Mortgages
Welcome to our Mortgage section. Here you will find a range of mortgage solutions tailored to your needs. We will guide you through the process and help you find the best mortgage options available. Take a look at the services we offer below to learn more.
Mortgage Consultation
Our Mortgage Consultation service is designed to provide you with expert advice and guidance on finding the right mortgage for your needs. We will analyse your financial situation, discuss your goals, and recommend the most suitable mortgage options for you. With our help, you can make informed decisions and secure the best mortgage deal.
Mortgage Pre-Approval
With our Mortgage Pre-Approval service, you can get a clear understanding of your borrowing capacity before you start house hunting. We will assess your financial situation, review your credit history, and provide you with a pre-approval letter. This will give you confidence when making offers on properties and help you stand out as a serious buyer.
Re-Mortgaging
If you're looking to lower your monthly mortgage payments, consolidate debt, or access equity in your home, our Re-Mortgage service can help. We will assess your current mortgage, evaluate the market conditions, and provide you with refinancing options that can save you money or meet your financial goals. Let us help you make the most of your mortgage.
Mortgage Solutions Tailored to Your Needs
Buying a home with a mortgage is a major financial undertaking, often becoming the most substantial monthly outlay for many.
Engaging a whole of the market broker such as Solve Mortgages can potentially save you thousands of pounds throughout the duration of your mortgage.
We offer mortgage advice for:-
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First Time Buyers
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Home Movers
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Re-mortgages
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Limited Company Directors
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Self-Employed and Contractors
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Professionals
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Adverse Credit
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Buy to let
Solve Mortgages Help You By:-
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Comparing the whole of the market, sourcing the best rate for you.
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Find the most suitable mortgage provider for your situation
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Undertaking the whole application process and continue to review rates from offer to completion
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Guiding and assisting you from start to finish
Why Should You Use Solve Mortgages?
No ties we are fully independent
Whole of the market
No hidden fees
We listen to you
Solve Mortgages collaborates with more than a hundred different lenders, such as High Street Banks, Building Societies, Challenger Banks and Specialist Finance Companies. We can access over 10,000 mortgage products, some of which are exclusive to intermediaries like Solve Mortgages.
Lenders often change their rates, which makes it harder to find the best rate on your own.
That's why you need a mortgage broker like Solve Mortgages, who can search the whole market and find the best mortgage rate, lender and term for your situation.
We help you save as much money as possible.
We also keep an eye on the rates after you receive your mortgage offer. If a lower product rate becomes available from the same lender and you qualify for it, we will switch the product for you.
If you go directly to a lender, you have to monitor the rates yourself and contact the lender to make any changes. We have switched rates for clients several times between offer and completion, saving them thousands of pounds before their mortgage even started.
Solve Mortgages is here to help you with the mortgage process from start to finish. Whether you are a first-time buyer, moving home or looking to remortgage for a better deal, we guide and support you every step of the way.
Choosing the Appropriate Lender for Your Needs
Securing the best mortgage rate involves finding the right lender for your circumstances. There are many factors that influence the rate you can obtain, including:-
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Loan to value
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Credit history
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Affordability
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Lending criteria
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Employment status
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Income
The best rate for your situation may not come from the lender that your friends, relatives or the pub regulars recommend. Do not rely on their advice alone.
The mortgage market is diverse and complex, with more than a hundred different lenders offering various criteria and rates for a given loan to value. To find the best rate for your situation, you need a broker who can access the whole market and compare the options. That's why Solve Mortgages is the key to your solution.
How Much Does a Mortgage Cost?
Over the term of a mortgage the amount of interest you pay can cost you hundreds of thousands of pounds.
Examples
A mortgage for £150,000 for a term of 25 years at an average interest rate of 5.67%* would cost you £280,926 in total. (*This is the average mortgage rate between 1995 and 2023)
Meaning you would pay £130,926 in interest over the term of the mortgage.
More and more people are having to take mortgages over longer terms to make repayments more affordable. The longer the term the less your monthly mortgage repayment will be. However, this means you will pay more interest.
Therefore, the same mortgage over 35 years would cost £345,368, that makes the interest payable £195,368.
Going direct to your bank could cost you thousands of pounds over the term of your mortgage.
Cheapest isn't Always the Best
The lowest mortgage rate is not always the best indicator of the cheapest mortgage.
Some lenders may impose various fees on certain mortgage products, such as product fees. These fees can be high, often around £995 or more, and they can increase the overall cost of the mortgage significantly.
Therefore, it is important to compare all the mortgage options available for your situation and choose the best product that will help you save money over the duration of your mortgage.
Solve Mortgages can help you with this process by providing you with expert advice and guidance on the most suitable mortgage product for you.
Preparation is Key
Preparation is the key to a successful mortgage application. We recommend that you do the following in any situation:
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Check your credit report and correct any issues.
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Ensure your bank accounts are in good order and avoid using your overdraft.
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If possible clear debts and avoid taking out any new finance agreements.
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Have your deposit in a separate savings account.
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Ensure you are on the Electoral roll and all your ID is valid and in date.
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For the self-employed and Limited Company Directors have your accounts completed by an Authorised Accountant.
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Speak to Conveyancers if you are purchasing a new property.
Mortgage Affordability
How much can you borrow?
At Solve Mortgages, we do not offer a mortgage affordability calculator on our site. This is because different lenders have different criteria for assessing your affordability.
They may consider your income, debts, outgoings and other circumstances in various ways. As a result, one calculator may give you a very different amount than another.
Online calculators can also be misleading, especially if you enter incorrect information.
This can cause huge disappointment when you cannot buy the house of your dreams because the lender will not lend you the amount you need.
In our initial meeting, we can give you an estimate of how much you can borrow, but we can only confirm this after we have completed a full fact find and understood your situation.