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A Mortgage Suitability Report (also referred to as a Suitability Letter) is a report that contains confirmation and details of a Mortgage Brokers advice and recommendation on a suitable Mortgage product to a customer who has indicated that they wish to proceed with an application for mortgage funding after receiving a recommendation from the Mortgage Broker.
This page takes a more detailed look at the Mortgage Suitability Letter / Suitability Report, together with details of the Mortgage Suitability Reports we provide and how we can help with a Mortgage or Remortgage even in the trickiest of circumstances!
Table of Contents:
So, what is a Suitability Letter / Report exactly? Well, once Shire Direct have established your circumstances, needs, requirements and aspirations, we will usually be in a position to provide you with advice and a recommendation on a suitable product.
If you have agreed with our recommendation, and have indicated that you would like us to proceed with an application for mortgage funding, we will confirm the details of our advice and recommendation in a document called a Suitability Report, sometimes referred to as a Suitability Letter.
Although some mortgage recommendations can be complex, it is our policy to ensure the content of our Suitability Report is laid out in an easy to understand, and plain language, and will contain confirmation of our dealings with you and the information we have provided in the following sections:
We aim to post this document to you within 5 business days of our recommendation, and no longer than 10 business days in the event of any delays
So if you would like more information on the home buying process and the services we provide including our Mortgage and Insurance products, then we'd be delighted to hear from you.
Shire Direct is authorised and regulated by the Financial Services Authority, and we will provide you with advice and a recommendation on a mortgage product drawn from our extensive portfolio of lenders and plans contained within our lender panels that are designed to cover your requirements, needs and aspirations - whatever your circumstances!
As you have probably discovered, today's mortgage marketplace is extremely complex, and you might be finding that choosing just the right product for you can be a daunting and overwhelming task.
That's where Shire Direct can really help! Our lender panels are geared to provide a comprehensive selection to enable us to be able to provide the most appropriate scheme for you.
We are confident that you will find our approach to be both pragmatic and slick. We'll provide you with a rapid in-principle decision, and we work closely together with the Mortgage Lender, Solicitor and the property valuer to ensure we achieve a suitable offer of mortgage as quickly as possible.
Arranging a mortgage, and more importantly the right mortgage is vital! So here at Shire Direct, the first thing we do is get to understand your circumstances, needs, requirements and aspirations.
This will help us find the ideal mortgage product and solution tailor made to you. Afterall, your mortgage is usually the largest financial transaction you'll ever enter into, and getting it right from day one is crucial!
There's a vast array of different mortgage products in the marketplace these days to cover all kinds of possibilities, circumstances and requirements, and our lender panels provide our customers with a wealth of choice, including:
You are safe in the knowledge that all our mortgage advisors and senior managers here at Shire Direct are professionally qualified and undergo a regime of continual rigorous training in order to provide you with the best possible service and a recommendation on a mortgage product that will meet your needs and circumstances!
All our advisors and senior managers hold at least two of the following qualifications to ensure you receive top quality service and advice:
Our lender panels provide us with an extensive range of mortgage plans and schemes to accommodate most circumstances, including:
If you're looking for more information on our available Mortgage help, and a rapid in principle decision on a mortgage, why not get in touch with us!
You can call us on Freephone 08000 282 281 (lines open daily from 8am to 10pm - including weekends), where you will find a warm welcome awaits you! We're also sure you will find us to be friendly, professional, helpful and not at all stuffy. We have the approach, the skills and the products to help even in the trickiest of circumstances. You can also enquire online at any time, it's both quick and easy to do, and we'd love to hear from you!
We'll carefully assess your circumstances, needs requirements and aspirations, so that we come up with just the right mortgage for you!
That wraps up our look at the Mortgage Suitability Report, we hope you have found it useful and are now more aware of how we can help you. Don't forget you'll also find masses more useful mortgage related information throughout the pages of this site, and that we're only ever a free telephone call or couple of mouse clicks away!
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!
Over £2,000 worth of Argos Vouchers to be won in the Shire Direct Grand Prize Draw 2008! Terms and conditions apply - please read article for full details.
Claim £100 worth of Argos Vouchers upon completion of your transaction throughout 2008. Terms and conditions apply - see our Vouchers Special Offer page for full details.
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.
