Southampton boasts a diverse mix of property types ranging from modern apartments and mansions to period properties and contemporary flats, so finding an experienced mortgage adviser with local knowledge is vital for finding success in finding financing solutions.
Dean Hurst is an award-winning adviser on the Vouched For advice network. He offers home movers, first-time buyers, and investors comprehensive mortgage advice.
Affordability
Mortgages are among the most significant financial commitments most people undertake, so it is crucial to seek expert independent mortgage advice from a Southampton broker. A broker will have access to thousands of loans (many not available on the High Street), so they can find you an offer tailored specifically to your circumstances and income and expenses analysis to establish how much can be afforded, along with helping secure competitive prices on insurances that may be needed once approved for a mortgage.
Mortgage advisers can advise you on the most efficient way to structure your debts to maximize borrowing potential. They may suggest using a repayment mortgage over interest-only. They may also suggest choosing from fixed-rate, variable-rate, or tracker mortgage options, depending on what best meets your needs.
Are You A First-Time Buyer In Southampton? Expert advice is critical if you’re a first-time buyer in Southampton. Several schemes designed to assist first-time buyers exist, such as the Government’s Help to Buy scheme, which enables borrowers to borrow up to 5% of the property value. New-build developments and period properties of various sizes exist across Southampton and its environs, which they should consider when searching for their first home.
Southampton is a bustling city offering attractions and facilities suitable for people of all ages. Known for its maritime links and cruise ship capital status, Southampton also boasts vibrant music scenes and world-class universities, giving this vibrant destination much more depth than it first appears.
Southampton offers something for everyone, making it the ideal city to live and work. Its rich heritage of culture, business, and innovation continues today. There are numerous investment opportunities here, from purchasing an initial flat to refinancing an existing property.
Lenders
Mortgage markets can be intimidating and complex, but having the right advisor will make the process less daunting and more manageable. Artisan Mortgage Company in Southampton is equipped to help home buyers navigate this market quickly and offer competitive loan programs and rates, which are perfect for achieving your home ownership goals. Artisan provides multiple home loan programs in East Hampton Bays, Sag Harbor, Montauk, and Southampton mortgage advice for conforming or jumbo loan needs that meet financial goals efficiently and affordably.
Southampton has long been revered as a seaport and has a close relationship to it. It boasts world-class museums dedicated to art, aviation, Tudor life, and Britain’s maritime past. Today, the city draws in an increasingly diverse population thanks to numerous attractive residential areas ranging from Victorian villas to homely 1930s/40s estates and sleek modern developments near Solent.
Southampton is a thriving city that draws millions of visitors annually, making it an excellent location to live and invest in property. Home to iconic heritage buildings like the Civic Centre and Theatre, as well as modern shopping malls and luxurious apartments, Southampton provides plenty of reasons for people to invest or reside here.
Mortgages represent one of the most significant financial commitments you’ll make, so finding a lender with affordable mortgage rates and fees is essential. When searching for Southampton mortgage lenders, consider factors such as reputation and customer service before selecting one. Also, read up on reviews from previous homeowners regarding their experiences!
If you’re buying a new home, use our mortgage calculator to estimate monthly payments and compare loan options. Shorter-term loans allow for faster payback – once you find one that suits your needs, contact a mortgage broker in Southampton to start applying!
Help to Buy
Accessing property can be a challenge for first-time buyers, and various government programs exist to aid this endeavor. However, these schemes come with risks, so it is crucial that first-time buyers understand these before making their decisions.
The government helps buyers of newly built homes by loaning up to 20% (or 40% in London) of the purchase price. This reduces the amount borrowers must borrow through conventional mortgage providers and offers more competitive rates. This scheme is especially advantageous when purchasing properties in areas that would not otherwise afford 95% mortgage loans.
Resolution Foundation policy analyst Ben Sargent points out that many users of the scheme so far are not first-time buyers and, on average, earn more than the national average income level. This group could experience double financial hardship as their home value rises and having to pay interest on their government loan.
Note that the scheme only applies to new builds constructed by developers participating, which could limit your options if you need a property that suits all your requirements.
Various alternatives to Help to Buy are available, such as shared ownership and mortgage guarantee schemes and Lifetime ISAs, which are limited to those aged 18-39. Before deciding which scheme would best suit your circumstances, it’s essential to consult with an expert mortgage advisor.
Southampton is an engaging city that attracts millions of visitors each year due to its position as one of the UK’s major ports and Europe’s cruise ship capital. Additionally, Southampton is an emerging center of culture, music, and business, home to some of the world’s largest corporations, such as IBM. Dating back to Roman times, Southampton continues to thrive today – our local expert mortgage advisors can assist with finding you an incredible mortgage deal on a home.
Remortgaging
Remortgaging your property involves replacing an existing mortgage with better terms, which may reduce monthly payments, free up equity for home improvements or debt consolidation purposes, and provide more competitive interest rates on your mortgage. Remortgaging could be beneficial in several ways.
One of the primary motivations for refinancing is when your fixed-rate period ends, usually two or three years after you take out a mortgage loan. Once this happens, your interest rate could revert to your lender’s standard variable interest rate (SVR) or discounted version, which could be much higher than what you’re currently paying; remortgaging can help to minimize or prevent this from happening altogether.
Remortgaging may also be beneficial when you want to add income to your mortgage. Still, your current deal doesn’t allow this, or upon becoming full-time employment and wanting to pay off debt faster. A remortgage could also release funds to pay for expenses like a new car or renovations – there are various methods this could use, but be sure to speak to an expert first!
Buy-to-let mortgage advisers in Southampton can provide professional guidance and advice regarding the ideal option for your specific requirements. They will assess your current financial status, advise whether remortgaging is right for you, assist with applying, filling out paperwork, carrying out legal work, reviewing the formal offer approval process, and finally closing on the mortgage deal.
They provide whole-of-market advice to clients, from first-time buyers and home movers to investors and commercial entities. Their agents can advise on the most suitable products and rates available to them and guide you through every stage of the buying process from start to finish. They can also help you secure discounts or incentives you might qualify for, such as cashback and free valuations, which could save you money when purchasing your first property.
