Best Mortgage Broker in UK 2022
If you are in the market for a mortgage and want to save money, there are several mortgage brokers to choose from. In this article, we will be discussing John Charcol, Kensington Mortgages, L&C and Cambridge BS. Which one is best? Read on to find out. We also look at the different types of mortgage brokers available and why each one is the best. The Best Mortgage Broker in UK 2022 will be chosen based on a number of criteria.
The new chief executive of John Charcol is Mark Fleet. The previous executive chairman Ian Darby is leaving the company to pursue other career opportunities. The company’s chief financial officer, Mark Woodall, has also left the company, after three years. These changes have made John Charcol a more competitive mortgage broker in many ways. However, it is not without its flaws. Read on to find out why it’s a better choice than most mortgage brokers.
Kensington Mortgages has a range of products to cater for borrowers with poor credit scores. While many lenders will turn down an application because of a credit score below 660, the company does have a range of products for borrowers with adverse credit. Some adverse credit issues are overlooked by Kensington Mortgages, but its underwriting team will take a closer look before they approve your application. Some of these adverse credit issues include bankruptcy or default less than two years old.
The fees charged by Kensington Mortgages depend on the product you choose, and can range from PS175 for under £100 to PS1,999 for homes worth PS400,000-PS500,000. The highest fee is PS2,860 for homes worth PS4m-PS5m. For all these reasons, Kensington Mortgages is the best mortgage broker in UK 2022. The firm also allows overpayments. However, overpayments may result in an early repayment charge. Regardless of whether or not you choose to make overpayments, it is essential to speak with your adviser to ensure you get the best possible mortgage deal.
Another benefit of Kensington Mortgages is its ability to offer borrowers with poor credit a wide range of mortgage products. They offer residential mortgages, buy-to-let mortgages, and mortgages for people with impaired credit histories. A recent announcement from Kensington Mortgages is long-term fixed rate mortgages. These loans can last up to 40 years. This gives the borrower a much larger property than they could afford with the help of a traditional lender.
In terms of service, Kensington is also an active lender and can help borrowers with GE Money mortgages. Unlike other mortgage brokers, Kensington specializes in working with former GE Money mortgage prisoners. GE Money is no longer active, so they may not have a problem with remortgaging. Kensington would help these borrowers in the future. Kensington is the best mortgage broker in UK 2022
L&C Mortgages are the leading fee-free mortgage brokers in the UK. The company began over 20 years ago and is now one of the UK’s largest independent brokers. L&C mortgage brokers provide fee-free advice on the phone and online, whereas most brokers charge for their services. When you re-mortgage your home, the process should be as hassle-free as possible. L&C does all the legwork.
The competition in the mortgage market is fierce. The market is likely to remain stable over the next two years, but UK Finance is not expecting a significant change over the next couple of years. The current blocker to significant changes is the availability of property, with the potential rise in interest rates denting confidence. Regardless, 2022 is expected to be a quiet year for house purchases. With these factors in mind, L&C mortgage brokers are well-positioned to provide independent advice to homeowners.
According to L&C’s remortgage tracker, the average mortgage payment has doubled from last October. The lowest two and five-year fixed-rate mortgages now cost around 2.5 per cent and 0.89 per cent, respectively. A PS150,000 repayment mortgage will cost PS100 more a month, or about PS1,200 more a year. L&C mortgage brokers advise that people who are on fixed-rate deals should start looking around six months before their current deal expires.
In order to become the UK’s largest mortgage broker, London & Country Mortgages and Habito are reportedly in talks to merge. The merger would combine both online and over-the-phone advisers. However, the deal could fall through due to ongoing talks. If it does, London & Country Mortgages would be one of the largest mortgage brokers in the UK by 2022. This would be an excellent move for consumers and investors alike.
The Cambridge Building Society has joined the TMA Mortgage Club, opening up a range of products to its brokers. This includes Help to Buy mortgages, Shared Ownership mortgages and its 95% LTV range. The range also includes accessible products for first-time buyers and those with smaller deposit amounts. It has also been nominated for best mortgage broker in UK 2022 and will continue to grow its market share.
This year’s Best Mortgage Broker Awards has also ranked Cambridge BS as the best mortgage broker in UK. The survey was conducted amongst mortgage brokers and found that the number of new applications has been rising every year. The Cambridge Building Society, Melton Building Society and the Suffolk BS have all been able to provide the best rates for first-time buyers. In terms of new mortgages, two of the three providers offer the lowest first-time buyer rates. Atom Bank and Santander are positioned to replace Cambridge BS as the best mortgage broker in UK 2022. Both new entrants offer free valuations and cashback for first-time buyers.
The Melton Building Society has named Fiona Pollard as its first female chair. The society, founded in 1875, has more than 40,000 members and offers insurance, savings and mortgage services. It also supports a local charity. Pollard will replace Alan Craft, who has been chairman since 2011. Prior to joining the company, Pollard worked in investment banking for ten years. She joined the society’s board in 2014.
The Melton Building Society has re-entered the shared ownership market by launching a new five-year fixed rate product. This product is available up to 95% of the property’s value. It is available for both new build and existing properties. Furthermore, Melton BS offers discounted buy-to-let mortgages at up to 90% LTV. Melton also offers a mortgage for first-time buyers at rates of up to 95%.