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Your Trusted Mortgage Broker in London

Purchasing a house is a major investment that you shouldn’t take lightly. You need professionals in the real estate sector, and that includes a source of financing. London has multiple mortgage brokers that you can approach, but you should always make sure the one you choose has your interests first.

Your broker should also have enough knowledge to give you professional advice without taking advantage of you. At Certified Mortgage Brokers, we give our clients comprehensive services that will ensure you get the best deals in the real estate market.

We make your closing hassle-free

Closing a mortgage is a hectic process that can involve a lot of challenges. You should get a team of professionals that can handle different situations according to your specific needs. Our experts will ensure you get the loan you need, whether you’re buying a new house, a commercial property, or looking for a debt consolidation loan. Contact us today, and we will give you the best solution to your specific needs.

We help you find the best mortgage rates out there

We understand that buying a property requires a lot of money that you may not be able to handle on your own. The regulations surrounding property ownership in London have also made it more difficult for prospective property buyers to achieve their dreams. We are here to ensure you overcome any challenge by giving you the best mortgage deals and rates. Our professionals will help you understand the various conditions included in the mortgage you want. We also work with reputable lenders that will give you affordable terms.

We are experts at mortgage refinancing

Mortgage refinancing can be difficult because you have to repay your debts with your current assets. It means getting a new loan that consolidates all your previous debts, which is a complex process that involves money transfer and renewal of loan terms. The steps involved can be confusing, but we will help you understand them and determine the best process for your situation.

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We offer your personalized services

Every property owner has different needs and financial capabilities. Certified Mortgage Broker in London understands this and strives to understand the unique needs of every client before offering any service.

Some of the factors we consider when getting you a mortgage include terms of the loan, the mortgage fees, and the various rates involved. We will discuss the mortgage options with you and let you choose the perfect one.

We help you save time and money

Although you can always find a lender without the help of a broker, it is a time-consuming process that may end up being too expensive. Our company is here to ensure you get professional assistance and the best deals. We have a relationship with a lot of lenders, which means we bring a lot of options that you can compare and choose the most suitable one. We can also help you find a pre-approved mortgage if that is what you prefer. With our connection with lenders, you’re guaranteed to save a lot of time and money.

Google Reviews

Certified Mortgage Brokers
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Sean Hammond
2019-08-29

I had to port a mortgage to a new condo, Leon had excellent knowledge to get me through the approval process. When the bank made an error, Leon was quick to contact them to make sure everything was done right and on time. He is very professional and courteous and I recommend his service to anyone who wishes to apply for a mortgage.

Ronald McDonald
2019-08-27

Giving them 5/5 stars. Massoud helped me with my mortgage and he never missed a beat. He made the process very straightforward as a first time home buyer. Shopped around for other mortgages but he was always the first to get things for me. Highly recommend him

Shannon Jones
2019-08-23

I was looking to renew my mortgage and my previous lender was less than willing to do anything to keep my business. So I started to look for another brokerage to do business with and Certified Mortgage Broker stood out purely based on my interactions with Massoud. Massoud was professional and clearly had a keen sense of customer service; which I make a high priority when doing business with anyone since I'm in the customer service business myself. Peter rolled out the red carpet for me, walked me through my options, inquired about my plans with my current property, give me opinions and facts about rentals in the area, sales/purchases. In some respects he gave me more information about real estate than my real estate agent has!

Glen Plummer
2019-08-20

Selling and buying a home is a stressful experience and Leon with CMB in North York took all of the stress out of arranging the financing. He was very professional and clear about what I needed to provide to him. He used this information to arrange the best mortgage option on our new home, arranged the bridge loan to cover the closing period differential, and arranged closing out the mortgage with the previous lender.. Our experience with Leon is far better than the local in-person brokers that we contacted previously and Leon has helped us with a mortgage renewal in the past with the same excellent experience.

Colleen Power
2019-07-31

Leon returned my called from a missed call within 15 minutes of my call and I left no message. Leon and his team were fantastic. Even with the money issues we had Leon made me feel important and valued as a person.

