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Welcome:
Mill-House Mortgage Solutions are impartial & give advice from the whole of market.
Our mortgage information centre has been set up to enable those who wish to gain a better understanding of the market place themselves, the means to do so.
From information on the mortgage process itself to advice on the marketplace in general...we've got lots of helpful tools designed to enable you to make an informed decision.
We offer our clients advice in the following areas;
- Mortgages : Prime (Good credit history) - Sub-Prime (Poor/No Credit History) - Self Certified - Buy to Let - Right to Buy - Small Commercial
- Income Protection : Accident - Sickness - Unemployment - Critical Illness
- General Insurance : Home Buildings & Contents Insurance - Landlords Insurance - Pet Insurance
- Life Assurance : Level - Decreasing - Term - Premium
At Mill-House Mortgage Solutions, we have a unique approach to Broker Fees on ALL the mortgages we arrange. Even if your circumstances are complex.
You can choose from one of the following options with regards the payment of a fee for the advice you receive.
Either
Pay NO FEE for the advice you receive.
With this option Mill-House Mortgage Solutions retain the commission from the lender to pay for our services.
Or
Pay a £1500 fee for the advice you receive.
With this option Mill-House Mortgage Solutions pass back the commission we make (after our network fees have been deducted) to you*
* Subject to a maximum of £2500
We charge NO BROKER FEE for ANY associated Insurance or Protection product taken in conjunction with your Mortgage.
Therefore, we will be offering ALL our customers a potentially cheaper option when using us.
You can continue to use our services whenever you want to change your mortgage without having to pay for our services unless you choose to do so.
What's the Catch?
Using any of our services puts you under NO OBLIGATION to us.
If you just wish to use our information centre, there is absolutely NO OBLIGATION to place your mortgage through Mill-House Mortgage Solutions.
If however you do wish to apply through us we will help you through every stage of the mortgage process from application to completion. Enabling you to concentrate on the more important aspects of moving home...like remembering to pack the kettle!
To speak to one of our Advisers about your own Mortgage OR anything in conjunction with it, please call now or click here and arrange for us to contact you!
About Us:
Mill-House Mortgage Solutions launched in January 2008.
We help people both understand the mortgage market place better, and provide a quality reliable service as a Mortgage & Insurance Broker.
We are a small family run business offering excellent service & relevant BEST advice.
At Mill-House Mortgage Solutions we are impartial & give advice from the whole of market.
Our Vision
At Mill-House our vision is to help ALL our customers find the right mortgage & protection deals for them, manage their future needs & offer true value for money throughout.
Our main focus is delivering excellent service whilst working with you over the forthcoming years to ensure you always get what you need from your Mortgage, at the right price.
We offer FREE annual Mortgage Checks, which are a great way of quickly making sure you've still got the best deal for you and everything's on track.
Our broker fees free OR commission cashback deals enhance the affordability of many mortgage propositions, especially in the sub-prime market, reducing the overall cost to people seeking mortgages and associated products.
This approach to our business generates the income from which we operate. Our profitability relies on generating sufficient volume of business to negate the need to collect a broker fee.
Most mortgage lenders and protection providers pay intermediaries commission for the business placed with them. Many mortgage intermediaries choose to charge an additional broker fee for the advice they provide. Here at Mill-House Mortgage Solutions we choose to rely solely on the commission paid to us by the providers we deal with, and intend to continue in doing so for as long as possible.
Based in Norwich, were primarily phone based.
The business is run by Tim Ede (Hello!) CeMAP : CeRGI : CSP
Tim previously worked as a Manager within an International Bank prior to setting up Mill-House Mortgage Solutions.
To speak to one of our Advisers about your own Mortgage OR anything in conjunction with it, please call now or click here and arrange for us to contact you!
Jargon Buster:
Welcome to the Mill-House Mortgage Solutions FREE Jargon Buster.
