Confused about mortgages?
Whether you’re a first-time buyer, moving home, remortgaging or buying to let, we’re here to help. At BR Needham, our qualified advisers do the hard work for you and help you make those important property purchasing decisions – whatever type of mortgage you’re looking at.
As expert mortgage brokers based in the UK, we understand that choosing the right mortgage is a complex process which can present a number of obstacles.
Our dedicated 1-2-1 mortgage advice allows you to overcome these challenges and explore all of the options available, so you can get the mortgage that’s right for you.
If you are experiencing financial difficulty and struggling to make repayments, then you can contact your lender who may be able to help taking account of your individual circumstances.
You may want to contact one of the free impartial money guidance and debt advice services such as StepChange, Citizens Advice, or Turn2Us
What Does A Mortgage Broker Do?
The ultimate aim is to secure the most suitable mortgage for our clients. That’s not just the cheapest – sometimes the cheapest deal isn’t the most suitable. We look at a range of mortgages from over 65 lenders and consider the client’s circumstances, needs and any flexible features they might want from that mortgage.
If you want to walk up and down the high street calling in to banks to check out their rates and whether they’ve got a deal for you, then good luck!
We have access to a comprehensive range of lenders from across the market. Once we understand your circumstances and what you’re looking to achieve, we compare all of those schemes to find the most suitable scheme for your needs.
All lenders have different criteria. A client with income that’s a bit variable from overtime or bonuses, for example, will be accepted by some lenders and not others. We will check that you meet the criteria of the lenders and work out which is the most suitable scheme for you.
Providers will lend different amounts as well. That amount can vary quite a bit depending on the lender we use. So what we’re really doing is looking at all of the lenders at once, saving you having to go through them one by one.
The first step is understanding the client, what you need from the mortgage and your circumstances. That way we can identify the right lender and the right scheme.
We then apply to that mortgage lender on your behalf. Then we will keep updating the estate agent and solicitor involved in the transaction. We answer any queries you’ve got along the way and chase it through until the mortgage progresses to an offer.
We work with a lot of First Time Buyers and when they come to us, they want to understand how much they can borrow and the monthly cost. We do that analysis and if they are happy, we would arrange an Agreement in Principle (sometimes called a mortgage in principle, a mortgage promise or a decision in principle). This is a certificate from one of the lenders confirming they are happy to lend the required amount.
That’s really powerful for First Time Buyers – it gives you peace of mind that you can get a mortgage. It means you don’t fall in love with a property you can’t get a mortgage for. The Agreement in Principle can be used with an estate agent to show you are serious about buying the property and you’re in position to go. You’ve taken financial advice. You’ve had a mortgage agreed in principle. You’ve got a deposit and are ready to proceed.
We’re doing a lot of remortgages at the moment because interest rates are currently increasing on a regular basis. We’re getting lots of enquiries from clients with a fixed rate deal that ends soon. We will review their needs and find a new scheme to start once their current one ends. That’s remortgaging. It’s effectively replacing your existing mortgage with a new one – either from the same lender or a different provider.
We also get involved in investment properties and helping clients that are looking to Buy to Let. You need a particular type of mortgage to buy a property and rent it out to tenants.
If you’re a first time buyer buying your first property, the exciting part is finding the property and getting the keys to your new home. We also make sure you’re adequately protected – both in the short term and in the future.
That may mean life insurance, critical illness insurance or income protection. We go through a review with each client to make sure that they’re adequately protected.
If you’re a First Time Buyers, come to us three or six months in advance of wanting to buy a property. Then you can make sure you’re prepared. You will know exactly how much you can borrow, how much that’s likely to cost and how much deposit you’ll need. You will also get guidance on the process: when to engage solicitors, how much solicitor fees are going to cost, survey fees etc.
We do get some clients that come to us having had an offer accepted on a property and have tried to do the mortgage themselves – and then discovered they can’t borrow the amount they need. This can be a very stressful situation.
I would always suggest getting the advice upfront so that you’re prepared and ready to go – rather than us trying to dig you out of a problem.
I’m based in north Leeds and we’ve got Ben, my father, is based in Ipswich covering Suffolk. The business has changed over the last two or three years but we are still able to offer face-to-face appointments.
We also do a lot of video conferencing and telephone appointments – so we are lucky enough to have clients from across the UK. So we can help you wherever you’re based.
I’ve lived in Leeds for about 12 years now. It’s obviously a decent sized city with plenty going on, whether it’s the shopping or the nightlife. We’ve got big firms in Leeds including the main accountancy firms, big solicitors and now, Channel Four.
We’re only half an hour away from the Yorkshire dales – so you can be in the city one minute and half an hour later you’re out in the lovely countryside. It’s a great place to live.
It’s been busy over the last two years, especially with First Time Buyers and the Stamp Duty holiday and the property market here has been vibrant. There are still some areas in north Leeds where property goes on the market and viewings are limited to the first 30 people because there’s still such strong demand.
There are relatively strong incomes in Leeds because of the big firms moving here. But house prices are still relatively affordable compared to some other areas of the country.
Plus, it’s a big student city with a couple of universities.
The business was set up in 1990 by my father Ben who still works in the business. I’d always had an interest in mortgages and property, so six years ago I had a change of career. I retrained and became qualified in mortgage and protection and I’ve been working in Leeds since 2016.
You can provide feedback or make a complaint to our network Sesame. Please contact them on the details below:
Write to: The Customer Relations Department, Sesame Limited, Fourth Floor, Jackson House, Sibson Road, Sale, M33 7RR.
Telephone: 0345 0456 800 (Mon-Fri 8.30 am to 5.30 pm)