Are you looking for the best deals to help you settle repayments on your mortgage? Online Mortgage Advisor can help you.
The Online Mortgage Advisor (OMA) is a free mortgage broker matching tool that matches customers with particular mortgage brokers depending on their needs.
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You may be first-time buyers or looking to change refinance your home but no matter what the circumstances, Online Mortgage Advisor will be ready to guide you. Find out more about their services in this Online Mortgage Advisor Review.
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Online Mortgage Advisor Overview
Online Mortgage Advisor began in the aftermath of the credit crunch, which some may perceive to be the worst reasonable period. The year was 2013, and mortgage lenders were having a hard time with strict qualifying standards and a lot of disinformation until Online Mortgage Advisor appeared on the scene.
Online Mortgage Advisor was founded by mortgage expert Pete Mugleston and marketing guru David Bird. It has emerged as a bright spot in an otherwise bleak industry. They think that no one should be harmed by incorrect mortgage advice. Therefore, they have made it their mission to make sure that a mortgage never stands in the way of their clients’ housing dreams.
The Online Mortgage Advisor website is a treasure trove of information about mortgages and associated products, ranging from bridging loans to secured loans, and they also contribute to the mortgage industry’s improvement through their own academy and broker training programs.
Services Offered By Online Mortgage Advisor
If you are looking for online mortgage brokers who can help you find the best mortgage deal, Online Mortgage Advisor may have the service you are looking for.
Bad Credit
A bad credit mortgage is for borrowers who have terrible credit, a low credit rating, or a poor credit score. Bad credit applicants can get loans from specialised lenders, though the rates and payments may be higher than for customers with good credit. It may be feasible to obtain a competitive bargain if you have sufficient income or a substantial deposit.
Specialists that provide specialist financial products like this are more flexible in their lending, and choices are made based on the age, severity, and source of the credit issue at hand, as well as the likelihood of it recurring. The trick is to choose the right mortgage lender, one that specialises in people with your type of credit problem, fully understands it, and is best positioned to lend in particular situations. Approaching a negative credit mortgage broker might help you boost your chances since they can locate you with the greatest rates and mortgage providers to meet your circumstances.
Self-Employed
A self-employed mortgage is a house loan for anyone who works for themselves, whether it’s freelancing, contract work, owning a business, or any other type of self-employment.
They are not dissimilar to traditional mortgages but keep in mind that certain lenders specialise in self-employed borrowers while others don’t.
The way income is analysed throughout the application process for self-employed mortgages is different from other forms of residential property loans. Most lenders will restrict their lending based on your typical earnings over the past two or three years rather than utilising a straight income multiple.
Using a whole-of-market broker is highly suggested since some mortgage lenders are more liberal and flexible towards self-employed individuals. A broker may match you with the lender who is best positioned to give the best prices.
Remortgages
You can remortgage any home you own, regardless of whether you have a present mortgage or own it completely. When you remortgage, you leave your current mortgage and take out a new one. You can accomplish this with your current lender or switch to a new one.
There are a number of reasons why individuals want to refinance their homes. Remortgaging can be used for a variety of reasons, whether you want to reduce your costs by switching to a more competitive rate or need to raise some extra cash.
Buy to Let
A buy-to-let mortgage is a form of house loan used to purchase property with the intention of renting it out for a profit to residential renters. In the United Kingdom, the majority of buy-to-let mortgages are interest-only, with the landlord paying the monthly interest out of the rental revenue.
Houses, flats, and everything in between is all available as buy-to-let properties. Renting out a house without a BTL mortgage is typically against your lender’s guidelines unless you own it entirely.
Aside from the fact that the property’s owner is not permitted to live there permanently, the key distinction between a buy-to-let and a residential mortgage is how affordability is determined. With BTL, it’s all about the investment’s strength, which lenders determine based on rental potential. The projected rental income must be sufficient to cover the mortgage payments, which must be calculated using current and future interest rates.
In the meanwhile, a home mortgage’s affordability is determined by the customer’s personal income. While some BTL lenders consider personal income in their affordability calculations, the potential rental income is usually the deciding factor. Buy-to-let mortgages may have higher interest rates and deposit requirements.
