Adverse Credit – Chapelgate Private Finance

Is mortgage advice worth it?

Colin Payne — Fri, 27 Jun 2025 07:46:37 +0000

Is mortgage advice worth it?

We think so. Take the stress out of homebuying with a qualified adviser.

Buying a house is one of the biggest financial commitments you can make and, for most of us, a mortgage is an essential way to get there. But the mortgage market can be complex, and the time and effort demanded by the homebuying process can be substantial.

Working with a qualified mortgage adviser can make things a lot easier. Here are five reasons to consider seeking mortgage advice.

They know the market

There’s a plethora of providers and products out there beyond the big high-street brands. But navigating the market is a mortgage adviser’s bread and butter. They’ll use their deep knowledge of different lenders and products to recommend the right mortgage for your situation, doing all the research so you don’t have to.

That can be especially valuable if your financial circumstances might limit your options, for example if you’re self-employed or have blips in your credit history. Mortgage advisers know which lenders are more comfortable taking on people in your situation, and they’ll help you adjust your finances to give you a better chance of meeting a lenders criteria.

They know what a good deal looks like

Low rate might seem like the most attractive option but other factors, like fees, loan conditions and the term, can have a substantial impact on the overall affordability of a mortgage.

An adviser will help you look beyond the headline rate and understand the total costs associated with a given product. That could save you thousands or even tens of thousands in the long run.

They do the hard work for you

Advisers do so much more than just find you a mortgage. They’ll help you complete your paperwork, liaise with solicitors and surveyors on your behalf and suggest other products to help boost your financial security.

You can do all this yourself if you wish, but support from a qualified adviser could alleviate a lot of the stress associated with buying a house, especially if it’s your first time.

They’re highly qualified

Our mortgage advisers are fully qualified and work to rigorous standards of excellence that ensure they provide fantastic service. They’re backed up by knowledgeable head office teams and they have a fantastic range of lenders and products to choose from. No matter your situation, they’ll find the right mortgage for you and make the homebuying process as smooth as possible.

Still not sure if advice is right for you? Contact one of our advisers today for a no-obligation chat about your mortgage needs.

YOUR HOME MAY BE REPOSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Chapelgate Private Finance is a trading name of Chapelgate Associates Ltd which is an appointed representative of Altura Mortgage Finance, which is authorised and regulated by the Financial Conduct Authority.

Your circumstances have changed – will you be able to re-mortgage?

Colin Payne — Thu, 18 May 2023 08:20:04 +0000

Busting re-mortgaging myths.

Your circumstances have changed – will you be able to re-mortgage?

We all know life doesn’t stay the same. Our jobs, our relationships, our financial circumstances, they all evolve over time. So, if our lives are constantly changing, why should our mortgage stay the same?

Your life may have completely altered since you last re-mortgaged. You might be earning more or less than before, earning from multiple sources, or become self-employed. You might even be looking to climb onto the property ladder as a first-time landlord.

Or you might be worried about how a County Court Judgement (CCJ) or past mortgage defaults might affect your credit rating, and your ability to re-mortgage this time round.

The good news is that help is at hand. With careful planning, and an in-depth review of your mortgage options, an expert mortgage adviser could help you secure a mortgage that fits your circumstances.

We’ve put together some common re-mortgaging myths below. If you think these might hold you back from securing a mortgage, think again – we might be able to help you find a mortgage for your specific situation.

Myth: you won’t be considered for a mortgage if you’re earning your income from multiple sources.

It could be overtime payments, earning commission or a bonus, returns from your investments or simply the fact that you’re working more than one job – it’s becoming less likely for people to earn their income from just one source. You may think that because your income doesn’t fit into a standard template, you won’t be able to find a mortgage. But this isn’t the case!

We have access to and can search the specialist market on your behalf. With our help, you may be able to find a mortgage as unique as you are.

Myth: if you’re self-employed, you have to wait three years or more before you can be considered for a mortgage.

That’s not always the case. With access to an exclusive panel of lenders, we can connect with specialists on your behalf. So don’t feel you’re automatically written off if you’ve been trading for just a year. It’s possible we can source a mortgage for you.

Myth: lenders will only accept buy-to-let mortgage applications if you already have a mortgage.

