Frequently Asked Questions
At the mortgagequotez.co.uk we are committed to ensuring you're always getting the most from your mortgage. What else would you expect from the UK's number one choice for mortgages ?
We have provided you with some frequently asked questions to help you obtain answers to your queries.
Do you:
Can you get a mortgage if you have a County Court Judgement (CCJ)?
Having such a judgement listed against you may mean it is difficult to obtain a mortgage through most lenders. However there are an increasing number of specialist lenders who will lend to people with a CCJ or other credit problems. Tick the Impaired Credit option on our Mortgage Wizard preferences page to see a selection.
How do we handle your mortgage application?
As soon as we get your application, we assign a dedicated Customer Services Associate to your case, backed up by a 'buddy' in case they are ill or away. This means you have a named contact and someone who is familiar with your case to call on. Customer Services Associate will follow your application through from start to finish and tackle any problems that arise on the way.
How secure is our website?
The passing of confidential information to our web site is encrypted using secure sockets, which means only our own servers can read the material as it goes across the internet. Technically minded users may like to know that the encryption is done over a 120-bit SSL connection and is guaranteed using a Verisign certificate.
What is Mortgage Regulation?
The Financial Services Authority (FSA) from 31st October 2004 will regulate Mortgage Lending, sales and administration.
What is a mortgage?
A mortgage is a means by which a "borrower" receives a loan from a "lender", normally a building society or bank, in order to purchase a property. The loan is repaid over a set number of years (often 25 years but this might vary) in monthly instalments. The purchased property acts as security for the loan. If the purchaser fails to make their repayments, then the lender would be entitled to repossess the property.
What is the rate of Interest?
The rate of interest is an amount of money, included in your monthly mortgage repayments, giving the lender a financial return on their loan.
How can Mortgage Quotes help?
Our team know the mortgage market and we work to find the best mortgage for you. We are also able to help people who are having difficulty in obtaining a mortgage, maybe due to difficulty in proving income or having had credit problems.
Our panel of mortgage brokers/advice companies are all authorised or regulated by the Financial Services Authority, each of our panel specialises in different sectors of the market. So they have developed expertise and relationships with lenders to best serve each type of borrower.
Article on Mortgage
In UK one can avail secured loan for any purpose with ease. There are number of lenders in the loan market place who are now providing secured loan to the UK people having different financial and credit back grounds. Secured loans for the UK people are available for any purpose like home improvement, buying a new dream car, paying for your child’s tuition fees, debt consolidation, going to a holiday tour or for wedding.
You should be offering any asset like home as collateral to the lender in taking secured loans. Main advantage of collateral is that it enables in borrowing greater money at lower interest rate. Apart from lower interest rate, secured loans have this added advantage of larger repaying duration ranging from 5 to 30 years. So, lower interest rate and convenient repayment makes secured loans for the UK people attractive.
The loan amount depends on value of asset that you pledged as collateral. The lender sees your capacity to repay the loan in determining the loan amount. But usually greater amount can be borrowed without any hurdles.
Another big advantage of secured loans is that the bad credit borrowers of the UK are full at ease in taking the loan as lenders have no major risks. But you should be particular in paying back the loan as your home is at risk.
In the UK, bank and financial companies are amongst the source of secured loans. However, online lenders should be given preference for a comparatively lower rate loan and for cost free processing of the loan. Take rate quotes of the lenders first to extensively compare the lenders. You will surely find a suitable lender for your circumstances in the UK. Pay the loan back in timely manner so that your credit score moves up for a better loan in future.
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