Mr and Mrs. Fincher Testimonial

Scenario: First Time Buyers

“In August my wife and I decided to start looking into buying our first family home. We have two young children and felt the time was right to get on the property ladder so to speak. At present we were renting which we felt was convenient at the time, but was costing us £850 per month, which in our minds could go towards a new mortgage. With this in mind, we looked on the internet for advice and approached Mortgage Services 4u in respect of how much we could borrow/afford.

The advisor was extremely helpful and we made an appointment for him to come round to our house so we could discuss these issues in the comfort of our home. We had approximately 15% deposit and really wanted to have a capital repayment mortgage, knowing that every month the capital on our house was being paid. The advisor came up with a few options for us, and it was just down to us to find our first property.

After a short while, we found the property we wanted to purchase in Whitstable worth £220,000, which needed some TLC and a few internal amendments to make it into our ideal home. We expressed this to our advisor and he found us a perfect mortgage which meant we could theoretically remortgage after the works were carried out (min 6 months), without penalty, and pay off the outstanding unsecured debt we would raise by doing this.

Everything was taking shape, and the great thing was that we could just leave everything in the capable hands of Mortgage Services 4u, knowing that they would handle our affairs until completion of the property of purchase. They called us to let us know of any progress throughout the purchase. They even arranged our home insurance and life assurance so we didn’t have to worry about that either!

That day came and we moved into our new house.

The works we wanted to carry out at the new property began almost immediately. By the time the new kitchen and bathroom was in, along with interior redesigning and decorating, we had borrowed approximately £28,500 of unsecured debts through a loan and credit cards. Our monthly mortgage payments were £1092 per month and our unsecured debts mounted to £539pm, totalling £1631pm. This was affordable but we felt we had equity in our house to remortgage and pay off these unsecured debts as first envisaged.

It was now 8 months after we first purchased our property and we wanted to remortgage in the view of paying off our outstanding unsecured debts we had raised. With this in mind, we contacted our advisor from Mortgage Services 4u, who again came round to our new house and went through some mortgage figures with us.

We advised him that our new house, with the improvements we had made was now potentially valued in excess of £260,000 according to local estate agents. With this in mind, our advisor considered all our unsecured debts, along with our existing mortgage, and a remortgage package was put in place which would cost us £1285pm, a saving of £346pm.

Six weeks after our remortgage application, we had completed on our new remortgage and paid off all our unsecured debts. It was as simple as that.

We both can’t stress enough just how helpful Mortgage Services 4u have been. They have not only saved us a great deal of money, but they have enabled us to create our perfect first home together and taken the stress out of everything. We will definitely be using all there services again.

Ps. We have just received a Christmas card from them too!”