We are a professional finance broker and we have offices in Poole, Dorset. Are you fed up with the high pressured sales tactics of the large corporates, Barrett Mortgages was set up by founder Darren Barrett in 2009, during some of the hardest market conditions the industry has seen. The unparalleled, clear, trustworthy, honest and upfront service offered by Barrett Mortgages has meant our business has thrived during these times when clients have needed more individual and specialist help.
All of our staff are fully qualified, experience and chosen based on their keenness to provide the best possible experience for our customers. We promise no pushy hard sales tactics and have built a strong reputation which is important as we rely heavily on referrals from clients. We would like to take the time to talk to you about your mortgage or insurance-related needs and would be pleased to discuss further the service we offer.
According to a survey, 31% of people who rent or have a mortgage find that payments take up more than a third of their total household income. Even if your mortgage payments are below this level, if they are a significant part of your budget then getting the best possible deal could be a significant boost to the family finance and ultimately your personal wealth.
Like any other business, a mortgage company needs to be on the lookout for new customers. To attract them, lenders may offer very attractive rates for a limited period of time. These periods are normally what we call introductory rates. In the UK these generally last about two to five years. After the introductory period has ended, the mortgage will continue on the lender’s standard variable rate (SVR). At this point, borrowers have essentially three options stay on the SVR, remortgage with the existing lender or remortgage with a new lender.
Although there is a potential to make some healthy savings by remortgaging, it’s worth remembering that there are also costs involved. As you are essentially taking out a new mortgage, you will be looking at paying the same sort of fees as you did when you first brought your house. Staying on the SVR makes sense if the costs involved setting up a new mortgage outweighs the savings, for example, if your mortgage is due to end in a few years anyway.
We don’t only help people who want to remortgage their home. We can also help you if you want to make an investment in property and get a buy to let mortgage. Our great team can source from a suite of lenders and compare products to ensure you have the best mortgage that suits your individual circumstances. We understand investors need to maximise on income and ensure the right product to help you grow your investment portfolio. Our advisor will understand your needs whether you are looking for that 1-time investment or to build a portfolio of properties.
Many people left the market in 2008 and a few limped on, realising that being a landlord is often quite demanding. There is still a place for serious buyers to letters in the market. You cannot use a conventional mortgage or insurance to a buy to let property and switching a regular residential home over to rental use requires a special buy to let mortgage. A mortgage for rental property will typically have a much higher interest rate than a residential mortgage. A really good aspect of having a buy to let mortgage is that the mortgage is usually interest only and this means you will only have to pay the interest on the property and not the loan capital itself.
If you are interested in any of our services please make sure you get in contact with us and we will be able to help you out.