Mortgage Minefields Buying a house is probably going to be the most expensive thing you ever do in your life, so you need to get it right. Mary chats to Emma O’Neill, owner of Oundle and Stamford Mortgages about how to go about it
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offered. It certainly wasn’t necessarily the cheapest way of borrowing money, but there was little alternative. Today thankfully things are different. Yes, you can still go to your bank and ask for a mortgage, and many people still do. But many more of us probably now use a mortgage broker as they will find us the most suitable deal. That won’t necessarily always mean the cheapest interest rates as everyone’s circumstances are different. But a lower interest rate over a 30 year mortgage can save you thousands of pounds. mma O’Neill of Oundle and Stamford
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UYING A HOUSE is the ultimate dream for many people, usually after years of saving to be able to afford the deposit. But when do you know if you are in a position to buy one; can you afford it, will you get a mortgage, what can you afford and how on earth do you go about it? Years ago you would usually go cap in hand to your bank manager and ask for a mortgage. You would need a healthy current and savings account with the bank, probably for many years and then you would just take the mortgage rate you were
Mortgages knows all about houses and mortgages. She started out as a sales negotiator and when she bought her first property she had a really helpful mortgage advisor. ‘They were so helpful and explained everything to me so I wanted to find out more about the job as obviously it tied in with my role.’ She decided to train as a mortgage advisor, paying for the courses herself and then changed jobs to be a mortgage advisor spending four years in the role. In 201 she left to set up on her own and now has an o ce in Oundle and two staff. They are all mums ‘women can often be more sympathetic and empathetic so are often easier to talk to,’ says mma. Today mortgages can be a bit of a minefield as not all of us have ‘normal’ jobs where we are paid a set salary. Some people are paid commission so their salary differs every month, some are on zero hours contracts and, of course, there are the self employed. And those with credit rating anomalies can come up against problems too. Someone like mma can hold your hand throughout the whole house buying process, from start to finish. She prides herself on her customer service, her clients like her and use her again and recommend friends do too. ‘Word of mouth is the best way to grow
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