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Mr & Mrs M., Leeds, West Yorkshire
Most high street banks these days not only have the usual banking services like personal current and savings accounts, business banking, commercial lending and personal loans, but since 1986, will usually have a mortgage division that offer a range of home loan products to assist their prime customers with house purchase and remortgages together with related insurance products.
Here we take a look at High Street Banks and their place in today's mortgage marketplace and explain how we may be able to help with mortgage funding where a High Street Bank may not be able to!
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So as we discussed in the introduction, most High Street Banks nowadays also have their own Mortgage divisions that offer a range of mortgage products to assist their prime customers with house purchase, remortgages and related insurance products.
Of course, included in the list of high street banking outlets are many of the former building societies that converted to banking status under the provisions of the Financial Service Act 1986. Former building societies that are influential in today's marketplace include Halifax, Abbey, Alliance and Leicester, and Northern Rock, whilst still in the mix are former societies that were purchased by the big five banks, like the Woolwich which were purchased by Barclays Bank, and Cheltenham & Gloucester that was acquired by Lloyds TSB. Other banks set up their own mortgage companies, and these included NatWest Home Loans and HSBC's First Direct.
Without question, the introduction of banking corporations into the mortgage market over the past two decades, has created a huge and fiercely competitive arena.
However, that is only part of the story.
Although the entrance of the high street banks into mortgages has meant a significant increase in choice and innovation, most have only serviced prime customers, and have tended to steer away from the non-conforming sector of the marketplace, choosing to avoid applicants having an adverse credit history, or those self-employed borrowers who have been unable to provide the type of accounting profile requested by strict underwriting parameters.
Choice - that's why!
Here at Shire Direct we have geared our lending portfolio panels to accommodate all types of circumstances, as well as having a wide variety of lenders, including high street banks, building societies and specialist lenders, providing an "all-circumstances" range of mortgage plans.
So, you'll have the benefit of a dedicated mortgage specialist working for you, and unlike many of the high street institutions, we'll consider all types of circumstances and requirements. That saves you the spadework and your shoe leather!
Remember our qualified mortgage advisors are able to discuss the options open to you. Naturally, we'll carefully assess your circumstances, needs, requirements and aspirations and come up with the most appropriate and suitable solution for you.
You will find our service to be friendly yet professional, helpful and not the least bit stuffy! So please don't hesitate to contact us if you would like to discuss your requirements, without any obligation of course!
Our mortgage specialists are available on Freephone 08000 282 281 everyday (including weekends) from 8am until 10pm, and await your call with a warm welcome. Alternatively, why not enquire online right now, it's both quick and easy. In either instance we'll be delighted to provide you with a rapid in-principle decision - whatever your circumstances.
So, that's our look at High Street Banks and their role in today's mortgage marketplace, and how we can help where a high street bank may not be able to. Don't forget there is a wealth of information throughout our website, so why not take ten minutes out and explore the possibilities, and if you do feel we can be of assistance, bear in mind we're only ever a freephone call or a couple of mouse clicks away and would love to hear from you!
The overall cost for comparison is 9.8% APR.
The actual rate available will depend upon your circumstances. Ask for a personalised illustration. APR variable and based on a usual case. Most customers are likely to receive a lower rate or the same rate as our overall cost for comparison rate - learn more about APR.
There are no upfront broker fees.
However, a fee may be charged on successful completion. An indication is that on conforming cases (straightforward applications with no or minimal adverse credit) a fee may be charged of up to 1% of the amount advanced, typically £795 and will depend on your circumstances.
For non-conforming cases (where case research and processing may be more complex due to adverse credit or unusual circumstances), a fee may be charged of up to 3% of the amount advanced, typically £1,995.
THINK CAREFULLY BEFORE
SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED
IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Adding existing debt to your mortgage will increase the repayment term and overall cost.
Are you worried and becoming stressed because you are having problems getting a mortgage or remortgage? Worry and stress no more! Here at Shire Direct we provide tailor made mortgage solutions to suit you, and can usually help with all kinds of circumstances including...
Remember, we're here to help, and would love to hear from you!
Shire Direct and Shire Direct Mortgages are trading styles of Shire Processing Centre Limited which is
Authorised and regulated by the Financial Services Authority in respect of regulated mortgage products and general insurances.
Registered No: 302389. Commercial funding and Secured Loans are not regulated by the FSA.
Licensed Credit Brokers. Consumer Credit Licence Number: 349999.
Shire Processing Centre Limited is registered under the provisions of the Data Protection Act by the Information Commissioners Office: Registration No: Z6795249. Registered in England & Wales. Company number: 2732202. Telephone calls may be recorded for training, monitoring and security purposes. All applicants must be aged 18-years or over.