Interest-Only Mortgage
An interest-only mortgage is a loan in which the borrower is solely responsible for paying the interest each month. Capital repayments are usually optional, but the debt is usually only repaid after the term has ended through a pre-arranged payment vehicle.
When you have an interest-only mortgage, you borrow money to buy a house but simply pay the interest to your lender each month. You do not pay any of the capital you owe until the conclusion of the mortgage term. Interest-only mortgages can be enticing since the monthly payments are significantly lower than “traditional” repayment mortgages, making them look more accessible to purchasers.
This, however, can be deceiving; because you’re not paying back anything you borrow, you have to pay back the entire amount owed at the end of the mortgage term. Furthermore, you must offer strong proof to the lender that you can make these payments.
Mortgage Declined
Online Mortgage Advisor wants to reassure you that mortgage rejections occur often for a number of reasons and that backup solutions are frequently available to help ambitious homeowners retake control. Almost half of the people they have helped get on the housing ladder came to them after being turned down for a mortgage and anticipating the worst. It turns out that the first time they approached a mortgage lender or broker, they approached the wrong one.
Mortgage Brokers
One of the key advantages of using a broker to arrange your mortgage is that they know how to swiftly scan the whole market and present you with a variety of mortgage options. This might provide you with access to bargains that are only available through a broker and save you time.
If you go directly to a bank or building society, you will be limited to products offered by that institution. A mortgage broker will scour the whole market for the greatest price for your specific situation.
A broker can also protect you from lenders who have hidden payment terms in their mortgage contracts that are difficult to understand.
Working with the appropriate mortgage broker may save you time and money while also ensuring that you get the best deal possible.
Other Mortgage Services
Online Mortgage Advisor can also offer advice and assistance with the following:
- Mortgage Applications
- Mortgage Repayments
- Mortgage Affordability
- Equity Release
- Discussing Property Types
Online Mortgage Advisor Contact Details
Get in touch with Online Mortgage Advisor to find the online mortgage broker who can work with you. Use any of the following information to learn more.
Address: Online Mortgage Advisor, Bezant House, Bradgate Park View, Chellaston, Derby, United Kingdom, DE73 5UH
Telephone Number: 0808 189 2301
Website: www.onlinemortgageadvisor.co.uk
Email: [email protected]
Facebook: www.facebook.com/OnlineMortgageAdvisor/
Twitter: https://twitter.com/oma_mortgages
LinkedIn: https://www.linkedin.com/company/online-mortgage-advisor/
Registration Number: 08662127
Financial Conduct Authority Number: 697688.
Online Mortgage Advisor Reviews
Online Morgage Advisor works with certified online mortgage brokers who are qualified advisors. Find out what clients have to say about their services in the following section.
Lorna has been amazing. She’s very patiently guided us through the minefield of mortgages and shown herself to be a real expert when coming up with options for our multiple buy requirement. Can’t recommend her highly enough!!! – Ryan
Excellent, very professional & explains every queries in detail without losing patience. He gets us all available options and explains everything. – Saligrama
I found the service efficient, helpful and honest. My mortgage advisor was courteous at all times and made sure all my questions were answered before proceeding.
Chris has been wonderful! from the first engagement with Rosetta to the follow-up work with Sammi, everyone has been incredible! Filled me with confidence to get to this position! – Samuel
Professional staff, especially Steve,who was dedicated all his time and energy to come with the best solution and very fast.Very satisfied about the service. – Silvia
I am super pleased with the support I received. Communication was prompt, and George Wilcocks answered all my questions and offered the best advice. Thank you for making the process easier:) – Maria Constantin
Summary
In this Online Mortgage Advisor Review, we took into the services they offer. As a mortgage advisor company under the Financial Services Register, you are assured that a human mortgage adviser will be matched with you. Your mortgage adviser will assess your current situation and guide through the process of availing for the mortgage that best meets your circumstances.
Be it a bad credit report or other debts you have to pay for first, Online Mortgage Advisor will be able to use their knowledge of the entire market to recommend mortgage products for you. All in all, Online Mortgage Advisors may be the mortgage experts you have been looking for.
Full List Of Mortgage Lead Generation Companies
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