Premier Empire Mortgage

For most Canadians, buying a home is the largest financial decision they will make in their lifetime. Yet, consumers across the country are more likely to painstakingly review dozens of investment possibilities for their portfolios than to scrutinize their mortgage choices. The mortgage world - like the investment world - can sometimes be confusing. There is a vast array of choices - open, closed, fixed, floating, long or short amortization, prepayment options, portability… and of course, the rate itself.

Making the right mortgage decision can have a huge financial impact over the long term. Many Canadians have an investment advisor to help them sort through their choices. Now, Canadians are also beginning to turn to mortgage brokers to help them make better mortgage decisions. Canadians are just now catching up with their counterparts south of the border, where mortgage brokers already arrange approximately 70 per cent of mortgages for U.S. properties.

So what is a mortgage broker? The role of a mortgage broker is to understand your mortgage needs, seek out the best options for your situation, and guide you through the lending process. A mortgage broker does not work for any individual institution or lender, but is independent, and has up-to-the-minute loan rates for a wide array of banks and other lending institutions.

There was a time when the banks exercised the view that they “owned” their customers, and mortgage brokers were perceived only as a last resort for home buyers with poor credit history. But times have changed, and home buyers in every bracket are learning they can benefit from the professional advice of a mortgage broker.

A good investment advisor can make you thousands of dollars. But a good mortgage broker will SAVE you thousands of dollars. Whether you are buying a home or renewing a mortgage, consider making a mortgage broker part of your financial plan this year.

Mortgage advice, loans, pensions, tax, investments and savings. All a relative minefield for todays average person looking to secure the future for themselves and their offspring. But this is clearly no new predicament.

Honey, Im pregnant - again - for the eigth time! Not the sort of welcome home many men wish to hear these days but imagine going back a few thousand years to that homecoming. Fine dear, let me count the spare camel, sheep, chickens bags of grain, limbs etc. I can swap for a bigger property!

Man has, since the beginning of time, found ways of dealing for profit and gain long before money was invented. From grain, tools and tobacco through to Cowrie shells from the Indian Ocean which were still used until recent times. Even today, within the households of the mind blowingly rich around the world, gold bullion is preferred as a tangible commodity.

The royal palaces and temples of ancient Mesopotamia may well have had no idea just what they were starting when they initially provided secure places for the safe keeping of commodities such as grain. But they did modern day man a huge favour with the Code of Hammurabi - the first official laws regulating banking operations.

Long gone are the days of hauling around shed loads of grain to buy a house with. For the average person in need of protection from loan sharks gold bullion is not a realistic option and neither is hiding your hard earned savings under the mattress. Hence, the fast growing popularisation of electronic banking.

With all our assets tied up in banks and building societies can we always be sure of getting the most from our money? After all, they are all money making organisations out for their own interests ahead of the consumers. This is where mortgage advisors and mortgage brokers come into their own.

Recent years saw a huge upsurge in people wanting to jump on the investment bandwagon of buying to let. Probably fuelled by a trend in TV programmes relating to property renovation and making people feel this get rich quick scheme was accessible to even the most inexperienced developer.

Banks have cashed in on this trend with a push of their mortgages for buy to let schemes. However, according to the Council for Mortgage Lenders, UK house repossessions for 2006 totalled 17,000 - a massive 65% increase on the previous year. So, are individual banks doing whats right for the consumer?

A wise decision for any prospective purchaser or investor is an independent mortgage advisor. Regulated to protect the consumer, they are able to advice on a much broader range of products that can be tailored to the individual. Although still working for a commission (no grain!), they are not obliged to draw customers to one organisation or another.

Mortgage advisors are there to find you the very best deals in mortgages - whether it be investment, endowment, pension or repayment. They can advice on overpayment, underpayment, payment holidays, variable rates, fixed, discounted tracker and capped rates.

All financial concerns can be discussed with your personal mortgage advisor, including the buy to let mortgage, for everyone from the commercial developer to the first time buyer, from self build project managers to those looking to re-mortgage or buy a second home. They can even advice on the raising of finance for house boats, mobile homes or the more unusual property.

