Moving advice KFH mortgage experts reveal how they help customers overcome the often tricky complexities of buy-to-let, help-to-buy and self-employed applications
he big high street mortgage lenders love a high-production TV advert to sell their products, whether it’s big showbiz names or troupes of flashy dancers. But away from all that razzmatazz, the reality is that 70% of home movers looking for a mortgage use a broker rather than going direct. Brokers are essential in today’s world when very few borrowers fit the ‘bog standard’ description and instead require expertise to get the best deal for their circumstances and kind of property. This is particularly true if you are a landlord, first time buyer or are selfemployed. These are the kinds of property buyers who need extra help navigating the mortgage approval process. Med Moroglu, who has worked in the financial industry for 16 years and at KFH for eight of them, is one of the star consultants within the company. “Every lender has a different set of criteria, which changes on a regular basis,” he says. “A good broker matches an applicant’s needs to the lender whose criteria fits their situation, so you need to be on the ball and know what’s happening.” Moroglu says Covid has impacted lenders’ risk appetite and consequently mortgage terms have been changing fast and furiously. For most customers, being able to track the 25,000+ changes during the bumpy months of 2020 was clearly going to be a challenge. He says that this has been particularly hard for selfemployed buyers. For example, one well-known high street bank now only offers them mortgages with 75% loan-tovalues – so knowing where else you look can be crucial. Lenders have seen self-employed workers as more likely to lose their income than employed staff during Covid, which is why some will only accept applicants with larger deposits. “But a big thing that’s changed for the good is that both the self-employed, contractors and those working through partnerships and other ‘non-standard’ jobs no longer need to track down a specialist broker,” says Moroglu.
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| Fred Abayeta Senior Mortgage Consultant
| Kerry Golding Senior Mortgage Consultant
| Med Moroglu Senior Mortgage Consultant
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“A good broker matches an applicant's needs to the lender whose criteria fits their situation, so you need to be on the ball and know what's happening”
LONDON PROPERTY MATTERS · kfh.co.uk
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28/03/2022 23:13