Please note all key words and definitions included in this web-site
adjustment date : the date on which the interest rate changes on a variable rate loan UK.
adverse credit/poor credit history : negative information on your credit file which may lead to lenders refusing to lend you money or imposing additional rates/restrictions.
advice : an opinion or recommendation offered as a guide to action, conduct.
annual percentage rate/APR : this is a percentile figure that expresses the entirety of charges that will be made upon a UK loan, including the interest rate and any other supplementary fees.
approved valuers : each lender will have approved valuers from which they will allow/use/trust mortgage valuations - these will differ from lender to lender.
arrangement fee : fee charged by lender to arrange the mortgage - usually only payable upon completion.
affordability : calculation used to determine if an applicant can afford their mortgage - usually includes bills + an allowance for other personal expenses.
balance outstanding : the amount of a loan that remains to be repaid at any particular point in time.
bank of england base rate (BofE) : the rate of interest set by the Bank of England that is followed by almost all lenders and will influence variable rate loans UK.
booking fee : fee charged by lender to book/reserve specific deal/rate - usually non-refundable.
broker fee : fee charged by many brokers to cover the cost of their services - usually in addition to commission passed by lenders.
buildings insurance : insurance to cover your property in the event of accident/fire/flood etc. restricted to structure, fixtures and fittings
business partnership : two businesses working in conjunction with each other for mutual benefit.
buy to let : buying a property with the intention of letting it out to tenants.
capital : the original sum of money borrowed, not inclusive of any interest that might be charged upon it.
CCJ's : county court judgements.
CeMAP : certificate in mortgage advice and practice - qualification for mortgages and associated products
CeRGI : certificate in regulated general insurance - qualification for general insurance products
change your mortgage : move house, increase borrowing, home improvements etc.
churning : term used to describe re-mortgaging regularly to obtain most competitive rate possible. This term is industry slang & is sometimes used to describe the practice of advising clients to cancel current insurance only to then set up new policies (which is NOT allowed under FSA Regulation)
commission : fee paid by lenders to brokers for arranging the application, typically a small % of the borrowing amount e.g. 0.30%
contents insurance : insurance to cover you personal possessions - various levels of cover apply.
company pension : regular monetary allowance provided by annuity purchased by contributions made during employment.
co-signer : someone who admits joint liability for a loan.
credit agencies : companies used by UK loan providers who provide individual assessments of loan applicants in the form of a credit report.
creditor : a business or organisation to which capital is owed, in other words, a lender.
CSP : certification as customer services professional
deal period : period of time within which you receive the benefit of a special deal/rate/offer.
default : following several missed payments your account can be classified as defaulted by the creditor.
early repayment charge (ERC) : charge made by lenders on many deals if redemption occurs within tie in period
endowment policies : an endowment policy is a life assurance contract designed to pay a lump sum after a specified term or on earlier death (some policies also include critical illness as condition of payout).
financial services authority (FSA) : governing body responsible for the regulation of UK financial system.
higher lending charge : charge made by lenders to offset risk created by possible failure of borrower to meet repayments. Some lenders may choose to use this money to buy an insurance policy that will indemnify them against the risk that they won't get their money back in the event of a repossession.
impartial : unbiased, unprejudiced, equitable.
information centre : mill-house mortgage solutions information resource
insurers : financial organisation providing and backing insurance products.
intestacy : following a death where the deceased had no will the laws of intestacy apply - these are rules concerning how the estate is shared between family/beneficiaries.
ISA's : individual savings account - tax free savings account can have savings and investment elements - subject to restrictions.
joint tenancy : this means you jointly own a property with another party and are both responsible for it & it's mortgage payments. Upon death the whole property would become owned by the surviving party.
late payments : failure to meet agreed payment by agreed date to any creditor in last 6 years.
lender : financial organisation proving funding for loans/mortgages.
loan to value : usually depicted as a percentage this represents the level of debt against the securities value e.g. loan 75,000 property value 100,000 loan to value 75%.
missed payments : failure to meet agreed payment to any creditor in last 6 years.
multiple (of income) : calculation used by mortgage lenders to assess how much to lend. Simple multiplication of income e.g. 3.5X25,000(annual income) = 87,500 maximum lend.
obligation : something by which a person is bound or obliged to do certain things, and which arises out of a sense of duty or results from custom, law, etc.
