As a trusted name in the mortgage industry, Wakefield Mortgage Services has been helping people throughout Wakefield and Leeds achieve their dream of owning a home or growing their property portfolio for many years. While our name suggests that we only operate in Wakefield, we are proud to serve customers throughout Leeds and the surrounding areas and have become a trust mortgage advisor in leeds and the surrounding areas with a wide range of mortgage services to meet their diverse needs.
Whether you’re a first-time buyer, self-employed, or have adverse credit, we have a mortgage solution that can work for you. In this blog, we will explore the key services that we offer, including first-time buyer mortgages, self-employed mortgages, re-mortgaging, adverse credit mortgages, buy to let mortgages, shared ownership, and secured loans.
With over 10 years experience in the mortgage and financial services industry, we have (almost) come across every possible scenario that you can imagine. Our knowledge of the industry and years of experience will ensure that you secure a mortgage and our determination to provide you will a 5 star service throughout your journey will make the whole experience as stress free as possible!
Although we are based in Wakefield, we advise on mortgages up and down the country and serve all of Leeds.
Our job is to search and compare products from the whole of the market, which includes lenders that would not normally offer their products direct to consumers, meaning that we can offer a much broader selection of options for your mortgage and we are much more likely to find the right product to fit your circumstances. If you went direct to a lender, you would be limiting your options and could be costing yourself thousands in the long run.
We do the legwork for you, as searching yourself can be extremely time consuming. We know the lenders we work with inside out and will be much quicker in securing your mortgage.
Maybe you have a history of missing payments? It might be that you have defaults or CCJs and have a poor credit rating in general. The good news is that there are mortgage lenders that specialise in helping people with bad credit and our mortgage brokers in Leeds can help you secure one of these mortgages.
We will ask you for an up to date credit report which will tell us exactly what the credit issue is, when it occurred and how much it was for. We can then cross reference this information to ensure we are obtaining the most competitive adverse mortgage product possible for you.
Mortgage providers all have different ways of assessing your affordability and what they are willing to let you borrow. If you’ve been offered a low amount with your bank, it doesn’t necessarily mean that’s all you can borrow, as other banks may offer you more. In fact, it’s quite often that we speak to clients that have been disappointed by their banks or building societies and we are able to help them borrow more.
If you want to know where you stand with your borrowing, then pick up the phone and speak with one of our mortgage advisers in Leeds. It’s our job to search the market, use mortgage lender’s affordability calculators and find the best option for you.
A buy to let mortgage is for people who want to purchase a property in order to rent it out. You can change your existing mortgage to a buy to let mortgage in certain circumstances.
Normally you will need at least 25% deposit, but there are lenders on the market that offer mortgages with less of a deposit.
Interest only mortgages are more readily available with buy to let mortgages and can help to ensure you are maximising the profit from each property that you rent out.
We deal with all aspects of rental properties, get in touch with us for more information.
When it comes to remortgaging, you have the opportunity to borrow more against your home to make home improvements, a house extension or to pay off your unsecured debts.
In doing so, you may be able to reduce your monthly outgoings and make your finances a little more comfortable, however it’s important that you properly way up the consequences of doing so, as this is likely to be more expensive in the long run.
You should think carefully before securing other debts against your home. By adding your unsecured debts to your mortgage, which is secured on your home, you are potentially putting your home at risk if you cannot make the required repayments.
As always, to ensure you receive the best unbiased advice get in touch with us today.
Generally speaking, self employed people will be able to apply for the same mortgages as anyone else but it can be tricky obtaining an agreement in principle depending on your circumstances.
Lenders will normally require the last 2 years’ of your accounts, however if you have less than this there are still options available and the best way of understanding your options is to speak to one of our expert mortgage brokers based in Leeds who will explore all of the products available to you, ensuring that you application is presented in the best possible light.
Roughly six months before you’re due to finish your current fixed rate mortgage, your lender will write to you to let you know what products they have on offer, but is staying with your current mortgage provider the best thing to do?
It could well be, however it’s not always the case and speaking to one of our independent mortgage brokers in Leeds will be able to break down the cost for you and make you aware of what other deals are on the market.
We always recommend having a chat with an adviser well in advance of your rate coming to an end, that way we have the time to be able to search for the best deal possible and save you money.
If you don’t have a deposit together or have been renting and haven’t had the spare cash to put away, then there are options out there for you.
Tenants who have rented their property for 12 months and have made their payments on time could be eligible subject to full criteria. There are lenders who can accept loans as deposits, there are lenders that allow a 100% shared ownership mortgage and almost every lender would be happy with you using a gift from a family member for your deposit to help you purchase your first home.
Please reach out to us if you would like to explore your options, as you don’t always have to wait to save up before owning your dream home.
The answer is zero! There are mortgage lenders that can consider your new job from day one, so there is no need to put off securing a mortgage and moving into your dream home.
Some lenders can even work on your new contract up to 3 months in advance, so you don’t even need to have started your new job for us to be able to help you.
If you are unsure, get in touch and give a mortgage advisor in Leeds a call.
