The value of our independent advice

10 September 2020

By Philip H Yates, Consultant: Mortgages & Equity Release

Our clients tell us that they really appreciate the value of our independence when we advise them on their mortgage planning.

The last few months have been strange and difficult for everyone. Throughout this period, we have continued to help our clients navigate through an ever-changing mortgage market, with additional lending criteria and increased deposit requirements.

Whether our clients are employed, self-employed or retired, being truly independent enables us to find a suitable mortgage lending solution to match their circumstances and requirements.

Currently, the property market is very busy – no doubt fueled by the latest stamp duty holiday – and lenders are dealing with increased volumes of mortgage applications which in turn is causing delays in processing. I think the reason that some lenders are currently seeking increased deposits is a way of temporarily reducing the flow of mortgage applications. However, this is not a situation I expect to last very long and soon lenders will be back to accepting 5 and 10 per cent deposits.

There are still lenders who continue to offer first-time mortgage schemes with help from “the bank of mum and dad”. Many of these products do not require a lump sum deposit as some schemes are designed to use equity from the parents’ house.

For clients who are looking for later life lending the interest rates are still at an all-time low and funds can be raised for various reasons including home improvements, gifts to children and grandchildren.  Many clients do not realise that later life lending can also be used to fund a home move such as moving to a bungalow – which is often more expensive than the family home.

Whatever your circumstances we will be pleased to speak to you. If you would like a free initial consultation to discuss your mortgage options please get in touch with our Independent Financial Services team on 01244 356 789 or email

Please note: This article is provided for information only and must not be considered as legal or financial advice. We always recommend that you seek independent advice before making any financial decisions.