Why A Specialist Mortgage Broker Is A Good Investment

specialist-mortgage-advisor

A specialist mortgage broker can save the buyer from a lot of effort and money. A mortgage broker has many advantages over buying a house on your own, in many cases. Firstly, the mortgage broker will do almost all the legwork for you, leaving you only needing to make one application.

Secondly, using a mortgage broker saves you the time and expense of researching the mortgage market for the type of mortgage you are looking for. Thirdly, using a mortgage broker means you won’t have to do much research, because they already know what they are looking for. Although the advantages of mortgage brokers are many, there are also some disadvantages.

The first advantage of using a mortgage broker is that they will usually be able to find you a suitable mortgage for your needs at a cost that is far cheaper than if you shopped for a property yourself.

Specialist brokers tend to access more lenders than you would do yourself, and so can often find better deals and terms than you would get yourself. This means that the mortgage broker might actually end up saving you money compared to if you chose your own lender. The other major advantage is that they have access to investment strategy advice, and in some cases investment strategy mortgages which the rest of us may not have.

These are mortgages, which are specifically designed for those people who are either already retired, self-employed, in irregular work or on a fixed income.

Another advantage of using a mortgage broker is that they have the ability to secure you a loan at the lowest rates available from the market. This means they are able to secure the best deal for your circumstances.

Usually this comes at a discount, allowing the mortgage broker to offer you a competitive rate. Some brokers will even agree to allow you to make an early repayment. This can really help you to spread your risk and secure the best deal for your circumstances without having to pay fees for entering into these types of agreements.

It is not just the financial benefits that make specialist mortgage brokers such a good option. They can also find you the cheapest quotes from some of the top UK lenders. These lenders normally have much larger investment portfolios than your average homeowner and are able to provide competitive rates on their products. This means that they will offer you the cheapest rate available, and this could save you hundreds of pounds on the interest repayments.

While a mortgage broker can help you secure the best mortgage deal possible, it is up to you to decide which one is the best for you. In order to do this you need to take into account what factors are important to you.

For example, if you want to secure the best deal but do not have a lot of knowledge of mortgages, then using an independent financial adviser is likely to be the best choice.

Independent financial advisers work for themselves and are paid for every single loan they secure. Because of this they have a very clear understanding of how the different aspects of lending work, and can make better choices for consumers.

However, just because a specialist mortgage broker works independently does not mean that they cannot be as successful as other lenders. Many lenders will offer deals to customers who sign up to their services and these are usually quite competitive. Therefore a specialist broker can compete with the big lenders and get you a better deal.

When choosing which lender to use, it is often worth paying a small up-front fee for a specialist mortgage broker. This is because brokers receive their commission from the leading lenders, so it stands to reason that a broker with years of experience will be able to find you the best deals. This is because brokers have access to lenders that are often too small to work with on their own.

The larger lenders will only be able to afford to invest in one or two specialist lenders, which limits their choices greatly. However, a broker can make use of these smaller lenders to get you a loan with much better terms and conditions than you would get by going with the main lenders.

Accountancy services for individuals

Accountancy services for individuals – what’s available?

If you’re wondering what kind of accountancy services for individuals are available, read on. A reputable accountancy firm can offer a host of accountancy services for individuals. They can support people and their families with their personal tax affairs and assist sole-traders and other individuals who need to complete self-assessment tax returns. These can include partners and directors.

What individual accountancy services are available?

A quality tax accountancy service can provide information and advice on topics like Capital Gains Tax, tax reliefs and inheritance tax. Other areas individuals commonly need assistance with include mortgage applications, dealing with HMRC investigations, HMRC registrations and investment tax obligations. If you’re based abroad but have business interests in the UK, they can help you understand UK tax legislation so you’re compliant with the country’s regulations.

Accountancy for sole traders

Sole traders seeking accountancy advice for individuals often need help with understanding and completing their tax returns. If there is a great deal of money going in and out of your business and you’re eager to avoid paying more tax than you’re legally obliged to, an accountancy service can help. They can complete a whole host of documents for you and even deal with HMRC on your behalf, ensuring your returns are presented accurately, clearly and professionally. Individuals with basic income sources can also ask for support from accountancy firms, as can people with complex business and financial arrangements, property portfolios and investment portfolios.

Choose the right accountancy service

It’s essential to choose an accountant that prepares your accounts in line with guidelines and remains fully up to date with what your obligations are. A reliable accountant may also help you identify valuable tax-saving opportunities without directing you to legally dubious schemes that could land you in hot water.

Becoming a limited company

If you are a sole trader that’s considered becoming a limited company, an accountant should help you make the right decision based on your specific circumstances. There are many advantages to transforming your business into a limited company, but this option is not for everyone. A dependable accountant will take a close look at your business to find out whether being a limited company is right for your enterprise. They will look at the difference between your current and potential take-home pay to help you reach an informed decision.

Fixed fee accounting services for individuals

Many individuals have benefitted from fixed-fee accounting services. The benefit of fixed-fee services is that you pay a flat rate each month so you’re never forking out for more than you need. You can always scale up and request more support as and when you need it. One company that offers a wide range of personal accountancy services is StriveX. This firm specialises in accounting services for business owners, individuals and startups. It offers a range of solutions including cloud-based accounting to help you remain fully up-to-date with your current financial situation and make the right business decision.

Contact StriveX today to find out more about accountancy services for individuals.

About the Author

This article was written by Strivex. Strivex are Reading accountants you can rely on. Strivex can offer clear and reliable financial guidance, whether you manage your own personal finances or the finances of a business.

