How can an independent mortgage broker help?
Obtaining a UK mortgage if you are a member of the Armed Forces should be easy and simple; however a lack of understanding on a number of issues means the majority of lenders and brokers are simply not able to help in the way that Seico Mortgages can.
Reasons why Seico help you secure the best mortgage
Gross vs Net Pay
The advisers at Seico understand you may have many deductions from your payslip due to your unique position. This can make it difficult when trying to obtain a mortgage, especially if your take-home pay (Net) is much less than your wages (Gross). When you come to take out a mortgage many banks/lenders/advisers would look at your final take home pay and base your borrowing on that rather than you Gross pay.
Some examples of deductions:
- Child maintenance order
- Repayment of amounts paid by your Service to pay a criminal fine on your behalf
- County or other court judgement or order
- Compensation for damage or loss to public or Service property
- Payments towards a Service generated fine
- Maintenance order for a spouse, civil partner or child
- Advances of pay
- Taxable overpayment of pay and allowances
- Non-taxable overpayment of pay and allowances
- Miscellaneous deductions
- Long Service Advance of Pay
By working closely with you to understand your income, Seico can take your Gross pay (your pay before deductions) to calculate how much you can borrow. This can often double the mortgage amount you are offered.
You work abroad but have family at home
- We understand that whilst you may be stationed abroad you may still have a family in the UK who need a permanent home owned by you.
- Seico advisors can talk to you about purchasing a property in the UK despite your income being paid abroad. There is no reason why you shouldn’t be able to buy your family a home to live in even though you are earning your income whilst being stationed abroad.
- Not all banks, lenders and advisers understand this so it is vital you speak to someone who has done this before; Seico advisers understand how this works and know exactly which lenders to approach on your behalf.
Buying a home for the future
You live in forces accommodation; within the UK or Abroad. It is expected as part of your position in the Armed Forces. However why should that mean that you are not able to buy a property now and rent it out until you are able to live in it?
Seico can advise you how to get on the property ladder with a property you can let out and also how to avoid having to pay the additional costs and interest rates that typically occur with Buy to Let mortgages.
- Seico work with lenders who specialise in helping members of the armed forces buy their first property whilst still living in forces accommodation; it is simply not right that you should have to pay more for a mortgage to buy your first property.
When you first speak with an adviser from Seico it is important that you get to know them and trust them to help you. Without having someone in your corner securing a mortgage buying a property can feel a very long way off; however with the right person looking after you the journey can be smooth, easy and even enjoyable.
- At Seico you will always speak with the same adviser from your first call until completion of your purchase. You will be able to form a relationship that allows you to ask whatever question you want to ask and have it answered instantly and with clarity and openness.
- This is simply the way we have been working for over 25 years and it is we believe what makes us unique in the market.
Call Seico now and find out for yourself 03330 432 340
Your home may be repossessed if you do not keep up repayments on your mortgage.
Please note we are not authorised to provide advice or arrange mortgage policies. If you wish to discuss your mortgage and/or receive advice we highly recommend Seico who is authorised and specialises within this area.
Seico Insurance & Mortgages Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register under reference 300024
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