Great video! Thank you! Just a question for BTL mortgage, as a first time buyer, can I purchase my first property under a limited company? Or it has to be personal? Cheers!
Thanks Alex, very helpful. Can I ask at what point would you suggest getting a broker? For example, would you do that before finding a property? Or find a property and make an offer first? Would the broker provide the solicitor for you? And if not, would you get a broker involved before sourcing your own solicitor? Many thanks!
Thanks for the information but I was turned off by the gross generalization of working with a lender or “bank”. Since 65% of all mortgages are Fannie and Freddie backed in the US, we are all selling green money. It might be better to go into further detail or be much more concise with your presentation.
My broker is mad at me for complaining about my cancelled application - the lender has replied to my complaint offering to reopen it upon some conditions. Broker seems to feel I should not have done this but they cancelled the application because he didn't respond to the lender's request for info! He fell asleep at the wheel and now worried I am ruining the relationship with the lender -- will he try to sabotage my app and what can I do?
Hi Mbaku, you need a new broker! Difficult situation... I would personally start a fresh. It isn't ideal going direct to the lender yourself.. tricky.. happy to help if you need it. alex@mortgagechain.co.uk
Hi Alex, I have a question. Our mortgage has been approved and released by Barclays using help to buy schme. However, when we are nearing exchange seeking Help to buy to gives us authority to exchange, they have deferred the process because of the deposit incentives that the developer have given us. Now we have secured a new ATP from them as we have changed the condition of incentives and opted to pay the whole 5% deposit. My question is will the lender withdraw their offer due to this change in incentives? I am really desperate for advise and anxiously waiting if our purchase will materialize. I Hope you can help. Thank you
@@alexkerrmortgage Thank you you just put my mind at ease. Your vlogs are my go to videos when i have some questions. You are helping a lot of us, keep up the good work. Godbleas.
Hi Alex Thanks for your video, i am going to applied for mortgage full application but last month i lend some money to my fried as he was going through tough time will this outgoing effect my application. I still have enough money to show deposit
Hi, My mortgage broker charaged £995 and said after my fixed rate the work will between £450 an £995 is this true can they charage everytime for renewel?
The amount of work in a remortgage is quite similar so yes, absolutely! Also, they will find you the best deal and save you much more than this compared to if you go to one or two banks on your own.
Hey Alex, great video as always! How much is a typical broker fee, what do you charge and at what point in the process would you usually expect to pay the brokers fee? I'm assuming at the end of the journey once everything is complete?
Hi Matthew, every company is different, but for us we start at £499 and go up to £1999 as a max. The more "complications" you have the higher the fee as more work will be required. Its usually between £499 - £999 and is charged once a mortgage offer is produced. This is the legal document which states the lender is happy to provide the mortgage! SO in other words the goods need to be delivered, and if they are not, the fee is not made. Does that make sense ? Alex
@@alexkerrmortgage It does, but in one of your other videos you have mentioned a two-fee process; one charge at the offer of mortgage, and a second upon completion (at the poin where the keys are handed over) is that not the method you adopt?
@@MANB91UK Hi Matthew, I just answered this one on the other comment you would have just received! The other channel is for brokers, we do not adopt this method for first time buyers... But would do on. a remortgage possibly or a more complicated scenario. Anything else let me know!
Is there a mortgage broker from dummies program or book? I took the pre license test( a weekend course I paid for) a few years ago and actually passed but barley and I knew I was nowhere near ready for the actual license test, but I haven't even attempted to continue that career path I chose the post office instead of going to quicken loans ... but now I'm interested in that path again.
Hi Alex, I'm looking to remortgage a property I've inherited from my Father, the house is worth roughly 120k, and I'm looking to borrow 40k, this will clear the outstanding mortgage (14k) with Lloyds, and leave me with money to complete some improvements to the home, my mortgage broker says I have been pre approved, and I'm just waiting for grant of probate before a take things from there, I'm just wondering about what being "pre approved" actually means, especially with impending interest rate increase, any help or advice would be greatly appreciated.
Thanks Alex, I've been really working to bring down some debts that I have, and by the time I apply for the mortgage I will have roughly 5k of credit card debt, no adverse credit, late payments or defaults at all, wil having that amount of debt affect the mortgage application, even if I'm planning to pay it in full, in the event of obtaining the mortgage?
Hello anyone know how far can you buy a house from your job ? Do you have to work on a especific town to buy a house there or you can work in one town and buy a house in another town I was thinking to buy a house 35 miles away and it's about a hour driving from my work . Thank you
Hi Natalie, yes indeed… We have access to over 100 banks in our panel. Please feel free to book a free chat using this link - link.coursecreator360.com/widget/appointment/mortgage-chain
do you know how i can find an independent mortgage broker here in missouri, usa? i can only find mortgage lenders, or loan officers that work with certain lenders. thanks.