PEP's : tax free savings - precursor to ISA - no longer available to new customers
probate : the legal process of winding up the estate and includes liquidating assets if need be, repaying commitments, transferring ownership of property and proving a will.
profitability : long term yielding profit, remunerative.
possession order : mandatory re-housing by local government authority.
re-mortgaging : the process of changing your existing mortgage for a new one.
redemption/redeem : mortgage debt repaid in part or full.
repayment vehicle : savings or investment plan designed to enable you to repay any outstanding capital at the end of the mortgage term. Usually used for interest only mortgages.
security/collateral : property or other assets against which a loan is guaranteed.
self-certification : self-declaration of income received. The lender does not ask to see evidence to support your claimed earnings. This is suitable for people who are unable to prove their income - IE the newly self employed OR someone who earns lot's of commission.
sole traders : self employed individuals who carry sole responsibility for their business. Sole traders can have as many people as they like working for them but they carry the can if everything goes wrong. That's why bigger companies become Limited as their personal liability is reduced (or limited, hence the term).
simple partnerships : self employed individuals working in business partnership who jointly carry responsibility for their business. Simple partnerships can have as many people as they like working for them but carry the can if everything goes wrong.
standard variable rate (SVR) : lenders standard rate which customers pay once deal period has ended. Usually this tracks Bank of England base rate at level determined by lender. This rate is controlled by the lender.
state pension : regular monetary allowance provided by the state upon retirement.
tenancy in common : this means you jointly own a property with another party and are both responsible for it & it's mortgage payments. Upon death your proportion will form part of your estate and be dealt with in accordance to your will or intestacy in absence of a will.
tie in period : period of time within which redemption of your mortgage will incur an early repayment charge.
unit trusts : a unit trust is a form of collective investment constituted under a trust deed - it's an open ended investment
young professional : newly qualified professional with potential for large growth in income in forthcoming years - usually classified as doctors, dentists, solicitors, accountants, pharmacists
To speak to one of our Advisers about your own Mortgage OR anything in conjunction with it, please call now or click here and arrange for us to contact you!
How to Apply:
Like the sound of our deal? We don't blame you!
Step 1 :
Call now on 0845 508 3252 or fill in our arranging contact form & we'll call you!
Step 2 :
We'll go through a fact find with you to find out all relevant details & your personal preferences.
Step 3 :
We'll give your our final recommmendation as to which Mortgage available would suit your needs best.
Step 4 :
We'll go through an on-line application over the phone with you & post you all documents you need to sign along with a detailed breakdown of what the lender will need to process your application.
Step 5 :
Once we receive back what we need, we'll liase with all parties to ensure the smooth progression of your application.
We'll keep you updated by phone & e-mail throughout the process & remain on had to answer any questions or queries which you may have.
Future Developments
We are currently developing a system which will enable our customers to search for their own Mortgage, obtain a quote and input all their details on-line.
You will then be contacted by one of our Advisers to make a final recommendation.
Once submitted you will be able to monitor the progression of your application by logging into the secure area of our web-site.
In the meantime however, please contact us by phone, e-mail, post or by following the link below and arranging for us to contact you.
We can then discuss these or any other points you wish to query.
We aim to respond to all our enquiries within 24 hours of receipt. Within 1 hour wherever possible.
To speak to one of our Advisers about your own Mortgage OR anything in conjunction with it, please call now or click here and arrange for us to contact you!
Information Centre:
Welcome to Mill-House Mortgage Solutions Information Centre.
