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.”
The most significant commitment you make in your life is buying a home, which means the most significant payments in your life are your monthly mortgage payments. If you fail to make these payments on time and in full each month, you run the risk of losing your home. This is an outcome most people can’t bring themselves to consider, so it is easy to see why mortgage protection is vital for many households.
Rather than being a single policy type, “mortgage protection” covers a range of policies which help you pay your mortgage if you are unable to meet these payments. If you suffer an illness, are made unemployed or are involved in an accident, your income may be affected, and this may place your home at risk.
Income Protection provides you with a proportion of your income if you are unable to work because of an illness or accident. It is also possible to arrange cover to protect you in the case of being made redundant, but these policies are more expensive. You can also choose between shorter-term income protection, STIP, policies which payout for a limited time, or longer-term income protection, which cover you until you reach retirement age.
Income protection will commonly cover up to 65% of your gross salary. The payout figure is lower than the wage because there is no need to pay tax on insurance payments. The recipient should also be able to claim state benefits, such as the Employment Support Allowance, which isn’t means-tested.
Mortgage Payment Protection Insurance, known as MPPI, provides cover for your loan payments for a defined period, up to two years, if you suffer an illness or accident which leaves you unable to work.
Critical Illness Cover provides a lump sum if you develop a listed medical condition. Each policy is unique, but this cover is usually available for matters such as heart attacks, strokes or cancer.
While mortgage protection isn’t compulsory, you need to consider how you would manage to pay your mortgage if something left you unable to work. Your finances, savings, and how much money you need each month will influence your decision, so you must consider your circumstances before making a decision.
You will also find your nature and feelings about risk will influence what level, if any, of mortgage protection you are comfortable with. Some people are risk-averse, and these people will feel more comfortable when they have a back-up plan protecting them when it comes to paying their mortgage.
Given mortgage payment represents an additional cost, and it is easy to see why some people would prefer to avoid this cost. However, anyone who is concerned about the impact losing their income has on their home and mortgage, should consider the confidence provided by mortgage protection.
The amount of pay the person pays depends on various factors including their age, their job, whether they smoke, their health record, their age, and any family medical history.
First-time buyers represent the largest group of property buyers in the United Kingdom. There has been a belief that first-time buyers are looking to buy flats, and one or two-bedroom properties. When you consider the cost of purchasing property, it is perhaps understandable why people believe first-time buyers want to buy this style of home. Still, a recent study suggests first-time buyers are looking for larger homes.
Outside of the London market, which often plays to its own rules, a majority of first-time property buyers are overlooking one and two-bedroom flats, and are looking to step on to the property ladder with a three-bedroom home. This is according to data provided by Zoopla.
The study suggests two-thirds of these buyers were keen to buy homes in 2018, and if you ignore London figures, the proportion of first-time buyers looking for homes rises to 80%.
The online property portal states the challenges first-time buyers face making their way on to the property ladder has caused many buyers to change their mindset. More first-time buyers are looking at the long-term, and they want to move into a property where they can stay for a more extended period.
This means the upfront costs of arranging a mortgage and buying a home are higher, but they will stay in the same home for a more extended period. By removing one step in their property lifetime, they are potentially saving a lot of money in their long-term.
However, buying a more significant home upfront means these buyers need to find more substantial deposits and pay a higher monthly mortgage payment. With many first-time buyers already struggling to step on to the property ladder, it is vital buyers consider their finances and make an informed decision as to how they should process.
It seems as though one solution comes with first-time buyers taking out a mortgage with a longer-term. Ten years ago, the majority of first-time buyers took out a 25-year mortgage, but now it appears the average length of lease for a first-time buyer is 30 years. This helps to make monthly mortgage payments affordable, but it means the overall money paid to service the mortgage is higher for the property buyer.
Richard Donnell, research and insight director at Zoopla, says: “First-time buyers are not compromising on size and price of home. Our analysis suggests that they are taking the long-term view and buying a home with a longer-term horizon than they may have done in the past. Three-bedroom homes remain the primary housing type in demand and this drops to two-bedroom homes in London where housing costs and affordability pressures are greatest.”
While buying a larger home makes sense for many first-time buyers, these buyers mustn't over-extend themselves. There is a wide range of assistance for property buyers, and lenders are keen to provide a competitive mortgage. Of course, there will always be a need for property buyers to take responsibility, and ensure they agree to a mortgage which they can afford.
If you’d like to get in touch with us to discuss all your possible options, we’re always here to help. With mortgage brokers in Woking and Camberley, you are never too far from mortgage advice.