Your mortgage advisor will be able to help deal with problems such as CCJ’s, bankruptcy and repossessions to get you back on that property ladder as well as imparting his vast financial advice of insurances, pensions, savings taxes and will writing.

So, with that next child on the way, a retirement looming or an unexpected accident or illness there is no need to panic, or round up the wildlife, just get advice from a mortgage broker.

During times when lending standards tighten mortgage companies have a tendency to advise their borrowers to take what they can get. In certain cases this may be legitimate mortgage advice but we recommend seeking the advice of someone not affiliated with the transaction.

And by this we do not mean your brother-in-law.We recommend getting an independent review of your mortgage terms from a third party advisor such as Trusted Mortgage Advice.com.

This service affords borrowers the opportunity to have an independent mortgage advisor review the terms of the loan they are getting to make sure it is the best possible. And while many mortgage lenders offer a similar claim in hopes of luring a borrower away Trusted Mortgage Advice.com is NOT a mortgage company.

Mortgage Advice for Important Decisions

Legitimate, independent advisors are specially trained to give mortgage advice to borrowers who are going through the lending process. This includes answering questions that borrowers may be hesitant to ask their mortgage company for fear of being steered in the wrong direction. Many of the questions cover common ground such as:



Are these closing costs fair and competitive?

Should I pay points to buy the rate down?

Is this really the best rate I can get?

How much should I borrower to pay debt?



Certified loan advisors at www.Trusted-Mortgage-Advice.com will review the terms of your proposed mortgage loan and make specific recommendations for consumers to use in negotiating the best rate and closing costs with their lender. By serving as your advocate through the mortgage transaction they provide you with valuable information that will save you money, not only at the time of closing but over the life of your loan.

Independent Mortgage Advice That Wont Solicit Your Loan

Dont fall for another lending advertisement that offers to review your terms in hopes of soliciting your mortgage. Go with a company such as ours who offers a legitimate outlet for mortgage advice. As third party consultants Trusted-Mortgage-Advice wants to give borrowers peace of mind and to confirm that you are getting the best deal possible.

Things were never meant to turn out like this for the happy couple in the wedding photo. They had done everything above board, all planned in meticulous detail and professional guidance sought, from mortgage advice to family planning and careers advice.

However, not all scenarios can be predicted and it is only possible for a couple to do their best in the current situation. Of course, they had built in protection as much as possible for events to take a down turn. When they took mortgage advice, they knew that they should take out insurance against possible unemployment and this they duly did, leaving them with at least some feeling of security when they embarked on purchasing their first home.

So, they moved into their little terraced house and were blissfully happy for several years. The first child came along and everything looked rosy. The mortgage advice they received at the beginning of their journey allowed for her to give up work and raise a family. All was covered and, as I say, they were happy.

This was before the Northern Rock crises that sparked panic in the financial world. A credit crunch was looming the world over and this little family found it necessary to pull the belts ever tighter while managing their budget. Work had dried up a little for him and they were eking out a meagre income. Interest rates were rising and although this was a possibility discussed during their mortgage advice sessions, it wasn’t something that could be forecast with great accuracy.

One wintry morning brought another of the dreaded window envelopes to their door mat. Interest rates were rising again and it was feared that this would finish the couples finances completely. It was shortly after this that she decided she had to go back to work and began searching the classified and checking out childcare facilities.

It worked out that for a full weeks work and all the stress of running around between work, childminders, home and shopping etc that this would actually generate an extra 25 pounds a week. Hardly worth the effort but they so wanted to hang onto their home so of course, she was devastated to find out two weeks later that she was pregnant again.

Mortgage advice hadn’t allowed for this little gem!

This left her unable to return to work and with his reduced income the delight of their second daughter coming into the world was marred by the repossession order hanging over their heads.

Six months after their newest arrival the couple found themselves living in council run temporary accommodation. Far from what they were used to the couple joined a local support group and found that they were not alone. Many families had met dire straits with the financial crises in the country and it bolstered them a little to know it was not their own mismanagement that had caused this downfall.