Our centre is designed to enable you to obtain a greater understanding of the mortgage marketplace & application process. We have lots of general information to help you choose the mortgage & protection products which will best suit your needs.
Available Services:
- FREE Information & Advice
- Useful On-line Tools
- FAQ's
We invite you to view/utilise these services FREE of charge...
Please navigate these subjects using the selection bar on the left-hand side of your screen.
To speak to one of our Advisers about your own Mortgage OR anything in conjunction with it, please call now or click here and arrange for us to contact you!
FREE Useful Online Tools:
Welcome to the Mill-House Mortgage Solutions FREE Useful Online Tools.
Unfortunately, we do not have on-line tools available at present. Sorry!!!
We are currently developing a system which will enable our customers to search for their own Mortgage, obtain a quote, check whether they can afford a Mortgage & compare multiple deals.
In the meantime however, please contact us by phone, e-mail, post or by following the link below and arranging for us to contact you. We can then discuss these or any other points you wish to query.
We aim to respond to all our enquiries within 24 hours of receipt. Within 1 hour wherever possible.
To speak to one of our Advisers about your own Mortgage OR anything in conjunction with it, please call now or click here and arrange for us to contact you!
Click here to download our FREE - Buy To Let EBook
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10 Steps to Buy-to-Let (BTL) Investment:
Dear Buy-to-let investors,
The fundamental key to profitable buy to let investment is to understand your market & research all your options before making a decision on how to invest. Any decision you make can potentially turn a money pit into a goldmine, and vice versa!
Choosing the right Buy-to-let mortgage is not an easy decision to make. However this is a decision hundreds of investors are making each and everyday.
Below is a step-by-step guide on investing in property:
Step 1
Check how much money you can borrow. After all theres no point looking for a property until you know how much you can borrow! Usually youll need a deposit on a Buy-to-let mortgage (15-20%).
Step 2
Decide which type of Mortgage and Repayment method will suit your needs best. Its important to consider how you think your life could change over the forthcoming years and ensure your selection is appropriate. You can always contact us if youd like some advice.
Step 3
START LOOKING FOR YOUR NEW INVESTMENT PROPERTY!!!
Its important to consider the property from a landlord's perspective. Is there a demand for rental property in the area? What rent would you get? Etc.
Step 4
Find out how much it will cost including all fees and additional costs.
Step 5
Find a solicitor you can trust, at a price you can afford.
Step 6
Make an offer to the sellers' estate agents or direct if appropriate. If they accept, advise your solicitor & mortgage broker (or lender).
Step 7
Keep in regular contact with your solicitor and broker (or lender) to ensure the continued progression of your case.
Step 8
Exchange contracts this means you sign the sale contract and are legally owners of your new property!
Step 9
Set a completion date!!! this date needs to be agreeable to all parties.
Step 10
Regularly review your mortgage to ensure it suits your on-going needs. If you use Mill-House Mortgage Solutions, we offer FREE annual mortgage checks to do this for you.
For more information and general advice for Buy to Let investors, please click here to read our e-book on the subject.
Topics covered:
Can you afford a Buy to Let Mortgage
The Buy to Let Marketplace
The Reasons to Invest in Property
How much money can I make?
Types of Mortgage available and related costs
Different ways of repaying your Mortgage
What's the catch?
Using any of our services puts you under NO OBLIGATION to us.
If you just wish to use our information centre, there is absolutely NO OBLIGATION to place your mortgage through Mill-House Mortgage Solutions.
If however you do wish to apply through us we will help you through every stage of the mortgage process from application to completion. Enabling you to concentrate on the more important aspects of moving home...like remembering to pack the kettle!
To speak to one of our Advisers about your own Mortgage OR anything in conjunction with it, please call now or click here and arrange for us to contact you!
Click here to download our FREE - First Time Buyer EBook
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10 Steps to Buying Your First Home:
Dear First Time Buyer,
You, the first time buyer, are about to undertake one of the first and biggest financial commitments you will ever make.
