Does
121-Mortgage-Advice offer advice on which is the best mortgage
for me?
YES.
We are authorised to give advice, unlike many of the other
online companies. This means that not only will you get the
competitive rate for your mortgage, but we will also ensure
that we arrange the most appropriate mortgage to suit your
individual needs and circumstances. 
Why
do you not charge broker fees to arrange my mortgage when
other brokers do? Is it true to say that you get what you
pay for?
Currently
Section 155 of the Consumer Credit Act states that brokers
can charge only £5 if a mortgage does not proceed to
completion. FSA are to implement new rules scrapping the minimum
£5. We work on the basis that if we get you the mortgage,
we get paid. If we don't, then we do not deserve to be paid.
The service that we offer is totally free to you. We receive
a fee from the lender when your mortgage completes and we
will disclose the amount to you before you go ahead with any
application. The fee we receive does not affect the mortgage
deal that you receive in any way. The reason that the lender
pays a fee is that it is a cost-effective way for the lender
to obtain new business without the cost of having a high street
branch network, salaries, advertising etc. Brokers who charge
fees also receive an introductory payment from the lender
on top of the fee they have charged you. It is difficult for
you to judge the quality of advice until you actually see
it. You would not buy a box without first knowing what is
inside it. We are prepared to show you what we can offer without
charging you for the privilidge. We would ask you to tell
any broker that if they are confident that their advice is
as good, then they should have the confidence to do the same
and let you make up your own mind up as to which is the most
suitable for you.
I
have been refused credit in the past and am worried that I
will be refused a mortgage, what should I do?
If
you have any concerns about your credit history, then you
should attain your credit files from Experian and Equifax.
These are the credit agencies that hold information about
you and how you have conducted your finances over the past
6-years. Lenders use informtion provided by these agencies
in deciding whether or not to lend to you. It costs £2
to get your files and takes around 1-week. Click on the links
above to get full instructions of how to attain your credit
files.
I
have adverse credit due to either missed payments, CCJ's or
defaults. Can you get me a mortgage?
We
do not specialise in adverse credit mortgages. This is quite
a complex area and it has mortgage brokers operating within
it that solely arrange mortgages for people who have had problems.
If you want our assistance, then we will try to help you providing
you get your credit files together and your problems have
not been too severe.
Can
I get a mortgage offer agreed in principle before I have found
the property I want to buy?
Yes.
121-Mortgage-Advice will search for and identify the mortgage
that will suit you, before you find a property, and can get
you to the point of having an Approval in Principle. This
can be helpful in getting the process going, but the lender
won't make a formal mortgage offer until a valuation has been
carried out on the property you wish to buy or remortgage.
Is
it better to use a lender's site or a broker's?
The
service that we offer is totally free to you. We receive a
fee from the lender when your mortgage completes and we will
disclose the amount to you before you go ahead with any application.
The fee we receive does not affect the mortgage deal that
you receive in any way. The reason that the lender pays a
fee is that it is a cost-effective way for the lender to obtain
new business without the cost of having a high street branch
network, salaries, advertising etc. You could use the site
to find the best mortgage for you and then go direct. However
this does not mean that the mortgage deal that you will receive
will be any cheaper. We're on your side. We can chase your
mortgage application through to completion. We know the lenders
that will get on with the application quickly and we also
know the lenders that will take weeks just to look at your
case. We also act as a point of contact for Estate Agents
so that you are not being constantly hassled.
Will
the 121-Mortgage-Advice keep me up to date with my mortgage
application as it goes through the system?
Unlike
some other online mortgage services which sub-contract their
applications administration to another company, 121-Mortgage-Advice
will handle every application we receive. As soon as we receive
your application we check to ensure that it has been fully
completed, we will then package your mortgage application
so that it will be presented to the lender in a format that
gets results. You will be updated in real time via phone,
email or SMS text messaging.
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