To ensure you get the best deal, it's important to understand what a mortgage broker does and how they can help you. A mortgage broker is a professional who acts as an intermediary between buyers and lenders, such as banks or other financial institutions. They work to find the best loan terms and conditions for their clients, providing access to the best products and interest rates. Take control of the home-buying process and get the right advice!
VERY WELL EXPLAINED, THANK YOU VERY MUCH!
As a broker myself this is a great video. I just made my first video today.
Well done Justin, great work! Have you got a channel yet ?
Well done buddy, a really good advert for our industry. John (Wales)
Cheers John, appreciate that, hope you are good, hows the market in Wales ?
Thank you! God bless you! God bless everyone!!!❤️❤️❤️
Your channel and advice are fantastic.Thanks for all you do!
My pleasure!
Thanks for the reply Alex about mortgage advisor fee's so is that classed as product fee? Or is mortgage product fee + advisor fee?
A mortgage broker fee is separate to a mortgage lenders product fee, so it would be, as you say a mortgage product fee plus advisor fee.
Quick question can I get a buy to let mortgage without finding a a house? After the mortgage has been approved I can find a house. Is that possible?
You can get an agreement in principle first but not a mortgage, as the properties the security that the mortgage lends the money on
@@alexkerrmortgage thank you.
Great video! Thank you! Just a question for BTL mortgage, as a first time buyer, can I purchase my first property under a limited company? Or it has to be personal? Cheers!
Thanks for watching! You can do it under a limited company, just make sure it’s a mortgage lender, who allows a first time buyer, first time landlord.
@@alexkerrmortgage thank you!
Looking into becoming a broker - thanks for the information!
Best of luck!
Thanks Alex, very helpful.
Can I ask at what point would you suggest getting a broker?
For example, would you do that before finding a property? Or find a property and make an offer first?
Would the broker provide the solicitor for you? And if not, would you get a broker involved before sourcing your own solicitor?
Many thanks!
doreeneb broker first!! They will go through affordability etc and yes they can definitely help find a solictor!
@@alexkerrmortgage thank you!!
@@alexkerrmortgagem. . mm
Thanks for the information but I was turned off by the gross generalization of working with a lender or “bank”. Since 65% of all mortgages are Fannie and Freddie backed in the US, we are all selling green money. It might be better to go into further detail or be much more concise with your presentation.
I do not really understand what you are saying but UK banks are not backed by the US.
Hi Alex
Can you recommend a mortgage broker who specialises in shared ownership with a single person applying?
Thank you
Jules
Yes indeed. Me! Please feel free to book a free chat with me using this link - link.coursecreator360.com/widget/appointment/mortgage-chain
My broker is mad at me for complaining about my cancelled application - the lender has replied to my complaint offering to reopen it upon some conditions. Broker seems to feel I should not have done this but they cancelled the application because he didn't respond to the lender's request for info! He fell asleep at the wheel and now worried I am ruining the relationship with the lender -- will he try to sabotage my app and what can I do?
Hi Mbaku, you need a new broker! Difficult situation... I would personally start a fresh. It isn't ideal going direct to the lender yourself.. tricky.. happy to help if you need it. alex@mortgagechain.co.uk
Hi Alex, I have a question. Our mortgage has been approved and released by Barclays using help to buy schme. However, when we are nearing exchange seeking Help to buy to gives us authority to exchange, they have deferred the process because of the deposit incentives that the developer have given us. Now we have secured a new ATP from them as we have changed the condition of incentives and opted to pay the whole 5% deposit. My question is will the lender withdraw their offer due to this change in incentives? I am really desperate for advise and anxiously waiting if our purchase will materialize. I Hope you can help. Thank you
The lender will not withdraw. 👍🏻
@@alexkerrmortgage Thank you you just put my mind at ease. Your vlogs are my go to videos when i have some questions. You are helping a lot of us, keep up the good work. Godbleas.
Hi Alex
Thanks for your video, i am going to applied for mortgage full application but last month i lend some money to my fried as he was going through tough time will this outgoing effect my application. I still have enough money to show deposit
Hi Syed, this should not effect your application. Good luck! Alex
alexkerrmortgage thank you very much you so helpful stay blessed
Hi, My mortgage broker charaged £995 and said after my fixed rate the work will between £450 an £995 is this true can they charage everytime for renewel?