During your first time buyer process, you'll no doubt be exposed to a number of sources of information...friend's, family, your Bank or Mortgage Adviser...
...Whose advice do you trust? Who is offering you the best options? Who has the first time buyers interest at heart? Are you getting what you need?...
Choosing the right starter mortgage is not an easy decision to make. However these are the critical decisions thousands of first time buyers are making each and everyday.
Below is a step-by-step guide on buying your first home:
Step 1
Check how much money you can borrow. After all theres no point looking for a property until you know how much you can borrow!
Step 2
Decide which type of Mortgage and Repayment method will suit your needs best. Its important to consider how you think your life could change over the forthcoming years and ensure your selection is appropriate. You can always contact us if youd like some advice.
Step 3
START LOOKING FOR YOUR NEW HOME!!!
Step 4
Find out how much it will cost including all fees and additional costs and apply.
Step 5
Find a solicitor you can trust, at a price you can afford.
Step 6
Make an offer to the sellers' estate agents or direct if appropriate. If they accept, advise your solicitor & mortgage broker (or lender).
Step 7
Keep in regular contact with your solicitor and broker (or lender) to ensure the continued progression of your case.
Step 8
Exchange contracts this means you sign the sale contract and are legally owners of your new property!
Step 9
Set a completion date & MOVE IN!!! this date needs to be agreeable to all parties. Its advisable to take note of all meter readings to use when setting up new gas & electricity providers.
Step 10
Regularly review your mortgage to ensure it suits your on-going needs. If you use Mill-House Mortgage Solutions, we offer FREE annual mortgage checks to do this for you.
For more information and general advice for First Time Buyers, please click here to read our e-book on the subject.
Topics covered:
Can you afford a Mortgage
Types of Mortgage available and related costs
Different ways of repaying your Mortgage
What's the catch?
Using any of our services puts you under NO OBLIGATION to us.
If you just wish to use our information centre, there is absolutely NO OBLIGATION to place your mortgage through Mill-House Mortgage Solutions.
If however you do wish to apply through us we will help you through every stage of the mortgage process from application to completion. Enabling you to concentrate on the more important aspects of moving home...like remembering to pack the kettle!
To speak to one of our Advisers about your own Mortgage OR anything in conjunction with it, please call now or click here and arrange for us to contact you!
Click here to download our FREE - Right To Buy EBook
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10 Steps to Buying Your Council Property:
Dear Council Home Buyer,
As an existing Council Tenant, You may well qualify for the council Right to Buy scheme. The Right to Buy scheme allows council tenants to purchase their homes at a discounted price provided that they meet certain criteria.
To qualify for the Right to Buy you need to have been a public sector tenant for a minimum of two years (this scheme is explained in greater depth later on).
Choosing the right Right to Buy mortgage is not an easy decision to make. However these are the critical decisions thousands of Council Tenants are making each and everyday.
Below is a step-by-step guide on buying your Council Property:
Step 1
Check how much money you can borrow. After all theres no point looking into purchasing your home until you know how much you can borrow!
Step 2
Check how much discount youre entitled with your landlord.
Step 3
Decide which type of Mortgage and Repayment method will suit your needs best. Its important to consider how you think your life could change over the forthcoming years and ensure your selection is appropriate. You can always contact us if youd like some advice.
Step 4
Find out how much it will cost including all fees and additional costs and apply.
Step 5
Find a solicitor you can trust, at a price you can afford. Some landlords will insist on the use of a specific solicitor.
Step 6
Keep in regular contact with your solicitor and broker (or lender) to ensure the continued progression of your case.
Step 7
Exchange contracts & Complete this means you sign the sale contract and are legally owners of your new property!
Step 8
If youve borrowed more money than you needed to, your solicitor will forward you the additional money once completed.
Step 9
Regularly review your mortgage to ensure it suits your on-going needs. If you use Mill-House Mortgage Solutions, we offer FREE annual mortgage checks to do this for you.
