Today, we usually feel like just another number when we walk into a bank or financial institution to apply for a loan. Each time you go you are met with yet another unfamiliar face. Thankfully it doesn’t have to be that way. The ‘good old days’ don’t have to be a thing of the past! This is where using a broker really is beneficial. Not all reasons have to be financial – they are also personal! Your broker is someone who will not only know you, but also stay in touch and be interested in you and your family. In many cases it is not only home loans that your broker can assist you with – many are also able to arrange personal loans, insurances, deposit bonds and other financial products. How much easier it is to pick up the phone, say hi and make an appointment with someone you know and can trust for all of your financial needs.
Fastest Way to Get a Loan
If you already own a small business or have started your own company, getting a commercial loan is relatively straightforward: make an appointment with a bank or financial group, and an agent processes that loan for you.
But the fastest way, however, is to go to your own bank or your company’s bank. The bank you currently have an account with already has a record of your financial background, and will require less paperwork from you. Even better, they may be more generous with an existing client. You can get a bigger loan than you would at any other institution, at less collateral.
Since the offset mortgage was reintroduced to the UK mortgage market in 2002 we have seen benefits such as the option to overpay, to drawdown overpayments and to use savings to reduce interest charges, this is particularly attractive to many high net worth individuals who typically have more complex financial arrangements and are more likely to have a range of accounts holding substantial amounts of cash. Clydesdale Bank have increased their offering to a ‘buy to let’ offset mortgage, which is great news for many landlords. For mortgage loans between £100k and £500k they are currently charging a variable rate plus a fixed one-time arrangement fee. There is a restriction of a maximum 80 per cent loan to value for repayment loans and 70 per cent loan to value for interest only loans. As many as six current accounts and savings accounts can be offset against a single loan amount.