Buying your first home can be an exciting but daunting experience. We understand that you may have questions and concerns about the mortgage process. That’s why we offer expert advice and guidance every step of the way. We will help you understand the different types of mortgages available and find the right one for your needs.
When it comes to first-time buyer mortgages, we understand that every customer’s situation is unique. Whether you have saved up a large deposit or are looking for a low-deposit mortgage, we can help you explore your options and find a mortgage that suits your needs.
One option for first-time buyers is a shared ownership mortgage – We’ll look at this in more detail later in the blog.
If you’re self-employed, you may think that getting a mortgage is out of reach, particularly if you haven’t been self-employed for very long, but that’s not the case. At Wakefield Mortgage Services, we specialise in helping self-employed individuals secure mortgages. We understand that your income may not be as straightforward as someone who is employed, and we will work with you to find a mortgage that fits your unique financial situation.
One of the biggest challenges that self-employed individuals face when applying for a mortgage is proving their income. Unlike those who are employed, you may not have a steady salary or regular payslips to demonstrate your income. However, this doesn’t mean that you can’t get a mortgage.
One option for self-employed individuals is a mortgage based on your net profit. This type of mortgage looks at your business accounts to determine your income, rather than just your salary. This can be a great option if you have fluctuating income or if you have recently started your own business.
If you already own a home, you may be considering re-mortgaging. Re-mortgaging can be a smart financial move that can save you money in the long run. At Wakefield Mortgage Services, we can help you explore your re-mortgaging options and find a solution that works for you.
There are many reasons why you might consider re-mortgaging. For example, you may want to switch to a new mortgage with a lower interest rate, which can help you save money on your monthly repayments. Alternatively, you may want to release equity from your home to fund home improvements or other expenses. Whatever your reason for re-mortgaging, our team can help you explore your options and find a solution that meets your needs.
If you have adverse credit, you may think that getting a mortgage is impossible. However, at Wakefield Mortgage Services, we understand that life can be unpredictable, and sometimes things happen that can impact your credit score. That’s why we offer our expertise in adverse credit mortgages to help customers who may have been declined by standard lenders.
Adverse credit mortgages are designed for customers who have a poor credit history, such as missed payments, defaults, or CCJs. These mortgages can be more expensive than traditional mortgages, but they can be a great option if you have been declined by other lenders.
At Wakefield Mortgage Services, we have access to a wide range of adverse credit mortgage products and can help you find the right solution for your needs. We understand that each customer’s situation is unique, and we will work with you to understand your circumstances and find a mortgage that meets your needs.
If you’re looking to invest in property and become a landlord, you may be considering a buy to let mortgage. Buy to let mortgages are designed for customers who want to purchase a property to rent out to tenants. At Wakefield Mortgage Services, we can help you explore your buy to let mortgage options and find a solution that works for you.
One of the key considerations when taking out a buy to let mortgage is the rental income you will receive. Lenders will typically require the rental income to cover the mortgage repayments and some additional expenses. Our team can help you understand the rental market in your area and find a property that can generate the rental income you need to cover your mortgage repayments.
Shared ownership can be a great way to get on the property ladder if you can’t afford to buy a home at its full value. This scheme allows you to buy a share of a property and pay rent on the remaining share. You can gradually increase your share of the property over time until you own it outright.
At Wakefield Mortgage Services, we can help you explore your shared ownership options and find a solution that works for you. We understand that shared ownership can be a complex process, and we will work with you to explain the process and answer any questions you may have.
If you’re a homeowner, you may be able to access a secured loan, which is a loan that is secured against your home. These loans can be a great way to access additional funds if you need them, but they come with risks. If you’re unable to make the repayments on a secured loan, you could risk losing your home.
At Wakefield Mortgage Services, we can help you understand the risks and benefits of secured loans and find a solution that works for you. We work with a wide range of lenders and can help you access the funds you need to achieve your goals.
A commercial mortgage is a type of loan that is used to finance a property that is intended for business or commercial use, such as an office building, retail space, or warehouse. Unlike residential mortgages, which are used to finance homes, commercial mortgages are typically larger and have different terms and conditions. Interest rates on commercial mortgages can vary depending on a number of factors, including the borrower’s creditworthiness, the size and type of the property, and the current market conditions. In general, commercial mortgages are considered to be riskier than residential mortgages, which means that they often come with higher interest rates and stricter qualification requirements.
Protection products such as life insurance, critical illness cover, and income protection are designed to provide financial security in the event of unexpected circumstances that could affect your ability to work or support yourself or your family. Overall, protection products can provide peace of mind and financial security in times of uncertainty. It is important to carefully consider your individual circumstances and needs when choosing a protection product.
At Wakefield Mortgage Services, we are proud to serve customers throughout Wakefield and
Leeds with a wide range of mortgage services to meet their needs. Whether you’re a first-time buyer, self-employed, or have adverse credit, we can help you find a mortgage solution that works for you.
Our team of expert advisers are here to guide you through the mortgage process and help you understand your options. We pride ourselves on offering exceptional customer service and building long-term relationships with our customers.
If you’re looking for a trusted name in the mortgage industry, look no further than Wakefield Mortgage Services. Contact us today to learn more about our services and how we can help you achieve your dream property goals.
