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Welcome:
Mill-House Mortgage Solutions are impartial & give advice from the whole of market.
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 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:
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.
PLEASE NOTE OUR INFORMATION CENTRE IS CURRENTLY BEING UPDATED TO REFLECT RECENT MARKET CHANGES.
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