Steve Hatton Mortgage & Protection Advice

5-star review of financeadvicecentre.co.uk:

Due to my property portfolio, I have a fair share of experience when it comes to mortgages. PRIOR TO Financial Advice Centre (FAC), I have had very negative, frustrating and financially impacting experiences. With too many hoops to jump through, lazy staff, additional paperwork, etc - some mortgage applications took up to six months to complete. Due to this, I changed my broker and solicitor from FAC’s recommended list. It has been a pleasure to witness what a broker should do to get these applications over the line. I had Steven Hatton looking after my case; the man is brilliant. He Chased everyone and everything daily to keep momentum. Steven was also extremely patient, presented me with several options, and kept me up to date, day by day at times, with new and better rates. Once all decisions were finalised, the mortgage flew through to completion in a matter of weeks. I can’t thank Steven and FAC enough, and will definitely be using them again.

Improving your credit score can enhance your chances of securing a mortgage. Here are some steps to consider:

1. Check your credit report regularly for any errors and ensure all information is accurate. Dispute any inaccuracies promptly.

2. Pay all bills on time, including credit card payments, utilities, and loans. Late or missed payments can significantly impact your score.

3. Reduce outstanding debt by paying off balances or consolidating loans. High credit utilisation can negatively affect your score.

4. Limit credit applications as each application results in a hard footprint, which can temporarily lower your score.

5. Avoid closing old credit accounts, as a longer credit history can positively influence your score.

When preparing for a mortgage, be cautious of engaging in activities that may negatively impact your credit, such as taking on new debt or missing payments. Maintain responsible financial habits, and your credit score should improve over time, increasing your chances of securing a favourable mortgage.

At Finance Advice Centre we are whole of market. This means we can access every deal on the market & will recommend the most suitable one available to you.

Contact us today for your free mortgage consultation.

*As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments*

Understanding interest rates is crucial when considering a mortgage. Interest rates can significantly impact your monthly repayments and the overall cost of your home loan.

When evaluating mortgage options, pay close attention to whether the interest rate is fixed or variable. Fixed rates offer stability and predictability, as your monthly payments remain constant for an agreed period, typically 2-5 years. Variable rates, on the other hand, fluctuate according to market conditions, potentially resulting in higher or lower payments over time.

It's essential to consider the loan term as well. Longer terms may offer lower monthly payments but could result in paying more interest over the life of the mortgage. Shorter terms often have higher monthly payments but could save you money in the long run.

Additionally, factor in any fees associated with the mortgage, such as arrangement fees, valuation fees, and early repayment charges. These costs can vary significantly among lenders and impact the overall affordability of the loan.

At Finance Advice Centre we are whole of market. This means we can access every deal on the market & will recommend the most suitable one available to you.

Contact us today for your free mortgage consultation.

*As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments*

Mortgage Terms You Should Know: A Quick Glossary - Part 2

Understanding mortgage terms is crucial for making informed decisions. Here’s Part 2 of our quick glossary to simplify some of the most commonly used terms in the industry.

Fixed-Rate Mortgage: A mortgage where the interest rate is fixed for a set period, providing payment certainty.

Freehold: Outright ownership of a property, including the land it sits on.

Leasehold: Ownership of a property for a fixed period of time, with ground rent payable to the freeholder.

Loan-to-Value (LTV): The size of your mortgage loan expressed as a percentage of the property's value.

Portable: The ability to transfer your existing mortgage to a new property.

Stamp Duty: A tax payable when purchasing a property over a certain price threshold.

At Finance Advice Centre we are whole of market. This means we can access every deal on the market & will recommend the most suitable one available to you.

Contact us today for your free mortgage consultation.

*As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments*

Mortgage Terms You Should Know: A Quick Glossary - Part 1

Understanding mortgage terms is crucial for making informed decisions. Here’s Part 1 of our quick glossary to simplify some of the most commonly used terms in the industry.

Arrangement Fee: A cost charged by the lender for their mortgage product.

Annual Percentage Rate Charge (APRC): The overall annual cost of a mortgage, including interest and fees, expressed as a percentage

Base Rate: The interest rate set by the Bank of England, which influences mortgage rates.

Capital and Interest: Monthly payments that cover both the interest and a portion of the original loan amount.

Early Repayment Charge: A fee you may have to pay if you fully or partially repay your mortgage before the end of the deal period.

At Finance Advice Centre we are whole of market. This means we can access every deal on the market & will recommend the most suitable one available to you.

