Your Mortgage Questions Answered
As we've helped hundreds of people find exactly the right mortgage deal the chances are we've already got the answers to your most burning questions below.
And if you can't find what you're looking for, then pick up the phone or drop us a line.
Will you push me into buying only certain mortgage products?
A. No. We are totally impartial. We have access to thousands of products, including many exclusive deals, and we have no ties to any individual or groups of lenders. Our aim is to find the right deals for you, not for us or the lenders. We provide a shortlist of the best options for you based on your individual stated needs and circumstances, and you select the product you prefer. We help you make an informed choice and you stay in control at all times.
How much will it cost me?
In all cases, if we cannot secure you the finance you need it will cost you nothing. If you have paid an application or property valuation fee to a lender, some or all of this may not be refunded. We do not charge any upfront broker fees. Our usual fee is £350 and it is only payable on successful completion of the mortgage. We reserve the right to charge up to 1% of the mortgage value for more complex residential mortgages to reflect the additional time and resource required to secure your mortgage finance. For commercial mortgages, our fee is 1% of the loan value, payable on completion.
The fee we propose to charge will be disclosed to you at the outset to ensure that you will have no surprises on completion of your mortgage.
All loan payment details and other key facts on a selection of mortgage options will be provided to you before you complete any application forms. The mortgage fee will vary according to lender, product and proposed loan amount.
How do I pay my fees?
Fees in respect of residential, buy-to-let or commercial mortgages are payable by cheque or bank transfer at completion or via your solicitor.
Payments by cheque, credit or debit card in respect of valuation/administration fees charged by lenders must be submitted with your application and are payable direct to the lender.
Will I need a face to face interview?
No. You are welcome to make an appointment to visit us in our Bedfordshire offices or request an appointment at another location, but nearly all enquiries can be dealt with via telephone, email and post contact only.
Will I need to fill in lots of forms?
No. Our highly trained consultants will carry out an initial assessment of your personal and financial circumstances in order to obtain the best options for you, and/or get decisions in principle from your chosen lender if required. Only after this stage will you need to complete an application form in respect of the product you have chosen.
What information will I need to provide?
This depends on what type of mortgage or insurance you require. Initially we will need some financial and personal information to help us select the best available products for you from the market. We will also need to know whether you have had any problems or difficulties in the past. This won't prevent you accessing financial help, but will ensure that we target the right lenders for you.
To support your application, lenders will request additional documentation from yourself to verify your identity and address, for example a utility bill, driving licence or passport. This is a legal requirement under anti money laundering regulations and is mandatory in all cases. Please note, if we suspect that information provided is not genuine or illegal, we will report the matter to the regulator and/or the police.
It is important that you disclose all relevant information regarding your personal and financial circumstances correctly and accurately to the lender when submitting your application. Supplying false details may result in the rejection of your application with the loss of any application fee paid to the lender. In the worse case scenario, it may also be deemed as fraud and reported to the relevant authorities.
How long will it take?
We aim to provide the best available options from the market to you within 24-48 hours and the result of any decision in principle within 48 hours.
Getting access to money from lenders can take from 2 to 4 weeks (if, for example, you are remortgaging), and up to 8 to 10 weeks if you are purchasing a new property.
Speed is determined by how promptly and accurately all details are supplied both to us, your solicitor and the lender. If you do not have a solicitor we can help you select one if you wish.
Will you give my details to other parties?
No. We only share information with specialist lenders and agents with your permission. We are registered under the Data Protection Act 1998 and you can be assured that we will treat as confidential any personal or business information given to us. We do not pass on any of your details to any other company for marketing purposes. Occasionally we would like to inform you about our own products and services in the future but you can request not to receive marketing communications from us at any time.
What do I do next?
Pick up the phone, send us an email or fill in your details online via our contact us page. . We would be delighted to hear from you today.
Telephone: Bedford (01234) 346667 or Luton (01582) 722006
Email: info@tmp-mortgage-zone.co.uk
Post: TMP Mortgage Zone, 1st Floor, 60B Bromham Road, Bedford, MK40 2QG
Think carefully before securing other debts against your house. Your home may be repossessed if you do not keep up repayments on your mortgage.