Amaiz Offers The Most Cost Efficient Banking Services

Amaiz is a Fintech company based in the UK that launched its first banking service for entrepreneurs in the UK. While individual traders use a personal account for their business activities, it can cost more money to combine personal and trading activity, which is why it is much more practical to keep them separate, as it makes it easier to manage money flow.

Amaiz offers to maintain a business account, loaded with distinctive features and serves as a one-stop shop for business banking. It is a brand new app that was released in 2019, and it has all-in-one banking, invoicing, and accounting features.

Pricing of Amaiz

The pricing of Amaiz is really simple and low. The app starts you off a free trial in the advanced program they have developed by listening to several entrepreneurs. As their goal is to improve the daily banking for sole traders. As the situation change, the sole trader can choose the PAYG or monthly package that suits their needs best.

  • The free trial allows you to keep a business MasterCard, get instant notification, PIN reminders, and display the money flow on the app. Along with that, it also allows you to keep a separate jar sub account, freeze the account if the card gets stolen, the transition from web to the phone app without any hassle, send unlimited invoices, and 24/7 customer service.
  • Once you are satisfied with the services of Amaiz, you can set up your monthly up your account on the fee of £9.99. It provides the advanced services, along with self-assessment of tax payment if the trader has overspent.

Banking Service Features of Amaiz

Some of the banking service features provided by Amaiz are:

  • Payments and Account: It offers fast integrated banking solutions, such as a current account which is quick to set up, receiving a MasterCard, which makes managing and transferring the flow of money easier.
  • Managing Card: The Amaiz app not only gives instant notifications but also allows you to see instant PIN reminders. If your card goes missing, the app allows you to freeze your card, so it is not misused.
  • Controlling Money Flow: The app allows you to view your expenses and categorizes transactions where the sole trader may be spending a lot of money, in order to prepare him for the self-assessment of tax beforehand.
  • Direct Debit Management: The app allows you directly manage your debits or cancel any transactions if needed.
  • Invoicing Made Easier: The app offers customizable templates, sending numerous invoices, and also tracking them.
  • Second Separate Account: A second Jar sub account where the sole trader can retain funds for certain reasons, such as paying any taxes.
  • Accountancy Team: Availability of the accountancy team, which is always available for the sole traders if they have any questions regarding basic bookkeeping.

Final Word

Amaiz offers a free trial for solo entrepreneurs to test out if the app matches their needs. With a low monthly fee of £9.99, Amaiz offers all-in-one banking, invoicing, and accounting features.

Choosing a mortgage advisor

If you are looking for a mortgage, finding the one that suits you is likely to involve an array of choices. Repayment or interest-only? Fixed-term or variable?  And that’s before you’ve even considered how much you can borrow or the length of the mortgage.

 

To cut through any confusion and doubt, you might take the prudent decision to consult a mortgage advisor. But that, too, involves choosing one – so, how do you do it?

 

Confidence

 

When someone is advising you on such a significant financial decision as a mortgage, you need a high degree of trust and confidence in your advisor.

 

Your advisor will be making recommendations about the mortgages likely to be most suitable for you and, once you’ve given the go-ahead, may help to manage your mortgage application.

 

Regulation

 

To give you confidence in making such an important choice, always ensure that your mortgage advisor has the necessary authorisation, which must be granted by the Financial Conduct Authority (FCA), to practice as an independent financial advisor.

 

Regulation by the FCA helps to ensure that your advisor is fully up to date and properly equipped to offer suggestions and recommendations about your mortgage and that they continue to act in your own best financial interests.

 

If anything goes wrong with your mortgage application or, the loan that is arranged is unsuitable for your circumstances, you are protected by an ability to complain to the Financial Ombudsman about the advice you received from your mortgage broker. If your complaint is upheld, you may be entitled to compensation.

 

If you don’t seek advice

 

If you don’t seek the help of a mortgage advisor – also known as an independent mortgage broker – you are relying upon your own judgment only. That might result in an unsuitable application being rejected by the lender you choose. Meaning you will need to start the whole process again – as well as the lender potentially leaving a credit search on your credit file.

 

Alternatively, you might arrange a mortgage that is unsuitable for your financial circumstances – and leave you with the expensive, long-term consequences of your decision.

 

The specialist knowledge of a mortgage advisor

 

By consulting an independent mortgage broker, you also gain an inside track into the mortgage market.

 

At the very least, that gives you access to a much wider network of potential lenders than you are likely to identify using your own efforts alone.

 

Many mortgage advisors are aware of deals which are not generally available directly to the public – this may give you access to favourable terms and conditions which you might not otherwise find for yourself. By taking on a lot of the research and paperwork on your behalf, an independent mortgage broker is also likely to have the expertise and knowledge of knowing just those lenders with the greatest likelihood of accepting and approving your mortgage application.

 

Your circumstances

 

A mortgage advisor knows whether particular aspects of your circumstances or history might make getting a mortgage more difficult. If you have a poor credit history, for example, if you have previously settled County Court Judgments, if you are self-employed or still completing a probationary period in your job, these might all put off some lenders.

 

Your independent advisor, however, knows which lenders might still accept your application by matching your particular circumstances to his or her intimate knowledge of the available mortgage market.

 

Choosing a mortgage advisor is important. And while it may take a little time and effort to select a broker, once you do, you can feel confident that you are working with someone whose aim it is to find you the most appropriate mortgage deal for your own unique financial circumstances.

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