Often, first time buyers will take out a residential mortgage and change it to a buy-to-let mortgage, which builds up their credit rating. But while it helps to already have a mortgage in place, it’s not an absolute necessity. You may have never needed to take out a mortgage because you’re living with a partner or parents. Whatever your circumstances, don’t let them put you off. Speak to an adviser, as they can help you find the right lender and guide you through the mortgage process.

Myth: you won’t be able to get a mortgage if you’ve recently had a County Court Judgement (CCJ) or defaulted on your mortgage payments in the past.

Whilst it’s true this could affect your mortgage deal, there are specialist lenders out there that will look at your individual circumstances. Certain factors will be taken into consideration, such as how long ago the CCJ or default happened, or whether you’ve had any trouble with your finances since then. An expert adviser will be able to help you through the process, so while it may feel dauting, it’s absolutely doable!

Whoever you are, seeking advice is a good thing.

Whatever your situation, it makes sense to get a helping hand from a mortgage adviser. We look at all circumstances and have access to a wide range of mortgages: from those not on the market, to those that are only available from specialists and sometimes harder to track down. An expert in your corner can find a solution that’s completely tailored to your needs.

Ready to get started? Speak to an expert adviser today.

Call us on 020 7317 7311 or drop us an email on info@chapelgateprivatefinance.com

Why you should check your credit score

Colin Payne — Tue, 01 May 2018 22:05:00 +0000

Switch on the TV or look in the paper and you’ll see one of the largest credit agencies encouraging you to check your credit report. They’ll go as far as providing you with a credit score which is all important when securing any type of finance.

It is important to understand that there are things that you can do in order to improve your credit score but it is also very easy to have a false sense of security about your ‘excellent’ credit rating.

Ways of improving your credit score are to ensure that you are on the electoral roll and make sure that all of your financial commitments i.e credit cards/HP/loans are correctly registered.

Clearly in relation to a new mortgage you need to make sure that these commitments are up to date and that you have maintained monthly payments on a regular monthly basis. It is easy to be late on a credit card payment which will certainly impact on your chances of obtaining a mortgage so set up a direct debit for the minimum payment and pay extra where you can.

Credit cards that are running at their maximum credit limit also do not help you obtaining a mortgage as it may be an indication that you are living beyond your means.

The one issue I want to highlight is that of your actual address. For those living in a house or purpose built flat this is less of a problem but for the many that live in converted flats how the address is set up is of paramount importance.

I recently had such a client who for all intents and purposes was the sort of applicant lenders should have been falling over each other for to obtain the business, yet three lenders declined on credit score despite the client having an ‘excellent’ credit rating. The mortgage was placed but at less attractive rates and with a lender that didn’t credit score and could see the lending was highly unlikely to be problematic.

The reason this client was declined at credit score was simply because of the variances in the format of his address. Whilst he was on the electoral roll, he had an existing mortgage and a credit card all three addresses were slightly different. For example, 12a Smiths Road, could be:

Ground Floor Flat, 12 Smiths Road
Ground Floor Flat, 12a Smiths Road
12 Smiths Road

One of the key problems here is if the property is not registered on the Royal Mail database correctly then different providers including the local authority will ‘make up’ their own formats. Therefore when you apply for a mortgage and state your address is 12a Smiths Road, the lender may not be able to ascertain that you have a credit card or loan because they are registered at Ground Floor Flat, 12 Smiths Road and there you have a reason for a potential declined mortgage.

You would think if you could provide evidence to the new lender that you have a well maintained financial commitment that they would accept this but that is not the case. Underwriters should underwrite the risk but it is extremely rare for any underwriter to overrule what their own credit score states – lenders have become far too reliant on automation which whilst having huge benefits the example above is one of the disadvantages.

So don’t take a credit score with a credit reference agency as being a guarantee of obtaining finance, it is a guideline, an indication, nothing more.

The information on this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK, no representations are made as to whether the information is applicable or available in any other country which may have access to it.

Chapelgate Private Finance is a trade name of Chapelgate Associates Ltd which is an appointed representative of Altura Mortgage Finance, which is authorised and regulated by the Financial Conduct Authority. Chapelgate Associates Ltd is a company registered in England and Wales 05539901 whose registered office is situated at 192 West End Lane, London, NW6 1SG.