For more information and general advice on buying your Council Property, please click here to read our e-book on the subject.
Topics covered:
Can you afford a Mortgage
How does the Right to Buy scheme work
Maximum discounts available under Right to Buy
The reasons to buy your Council Property.
Types of Mortgage available and related costs
Different ways of repaying your Mortgage
What's the catch?
Using any of our services puts you under NO OBLIGATION to us.
If you just wish to use our information centre, there is absolutely NO OBLIGATION to place your mortgage through Mill-House Mortgage Solutions.
If however you do wish to apply through us we will help you through every stage of the mortgage process from application to completion. Enabling you to concentrate on the more important aspects of moving home...like remembering to pack the kettle!
To speak to one of our Advisers about your own Mortgage OR anything in conjunction with it, please call now or click here and arrange for us to contact you!
Click here to download our FREE - Re-Mortgage EBook
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10 Steps to Re-Mortgaging:
Dear Re-Mortgage Customer,
You, the Re-Mortgage Customer, no doubt already have an understanding of the mortgage market place, deals available & what you want from a Re-mortgage.
During the Re-Mortgage process, you'll no doubt be exposed to a number of sources of information...your own experience, friend's, family, your Bank or Mortgage Adviser...
...Whose advice do you trust? Who is offering you the best options? Who has the your interests at heart? Are you getting what you need?...
Choosing the right Re-Mortgage is not an easy decision to make. As there are hundreds of deals available tailored to many different needs & requirements. However these are the decisions many clients with existing arrangements are making each & every day.
Below is a step-by-step guide on Re-Mortgaging your home:
Step 1
Check when your current tie in period ends. You may have to pay an early repayment charge to get out of your current deal early.
Step 2
Check how much money you currently owe & how much you need to borrow.
Step 3
Check the value of your home to ensure you have enough equity to borrow what you want. You can get a rough value on-line or from a local estate agent.
Step 4
Decide which type of Mortgage and Repayment method will suit your needs best. Its important to consider how you think your life could change over the forthcoming years and ensure your selection is appropriate. You can always contact us if youd like some advice.
Step 5
Find out how much it will cost including all fees and additional costs and apply.
Step 6
Find a solicitor you can trust, at a price you can afford.
Step 7
Keep in regular contact with your solicitor and broker (or lender) to ensure the continued progression of your case.
Step 8
Set a completion date this is usually when your current tie in period ends.
Step 9
If youve borrowed more money than you needed to, your solicitor will forward you the additional money once completed.
Step 10
Regularly review your mortgage to ensure it suits your on-going needs. If you use Mill-House Mortgage Solutions, we offer FREE annual mortgage checks to do this for you.
For more information and general advice for Re-Mortgage customers, please click here to read our e-book on the subject.
Topics covered:
Can you afford to Re-Mortgage
The Reasons to Re-Mortgage
Types of Mortgage available and related costs
True cost analysis
Different ways of repaying your Mortgage
What's the catch?
Using any of our services puts you under NO OBLIGATION to us.
If you just wish to use our information centre, there is absolutely NO OBLIGATION to place your mortgage through Mill-House Mortgage Solutions.
If however you do wish to apply through us we will help you through every stage of the mortgage process from application to completion. Enabling you to concentrate on the more important aspects of moving home...like remembering to pack the kettle!
To speak to one of our Advisers about your own Mortgage OR anything in conjunction with it, please call now or click here and arrange for us to contact you!
FREE Information & Advice:
Hello & Welcome to Mill-House Mortgage Solutions FREE Information & Advice Service.
Topics covered:
We have FREE information & advice on all of the following subjects...
- General Information & Advice for First Time Buyers
- General Information & Advice for Re-Mortgaging & Capital raising
- General Information & Advice for Buy-to-let investors
- Can I get a Mortgage with Adverse Credit?
- Can I buy my Council Property?
Please navigate these subjects using the selection bar on the left-hand side of your screen.
To speak to one of our Advisers about your own Mortgage OR anything in conjunction with it, please call now or click here and arrange for us to contact you!
FAQs:
Welcome to the Mill-House Mortgage Solutions FAQs.
Please note frequently asked questions and answers;
What's the catch?
Using any of our services puts you under NO OBLIGATION to us.
If you just wish to use our information centre, there is absolutely NO OBLIGATION to place your mortgage through Mill-House Mortgage Solutions.
If however you do wish to apply through us we will help you through every stage of the mortgage process from application to completion. Enabling you to concentrate on the more important aspects of moving home...like remembering to pack the kettle!
Why don't you charge a fee when other brokers do?
Most mortgage lenders and protection providers pay intermediaries commission for the business placed with them. Many mortgage intermediaries choose to charge an additional broker fee for the advice they provide. Here at Mill-House Mortgage Solutions we choose to rely solely on the commission paid to us by the providers we deal with, and intend to continue in doing so for as long as possible.
Why have 2 options - to pay a fee or not?
Although the majority of our customers opt for our "Broker Fee's Free" deal, we have the "Commission Cashback" deal to allow people whose mortgages would generate larger commissions the option to pay a fee and reclaim some of that commission.
How long does it usually take to complete a mortgage?
The speed of your mortgages progression is predominantly determined by the lender and solicitor. Their timescales will vary from company to company, however a general rule of thumb is:
Re-Mortgage : 4-6 Weeks
House Purchase : 10-12 Weeks
At Mill-House Mortgage Solutions we chase the lenders and solicitors for you to ensure the smooth progression of your application. We are also experts in providing the lenders what they need to progress swiftly with your application.
Do you do home visits?
Mill-House Mortgage Solutions are telephone based.
This way we can offer our deal to all UK residents, it also helps us trade without having to collect a broker fee to pay for our services.
We liase with our clients via...phone, post, e-mail, fax, txt message. Whichever suits you best.
Please remember all applications will require a telephone conversation
What makes your service different to others?
Because we are a small family run business, we can operate at a low cost, meaning we can offer our service whilst charging NO BROKER FEE.
We charge NO BROKER FEE for any associated Insurance product taken out with your Mortgage.
We keep in REGULAR CONTACT with your lender, solicitor and YOU.
All our Advisers are FULLY qualified to advise on Mortgages & related products.
We offer FREE ANNUAL MORTGAGE CHECKS to ensure your mortgage is on track & still suits your needs.
Tim Ede (Principle of Mill-House Mortgage Solutions) previously worked as a Manager within an International lender, hence we are well versed in how to deal with lenders for mutual benefit.
What Insurance products do you offer?
Home Insurance (Buildings, Contents or Both)
Life Assurance
Critical Illness Cover
Accident, Sickness & Unemployment Cover
Pet Insurance
What's the difference between Advised and Information Only services?
Mortgage Advisers can offer 2 types of service, Advised or Information only. With the first option they advise the customer which products suit there needs best. With the second option they provide the customer options from which they make their own decision.
The key difference is with the non advised service the customer takes sole responsibility for the decision made. Whereas with the Advised service the broker is responsible for ensuring the deal is the most appropriate for the client.
At Mill-House Mortgage Solutions we offer all our customers an Advised service.
Sometimes our customers have a product in mind when they contact us, in which case we're more than happy go through all your details & if that deal is the best, transact the mortgage on your behalf.
In all circumstances we will discuss with you what would suit your needs best & if there is a more competitive option available to you, advise you to take that one instead.
I'm Re-Mortgaging: How early do I need to apply?
You need to allow 4-6 weeks for you application to complete. If there is non-standard legal work required in relation to the land registry or property, it can add a further 2-3 weeks to the process. Hence it's best to begin making arrangements to Re-Mortgage 2-3months prior to the end of you deal period.
