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.”
In recent years, longer-term mortgages have come quite commonplace. 30-year mortgages are now a standard product, and many buyers are taking advantage of this style of mortgage. Having more time to pay off a mortgage helps a buyer find a more affordable mortgage, as the monthly payments are lower. Of course, the overall amount paid off is higher due to the more extended time frame. Still, when it comes to making a monthly mortgage payment, a more extended period is of benefit for many home buyers.
However, plans are in place to introduce a lifetime mortgage with an interest rate which stays the same for the entire mortgage. This may make a 25-year mortgage more attractive to some property buyers because it removes some of the uncertainty involved with mortgage payments. With a variable mortgage, there is a hope that interest rates will fall, and the homeowner can save money each month. Of course, the reality of the situation is interest rates fluctuate, and it would be unwise to assume changes will be positive for a homeowner.
With this backdrop, it is easy to see why many people hedge their bets and opt for a longer, yet more affordable mortgage. You don’t have to be risk-averse to seek out this style of a mortgage; the importance of home ownership is such that many people will make a cautious decision when it comes to arranging a mortgage.
Prime Minister Boris Johnson has pledged to introduce mortgages which can be arranged with a deposit of just 5%. The home buyer would then sign up for a lifetime mortgage, of 25 or 30 years, and the rate wouldn’t change over the lifetime of the mortgage. The Center for Policy Studies (CPS) think tank has backed this proposal.
There is no denying there is a home ownership crisis in the United Kingdom. There is a need to provide solutions which assist people in stepping on to the property ladder, and the CPS has issued a report on this matter.
In the conclusions, the author of the report states long-term fixed-rate mortgages are an easy solution. Graham Edwards says; “Owning your own home is a near universal aspiration in the UK, yet owner occupation has been declining in recent years. I think we have an obligation to try to help the younger generation get on the property ladder. I hope that my proposals will help many people do just that.”
The report argues 5% is an affordable deposit in reach of many first-time buyers. The report also claims the fixed nature of the mortgage provides confidence for home buyers, and it dispels some of the fears and concerns buyers, and lenders, have about arranging a mortgage.
While buyers think tanks and the Government will see the positive side of this style of mortgage, will mortgage lenders? Lenders need to make commercial decisions. There is an argument that says bringing in more clients and receiving more money over a longer time frame is enough incentive for lenders to comply. Still, if it was so appealing for lenders, this style of mortgage would already be available.
However, there is optimism additional support is being made available for home buyers, and more mortgage offers may be made available. Anyone looking to arrange a mortgage in 2020 would be advised to stay in touch with the latest developments.
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.