Mortgage Broker Southampton
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 Southampton
for Southampton
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 Southampton
Property prices in Southampton can vary considerably. Leasehold flats are sold in West End at an average price of £159,243, while in Hamble that same type of property can cost up to £220,700.
Location | 10% Deposit | What would your salary need to be? (estimated based on 4.5 times salary) |
West End | £15,924 | £31,848 or £15,924 per salary with a joint purchase |
Hamble | £22,070 | £44,140 or £22,070 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 Southampton
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
Pay off debts with savings
Information about any debt you owe to lenders and institutions can be accessed by other lenders and too much debt held generally lessens your credit score.
It invariably makes sense to pay off debts using your savings; the chances are any returns you make on savings are likely to be smaller than the interest and charges you have to pay for holding debt.
#2 Top Tip
Bridging Finance
Bridging finance is not strictly a type of mortgage but is often strongly connected to mortgaging. Strictly speaking it is short term – and relatively expensive – funding which is often used to:
- Bridge the finance gap between selling a property and purchasing another;
- Help buy dilapidated properties to 'do up'; and
- Help buy auction properties.
Lenders need to be satisfied that bridging finance can be repaid and normally require lending to be secured against other residential or commercial properties held, whether a first or second charge.
It is normally relatively quick to arrange and is set up on a bespoke basis.
It is normally relatively quick to arrange and is set up on a bespoke basis.
If a family member or friend is providing you with any of the finance towards your home purchase in Southampton, make sure your solicitor has all the information in good time.
If there is a loan or a gift, your solicitor may need proof of funds, relevant documentation and a proof of ID. If they do not have this, you may find yourself ready to exchange but not able to go ahead. Furthermore, your mortgage lender may not be happy to lend where there is an unregistered interest (i.e. the financial interest of your relative or friend) over the property.
They will want to know if this is going to be a gift or a second registered charge. As you can see this is prone to getting complicated and can affect whether or not you decide to proceed. If you can get everything underway and sorted out as soon as possible, you will be in a better position to make an informed decision from the outset.
Frequently Asked Questions: Mortgage Brokers Southampton
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 Southampton 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 Southampton - Recently Completed
- Forester Road, Soberton Heath, Southampton, Hampshire, SO32 3QG
- 12 Keppel Rise, Centenary Quay, Woolston, Southampton, SO19 9UD
- 65 Gordon Avenue, Southampton, SO14 6WH
- 167a Spring Road, Sholing, Southampton, Hampshire SO19 2NU
- Holly Lodge, Empress Road, Lyndhurst, Hampshire. SO43 7A
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).
