Mortgage Broker Coventry
Our mortgage brokers are independent of any lender and offer a full spectrum of straight talking, expert financial advice. Perfectly positioned to help you with your mortgage requirements.
Access to the Whole Market
FREE* consultations
for Coventry
for Coventry
Convenient
Remote Appointments
Remote Appointments
Impartial Mortgage Advice
FT Top 100 Mortgage
Advisors 2022
Advisors 2022
Why choose Mortgage Brokers with SAM Conveyancing?
Whether you are making a purchase or remortgaging a property, using an impartial mortgage advisor saves you from being pressured by any specific lender, so you can choose the best deal available from the whole market.
We can offer you a free* initial consultation with our independent mortgage brokers at Advies. They search across the whole market to provide the best mortgage rates that match your needs and circumstances, with access to exclusive rates that can beat the high street lenders.
We are delighted to announce that Advies have been recognised by the Financial Times as being one of the FT Adviser UK Top 100 Financial Advisers 2022.
Our mortgage advisors attain the strictest Financial Conduct Authority standards, to ensure honest, competitive and fair services, to you.
Bank of England Base Rate
5.25%
Increased from 5% on the 3rd August 2023.
How to get a mortgage in Coventry
Property prices in Coventry vary significantly. The average price in Meriden for a detached house is £679,605, whereas in Earlsdon it is £573,615.
Location | 10% Deposit | What would your salary need to be? (estimated based on 4.5 times salary) |
Meriden | £67,960 | £135,921 or £67,960 per salary with a joint purchase |
Earlsdon | £57,361 | £114,723 or £57,361 per salary with a joint purchase |
Are you self-employed? 5 Tips for Getting a Self Employed Mortgage
The rate of your mortgage will affect your affordability assessment. Use our calculator to see how the current rate will affect your monthly payments.
Our Mortgage Broker Guide to getting a mortgage in Coventry
The mortgage application process has 4 stages regardless of which mortgage lender you use:
- 1Approval/Decision in Principal (AIP/DIP)
- 2Mortgage in Principal (MIP)
- 3Mortgage Valuation
- 4Mortgage Offer
#1 Top Tip
Checked one score? Check all 3!
Remember that in the UK there are 3 main credit reference agencies: Experian, Equifax and CallCredit. All 3 use different methods to produce a credit score and one or all may be consulted by a lender about your credit-worthiness.
It therefore makes more sense to check your score – and file – for all 3 so you have a complete picture of how your profile is viewed and can take any necessary steps to keep your credit score as high as you can.
#2 Top Tip
Repayment Mortgage
You have to take out a repayment mortgage if you are a residential home buyer. You are granted a mortgage loan normally conditional on your saving a deposit of a minimum of 10% of the purchase price (in certain circumstances a lower percentage or even no deposit may be acceptable) and you commit to making regular monthly repayments over an agreed term, frequently 25 years, during which you pay back the loan.
For each payment you make, a portion of the money goes toward paying the interest on the loan and the rest goes towards paying down the capital. You accumulate more of the underlying capital over time so the interest element becomes less and the portion devoted to paying off the principal increases.
The biggest advantage of a repayment mortgage is that as long as you make all the payments, you can rest assured that at the end of the term you'll own the full equity of your property. This is not guaranteed to be the case with an interest-only mortgage; these mortgages are now only open to commercial customers.
Consider booking your searches as soon as you have an offer accepted
If you're buying a property with a mortgage, your lender will normally expect you to book four standard property searches (local authority, environmental, chancel indemnity and drainage) and you are advised to get searches anyway so you have as much information on your property as possible.
Although you could choose to delay getting your searches to space out your conveyancing-related payments, you are more likely to save time on your conveyancing if you do not.
Your solicitor needs the information detailed in the searches as part of their extensive checks on the property you're looking to buy. As soon as they have this, the quicker they can carry these out and the sooner you'll be able to exchange contracts with the vendor, all going well.
Should you or the vendor choose to pull out of the sale for any reason, the searches can be sold on to any other prospective buyer of the property in question.
Click to find out more about property searches
Frequently Asked Questions: Mortgage Brokers Coventry
The role of a mortgage broker is to take your information and compare multiple deals from different lenders, based on your specific details, to find you the best option.
The benefit of using a mortgage broker is having one expert doing the research and comparison for you, rather than dealing with multiple lenders who all want to sell you their own product. Our independent Coventry mortgage brokers have access to better deals than the general public and can negotiate on your behalf.
Unless you have already found a mortgage products and aren't really interested in finding a better deal, it is always worth using a mortgage broker and when your initial consultation is free with SAM Conveyancing, what have you got to lose?
Some homeowners want the convenience of borrowing with the same lender than they currently bank with. Even then it is often worth going through a broker anyway, as they may be able to get you an exclusive offer from that very same bank, that you wont have access to.
Most mortgage brokers make their money in a flat fee or a commission which is paid to them by the lender. Some brokers charge a fee to the borrower which is normally payable as a flat fee, or it can be financed with the mortgage.
You'll need a mortgage approval in principle in order to budget, so you should get a mortgage broker before you start looking for houses and certainly before you make an offer on one. In fact, some people speak to a mortgage broker as soon as they decide to get serious about buying a home.
There's no need to meet a mortgage broker face to face. Our hand selected mortgage experts offer convenient remote meetings by phone, for award-winning, national coverage.
A mortgage broker will be quicker purely based on their greater experience. They will be able to check your application to make sure it's not rejected for commonplace mistakes and they can steer you away from wasting your time applying for mortgage products or to lenders who are likely to turn you down.
* How does the Free Mortgage Consultation work?
SAM Conveyancing has negotiated a FREE Mortgage Consultation with our panel mortgage broker. This allows you a free mortgage consultation to discuss your specific requirements and provide mortgage opportunities for the Service being requested. If you want to proceed with a formal mortgage application through your mortgage broker, then a mortgage application fee maybe payable. If there is a fee to pay for your mortgage application, it will be explained to you at the point of discussing your mortgage options.
You can disengage the services of your Mortgage Broker prior to making a formal application and no fee will be levied.
Read our - Terms and Conditions.
SAM Conveyancing is an approved partner of Advies Private Client, and this page is an advertisement for them. SAM Conveyancing does not provide or arrange mortgage advice, but we may receive a commission for any product you take with Advies Private Client after we introduce you to them.
SAM Conveyancing is not regulated by the FCA and does not provide any insurance or mortgage products products nor can we provide any advice on different insurance or mortgage products. Please liaise with your chosen Advies Private Client for any insurance advice.
**Subject to availability. If we are fully booked ask and we will see if we can fit you in sooner.
Mortgage Broker Coventry - Recently Completed
- Amis Court, 41 Common Way, Coventry, CV2 3JL
- Flat 64, Wilson Green, Binley, Coventry, CV3 2TN
- 19 Kentmere Close, Coventry, CV2 2GE
- 20 Tremelling Way, Arley, Nuneaton, Coventry, CV7 8PS
- 201 Daventry Rd, Coventry CV3 5HE
Watch our video to find out how to organise your mortgage and funding for your purchase.
Click to access our online mortgage payment/repayment calculator (UK).