Contact us today for your free mortgage consultation.

*As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments*

📢 Looking for Expert Mortgage Advice? Look No Further! 🏡

Hi everyone! I'm Steve Hatton, your trusted mortgage broker, and I'm here to help you navigate the complex world of mortgages with ease. Whether you're a first-time buyer, looking to remortgage, or interested in buy-to-let, I've got you covered!

🔍 Why Choose Me?
✅ Personalized Mortgage Solutions
✅ Access to a Wide Range of Lenders
✅ Expert Advice and Guidance
✅ Hassle-Free Application Process

Don't let the mortgage process overwhelm you. Contact me today for a free, no-obligation consultation and let's find the best mortgage solution tailored to your needs!

📞 Call me at 07488 290087
📧 Email me at [email protected]
💬 Send me a direct message here on Facebook!

Let's make your dream home a reality! 🏡✨

Did you know, the choice of mortgages at start of April highest since 2008

Mortgage borrowers had the biggest number of products to choose from in over 16 years in early April.

Meanwhile, the average “revert to” or standard variable rate (SVR) mortgage is above 8% – making the need to find a new, less costly deal more pressing for some borrowers.

Across all deposit sizes, Moneyfacts counted 6,307 mortgage options at the start of April including fixed and variable deals – the highest number since 6,760 were recorded in February 2008.

With so many deals available it is even more important to understand what is the most suitable mortgage for your needs and circumstances.

At Finance Advice Centre we are whole of market. This means we can access every deal on the market & will recommend the most suitable one available to you.

Contact us today for your free mortgage consultation.

*As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments*

Source: https://tinyurl.com/35jx2z6n

🏡 Struggling to get a mortgage due to adverse credit?

Are mortgage lenders turning you away due to credit issues? Don't lose hope – I'm here to help you navigate through the challenges and secure the home of your dreams!

As an experienced mortgage broker specialising in adverse credit, I understand the unique hurdles you face. Whether it's past defaults, CCJs, or low credit scores, I've got the expertise to find tailored solutions just for you. 🎯

Why choose me?
✅ Expert guidance on adverse credit mortgages
✅ Personalised solutions to fit your needs
✅ Dedicated support from application to approval
✅ Transparent and honest advice every step of the way

Don't let credit setbacks hold you back from homeownership. Reach out today and let's discuss your options! 📲

Contact me:
📞 07488 290087
📧 [email protected]
*As a mortgage is secured against your home
me, it could be repossessed if you do not keep up the mortgage repayments*

Have you Heard? The £5k Deposit Mortgage!

A new mortgage product has just launched and is designed to help first time buyers purchase their first home faster with just a £5K deposit and is available for Loan to Value (LTV) over 95%, up to a maximum of 99%. This is currently only available with one mortgage lender!

Who's it for?
• At least one applicant must be a first time buyer (defined as never having owned a property in the past) and no background properties on the application
• Applicants with a minimum £5K deposit
• Applications that achieve the higher credit score required for lending above 95% LTV with the lender.

What else do you need to know?
• 5 Year Fixed Rate product
• Maximum age of 70 at the end of the mortgage term
• Available for LTVs between 95.01% LTV and 99% LTV
• Available for house purchases above £100K up to £500K
• Minimum loan above £95K
• Maximum loan £495K
• Maximum Loan to Income x 4.49
• Only available for Capital & Interest
• Available for new house purchase business only
• Subject to affordability, criteria and credit score

At Finance Advice Centre we are whole of market. This means we can access every deal on the market & will recommend the most suitable one available to you.

Contact us today for your free mortgage consultation.

*As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments*

Source: https://tinyurl.com/5ey7k2c6

Book your free no fuss consultation with me now.

Mortgage Consultation - Steve Hatton Our meeting will consist of our fact find in which I will obtain the required information to provide you with a mortgage recommendation. I’ll also discuss how the process works and highlight any documentation I’ll require to proceed.

Track Record Mortgages

Did you know there are ways you can get a mortgage with no deposit? - Track Record Mortgage!

The Track Record mortgage offers up to 100% Loan to Value lending for renters looking to become first time buyers, or previous home owners that are currently renting looking to get back onto the ladder, who haven't owned a property in the last 3 years in the UK or abroad.