The amount of work in a remortgage is quite similar so yes, absolutely! Also, they will find you the best deal and save you much more than this compared to if you go to one or two banks on your own.
@alex, thanks for the reply is the classed as the product fee?
Hey Alex, great video as always! How much is a typical broker fee, what do you charge and at what point in the process would you usually expect to pay the brokers fee? I'm assuming at the end of the journey once everything is complete?
Hi Matthew, every company is different, but for us we start at £499 and go up to £1999 as a max. The more "complications" you have the higher the fee as more work will be required. Its usually between £499 - £999 and is charged once a mortgage offer is produced. This is the legal document which states the lender is happy to provide the mortgage! SO in other words the goods need to be delivered, and if they are not, the fee is not made. Does that make sense ? Alex
@@alexkerrmortgage It does, but in one of your other videos you have mentioned a two-fee process; one charge at the offer of mortgage, and a second upon completion (at the poin where the keys are handed over) is that not the method you adopt?
@@MANB91UK Hi Matthew, I just answered this one on the other comment you would have just received! The other channel is for brokers, we do not adopt this method for first time buyers... But would do on. a remortgage possibly or a more complicated scenario. Anything else let me know!
Is there a mortgage broker from dummies program or book? I took the pre license test( a weekend course I paid for) a few years ago and actually passed but barley and I knew I was nowhere near ready for the actual license test, but I haven't even attempted to continue that career path I chose the post office instead of going to quicken loans ... but now I'm interested in that path again.
I’m not sure about programs or books! I just took the CaMap course many years ago which is what you would need to take today.
Hi Alex,
I'm looking to remortgage a property I've inherited from my Father, the house is worth roughly 120k, and I'm looking to borrow 40k, this will clear the outstanding mortgage (14k) with Lloyds, and leave me with money to complete some improvements to the home, my mortgage broker says I have been pre approved, and I'm just waiting for grant of probate before a take things from there, I'm just wondering about what being "pre approved" actually means, especially with impending interest rate increase, any help or advice would be greatly appreciated.
It’s the first hurdle so you passed the credit score… What you really want is the mortgage offer.
Thanks Alex, I've been really working to bring down some debts that I have, and by the time I apply for the mortgage I will have roughly 5k of credit card debt, no adverse credit, late payments or defaults at all, wil having that amount of debt affect the mortgage application, even if I'm planning to pay it in full, in the event of obtaining the mortgage?
Hello anyone know how far can you buy a house from your job ? Do you have to work on a especific town to buy a house there or you can work in one town and buy a house in another town I was thinking to buy a house 35 miles away and it's about a hour driving from my work . Thank you
I would say that's properly just about near the limit… Any more and mortgage lenders might start to question it but I think you will be okay.
@@alexkerrmortgage thank you for your reply
If you are rejected from a bank, can mortgage broker help?
Hi Natalie, yes indeed… We have access to over 100 banks in our panel. Please feel free to book a free chat using this link - link.coursecreator360.com/widget/appointment/mortgage-chain
Is it true they charge between 500-2000£??
This sounds about right, the more complicated the scenario, possibly the higher the fee.
@@alexkerrmortgage is this fee every time the term finishes i.e. after 2 years a fee is or it over the term of the mortage?
How much a mortgage broker charge for the service aprox?
This is almost impossible to answer! It depends on your circumstances and the service the broker is offering.
do you know how i can find an independent mortgage broker here in missouri, usa? i can only find mortgage lenders, or loan officers that work with certain lenders. thanks.
Sorry I am UK, no clue about USA!
how do mortgage brokers who offer their service for free make money? do they earn commission from the lender?
Hi Tia, yes that is correct, all mortgage brokers receive a commission from the mortgage lender.
@@alexkerrmortgage which is now prohibited by Royal Commission.
What is the Brokers fair fee for a 760000k loan? I'm being asked .25%??
I would charge £999 for this if its a high street case.
great video
Thanks for watching!
To ensure you get the best deal, it's important to understand what a mortgage broker does and how they can help you. A mortgage broker is a professional who acts as an intermediary between buyers and lenders, such as banks or other financial institutions. They work to find the best loan terms and conditions for their clients, providing access to the best products and interest rates. Take control of the home-buying process and get the right advice!
Have you heard of the organisation"progressive property"
I’m afraid I haven’t
I’m afraid I haven’t
Can I get a 5% mortgage deal
There are 95% mortgages available at the moment, is that what you are looking for?
How do I find a broker?
Hi John, just email alex@mortgagechain.co.uk and I can help you (I am a broker). Many thanks, Alex
hmmm... you sound like a mortgage broker....