Time passed and the couple became used to their situation, saving what little money they had left from their house sale in the hope that future mortgage advice would see them back on that property ladder.

The meetings with others in their support group spurned an idea that could see them all slowly digging their way out of this financial pit. Taking mortgage advice, several of the couples decided to club together what they had left and buy a dis-used building that they could turn into temporary accommodation for others in this situation but with the emphasis on much better quality than what local authorities could provide.

Plans were drawn up, agreements signed and eighteen months later things had turned around beyond recognition for the couple. They had a rough over their heads and a business with good people that they could both work at with no childcare worries.

The world of finance has never been the easiest to understand and when it comes to mortgages this is even more so. When it comes to taking on a holiday let mortgage then most of us are truly out of our league. Investing in a holiday let property is a huge venture but can be a very profitable one when all options are considered wisely. While the prospect of owning a holiday let property can seem in the beginning to be an adventure at times you can also feel alone in this strange world and this is where you need someone you can turn to for holiday let mortgages advice.

Fortunately there are people who can give you advice when you need holiday let mortgages information and help. A specialist broker can go through your options with you and then take on the huge task of shopping around on your behalf for the best deal available to meet your needs.

There are many different factors to be taken into consideration when it comes to getting the best deal on your holiday let mortgage and a mortgage for a holiday let is different to the type you take out for your own home.

One of the biggest problems you will come across with holiday let mortgages is that the lender will want to make sure that you are going to get enough income from letting the property to cover the mortgage interest. You will also have to make sure that the property is considered to be fully furnished and that it will be available for letting for at least 140 days out of the year and you must actually let it for at least 70 days.

However if you prove this then you will be able to take advantage of the tax breaks that holiday let investors can be entitled to.

This only briefly touches some of the aspects of the holiday let business and what’s involved and as you can see turning to a broker for holiday let mortgages advice is essential to ensure that you understand the ins and outs of not only the mortgages available, but also the many other aspects that have to be taken into account when it comes to owning a holiday let.

If you don’t know there is a global credit crunch, you must have been living on another planet. And if you’re trying to buy a house or get a mortgage, you will be only too aware of its effects on the mortgage market.

Some people decide there’s no point in even looking for a mortgage. Others, especially first time buyers, are completely confused about where to go for a good deal. If you are one of these, it’s really important to get mortgage advice.

So why is getting mortgage advice more important now than ever?

As banks and other lenders are finding it harder to get hold of money to lend to would-be borrowers, their lending criteria get increasingly stiff - that is, they impose tougher conditions before they regard you as suitable to lend to. You need mortgage advice to show you how you can maximise your chances of finding a suitable mortgage.

Obviously there is a much more limited choice of mortgages available than there was a year ago, or even a few months ago. Most of us know someone who has been in the process of applying for a particular mortgage, only to find that product is suddenly withdrawn. Not only does this mean they have to start all over again, but they might well lose the house they were after. This is less likely to happen if you have taken mortgage advice first, as the adviser is more likely to know which are the safest products.

Taking advice from a whole of market mortgage adviser, even if it means paying a fee, is the best way to make sure you get the right deal. A lot of products are more competitive when obtained via a broker than when obtained from the actual lender - this is because lenders often give brokers advantageous terms because of the business they bring them. On the other hand, in the current market, some lenders are keeping some competitive products to themselves and not making them available through brokers. A whole of market mortgage broker will be able to source the best deal for you, wherever it may be found.

There are so many different factors to weigh up when choosing your mortgage that it’s extremely complicated to sort it out on your own. The one with the apparently lowest rates may not be the best one - you have to look at charges, redemption fees, and factors such as whether interest accrues daily, monthly or yearly, and whether overpayments are accepted. You also have to be sure that the rate initially offered by the lender is the rate you will actually get, rather than being a “headline rate” or “typical rate”. Plus of course you have to decide whether or not to go for a fixed rate mortgage, and whether an interest-only or repayment mortgage is more suitable for you. It can be difficult and stressful and this is where taking mortgage advice can really help you.

With the situation changing every day, virtually everyone is confused - you’re not alone! But if you take whole of market mortgage advice, you will find the person who is best placed to know how things stand at any given time and to guide you to the best solution.

