First class service! Straight forward to deal with, answered all questions quickly and a speedy turn around to mortgage offer being issued. I cannot recommend AJMS and the Team highly enough. I would…
Thank you so much to AJMS for helping out with my recent remortgage. Always available on his mobile to answer any questions I had and made the whole process as stress free as possible for me. I would…
AJMS was extremely helpful in arranging my remortgage. His excellent knowledge allows him to provide a fast, efficient and professional service. Previously I have tried to arrange these myself which …
Highly recommended explained everything well, went to and from the lender so many times making sure all was agreed before spending my money on a survey 5 star amazing service!
Thank you AJMS for helping us with our mortgage! We really appreciate your patience and for always being at the end of the phone to answer any questions no matter how big or small!
Thank you so much to AJMS for helping out with my recent remortgage. Always available on his mobile to answer any questions I had and made the whole process as stress free as possible for me. I would definitely recommend him to friends and family!
“I received protection advice from Brian at AJMS and we proceeded to arrange various insurances for myself & my partner. I am very happy with the service I received and the policy I was recommended, I wouldn’t hesitate to recommend Brian’s services to anyone looking to arrange their personal insurance. “
AJMS has been our mortgage/financial advisor for many years now. His knowledge and expertise is second to none and I can’t recommend his services enough!
Alexander James Mortgage Services - The Best Woking Mortgage Brokers
AJMS is extremely knowledgeable, professional, supportive and well versed in many financial services, including but not limited to Mortgages. I would highly recommend you engage with him and his company to assist with your financial needs and mortgage application. A one stop shop in financial services with friendly advice and exceptional service delivery. Happy Customer !!
Alexander James Mortgage Services - Woking Mortgage Brokers
AJMS has been very helpful and knowledgeable helping me out get the mortgage to get my first house. His knowledge does not only limit on mortgage but broader financial areas. I was a happy customer and would definitely ask him for your help if I will need to get more properties with mortgages or advice on financial planning.
I used AJMS over the course of the years for my property purchases. In all my dealings with him he has always given me impartial advice and in my opinion found the best rates on the market. I would recommend AJMS as an honest and genuine financial adviser.
We were recommended to use the services of Alexander James Mortgage Services by our then financial adviser.
In retrospect, this was an excellent recommendation as AJMS provided an outstanding service.
We were so impressed with the service that AJMS provided that when our youngest daughter decided to purchase a flat, we again secured the services of AJMS.
Who provided a first class service in helping her obtain a very competitive mortgage and appropriate life, critical illness, contents and health insurance cover.
And in the future will help her to set up a private pension fund.
So to anyone looking for sound, sensible and straightforward financial advice, we all recommend Alexander James Mortgage Services.”
You can of course buy a house with cash! However, like with most things, it can have advantages and disadvantages.
What does buying a house with cash mean?
Buying a house with cash is jargon for buying a property outright with the money you already have; meaning you do not need a mortgage or loan to buy the property. It doesn’t mean buying a house with a briefcase full of £50 notes, which is what the saying may suggest! A cash buyer must have the money ready at the time of making the offer on the property.
What are the benefits of buying a house with cash?
More reliable buyer
Firstly, it can make the buyer more reliable, having the money upfront can mean there aren’t as many things to go wrong! For example, there are no affordability checks to pass, no chain to be caught up in, no valuations or waiting on funds to be released. All of these can make you a more attractive buyer.
Getting a mortgage can take some time! You have to wait for affordability checks, then the mortgage needs to be approved before the funds are then yours. However, a cash buyer should be able to move straight away as there is no loan to wait for.
When buying a house outright there is no worry about monthly mortgage repayments. This is a lot less stress each month and it means there is always a roof over your head. This also means there is no need for mortgage insurance as the home you own is already yours.
Of course, the most obvious benefit to buying a house with cash is there is no interest. With all mortgages the lender will charge interest on the loan, buying with cash ensures there is no interest and no other charges, such as an early repayment charge.
What are the disadvantages of buying a house with cash?
Your money is tied up
Buying your home outright is a great achievement, however, it is important to ensure it is what you would like to do for definite. It is a large commitment to make and means you may not have any savings left for emergencies such as vet bills or car repairs, as well as everyday utility and food bills.
It is also important to ask the question: would I still be able to afford the running costs of the house if I was made redundant or I was unable to work? If you are unsure on this, we can help discuss all protection policies that are available such as building and contents or income protection.
Faults with the house
Occasionally properties ask for ‘cash buyers only’, this can be a red flag! It can indicate that there is an issue with the property meaning it is difficult or impossible to get a mortgage on the property. This is why we would always recommend a house survey, this will highlight any issues and ensure you are putting your money in the right property. The house could be unmortgageable for many reasons – it may be in a high flood risk area or have structural damage.
Offers below the asking price
It is common for cash buyers to ask below the asking price for the property as they know they are in a strong position. Even though this may not be what you were initially asking is always worth asking yourself what is more important; no chain buyer, a quick sale, or waiting for a buyer to offer the asking price?
If you are based in Woking, Camberley, or Surrey and are thinking of buying a house with cash, get in touch to discuss your options. We are always more than happy to help with any of your mortgage and protection needs.