The Money Column: Mortgages

By Stuart d’Ivry, Managing Director of Pure Wealth Management

This month I thought I would cover the topic of mortgages.  Now if ever there was a hot potato over the last few months, then this is one of those areas.

Mortgage interest rates have risen substantially over the last 12 months.  This has resulted in homeowners seeing dramatic increases to the cost of borrowing when they reach the end of their preferential rate with their mortgage company.  Many are seeing interest rates increase by up to 3 times drastically affecting what is likely to be their biggest monthly commitment.  This along with the increase in general cost of living is causing homeowners further concern in deciding what is best to do often causing stress and anxiety.

On top of this house prices are also beginning to lower which is a good sign for first time buyers but the additional cost of borrowing due to the higher interest rates is now one of the biggest factors to consider when thinking about purchasing a new home.

Pure Wealth has a dedicated team of Independent Mortgage Advisers and now more than ever you should consider speaking to an expert to review your options.

In this article I have tried to cover some of the benefits of using an independent mortgage broker.

Using the Pure Wealth Mortgage team can offer several advantages when you’re looking for a mortgage.

  1. Access to Multiple Lenders: Pure Wealth work with a wide network of lenders, including banks, credit unions, and private lenders. This means they can provide you with access to a broad range of mortgage products and interest rates, potentially increasing your chances of finding the best deal for your unique financial situation.
  2. Personalized Advice: Pure Wealth can assess your financial situation and goals to provide tailored advice. They can help you navigate the complexities of mortgage options, terms, and rates, ensuring you select a mortgage that aligns with your specific needs.
  3. Saves You Time and Effort: Pure Wealth Advisers handle much of the legwork for you. They can research and compare mortgage offers from different lenders, saving you the time and effort of contacting multiple institutions and filling out multiple applications.
  4. Expertise and Experience: A reputable mortgage adviser has extensive knowledge of the mortgage market, lending regulations, and industry trends. They can offer valuable insights and guidance throughout the mortgage process, helping you make informed decisions.
  5. Negotiation Skills: Our team are skilled negotiators. They can negotiate on your behalf to secure competitive interest rates and favourable terms. Their ability to leverage their relationships with lenders can potentially save you money over the life of your loan.
  6. Objective Advice: We a completely independent which means our team do not work for a specific lender, so they don’t have a vested interest in promoting one lender’s products over another. Their primary goal is to find the best mortgage solution for you, providing objective advice.
  7. Help with Complex Situations: If you have a unique or complex financial situation, such as self-employment income, a less-than-perfect credit score, or non-traditional income sources, Pure Wealth can help you find lenders who specialize in these scenarios.
  8. Streamlined Application Process: Pure can help streamline the mortgage application process by assisting with paperwork and documentation, which can be especially helpful for first-time homebuyers or those unfamiliar with the mortgage process.
  9. Saves Money: By securing a competitive interest rate and favourable terms, your dedicated broker can potentially save you money over the life of your mortgage. The cost savings from a lower interest rate alone can be significant.
  10. Convenience: The Pure team work on your schedule and can often speak with you outside of regular business hours. This flexibility can make the process more convenient for you.

So when should you get in touch?

The simple answer is as soon as possible but certainly within 6 months of any interest rate expiry.  Once introduced to your dedicated independent adviser they can quickly understand your requirements and objectives and begin to offer the most appropriate advice.  There is no cost for an initial conversation and if there are any fees throughout the process, they will be clearly explained prior to entering into any agreement.

Contact 02922 671957




The FCA do not regulate some forms of buy-to-let, overseas and commercial finance and taxation advice.