Moving home?

Mortgage Free by Age 33!

November 7, 2011 5:26 pm
< Back to blog

Mortgage Free by Age 33!

Thornley Groves’ preferred partner offering mortgage services is Direct Mortgages Manchester L.L.P. providing independent and impartial advice in respect of your intended property purchase. The service offered is not typical of a high street Estate Agency.

A Case History

Mr & Miss X had seen their own bank for mortgage advice last week. They then decided to get an independent opinion from Thornley Groves  to confirm if they had the best rate across the whole of the market as they knew that their bank can only offer their own mortgage product range and cannot offer any advice to the client as to what product best suits them. The fixed rate they had was one of the lowest they could find; however, Thornley Groves’ preferred mortgage introducer, Direct Mortgages, looked at their overall situation and felt they needed to be on an offset mortgage instead. This rate was 0.75% higher; however, the amount of money they’d save if they followed his advice on this specialist product was that their 25 year term mortgage would be paid off in 7 ½ years (reducing the term by 17 ½ years). Their initial mortgage payment offered by their bank was £631pcm over 25 years. Removing 17 ½ years payments on this will have saved them approximately £132,500 in mortgage payments.

This proves it’s not always just down to rate as everyone thinks it is. The banks will usually want to make as much money out of their clients as possible. The role of Direct Mortgages, as independent advisers, is not only to look at rate, but also the overall picture and give clients full advice and recommendation, which the banks are unable to offer.

Not bad for first-time buyers in their twenties to know that they’ll be mortgage free by the time they’re age 33!

If you would like to take advantage of Thornley Groves’ preferred mortgage introducer, Direct Mortgages, please contact Chris Collins, the Mortgage Advisor by e-mail [email protected] or call him on 07809 690 080 to arrange a no obligation consultation in a Thornley Groves’ office conveniently located for you.

Your home may be repossessed if you do not keep up repayments on your mortgage. Think carefully before securing other debts against your property. Direct Mortgages are regulated by the Financial Services Authority, no. 303003.

A broker fee of up to 2% may be payable in certain circumstances. Typical fees are £699.00, payable only on successful completion of your mortgage.

Request your free property valuation!

You’re on the way to obtaining a FREE, no obligation valuation for selling or renting your property


Start my valuation >