Services we offer

First-time buyers

Getting your mortgage can be scary, yet most first-time property buyers need one. It is a big financial commitment that can have long-term repercussions in your life. You need experts that will prioritize your needs and help you make the best decision, and that is what Certified Mortgage Brokers in London does. We help our clients understand all the costs involved in property acquisition, including taxes and utility bills.

We recommend that you buy a property when you can handle all the expenses. Otherwise, the debts can become overwhelming, and the joyful property ownership journey becomes a very stressful one. We also advise first time buyers to get properties that will not take up more than 40% of their income. Our understanding of the mortgage industry allows us to help you plan for your current and future finances. You can count on us to help you make lifestyle changes that help you save a lot of money in the future.


Mortgage refinancing

One of the best ways of saving money and taking advantage of reduced interest rates is by getting mortgage refinancing. Whether the drop in interest rates is because of a drop in the market or your improved credit score, the reduction can save you a lot of money in the long-term. Our experts can help you take advantage of new loan terms that suit your current lifestyle and needs.

We will help you negotiate better terms that still allow you to pay the penalties and benefits. There are several options that you can choose from, such as breaking the mortgage, adding a new mortgage to your current one, and home equity line of credit. We will help you understand the benefits and disadvantages of each, to ensure you choose the best option.

Mortgage renewals

When you renew your mortgage, you get rid of your old mortgage terms and replace them with new ones. The old mortgage is paid off, and you get the opportunity to negotiate for better new terms. A mortgage renewal gives you a chance to get better terms and save more money. It also brings other benefits such as the chance to switch lenders and align the mortgage with financial capacity.

Some of the factors you must consider when you get a chance to renew your mortgage include the terms of the mortgage, variable or fixed interest rates, prepayment penalties, portability of the mortgage, and your financial situation. Our mortgage brokers know the cost of switching lenders and are in a better position to negotiate for better terms on your behalf.

Private mortgage

Unlike bank mortgages, private mortgages are easier to access, making them a great option if your bank denies you a loan. They are also a suitable option if you’re looking for a quick loan to take advantage of an investment opportunity. Through private lenders, you can get a quick solution if you are concerned about your credit score because they mostly focus on the value of the property you intend to use as collateral.

The private mortgage also gives up to 90% of the home equity. However, they charge higher interest rates than traditional banks, and their loans are short term, which is typically between 6 months to three years. Therefore, you should only consider getting such loans if you have a bad credit score, if you’re self-employed, if you need a consolidation loan, or if you have unconventional collateral that traditional lenders won’t accept. Contact our mortgage brokers today if you need a private mortgage.

Second mortgage

If you already have a mortgage, but you need money urgently, you can get a second mortgage. These types of mortgages have higher interest rates than first mortgages, but they are still a better way of getting funds for projects such as renovations, consolidation of unsecured debts, and other investments. Second mortgages are usually based on the value of the property, which means that you need to do property valuation before seeking such a loan.

Although most lenders give up to 90% of the home equity, they will ask for an appraisal that you must pay for. You’ll also be expected to cater to the closing costs. Since the second mortgage can offset the first one even if you default, they are riskier to the lender and are, therefore, interest-only loans. Certified Mortgage Brokers in London will connect you with the right private lender to ensure you get the best deals.

Self-employed (mortgages)

Getting a loan as a self-employed individual is one of the most challenging things, but it isn’t impossible. Having a predictable income is a requirement for most lenders, but most businesses thrive seasonally, which makes such predictability impossible. As a result, many lenders consider giving loans to self-employed borrowers riskier, and they will try to cover the risks through higher interest rates.

However, if you prove your income to the lender, they will treat you like every other employed borrower. You’ll need proof of business registration and your tax returns for the previous two years. With our brokers, you’ll find a mortgage lender willing to meet your circumstances.

