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We can help you choose the right Tyne-and-Wear mortgage to suit your needs.
Take a look at the variety of products we have access to from
our range of lenders.
Tyne-and-Wear Discount mortgages
A discount mortgage allows you to
significantly reduce your monthly mortgage payments and helps
ease you into your new mortgage. It works by offering a
percentage discount off the lender’s standard rate for an
initial period of the mortgage. Once that period is over, the
interest rate will revert back to the lender’s standard variable
rate.
Tyne-and-Wear Fixed rate mortgages
A fixed rate mortgages allows you to
know exactly where you stand with your mortgage payments every
month. It works by offering fixed rate of interest for a
specified period of time. After the set period, the rate will
revert to the lender’s standard variable rate.
Tyne-and-Wear Tracker mortgages
A tracker mortgage tracks for a set
period of time, the rate you pay moves directly in line with
either the Bank of England or LIBOR rate. At the end of the set
period, the lender’s standard variable rate will generally
apply.
Tyne-and-Wear Variable rate mortgages
A variable rate mortgage is where the
interest rate is not fixed, but rises and falls in line with
changes in interest rates in the economy as a whole and
specifically the lender’s standard variable rate.
Mortgage and remortgage questions and answers
Q: Why should I use Compass Finance to
arrange my mortgage?
A: Compass have years of experience dealing with
every type of application. They will give you genuine and honest advice
about the different schemes and options available to you. Unlike many
other brokers they fully package for most lenders. This means they instruct
all references and valuations, obtain all documents and information then
submit a full pack to your lender.
Not only is this quicker, but they will only submit your application
when they know it will be accepted. This greatly increases your chance of
a "mortgage offer" compared with brokers who allow the lender to obtain
all the references etc. Because of the high volume of applications they
receive, their staff have a better understanding of what their lenders will
accept. They also develop good relationships with senior staff at the
lenders to "negotiate" applications which might be outside the normal
criteria.
Because they put 100% effort into helping you and communicate frankly
about your options, they are now one of the fastest growing brokers in the
UK.
Q: Should I tell you if I have
arrears or credit problems?
A: Yes, remember they are your broker not the lender.
Always tell them everything good and bad, it usually comes out in the end
and this may result in time being lost. There is a mortgage plan for
everyone but please tell them the facts about past credit problems as
early as possible.
Q: Should I tell you what the money is
really for? A: You could be looking to make home improvements,
consolidate your payments into one manageable amount by increasing the
term, buy a new car, or pay for your child's wedding - it doesn't matter
to us. But it may matter to the lender you borrow from. Remember - they
are your broker. You must tell them everything good and bad and they will
decide which lender to use.
Q: How do I know you will get me the best
deal? A: Compass Finance group's company policy is to always complete the best
mortgage plan available. Whilst they are processing your mortgage, should
the valuation report show more equity in your property or the mortgage
reference shows less arrears etc they will re-issue the mortgage on a
cheaper plan if it fits. All they ask is you clearly outline your current
status and objectives. If they are not 100% sure the lender will grant the
mortgage they will tell you. They will always try to get you the best terms.
Q: What happens if I change my mind? A: Should you change your mind all your paperwork
will be returned and the file will be closed. You will not be charged a
Broker fee, but you may incur costs if solicitors have been instructed.
Q: How long does it take to arrange? A: This is dependent on the circumstances of your
application as each application is different, they will endeavour to
complete your application as soon as possible.
Q: How much can I borrow? What rates are
available? A: How much you can borrow and the rates available
to you are dependent on your individual circumstances.
They have access to a number of lenders so will be able to find the
best rate possible from that lender panel.
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Complete
Finance
Whether
you're looking for a secured loan to consolidate your debts,
a remortgage to reduce your outgoings or make home
improvements, a debt management plan to freeze
the interest on your current credit and stop charges, or an
IVA to free you of all debt over 5 years, just call this
number and one of our qualified advisers will be there to
help you 
Tyne-and-Wear MORTGAGES and REMORTGAGES