The credit crunch has created a mortgage drought that is expected to worsen and more people are expected to slip into mortgage arrears in 2009.

For those with bad debts, arrears, credit problems and CCJs the outlook is bleak with one in four finding it difficult to obtain a mortgage or remortgage from a traditional high-street lender. Increasingly, mortgage deals are available only to borrowers with a 40 per cent deposit.

Experts fear that the mortgage market is freezing out young people and people who bought recently but need to remortgage.

But help is at hand from one company who believes that mortgage deals are still out there and who provides a conscientious and personal service to ensure that their clients will be able to have the house of their dreams.

J P Financial is a whole-of-market mortgage broker, providing mortgage advice on all types of mortgages and remortgages as well as refinance and secured loan products.

And because they are not tied to any lender they are able to remain fair whilst also finding the best possible deal.

The company offers thousands of mortgage products and allocates one mortgage advisor to see a client through the process of finding the best mortgage to suit their individual situation.

Their mortgage advisors use the latest computer technology to obtain the most up to date mortgage advice and mortgage rates the market has to offer.

Their web site, at www.jp-financial.co.uk, has a handy mortgage calculator to help buyers see whether their mortgage requirements are affordable. It also contains a wealth of useful information on mortgages (including self certification, buy-to-let, remortgage, right-to-buy and commercial), debt consolidation, bridging finance, life cover and mortgage protection.

My husband was a war reporter working in Iraq. Every time he went away I worried and stressed that something would happen but he always assured me that he never took any chances. I was fotunate enough to be able to run my own small business from home which kept me busy during the day and also meant I was there for the children after school.

Even when he was away my husband would deal with all the household finances from his laptop. When we bought our first house and he was reporting from the Falklands, he searched out mortgage advice on line and arranged our mortgage from a distance. He continued with an insurance policy that he had taken out many years ago, so as far as I was concerned everything was covered.

The day I was told of his death I was inconsoleable. The usual neccessities were dealt with and it obviously took some time for myself and the children to come to terms with what had happened. I believed all the finances to be dealt with but had begun to recieve letters from my mortgage lender saying there was a problem with the repayments.

My brother sat me down one day to help me sort it out and we opened the dreaded letters together. The insurance letter, which I thought was a standard payout, turned out to be no such thing. Because of a loophole in the policy and the fact that my husband was in a no-go area at the time, the insurance company decided they would not pay out.

The mortgage lender had got wind of this which meant no life cover and no mortgage cover! I was two months behind with the repayments and they were threatening to repossess my home. Where would I go with my children? How would I get my business back on its feet after neglecting it for the last few months? How would I support my children?

My brother was there to help. Having taken mortgage advice himself recently, he put me in touch with the right people. My main priority right now was keeping a roof over our heads but how was I going to do this with such a drastically reduced income?

My mortgage adviser came out to see me, talking to me like a real person and not a business opportunity. We went through my personal circumstances. Due to the lack of attention I had given my business recently, I had run up debts on top of my mortgage arrears. After shopping around with mortgage lenders, my mortgage adviser was able to secure me a mortgage specifically tailored to the needs of a self employed person. It encompassed a debt consolidation arrangement, business protection and proper insurance cover.

With these concerns now dealt with in such a professional manner, I was now free to concentrate on getting my family and my business back together. As soon as I am ready to do so, my mortgage adviser will be helping me to deal with will writing so that my children do not have to face these difficulties again.

Finding independent mortgage advice is not as hard as it sounds. It is very important though if you want to make the right decision about which mortgage is the best one for you.

There are plenty of information about mortgages in the public domain on websites, in magazines and tabulated over and over again in mortgage comparison tables. We believe that because there are so many variables within the minefield that is mortgages, that seeking mortgage advice is essential. In fact, we even recommend you speak to independent mortgage advisors or brokers who have access to the whole UK mortgages market because otherwise you might not get advice covering all mortgages available to you.

This is even more important if you are trying to get onto the first rung of the property ladder and are a first time buyer. With the property market being so tough in the UK, there are more and more first time buyer mortgages on the market now and good mortgage advice for your first home is essential.

