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Do you need a Mortgage Broker?

Video Transcript…


Narrator: Do you need a Mortgage Broker?

Narrator: Well, the honest answer is you don’t.

Narrator: You could go online or walk down the high street and hope the banks have just what you are looking for.

Narrator: Of course they won’t tell you about other lenders offering a better deal. And if you don’t perfectly fit their requirements they certainly won’t look around for a competitive alternative.

Narrator: Here’s why mortgage brokers are different…

Narrator: They have access to 100’s of lenders and 1000’s of mortgage products instead of just a handful.

Narrator: So you get far more choice which is probably what you want?

Narrator: Unlike banks they have to advise you which mortgage is suitable having considered all their available lenders – including high street banks.

Narrator: So you know they are impartial which is important too?

Narrator: And they have specialist lenders and knowledge to solve problems if other lenders say no or try to charge higher rates -plus they’ll help you with all the admin.

Narrator: So if there is something unusual they are more likely to help

Narrator: The in-house team of experts at Promise Money get enquiries from other mortgage brokers every day and help them find the best products for their clients.

Narrator: Now you can talk to the same experts direct about 1000’s of mortgages and loans for personal or business purposes.

Narrator: Your broker is there to make a measurable difference – especially if your circumstances are more complex. Whilst they normally charge fees, getting the right mortgage could save you £1000’s and chatting to an adviser to get indicative offers costs you nothing. If they haven’t found you a better deal you can walk away.

Narrator: So talk to an expert on 01902 585020 or visit promisemoney.co.uk

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2 out of 3 borrowers get a lower rate than our representative example of a regulated secured loan below:

Mortgages and Remortgages

Representative example

£80,000 over 240 months at an APRC OF 4.3% and a discounted variable annual interest rate for two years of 2.12% at £408.99 per month followed by 36 payments of £475.59 and 180 payments of £509.44. The total charge for credit is £39,873 which includes a £995 broker / processing fee and £125 application fee. Total repayable £119,873.

Secured / Second Charge Loans

Representative example

£63,000 over 228 months at an APRC OF 6.1% and an annual interest rate of 5.39% (Fixed for five years – variable thereafter) would be £463.09 per month, total charge for credit is £42,584.52 which includes a £2,690 broker / processing fee. Total repayable £105,584.52.

Unsecured Loans

Representative example

£4,000 over 36 months at an APR OF 49.9% (fixed) and an annual interest rate of 49.9% would be £216.21, total charge for credit is £3,783.56. Total repayable £7,783.56.


THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME

REPAYING YOUR DEBTS OVER A LONGER PERIOD CAN REDUCE YOUR PAYMENTS BUT COULD INCREASE THE TOTAL INTEREST YOU PAY. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.


Written terms available on request. Loans are subject to affordability status and available to UK residents aged 18 or over. Promise Money is a trading style of Promise Solutions Ltd. Promise Solutions is a broker offering products which represent the whole of the specialist second mortgage market and is authorised and regulated by the Financial Conduct Authority – Number 681423.