Finance and mortgages

Finance and mortgages


Samson the professional estate agency can provide mortgage solutions, working with a team of mortgage providers to give you the best service and rates possible.

Finding a mortgage

Qualifying for a mortgage can be a complicated affair and some first-time buyers may find it daunting. It is important to choose the correct lender and not to pay a higher rate than necessary. This is where Samson will help you to achieve your targets.

That means that for some buyers, waiting to save more for a deposit can ultimately save many thousands of pounds on the annual mortgage bill.

By getting to know the process of how a mortgage works and what is required by the lenders, it is possible both to secure a lower interest rate and to increase the chances of being accepted for an appropriately sized loan.

A major difficulty with banks today is that they constantly change their lending criteria. To get a mortgage, applicants will need a good deposit, a clean credit history and a decent income.

For many first-time buyers the support of their parents may make the difference between getting a mortgage or not.

Deposits

The size of your deposit determines your monthly mortgage payments and the interest rate that you pay. Virtually all lenders use a loan-to-value banding system which means you pay much more if you have a smaller deposit.

We are consistently advising our clients in a position to save a bigger deposit to put down another 5% of the property value. This may be a lot to ask at a time when money is tight, but there are usually big savings to be made with another 5% added to the deposit.

Looking at the Post Office's mortgage rates, for example, the lowest two-year fixed rate they offer if you have a 10% deposit is 5.75%. Yet, with another 5% deposit, the mortgage rate drops to 4.29%.

So, over two years on a £200,000 interest-only mortgage, you would pay £5,840 less if you are able to save the extra 5% deposit.

Interest rate savings are more substantial with a longer term mortgage.

Our solution

We’ve teamed up with some of Britain’s leading Brokers. We have strong relationships with all the providers and will scour the market to find you the very best deal. Our team of brokers deal in all manner of products from first-time buyer to £multi-million portfolios and overseas mortgages. The guys also facilitate exclusive and often complex deals that can’t be found on the high street.

Call us now to speak

Help to Buy

help to buy

We’ve teamed up with some of Britain’s leading Brokers. We have strong relationships with all the providers and will scour the market to find you the very best deal. Our team of brokers deal in all manner of products from first-time buyer to £multi-million portfolios and overseas mortgages. The guys also facilitate exclusive and often complex deals that can’t be found on the high street.

The scheme aims to help both first time buyers and home movers who have deposits of at least 5% to buy a property in the UK.

So, if you can afford to repay a mortgage but don't have a large deposit, this scheme could be the answer. It gives you access to higher loan to value lending, meaning you won't have to wait and save up for a large deposit to buy or move home.

To be eligible for the Help to Buy: mortgage guarantee scheme:

  • It must be your main residence and only dwelling (you will not be intending to rent it out);
  • You cannot have an interest in any other property, anywhere in the world;
  • The mortgage must be taken out on repayment (not interest only); and The maximum loan size is £400,000
  • The scheme does not guarantee your mortgage payments. You are responsible for paying your mortgage under this scheme in exactly the same way as any other mortgage. The benefit to you is that it may enable you to get a mortgage to buy your home with a lower deposit.
  • A range of our fixed rate mortgage products are available under the Help to Buy: mortgage guarantee scheme for mortgages between 85% and 95% of the property value or purchase price.