Suffolk mortgage advice: Getting the best deal with The Mortgage Centres
PUBLISHED: 10:17 10 January 2019 | UPDATED: 10:14 14 January 2019
Getting a mortgage is one of the biggest and most emotional things you’ll do in life, but thankfully East Anglia-based broker The Mortgage Centres is always on hand to help you find the right deal
“Home ownership is a large, emotional part of people’s lives,” says Carl Shave, director of The Mortgage Centres’ Stowmarket branch. “We recognise that everyone’s needs are different and it is our job to match them with the product that best suits their circumstances.”
This client-focused ethos is at the heart of everything that The Mortgage Centres does, laying the foundations for its expansion into Norfolk and Essex and resulting in an excellent 9.9 score from over 250 Trustpilot reviews.
Who better to guide you through the complicated process of getting a mortgage in Suffolk?
How do mortgages work and who is involved?
“Put simply, a mortgage is essentially another way of saying a loan for a property,” says Carl. “In this, we have the party who is lending the money – which could be a bank, building society or lending institution – and you, the borrower.”
A broker’s job is to act as an intermediary and match a client with the product that best suits their circumstances. Instead of being limited to a group of products that only one lender can provide, using a broker allows you to compare what many different organisations can offer.
Carl, who also contributes to the FT Adviser and makes educational talks at local colleges, says The Mortgage Centres offers an impartial service and will be happy to talk to any lenders. “Our loyalty is aligned to nobody apart from our customer. We show them what’s right for their needs in the wider market, rather than just what’s right for one mortgage provider.”
Such differences in client needs may not only be related to affordability, but also to other elements like insurance. This could be property insurance, life insurance, critical illness cover, redundancy cover and income replacement plans – if that insurance is mortgage-related, The Mortgage Centre will be able to assist with it.
How will mortgages vary depending on someone’s circumstances?
While many brokers will simply look for the cheapest option out there, The Mortgage Centres will carefully consider everything that the client requires when dealing with various lenders.
“We like to find out what suits the client: different mortgages have different features while others may want to pay more so they can pay it off quicker. We train our advisers to work out precisely what a customer is after so we can deliver the best product, providing the client with value beyond simply saving them a few quid each month,” says Carl.
Affordability is still a key consideration for lenders, however, even more so in the post-credit crunch era.
Nowadays lenders are much more careful to ensure that borrowers are able to afford what they are borrowing. Each lender will assess your ability to pay money back differently and having an expert adviser provide impartial guidance on what each lender is offering can make the whole process far more straightforward.
Although The Mortgage Centres is one overarching brand, each of its branches has a different director, all of whom have an intimate knowledge of their local market.
Carl says: “We strive to deliver our own core values as well as we can. Our services or products may be similar to others, but we make sure that the way we do it is better than our competitors.”
The whole process can be intimidating, but the housing market in Suffolk is healthy, and with representation all across the region, The Mortgage Centres is never far away to lend a helping hand.
“Suffolk has served us well and I’m sure it will continue to do so,” says Carl. “That’s precisely why we are looking to broaden that reach to Norfolk and Essex.”
The Mortgage Centres operates from a number of locations across Suffolk, Norfolk and Essex. After 20 years in the mortgage industry, it remains committed to the very highest of standards for homebuyers and landlords.
Visit the website to find out more.