Since 2004 the giving of personal financial and mortgage advice in the UK has been governed by the Financial Services Authority. Companies or individuals offering personal financial or mortgage advice must comply with the Financial Services Act or they are breaking the law. Many companies offer consultations on an information only basis and you would need to formally agree to having requested to be advised on financial matters. Adherence to the rules of the Financial Services Act is called compliance.

Mortgage advice can be sought from a number of sources:

A tied mortgage adviser: These work and will therefore recommend products on behalf of just one lender.

A multi-tied adviser: These will recommend products from a limited range of lenders.

An Independent Financial Adviser (IFA) or Independent Mortgage Advisor: These will recommend products from the whole market.

You are perfectly entitled to ask on what basis your advisor is operating.

Be warned though, that if you go to see an Independent Mortgage Advisor, they will be independent on mortgages but perhaps not insurance and most homebuyers take buildings insurance alongside their mortgage.

By researching and reading it is relatively easy to glean a certain amount of useful information but by seeking personal mortgage advice from a mortgage advisor, you will be gaining the expertise of someone who knows all about all the different first time buyer mortgages on the market, what special deals are on offer, the peculiarities of the one lender versus another, what the latest mortgage releases are and of course they will always take your personal plans and circumstances into consideration.

As well as verifying who you are, you will be required to provide evidence of major income (your salary) and your major out-goings like car-loans, student loans etc. If you have loans or debts, it does not mean that you cannot apply for a mortgage.

Mortgage advice can be given in a number of different ways. It can be given by phone, email or in person - different advisors work in different ways. These days professionals are pretty flexible. In order to give you proper mortgage advice, mortgage advisors will need to a great deal of information about your personal finances. They want to determine that you can and will be able to make the mortgage payments. The last thing they want is to repossess your property if you fail to be able to make the mortgage payments. They will ask your permission before they give financial or mortgage advice. You will probably need to sign an agreement form saying that you agree to being given mortgage advices as opposed to just mortgage information.

When the mortgage advisor or mortgage brokers has taken all the information from you about what you want and your finances, you might, after agreeing which mortgage and which mortgage lender is appropriate to you, make a mortgage application.

The selected mortgage lender will scrutinise your form and carry outs some checks of their own

Some advisors gain their income form commission they earn from selling insurance policies and mortgages whilst others charge for giving mortgage advice. You are perfectly entitled to ask about what charges will be applicable in your instance.

Dont be intimidated by mortgage advisors. Though they have trained for a considerable time to be able to offer mortgage and financial advice, they are human, just like the rest of us.

First time buyers also have to think about budgeting, as in many cases they may not have had the experience of trying to met mortgage repayments, bills, and costs of living. So, as a first time buyer you will have plenty to think about.

Many people that are buying for the first time find that trying to raise a deposit as well as have cash for solicitor fees, stamp duty, furniture, and other costs involved in property purchasing can be very difficult, and this is why a number of lenders offer mortgages for one hundred percent of the propertys value, which means that you wont have to find the traditional five percent deposit. Some lenders will even offer over and above the propertys value, giving you additional funds for home improvements, furnishings, and even to pay the stamp duty.

One thing to bear in mind if you do opt for a one hundred percent or higher mortgage is that you run the risk of falling into negative equity, which means that if property prices fall you will find yourself in debt for far more than you would get if you were to sell the property.

Another first for many first time buyers is having to budget and work out bills, mortgage payments, and living expenses, ensuring that your income adequately covers your outgoings without leaving you too financially strained. If you opt for a variable rate mortgage you could find this quite difficult, as interest rate changes can mean that the repayments on your mortgage are unpredictable, and this can make it harder to manage your finances effectively.

This is why many first time buyers opt for a fixed rate mortgage, which enables them to get used to the independence and having to manage their own finances without having to worry about fluctuating mortgage repayments. You will be able to enjoy a fixed rate for a specified period, which will give you time to get used to budgeting and get some savings behind you before you revert to a variable rate.

Alisdair Milton