We get loads of questions about mortgages so we thought we’d ask an expert, Anthony Emmerson, Director at mortgage broker Trinity Financial. Whether you’re getting a mortgage for the first time or looking to remortgage, what should you look out for?
If you want to ask Anthony any questions about your mortgage you can email: hello@trinityfinancial.co.uk
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Chapters:
00:00 – Intro
00:19 – What is the most common mistake first-time buyers make?
02:57 – What are the lenders’ criteria?
04:59 – How to get the best deal if you are self-employed
07:12 – What can stop you getting a mortgage?
09:20 – How to pick a good mortgage broker
12:04 – Tide ad
13:04 – The problems with a 99% mortgage
18:50 – Capital repayment vs Interest only mortgage
24:22 – How long should you lock in your mortgage for?
31:29 – Vanta ad
32:24 – Why don’t we have 30 year fixed rate mortgages?
35:23 – Why the Bank of England doesn’t control the interest rate you get
37:35 – What to do if you are coming off a fixed-rate mortgage
41:44 – Should you change your mortgage lender?
45:55 – How to get the deposit you need?
49:52 – What is the average age of a first-time buyer
50:36 – Predictions for the property market
53:10 – Sign up to our newsletter
29 Comments
If you want to get in touch with Anthony, you can contact him at: hello@trinityfinancial.co.uk
This episode was recorded in September 2024. The rates and other figures we mention may have changed since then.
I got charged a flipping fee and didn't even take the mortgage out shocking
My Dad in Florida had a 30yr fixed rate at 2% 😊.
Brilliant guest, enjoyed that .
This episodes is FULL of gems, thankyou!
11:00 If the bank is paying the fee then he is not advicing the borrowers he is just selling morgages for the bank.
You can't even get a viewing without a mortgage in principle. I don't understand how anyone could go into this without the finance first. I've never met anyone in this group and I don't know how you could enter it.
Misleading answers to the question about 30-year fixes in the UK. Perenna offers fixed rates for up to 40 years with only 5 years early repayment charge. They also offer porting the mortgage and generally encourage to remortgage if the rate favours the consumer. Brokers advise consumers to take 2-year fixes because they get paid every time they arrange a mortgage. But look at the situation that advice has created for consumers over the past couple of years with massive rate cost increases. Most people are better off opting for protection against rate risk than selecting the cheapest short-term rates.
This is the type of video that should be taught in schools
"Mortage rates going down instead of up".
Damn that didnt take long to age poorly.
If only you were taught financial literacy at school eh?
Credit scores
Interest rates
Credit cards
Loans
Mortgages
Pensions
If only you were taught financial literacy at school eh?
Credit scores
Interest rates
Credit cards
Loans
Mortgages
Pensions
Haha we used one of his broker before and he was brilliant! Completely came across this company by random by googling. No recommendation what so ever and the broker was one of the best brokers we have used.
The things that boils my piss about mortgage is the bank agree to lend money, you spend it, then 5 years later they want to review the interest on the money they’ve already lent and you’ve spent. The initial rate should be for the lifetime of the mortgage. If rates go down, then remortgage and pay off the original mortgage.
I keep hearing 'interest rates are moving downwards' in this video.
Yeah, they have. Is it really likely that they're going to go much lower? No.
Is there plenty of reason (e.g. inflation rising, Labour's policies over the next 5 years and the state of the economy generally, the obvious impact of Trump doing even half of what he says he will….) to think that they may begin to rise again fairly soon.
As a dual citizen and owner the US products are better. A two year term correlates with changing a car. Not changing where you live. The UK lending model is essentially greedier and relies on less financially literate buyers.
Supply and demand there are more homes for sale today then ever b4 houses market is screwed I understand this guest whole business is riding on the housing market and when prices go up his job is easy. please don't over pay!
Amazing video very informative thankyou new subscriber
What is still a mystery to me is what's best in this scenario: You are remortgaging with the same lender after your current fixed rate period ends, should you go with their valuation of your property [residential in this case] or pay for an official valuation?.
the value of your house affects how much your lender is going to lend you. Traditionally, they always UNDER value your property by a huuuuuuge mile, I think we got shafted by our current lender because we accepted their valuation of our property.
Myself and my girlfriend bought our house 5 years ago for 218k . We put 5% down and now have 88k left on it on a 1.1% fixed rate until 2027. We will easily pay the whole house off and have the remaining money invested ready.
We were offered at the time a loan up to 410k. It we wanted to live below our means as we were literally buying a house with such little interest. Best thing we ever did.
This was so useful!
So the guy who's a mortgage broker says the 1st thing you need to do is find a mortgage broker. I'm shocked. All the information is there if you want to DIY, you do not NEED a mortgage broker if you're prepared to do some research.
4.07% from tide is ok, I can beat that in accounts we provide for businesses.
New listener, fantastic podcast. Asked on point questions, but also shut up and let the guy speak, really informative, well played. Subscribed
5:50 – you might want to cool it on the tax avoidance for a year, so you can get a bigger mortgage. 😂
I get the feeling he doesn’t know what self employed means.
Default 5/6 years ago still affects you ?
Thats a dream that salary in london are higher than other parts of the UK that’s lie not everyone or should I say only 25% gets higher salary others are still on low income in london
My mortgage was 102%. "Bank of Mam and Dad still has a lot of money to distribute down." In what world?