Track Record key eligibility criteria

• Each client hasn't owned a property in the UK or abroad in the last 3 years.
• Each applicant must be aged 21 or over.
• Must have proof of having paid rent for at least 12 months in a row, within the last 18 months.
• Must also have 12 months experience paying all household bills within the last 18 months.
• Each applicant will have no missed payments on debts/credit commitments in the last 6 months.
• The monthly mortgage payment must be equal to or lower than the average of the last 6 months' rental cost*
• If you do have some money for a deposit, the deposit must be less than 5%.

*The monthly mortgage payment must be equal or lower than the average of the last 6 months rental cost – e.g., if the average rent over the last 6 months is £1200, the mortgage payment must be £1,200 or lower.

At Finance Advice Centre we are whole of market. This means we can access every deal on the market & will recommend the most suitable one available to you.

Contact us today for your free mortgage consultation and find out more information on track record mortgages.

*As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments*

Source: https://www.independent.co.uk/money/deposit-free-mortgage-first-time-buyers-skipton-b2335437.html

I used this service as I was a first time buyer and didn't have a clue where to start. I worked with Steve Hatton, who was absolutely fantastic from the very start! He helped me every step of the way. I would absolutely recommend this service to anyone thinking of buying a home! Thank you ( I'm writing this while sat in my new bungalow.....)

How Much Deposit Do You Need For A Residential Purchase?

When looking to buy your first home or move up the property ladder, the size of your deposit can make a big difference.

Typically, mortgage lenders require a minimum deposit of 5% of the property purchase price. However, the bigger your deposit, the more likely you are to access the most competitive interest rates.

As deposit size increases, mortgage rates can drop in increments. Each 5% rise often opens up cheaper deals. Other benefits beyond rate alone can include greater lender choice, lower arrangement fees and better loan-to-value ratios.

Saving more upfront allows you to put down the largest deposit you can comfortably afford.

Approaching one of our expert mortgage advisers allows you to discuss deposit options suited to your needs and circumstances. We're here to support first time buyers and home movers alike in finding the most suitable mortgage deal.

At Finance Advice Centre we are whole of market. This means we can access every deal on the market & will recommend the most suitable one available to you.

Send me a message today for further information and a free consultation. Alternatively, You can book an appointment using the below link:

https://calendly.com/stevehattonmortgageadvisor/mortgage-consultation

*As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments*

What is a Concessionary Purchase from family member?

A concessionary house purchase is where you buy a property at below market value, normally through someone gifting you the difference. As such it can also be known as a gifted equity deposit purchase, as in many cases the discount can be viewed as a deposit. A mortgage used to fund this kind of purchase is therefore known as a concessionary purchase mortgage.

The discount can then be used to fund some or all the deposit, some lenders may insist that you contribute your own deposit in addition to the discounted equity deposit. Some lenders will insist on a minimum genuine discount, for example, 10% of the property value.

In some cases, the minimum deposit requirement can be made up of a combination of both your own funds and a genuine discount. The buyer then takes out a mortgage for the remainder of the property value, this is a discounted purchase price minus any personal deposit provided.

At Finance Advice Centre we are whole of market. This means we can access every deal on the market & will recommend the most suitable one available to you.

Contact us today for your free mortgage consultation.

*As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments*

What is Experian Boost?

Experian Boost can help you increase your credit score simply by sharing how you manage your money.

It lets you share information about your regular spending, such as payments to savings accounts, Council Tax payments, and digital entertainment payments to the likes of Netflix and Spotify. If you're making payments like this regularly, and not spending more than you earn, you could get an instant boost to your credit score.

Here’s why it matters: some lenders use boosted Experian credit scores in their credit decisioning.

The boost you may get when they sign up could be the difference between qualifying for a mortgage or not.

The Small Print:
- Experian Boost will not negatively impact your score
- There is no guarantee you will get a boost
- You will need to give Experian access to their bank via open banking, but you can withdraw their consent any time
- Boosts could be big or small

At Finance Advice Centre we are whole of market. This means we can access every deal on the market & will recommend the most suitable one available to you.

Contact us today for your free mortgage consultation.

*As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments*

Source: https://www.experian.co.uk/consumer/experian-boost.html

This week we are looking at some of the additional product features with protection insurance that you might not know about!

Did you know there's more to Income Protection?

Income Protection Insurance covers most illnesses and injuries that stop you working either in the short or long term.

However, some policies include additional features such as:

Proportionate Benefits - Where the insurer will continue to pay a reduced benefit if the client returns to work in either a reduced capacity or different role and therefore earns less than their pre-incapacity earnings

Rehabilitation Services - Services provided in the event of the life assured becoming ill or injured, with access different types of therapy.

