Your fixed rate deal is due to end
When you take out a fixed-rate mortgage, the interest rate has an introductory fixed term, which is lower than the lender’s standard rate. When this term ends, you’re automatically swapped onto the lender’s SVR (standard variable rate). This will be more than you were paying before.
Your home rises considerably in value
If the value of your home increases dramatically, your LTV (loan to value) ratio will fall. A lower LTV gives you access to lower mortgage rates from most lenders.
You’re not allowed to make overpayments
Making overpayments on your mortgage can be beneficial if you can afford to do so. Unfortunately, whilst some mortgages allow an annual overpayment, the terms of many mortgages prohibit this, so remortgaging is a good option if you want to make overpayments, but can’t.
To borrow more money
Remortgaging can sometimes be a good way to borrow additional funds for high-value items or for home improvements. You can even use a remortgage to consolidate your debts, but you should bear in mind that it’s not always the cheapest way to borrow money. We will provide you with a bespoke service to make sure we take everything into account. There are lots of factors to consider such as securing your debt against your property vs. the impact of having unsecured debt; as well as comparing the benefits of borrowing money over the long term vs. borrowing money over a shorter term.
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Mortgages
Buy To Let
Buy to Let mortgages and Commercial Lending are not usually regulated by the Financial Conduct Authority.
You will need a Buy to Let mortgage if you’re planning to purchase a property to rent out for profit. It is illegal to rent out your home if you have a standard residential mortgage without consent from your lender.
Will I be accepted?
In order to get a Buy to Let mortgage, you will be subjected to additional criteria checks than a residential mortgage application. Whilst the exact criteria will vary slightly from lender to lender, it’s very likely that you will:
- Need to own residential property (a mortgage is fine, it doesn’t need to be outright)
- Have a salary of at least £25,000 (Not all lenders have a minimum, but most do)
- Maintain a good credit score
- Need to repay the mortgage fully between the ages of 70-75.
How do Buy to Let Mortgages Work?
The interest rates are higher for buy-to-let mortgages than standard residential mortgages and you’ll need a minimum deposit of 25%.
If you are considering renting out a property contact Paula Cook Mortgage Broker today to go through your options.
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professional skills
Mortgage advice
We deal with all the details of your mortgage application, chase all the people who need chasing, and keep you updated all the way through the process. We work for you, not the bank or estate agent.
LTV* – Loan To Value
Mortgage advice the way it should be!
Always independent, always the whole of market, always honest at a time to suit you!
Even if you’re accepted, you may face higher interest rates and/or fees, as borrowers with poor credit ratings may not have as much choice as those with good credit scores. However, there are lenders who may consider those who might be rejected for mortgages elsewhere.
This is dependent on your circumstances, but we can arrange mortgages with as little as a 5% deposit from an individual and subject to your circumstances there may be no need to pay a deposit at all. Speak to us for more info.
We recognise that this is the first thing people want to find out when they come to us. Different providers follow very different criteria, and those criteria are changing all the time, making it a tough answer to determine. That’s why it’s a good idea to contact an experienced and responsible broker like Paula Cook Mortgage Broker to scan the current market and identify the product that will afford you the maximum spending power in the housing market. Contact one of our independent, trustworthy advisers and rest assured we will find the best solution for you.
In normal circumstances our stock answer currently is 5%. However, dependent on circumstances, there are some products that allow a zero contribution from you. Get in touch to see if you could be eligible for a zero deposit mortgage.
The Government change stamp duty rules quite often and the best way to find out what levels of stamp duty are payable is to use the Government’s Stamp duty calculator or speak to one of our advisers today.
This varies between providers, but with Paula Cook’s expert knowledge of the mortgage lending market, we can target the providers that will offer you the best deal for your set of circumstances.
This is not always the case. Subject to your age, amount of cover and general health, the insurers may require further evidence before they can offer terms. This can be completed by either an additional telephone interview, nurse visit or a targeted report from your GP.
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FAQ
general questions
Chances are, you'll find the answer in our FAQs. Here are some of the more common questions we get asked:
contact
Get in Touch
Paula Cook Mortgage Broker Limited
Director Name: Paula Cook
Monday - Friday: 9:00 - 7:00
Saturday: 9:30 - 5:00
Sunday: 10:00 - 5:00
More than just mortgages and protection, I am passionate about helping people.
If you’d like to book your free consultation contact Paula Cook Mortgage Broker today.
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Paula Cook, trading as Paula Cook Mortgage Broker Limited, is an Appointed Representative of New Leaf Distribution Ltd which is authorised and regulated by the Financial Conduct Authority: FCA Number 460421