Construction financing

A construction mortgage lender is usually the best option for those seeking to build their own properties. This type of mortgage is divided into completion mortgages, which are ideal for newly built houses, and progress draw mortgages, which are used to pay the construction company after every milestone they complete. With the latter, the lender sends an inspector to assess the progress made before making the payment.

Due to the nature of the payment, this type of mortgage is one of the most complicated processes. You’ll have to give the lender the plan of the building, completion timeline, and the other bills. Additionally, you’ll have to make a lump sum down payment, which makes this a riskier mortgage option for you. The lender also takes risks because of the uncertainties in the construction process. Given the risks you’ll be taking, you should work with professional brokers that understand the process and will help you minimize the risks.

HELOC

If you already own a home, then a Home Equity Line of Credit is a mortgage you can consider. This type of loan gives you more flexibility by allowing you to pay the interest until you can afford to pay the capital. With HELOC, you can also borrow the principal after you pay it, and you get to pay lower interest because of the secure nature of the loan.

You can get this mortgage to offset some of your personal or credit card loans, and you won’t have to worry about increasing interest rates as they are calculated daily. On the downside, daily calculation of interests means that they may increase rapidly, thereby forcing the rates up. The best way of getting the best deals with HELOC is by considering multiple lenders. The professional brokers from our company will help you negotiate better terms that will save you a lot of money.

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Frequently Asked Questions About Your London Mortgage

What is a mortgage?

A mortgage is a type of loan you get when you have a property, or you intend to buy a property. The agreement is usually between you and a mortgage provider, and it includes details such as principal loan amount, payable interest, and payment plan.

As a borrower, you’ll give a lender collateral that serves as security when you fail to keep up with payments.

What are the benefits of a pre-approved mortgage?

The main benefit of a pre-approved mortgage is the simplicity and quickness process. The lender will require your credit rating as well as your financial information to determine the amount you can borrow. This process saves you time by letting you know the amount you can afford. It also shows you the ideal monthly payment amount, thereby allowing you to budget efficiently. The pre-approval process also has no obligations, which means you can decline the offer without incurring any costs.

Terms you should know when closing a mortgage

Popular terms used when closing a mortgage include:

  • Loan to Value Ratio: This is the mortgage amount versus the property value
  • Mortgage Term: The mortgage term is the duration of your loan agreement. You can always renew your loan term or look for a new mortgage lender
  • Mortgage Loan Insurance: If you make a down payment that is less than 20% of the price, then you’ll need mortgage loan insurance. The amount you borrow determines the insurance cost
  • Property Transfer Tax: This is the tax required when one property owner transfers the property to a new owner
  • Appraisal and Inspection Fee: An appraisal is an evaluation done to determine the value of the property, while the home inspection fee is the amount you pay for an assessment of the integrity of the house
  • Down Payment and Deposit: The down payment is the percentage of the price of the property you have to pay from your own pocket. The deposit is the amount you pay to secure the property
  • Prepayment Option: This is an option used to make early specific payments. Some of the options have penalties, but others don’t

What mortgage payment choices do I have?

Mortgages usually have two main payment plans such as:

  • Open Payment Plan: This plan allows you to make payments at any point during the loan term without incurring any penalty. Because of this, they have shorter payment terms that range between six months to three years. Interest rates vary, but they are higher than in closed plans.
  • Closed Plan: This plan isn’t as flexible as the open plan, but they have lower interest rates. You can also make lump-sum payments, but completing the payment before time may result in penalties.

Fixed vs. variable rates

As the name suggests, fixed interest rates don’t change during the term of the loan. They offer more stability by letting you know the exact monthly payments you need to make, but they are higher. As such, they are mostly suitable for borrowers on a tight budget.Variable interest rates, on the other hand, change with the prime rate. They are lower than fixed rates, but the uncertainty can be stressful.

How much do I need for the down payment?

The down payment requirement in London is 20% of the price of the property. However, first-time homebuyers are usually expected to pay at least 25% of the cost of the property. It’s important to remember that the more you pay, the lower your interest will be.

Certified Mortgage Brokers in London are here to answer all your questions. Feel free to contact us for more information.

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