Counselling - Counselling - Counselling services offered by insurers, either face to face, via the telephone, video conferencing or email.

Hospitalisation Benefit - Where additional benefits are paid if the life assured is required to spend an extended period of time in hospital.

The additional features available can vary by product and provider.

Contact us today for your protection insurance consultation

UK house prices post biggest monthly rise in a year!

House prices rose 0.7% month on month in January, according to the latest Nationwide house price index.

The report showed that falling mortgage rates and great buyer confidence continue to support the property market.

According to the building society, property price increased by an average of 0.7% in the month of January, with the average property now costing £257,656, up from £257,443 a month earlier.

At Finance Advice Centre we are whole of market. This means we can access every deal on the market & will recommend the most suitable one available to you.

Contact us today for your free mortgage consultation.

*As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments*

Source: https://propertyindustryeye.com/uk-house-prices-post-biggest-monthly-rise-in-a-year-industry-reaction/

This week we're going to be looking at Mortgage In Principle's and what they involve.

A mortgage in principle (MIP), also known as a Decision in Principle (DIP) or an Agreement in Principle (AIP), is a certificate issued by a lender indicating how much they would potentially lend to you. It is based on a quick affordability and credit check using the information you provide.

Getting a mortgage in principle does not guarantee that you will be offered a full mortgage, as more detailed checks would be required for that. However, it can give you and your estate agent an idea of your budget when looking for a new home.

A mortgage in principle typically lasts between 30 to 90 days. It does not commit you to accept that lender's full mortgage offer. During the full application, the lender completes more affordability and credit checks. They may then offer you a different amount or interest rate to that originally stated.

While extremely useful guidance early in the home buying process, please always carefully consider affordability over the long term too. Interest rates can rise, impacting monthly repayments. Be sure to account for other regular outgoings as well when determining how much you can realistically borrow.

At Finance Advice Centre we are whole of market. This means we can access every deal on the market & will recommend the most suitable one available to you.

Contact us today for your free mortgage consultation.

*As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments*

Mortgage swap rates, also known as swap indexes, are a key factor influencing the interest rates available on mortgage deals. Swap rates essentially represent the rate at which banks can obtain fixed-rate funding on international money markets over set periods of time.

As major mortgage lenders rely on the money markets to raise funding for fixed rate mortgages, the swap rates heavily impact the rates they can offer their mortgage customers. When swap rates rise, lenders' funding costs increase so they will generally increase their fixed mortgage rates. Similarly, if swap rates fall, this makes raising fixed rate funding cheaper for lenders so they can reduce fixed rate mortgage pricing.

Monitoring swap rate movements is therefore crucial in predicting where fixed mortgage rates are headed.

So in summary, mortgage swap rates indicate the wholesale funding costs for lenders providing fixed rate loans. Their fluctuations up and down drive changes in the fixed rate mortgage deals available to borrowers.

At Finance Advice Centre we are whole of market. This means we can access every deal on the market & will recommend the most suitable one available to you.

Contact us today for your free mortgage consultation.

*As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments

Don't Forget Your Mortgage Renewal Date!

As a homeowner, it is important to be aware of when your current fixed rate mortgage deal is ending. Most lenders allow borrowers to switch to a new deal in the last 6 months of their existing deal. This provides an opportunity to review the market and potentially secure a better rate.

If interest rates continue to fall before your new mortgage completes, many lenders will let you switch again to benefit from a lower rate. So it can pay to monitor the market even after selecting your new product.

For those considering moving lender when their current deal expires, note that most also permit this process to begin 6 months before deal end.

Planning ahead and acting in advance of your deadline avoids the risk of temporarily reverting to the Standard Variable Rate. This is usually higher, so could increase your payments. Remain vigilant on renewal dates. Evaluate new deals as early as possible. And capitalise on lender flexibility around product transfers to optimise savings. Staying informed on mortgages ensures your housing costs remain efficient.

At Finance Advice Centre we are whole of market. This means we can access every deal on the market & will recommend the most suitable one available to you.

Contact us today for your free mortgage consultation.

*As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments*

When applying for a mortgage, having a complex income situation or adverse credit history can make getting approved more challenging. If your personal or financial circumstances are not straightforward, speaking to a whole-of-market mortgage adviser could be beneficial.

A whole-of-market mortgage adviser has in-depth knowledge across a wide range of mortgage products and lenders. They specialise in finding solutions for people whose situations mean they may struggle to get a mortgage from high street banks and lenders.

