buy to let mortgages
About Mortgages Direct
Information on this site is for information purposes only. It is not intended as investment advice
People are at the heart of our business
Our clients come back to us because they can trust us to find the best mortgage deal for their situation.
Unlike a bank or building society we are not tied to any one lender or insurance company.
We offer objective, impartial advice.
Please note we are currently unable to provide mortgages for expatriates – people who live and work abroad
About Mortgages Direct
Mortgages Direct are a Mortgage Broker; we arrange mortgages secured against UK property
We are regulated by the Financial Conduct Authority (FCA). Our registration number is 303319. The FCA sets minimum standards of good lending and advisory practice to be followed by all lenders and mortgage intermediaries. Check the FCA register here
This is a small business. Small means you will always deal with the same person. It means we can deal with your enquiry quickly and efficiently
Providing your mortgage is at least £100k, we do not charge you any Broker fees!
Mortgages Direct are committed to the principles of “treating customers fairly”. This initiative, introduced by the FCA, aims to improve the quality of information provided to clients at all stages of the mortgage application process.
We do not charge a fee if your mortgage is at least £100k
If your mortgage is less than £100k then we will charge a fee of professional fee of £199.
The fee is not refundable unless we are unable to recommend a mortgage
How can we help?
We offer a comprehensive range of mortgages from across the market.
Mortgages can be arranged for the purchase or remortgage of residential or buy to let property
We will provide you with information relevant to your mortgage needs. Full Illustrations will be provided in all cases.
Suitable insurance can be arranged
We do not have access to all lenders. Please see our Terms of Business letter for a list of the lenders that we currently deal with
We do not offer the following mortgages:
• Mortgages where the lender restricts access. This includes deals that are only available by going direct to a lender
• Second charge Loans
• Islamic Mortgages
• Equity release for retired applicants
The Application Process
We can never guarantee that any mortgage application will be successful. You should not enter into any contractual arrangements or agreements until you have received your mortgage offer and your Solicitor has confirmed it is ok to do so
Our preferred means of communication is telephone and email.
We will be completing a detailed financial review to enable appropriate advice to be given on your mortgage and other related insurance products. Once we have made our recommendations to you, we will confirm our advice in writing. You should keep this as it will be an important record of our discussions. Details of the loan will also be confirmed in your lender’s formal offer.
Prospective lenders will assess your application against strict lending criteria. It is important that you are open and forthcoming about your situation so that we can avoid any misunderstandings.
All lenders will complete an affordability and credit assessment. Please ensure we are aware of any adverse credit or substantial commitments that may affect your application
You will need to prove your identity and address
We provide illustrations using computer software provided by third party organisations. Occasionally, errors and omissions will occur. The actual terms and conditions of your mortgage will be shown on the lender’s mortgage offer document.
Where a lender’s fee (for example valuation fee) is requested with your application, please be aware that the fee may not be refundable should your application not proceed to completion.
Any mortgage rates or terms quoted will not be “locked in” until your application has been received by the lender. Lenders can change rates without any notice.
Our firm may receive fees from lenders with whom we place mortgages. We do not receive a fee if your mortgage application fails. Our firm may also receive a fee from insurance companies or solicitors if you choose to arrange insurance or conveyancing through us.
The mortgage lender will require a property survey for mortgage purposes. It is important to understand that this survey is for the lenders benefit alone and is to establish whether the property is suitable security for a mortgage
We recommend that you arrange an independent property survey in all cases to satisfy yourself as to the condition of the property.
A mortgage is probably the largest financial commitment you are likely to make. Now is a good time to consider your insurance requirements
You will be responsible for repaying your mortgage. You should consider what will you do if your income stops. How will you keep up your mortgage payments?
Please ask us about the various insurances that are available to you
You do not have to take out any insurance through us or the lender
No insurance will be automatically arranged. If you require cover, you must make this clear to your adviser
Limits of Our Advice
We will only consider your mortgage and insurance requirements and their affordability for you
We will NOT consider the property type or location or whether buying a property is suitable for your situation
A mortgage is a long-term contract. If you are aware of any future changes – for example you intend to change jobs or move abroad or you are planning some major home improvements then let your advisor know as these facts may have consequences
We may ascertain that a mortgage is affordable now, but this may change if your situation changes, for example due to redundancy or illness etc. Insurance may provide some protection against unforeseen circumstances.
In ALL cases we recommend that you maintain savings of at least 3 – 6 month’s income to help you deal with unforeseen situations.
A mortgage is a long-term financial commitment. The commitment will remain until you sell the property and clear your mortgage.
You will need to satisfy yourself as to the property condition. Whether the property is in an area liable to flood or prone to subsidence
You will need to consider the property type and location and how suitable the property will be for your situation. Does it need to be close to Schools / Work / shops etc
You should make a check list of your requirements – some things will be more important than others
You should take responsibility for the decision to buy a property
While house prices have risen in the past, there is no guarantee that they will continue to do so in the future. Please bear in mind that house prices can go down as well as up
You should review your mortgage annually and certainly when your fix or discounted rate draws to a close. You should allow at least 2 months before your fix or discount expires. We will be happy to help with a review of your mortgage at this stage. Please bear in mind that it is your responsibility to review your mortgage
A mortgage is likely to be regulated if it is secured against your home and it was taken out after 31st October 2004. If your mortgage is regulated we will provide you with the following documents:
• An Initial Disclosure Document (Key facts about us). This document provides you with key information about us.
• A Key Facts Illustration (KFI). This document presents you with key information about a mortgage product. The information is presented in a standard format to enable you to compare schemes.
• Letter confirming why a particular product was recommended
Please be aware that most ‘buy to let’ mortgages and other ‘business’ mortgages are not regulated by the FCA. You will not have the same degree of protection for these products.
We will treat all your personal information as private and confidential (even when you are no longer a customer) except where we are permitted by law or where the disclosure is made at your request or with your consent in relation to arranging your mortgage.
As part of FCA’s duties we may be asked to provide them with access to our customer records in order that they may carry out an audit of our activities. The FCA’s ability to inspect customer records promotes best practice in our industry and ensures that you continue to receive the best possible service from us. If we disclose your personal information to the FCA then they will only use it for the purpose of compliance and not for any other reason.
Our aim is to provide you with a first class professional and confidential service – should a complaint arise, in the first instance you should contact us at the above address.