AFP Mortgages are independent Mortgage Brokers and Protection Advisers based in Maidenhead
For many years, I have been a specialist in helping clients attain high value mortgages, often where there is a history of complex income structures or other out-of-the-ordinary factors in respect of traditional lending criteria.
I work with all lenders – high street banks, private banks, challenger banks and assorted specialist lenders - and I have spent many years building such valued relationships. As a result, those well-established bonds often result in some leverage for my loan applications.
Furthermore, we are privileged to be on key lenders’ ‘exclusive panels’ which occasionally allow access to mortgage products at discounted rates of interest, designed especially for lenders to meet their lending targets.
An achievement that I am quite proud of is my contribution to a 10yrs+ general campaign for the entitlement of older borrowers to mortgage borrowing. It involved many meetings and discussions with lenders, journalists, regulatory bodies and even articles written, in order to drive home this empowerment and right. Now, lenders have ‘seen the light’ and a growing number is active in and lending to this particular market: more lenders will join the party, over time.
In the words of Bob Dylan, “The Times They Are A Changin” and here are two examples of such lending in that arena:
A recent £1m residential re-mortgage for a client who is 80yrs of age – he could afford the monthly interest-only payments and the mortgage interest rate / fees were significantly lower than the alternative option i.e. equity-release.
I was delighted to help a couple, 85yrs and 82yrs young, achieve a £300k re-mortgage on a 5yrs fixed rate at 3.3%. They had no existing mortgage encumbrance but wanted to ‘gift’ £150k to each of their grandchildren.
A significant amount of my business is introduced to me by professional firms that hold fast to my basic principles:
honesty with advice
transparency regarding fees (more often than not, I don’t charge one)
effective use of my client’s time and of my own time
Such an adviser will have an in-depth knowledge of the products available and the terms and conditions that apply to each one. High street lenders can only offer a mortgage from their own ranges and can be relatively inflexible on lending criteria, rates and fees.
Such an adviser will have access to the growing number of lenders who have no high street presence: an independent adviser, with access to the whole of the market, is more likely to find you the best deal available.
Such an adviser will not work for an estate agent or work in an estate agent’s office. Estate Agents are paid by the vendors and many of us will question whether they can also act for the buyers, by arranging the mortgages for them.
Such an adviser will have the experience and expertise to weigh up all of the variables and recommend the right lender for your circumstances, and then negotiate the most suitable deal. Comparison websites and ‘best buy tables’ cannot reflect the wide range of factors that will affect the overall cost of a particular mortgage product.
Such an adviser will negotiate with the lender on your behalf. He or she will know if the lender is taking a reasonable approach to your application, taking too long to process it or making unreasonable demands for information. He or she will also be able to explain the whole process to you in a straightforward, professional manner and be able to complete the entire mortgage process, from outset to completion, on your behalf.
Such an adviser will have developed relationships with a number of lenders over the years. This may mean that the lender will be more flexible in their approach to your application.
Such an adviser adds value that is recognised by lenders and many of the latter offer exclusive products via independent intermediaries.
Such an adviser will be able to offer information, advice and arrange the most suitable life assurance to cover the mortgage commitment.