Their expertise enables them to understand your unique needs and match you with the most suitable lenders which will understand your needs and circumstance and more likely to approve applicants with circumstances like yours. They can guide you through the mortgage process step by step and help you find the most suitable lender.

While rates and criteria vary between lenders, an adviser works with most major banks and building societies. So they can research the whole market to find deals you may not be aware of yourself.

Getting personalised guidance from an adviser experienced in complicated cases can make a big difference. They work hard on your behalf to secure a mortgage tailored to your needs and circumstances.

At Finance Advice Centre we are whole of market. This means we can access every deal on the market & will recommend the most suitable one available to you.

Contact us today for your free mortgage consultation.

*As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments*

Hands down the best coffee I've ever had.

For many homeowners, there may come a time when additional funds are needed to help finance major expenses or projects. Whether it's renovations, debt consolidation, university fees or other significant costs, having options to access the equity built up in your home can be useful.

For homeowners currently locked into a fixed-rate mortgage, a further advance or secured loan products may offer solutions worth considering. These allow you to borrow extra money against your property as security, without needing to switch mortgage deals. Interest rates, fees and loan terms vary, so researching different further advance or secured loan providers is advisable.

If your existing mortgage fixed period is soon ending, another potential route is remortgaging to access equity and consolidate the additional borrowing needed into a new loan. Remortgaging can allow funds to be raised for any legal purpose whilst securing a fresh deal on your whole mortgage balance.

Whichever route homeowners choose to release equity, considering affordability pressures on family finances remains essential. Seeking sound financial advice can ensure you select lending options appropriately tailored to budget, outgoings and individual circumstances.

At Finance Advice Centre we are whole of market. This means we can access every deal on the market & will recommend the most suitable one available to you.

Contact us today for your free mortgage consultation.

*As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments*

Can I Use A Builder Cash Incentive For My Deposit?

When buying a new-build home, builders may offer a cash contribution towards your deposit. This incentive can make getting onto the property ladder more affordable. However, further funds may still be required from the buyer to meet mortgage lenders' deposit criteria.

Lenders can have strict rules on what makes an acceptable deposit, particularly for first-time buyers who tend to borrow at higher loan-to-values. Most lenders will accept a builder's incentive, provided it is evidenced in writing. But some may cap the proportion coming from the developer. The remainder would need to be the buyer's own verifiable savings.

For example, if a lender accepts a maximum 85% loan-to-value mortgage, a 15% deposit is required. If the builder offers a 5% incentive, the buyer themselves will still need to put down 10% of the property price from savings or a gift from family members.

It is important buyers check with both builders and lenders to understand exactly what funds they must have ready. This will determine whether the incentive alone is sufficient for exchange of contracts. Additional savings may be necessary to bridge the gap.

At Finance Advice Centre we are whole of market. This means we can access every deal on the market & will recommend the most suitable one available to you.

Contact us today for your free mortgage consultation.

*As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments*

The Benefits of Using a Mortgage Broker

Are you considering buying a property or exploring mortgage options? Look no further – a professional mortgage broker can be your ticket to a smoother and more cost-effective home-buying experience. Here are some key benefits of opting for a mortgage broker's expertise:

• Expert Advice: Mortgage brokers possess an in-depth knowledge of the mortgage market. With access to a wide range of lenders, they can provide unbiased advice tailored to your specific financial situation and goals.

• Time-saving: Searching for the perfect mortgage deal can be time-consuming and overwhelming, especially when considering the plethora of available options.

• Access to Exclusive Deals: Mortgage brokers often have access to exclusive mortgage deals not readily available to the general public. These deals can include discounted interest rates, reduced fees, or special incentives. By leveraging their industry connections, brokers can potentially provide you with preferential terms that could save you money on your mortgage.

• Financial Protection: Brokers have a duty of care to act in your best interest, helping you navigate complex terms and conditions and ensuring you understand the mortgage contract before signing.

• Tailored Solutions: Everyone's financial situation is unique, and a mortgage broker recognises that. They can assess your individual circumstances and match you with a mortgage product that aligns with your specific needs and lifestyle.

• Streamlined Application Process: Applying for a mortgage can be a complicated, requiring extensive paperwork and communication with different lenders. A mortgage broker simplifies this process by handling paperwork, liaising with lenders, and coordinating the necessary documentation on your behalf.

At Finance Advice Centre we are whole of market. This means we can access every deal on the market & will recommend the most suitable one available to you.

Contact us today for your free mortgage consultation.

*As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments*