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Mortgage Brokers Manchester

Search Mortgage Solutions operate on a fee free basis. Our mortgage brokers (with our head office in Manchester alongside regional hubs across the UK) have access to the whole of the market of mortgage providers and only receive a commission from the mortgage provider once your mortgage is accepted. This can mean a saving for you of hundreds of pounds.

We are a  well established Manchester Mortgage broker and have made our name as a leading provider of expert mortgage advice throughout Greater Manchester. For over 20 years, we have helped our clients throughout the highs and the lows of the property market giving expert mortgage advice to suit all circumstances. We have developed excellent relationships with mortgage lenders, some of which do not appear on the high street, thus ensuring that all our clients are given the right mortgage advice possible.

Our commitment, enthusiasm, and success in providing mortgage advice from the ‘whole of the market’ for clients needing first time buyer advice, remortgage advice, home mover mortgage advice and specialist buy to let mortgage advice in the current difficult market has resulted in us becoming ‘first choice’ Manchester mortgage advisors to many estate agents, builders and developers to obtain the right mortgage deals for their clients

Search Mortgage Solutions Manchester

125 Deansgate, Manchester M3 2BY

5.0 27 reviews

Ed Pollard
a month ago
I have used David and his team at Search Mortgage Solutions on a number of occasions and every time, his availability, advice and knowledge have been absolutely invaluable in helping with our mortgages. This has included some tricky, urgent issues to help us secure the house we wanted. The only thing that will stop me using David is when he retires! Thank you David for all your help over the years.
Nick Ventolini
3 months ago
David regularly proposes the most convenient deal and solution in the best of your interest. Professional and trustworthy, highly recommended.
1st Wootton Beavers
5 months ago
David was really easy to deal with, I swear he works ever hour under the sun! great service and thank you for sorting out my minefield of a mortgage (well, it felt like that to me, but you made it simple!) Will be using you next time i buy a house for sure :)

About Search Mortgage Solutions the Fee-Free Mortgage Brokers

Search Mortgage Solutions operate on a fee free basis. Yes, that’s right. This may leave you asking ‘is there a catch?’ Quite simply, no, there isn’t one. Our mortgage brokers (with our head office in Manchester alongside regional hubs across the UK) have access to the whole of the market of mortgage providers and only receive a commission from the mortgage provider once your mortgage is accepted. This can mean a saving for you of hundreds of pounds. Whether you’re a first-time buyer, moving home, a buy to let landlord or are looking to remortgage we aim to make the process simple, fast and hassle free. We understand that busy working lives can make it difficult to contact us during regular office hours. That’s why our mortgage brokers are available for fee free advice over the phone from 8am until 10pm, 7 days per week. We can often offer you a decision in principle on your mortgage application within minutes. Our specialist team can also help you arrange home insurance to protect your investment. Our knowledge of the whole of the market means that we often have access to life and home insurance products that you may not be able to find at high street or online outlets. If you’re looking for Mortgage Brokers Manchester or it out lying areas, give our advisors a call on 0800 756 7794 and we’ll be happy to offer you mortgage help and advice.

The FCA do not regulate buy to let mortgages.

Fee Free Mortgage Advice Manchester

Are you looking to buy your first home and take your first steps onto the property ladder? Maybe you’re already a home owner and are looking to move up and buy something a little bigger which is perfect for starting a family in? Whatever your situation, if you’re looking to secure a mortgage, Search Mortgage Solutions, Manchester’s leading no-fee mortgage brokers, are here to help. On the other hand, perhaps you’re looking to remortgage your home and are looking for expert advice on the most suitable deals and the right way to proceed. Whatever your needs, if you’re looking for a mortgage, we’re here to help. Unlike many mortgage brokers, we will never charge a fee for our services. We believe that everyone should be able to receive expert advice and guidance and that, whatever your position, your deposit shouldn’t be compromised.

We strongly advise you not to try to arrange your mortgage solely on the internet unless you are well skilled in this particular area. It is a complicated business and it will always pay you to consult and meet with a professional mortgage specialist. Unlike banks and building societies, here at Search Mortgage Solutions, we search the whole of the market on your behalf to ensure that you get the most suitable mortgage to fit your specific needs according to your personal circumstances. We welcome you to give us a call today to discuss your needs and requirements and let one of our expert Manchester mortgage brokers find you the right deal.

Mortgage Advice Manchester

Search Mortgage Solutions and its Nationwide based advisors of mortgages are leading the way as a dynamic, innovative and forward thinking UK mortgage brokers, giving expert mortgage advice, equity release advice and arranging mortgages for customers in a hassle free, open and honest manner. We have over 20 years experience and we are fully aware of what is needed to meet the high expectations of our customers when searching for Mortgages. Our aim is to deliver a personal service to each and every client by offering some of the most suitable mortgages for our customers.

We charge no fees for our mortgage service and can help finding and arranging suitable mortgages for our clients.

We know that making applications for mortgages after taking mortgage advice is a major event and we aim to make the whole experience as stress-free and enjoyable for you as possible. Our aim is to provide a highly personal experience throughout the whole process. In addition, we are also pleased to offer highly competitive rates on life assurance and mortgage protection plans tailored to your individual needs and requirements. Please do not hesitate to contact one of our mortgage advisors today for an informal chat. Alternatively fill in our call back form to allow us to discuss our mortgage broker services at a time convenient to yourself, find out what Mortgages could be available for you.

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Mortgage Frequently Asked Questions

We at Search Mortgage Solutions as a whole of market fee free broker can advise if you wish to apply for a new mortgage. To obtain a mortgage we have listed the key points below. We are on hand anytime to explain further and expand on each step if you have any questions.

  1. Step 1 – Have a deposit. This can either be your own savings or a gift from a family member. Some lenders may be happy with a non-family member gifting the deposit. Prior to covid, a minimum of 5% was needed. However, at the moment a larger deposit may be needed ideally between 10 to 15%. We will keep our website updated as soon as lower deposit deals become available.
  2. Step 2 – Speak to a broker to see how much you can borrow. This will be based on your income and spending commitments. We can establish a budget and advise on how much the new mortgage would cost monthly to see if this meets your expectations.
  3. Step 3 – See if you are accepted by a lender by obtaining a mortgage in principle. A mortgage in principle Mip/Aip will confirm if we can obtain the desired loan amount you need to purchase your new home and if you are accepted by a lender. Ideally, before applying for your mortgage in principle, you should be aware of your credit profiling. This will ensure that we process with a lender who may be more accommodating if you have had any credit issues in the past.
  4. Step 4 – Once you have an offer accepted, you will need to apply for the mortgage. This will be done by discussions with one of our advisors to review your circumstances and affordability. Once we are sure you can afford the amount you wish to borrow, we will recommend a mortgage based on your situation and circumstances.
  5. Step 5 – An application will be fully submitted to the relevant lender and the application will be fully underwritten by the lender. It is important that you respond to any requests we send you so that we can respond back and obtain a mortgage offer from the lender. Once the mortgage offer is issued it will be posted to you and your solicitor ready for you to complete on your new house purchase.

A mortgage is a loan taken out so that you can purchase a new property. The loan is ‘secured’ against your home until you have fully cleared the mortgage/loan amount borrowed. If you can’t keep up your repayments the lender can repossess your home and sell it so they get their money back.

A mortgage broker will help you by guiding you through the daunting process of deciding which lender and type of mortgage is best for your circumstances. A mortgage broker will help you to understand the mortgage process and will get you the best deal to suit your requirements. This is achieved by providing you with advice and recommending the mortgages most suitable for you.

Mortgage brokers are regulated by the Financial Conduct Authority and need to achieve specific qualifications to be a broker.

When you have decided on a mortgage broker, they will gather the relevant information and paperwork needed for the mortgage application. The broker will then submit the application to the lender and liaise with both parties to ensure that everything runs smoothly until the lender offers the mortgage.

There are several factors that control how long it takes to get a mortgage. Below are the stages involved in the application process.

The Process:-

Mortgage in principle – Mortgage certificate.

The first part of the mortgage process is to get a mortgage in principle. This is a statement from a lender confirming that they can lend you a certain amount of money to purchase a home. This will be subject to final underwriting checks.

This is a really quick process if you have all the documents ready i.e passport, driving licence, 3 months bank statements, and 3-6 months of payslips. A lender will ask you for some basic information such as your income and current financial status. They will then check your credit history so that they can verify if you have the required mortgage. This is not a guarantee that a lender will definitely agree to a mortgage in the future but it is useful to have to show to estate agents to demonstrate that you are serious about buying.

The Mortgage Application

 

The next step in arranging the mortgage is the application. Your mortgage broker will complete your mortgage application and submit on your behalf. It is not a lengthy process, it should only take a few hours at the most, as long as you have your finances in order and the necessary documents and information at hand.

To finalise the amount you are able to borrow lenders will need evidence of the following:-

  • Details of the property you have offered on, as well as information on the seller’s estate agent and proof of your deposit.
  • Valid ID, such as a passport, to prove your identity.
  • Proof of your current address, such as a utility bill.
  • Three months bank statements, which can be used to show what your current outgoings are, including the likes of other credit commitments, childcare, utilities, leisure time, holidays, money to savings, pension contributions, etc.
  • Up to six months of payslips to provide proof of your income, including any bonuses or overtime.
  • If you are self-employed, your accounts along with a few years of tax returns will be required to determine what monthly payments you can afford.
  • Once submitted to the lender, they will fully assess and underwrite the case. Once the case is underwritten it will be offered subject to the valuation of the property that you are buying. This part of the process in normal circumstances can take up to 14 days.

Calculating how much you can borrow to buy a home will be based on your income/incomes. If you wish to apply for a mortgage, use our borrowing calculator on the website as this will give you a rough idea of how much a lender might offer you. This is based on how much you earn and whether you’re buying with anyone else. Mortgage lenders will decide how much you can borrow by basing income multipliers on your salary/salaries. Banks and building societies will offer between three and four-and-a-half times the annual income of you and anyone you are buying with. This means if you are buying on a single applicant basis and earn £30,000 a year, you could be offered anything between £90,000 and £135,000. There are exceptions to this however, especially if you work in a certain profession and then income multipliers may be higher. Other factors will impact how much you can borrow as well. Lenders will want to know your monthly outgoings and how you spend your money to complete an affordability assessment. Typically they will want to know about loan repayments, student loans, credit card balances, regular bills (e.g. gas and electricity), transport costs, grocery costs, spending on leisure activities. Recent bank statements and payslips may be needed to support your application.

When you complete on a new mortgage, you will then pay back the amount that you have borrowed and the interest that is being charged. You will pay this back over the period that you have borrowed the money for, typically 25 – 35 years.

A mortgage is secured against your property that you have purchased. It is secured against the property until you have paid it off completely.

A mortgage in principle MIP/ agreement in principle AIP or mortgage promise will be valid for between 60 to 90 days from initial application. This is an initial estimate from a lender stating what you may be able to borrow subject to underwriting.

If the certificate expires before you need it you can always reapply. However, be mindful that too many searches could damage your credit score.

A mortgage offer is a formal agreement between you and the lender once extensive underwriting checks have been completed. It is an official confirmation from a lender that they have agreed to lend you the amount you needed to purchase your new property.

Depending on the lender, a mortgage offer may last between 3 and 6 months.

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Your home may be repossessed if you do not keep up repayments on your mortgage.