If you apply through Mill-House Mortgage Solutions we contact you prior to the end of you deal period to ensure you don't forget!
What qualifications do you have?
CeMAP - Certificate in Mortgage Advice and Practice
CeRGI - Certificate in Regulated General Insurance
CSP - Customer Services Professional
Why no pictures on your web-site?
When building our website we put our focus into providing lot's of FREE information and advice as well as remaining clear and simple throughout.
How do I know if I've got bad credit?
If you're unsure as to whether you have bad credit or not we recommend you should obtain a copy of your own report (for around 5.00) prior to making an application for a mortgage.
I've missed a couple of payments on un-secured debts : does that make me adverse?
Not necessarily. All lenders will take a different view on your circumstances.
To discuss your circumstances with a qualified professional, please contact us ASAP.
To speak to one of our Advisers about your own Mortgage OR anything in conjunction with it, please call now or click here and arrange for us to contact you!
Contact Us:
Our opening hours are 9:30AM-7:30PM Monday-Friday & 9:30AM-1:30PM Saturdays.
call us on : 0845 508 3252 (calls from UK landlines charged at local rates, mobile phone rates vary by cellular service provider)
fax us on : 0845 508 3253
e-mail us at : mill-house@hotmail.co.uk.
write to us at : 9 Leopard Court Norwich NR3 1NN
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Can I get a Mortgage with Adverse Credit?
When you apply for any mortgage, the lenders will asses many aspects of your personal situation so as to decide whether to grant the loan or not.
From their perspective one of the most important factors is your previous financial conduct. After all mortgages are usually for very large sums of money & they want to ensure you will repay the debt as agreed.
All Mortgage lenders have specific guidelines on how to view your financial background. They also each consider negative financial data in various different ways.
In the world today we hear a lot about credit, credit ratings, adverse credit etc. hence before we delve to deeply into how lenders view Adverse Credit it's important you understand what 'Adverse' credit is.
What is Adverse Credit?
Adverse Credit can be many things. Basically it's anything which could negatively effect your credit score...
- CCJ's
- Defaults
- Late Payments
- Missed Payments
- Failure to operate within agreed overdraft limits
- Failure to register on the electoral role
- Previous Bankruptcy
- Previous Involuntary Actions (IVA's)
- Incorrect details on your credit file
If you have limited or no financial background, due to never having obtained credit or loans before, although you may not be classed as Adverse, many lenders will limit the % of the property value on which they are willing to lend against (typically 75%).
Although many mortgage brokers & lenders offer similar products to both adverse applicants & those who cannot prove their income, just because you cannot prove your income it does not necessarily mean you will be classed as adverse. Instead you may wish to consider a Self-Certified Mortgage.
If you have obtained previous credit, however failed to maintain this & run into difficulty, each company will take a different view on your circumstances depending on their internal policies.
Most lenders will either classify you as 'light adverse', 'medium adverse' or 'heavy adverse' depending on the extent of your credit problems. The level of adverse, which the company classifies you as, will normally determine what interest rate they will charge. Understandably this usually increases with the more problems you have.
If you have a poor credit history, CCJ's, missed payments, defaults, or any of the above it need not mean you cannot find a Mortgage.
We recommend that if you have fears concerning your credit file, you should obtain a copy of your own report (for around 5.00) prior to making an application for a mortgage.
To discuss your options with a qualified Mortgage Adviser, please contact Mill-House Mortgage Solutions
Our opening hours are 9:30AM-7:30PM Monday-Friday & 9:30AM-1:30PM on Saturdays.
Please either;
call us on 07921 807656
or
e-mail us at : mill-house@hotmail.co.uk.
or
write to us at : 9 Leopard Court Norwich NR3 1NN
We aim to respond to all our enquiries within 24 hours of receipt. Within 1 hour wherever possible.
To speak to one of our Advisers about your own Mortgage OR anything in conjunction with it, please call now or click here and arrange for us to contact you!