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Chris Towlson - Finance Advice Centre - Mortgages, Loans, Protection, Chatsworth House, Prime Business Centre, Raynesway, Derby (2026)

04/04/2024

I had been struggling for almost a year…

I had been struggling for almost a year to secure a mortgage, facing rejections from several lenders and brokers, until I met Chris Towlson from the Finance Advice Centre. Unlike the others, Chris brought a ray of hope and professionalism into my challenging journey. He meticulously worked through my financial situation, providing guidance and support at every step. His expertise and persistence paid off when he successfully secured a mortgage for me with a mainstream lender, something I had begun to think was impossible. Chris's dedication and commitment to his clients are truly exceptional. If you're in need of a mortgage and feel like you're out of options, I highly recommend reaching out to Chris Towlson at the Finance Advice Centre. He might just turn your situation around like he did mine.

Date of experience: April 03, 2024

04/03/2024

My broker at Finance Advice Centre was Chris Towlson. From my first consultation onwards, I found him extremely helpful, but at a difficult time in my life, he was also warm, sympathetic and engaging.

At a difficult time also in the financial market, I found it hard to know what mortgage product would work best for me and several times I changed my mind. Through all this Chris was patient and understanding and steered me towards the best Mortgage deal in these circumstances. My personal situation was quite complex, and Chris went beyond his brief in communicating with three other solicitors and conveyancers to sort out confusions, helping to avoid various possible hold-ups. He was also extremely responsive, getting back to me promptly, either by phone or email, so that I came to have great confidence in him.
In short, and overall, I cannot recommend him too highly and thank him greatly for his help and advice.
Sincerely.

26/01/2024

Another great review! This was for life assurance for a couple that are currently renting. You don't need a mortgage to think about life assurance, critical illness cover, or income protection. These products are for anyone that wishes to protect their finances from unforeseen events!

“Excellent service, really friendly, talked us through the process and got us a great product, would absolutely recommend and will use again !”

25/01/2024

"Chris has helped us through a number of challenging mortgage requests for a new project. Multiple mortgages completed and throughout the process, Chris was fantastic.

Super knowledgeable, extremely proactive and always with a smile! @100% recommend"

25/01/2024

What Is A Debt-To-Income Ratio?

When applying for a mortgage, lenders will assess your debt-to-income ratio, also known as DTI. This helps determine whether you can afford the monthly repayments.

The DTI compares your total monthly debt payments against your gross income. Lenders have different thresholds but typically accept DTIs around 35-45%. Those with higher ratios may find fewer lenders willing to lend.

If your DTI is above a lender's threshold, it can negatively impact your mortgage application. You may be able to improve your ratio by paying down debts before applying. Do check if early repayment charges apply. Reducing non-essential spending can also help demonstrate affordability.

While DTI is important in assessing mortgage eligibility, lenders do take a wider view across income, savings, credit history and existing financial commitments. Weighing up the overall affordability picture avoids good customers being unfairly declined.

If you have questions around debt-to-income ratios or improving your mortgage chances, do get in touch. We're happy to discuss your situation and provide tailored advice to suit your needs and circumstances.

At Finance Advice Centre we are whole of market. This means we can access every deal on the market & will recommend the most suitable one available to you.

Contact us today for your free mortgage consultation.

*As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments*
* Think carefully before securing other debts against your home*

10/01/2024

Another lovely review -

"Chris Towlson at Finance Advice Centre was amazing and I can't recommend him or this company enough. It was a very complex and difficult case and despite numerous issues for the lender and solicitors, Chris kept everything on track and we wouldn't have been able to complete without him. Great communication and problem solving as well as being a genuinely lovely person. "

19/11/2023

The Benefits of Using a Mortgage Broker

Are you considering buying a property or exploring mortgage options? Look no further – a professional mortgage broker can be your ticket to a smoother and more cost-effective home-buying experience. Here are some key benefits of opting for a mortgage broker's expertise:

• Expert Advice: Mortgage brokers possess an in-depth knowledge of the mortgage market. With access to a wide range of lenders, they can provide unbiased advice tailored to your specific financial situation and goals.

• Time-saving: Searching for the perfect mortgage deal can be time-consuming and overwhelming, especially when considering the plethora of available options.

• Access to Exclusive Deals: Mortgage brokers often have access to exclusive mortgage deals not readily available to the general public. These deals can include discounted interest rates, reduced fees, or special incentives. By leveraging their industry connections, brokers can potentially provide you with preferential terms that could save you money on your mortgage.

• Financial Protection: Brokers have a duty of care to act in your best interest, helping you navigate complex terms and conditions and ensuring you understand the mortgage contract before signing.

• Tailored Solutions: Everyone's financial situation is unique, and a mortgage broker recognises that. They can assess your individual circumstances and match you with a mortgage product that aligns with your specific needs and lifestyle.

• Streamlined Application Process: Applying for a mortgage can be a complicated, requiring extensive paperwork and communication with different lenders. A mortgage broker simplifies this process by handling paperwork, liaising with lenders, and coordinating the necessary documentation on your behalf.

At Finance Advice Centre we are whole of market. This means we can access every deal on the market & will recommend the most suitable one available to you.

Contact us today for your free mortgage consultation.

*As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments*

18/11/2023

As your fixed rate mortgage deal approaches its end date, it is important to start planning ahead to avoid potentially higher monthly payments. Around 3-6 months before your deal expires, speak to your mortgage lender or advisor about the options available.

You may be able to switch to a new fixed rate deal with your current lender. This allows you to lock in a new rate for a set period, providing certainty over monthly payments. Be aware that fixed rates on offer may differ from your previous deal, depending on market conditions. Early rate switching with your existing lender can avoid a temporary switch to their Standard Variable Rate.

Alternatively, you could remortgage to a new fixed rate deal by changing lender. This involves a new affordability assessment and can include valuation and legal fees, but could secure a lower overall rate than staying put.

If you miss the deadline to switch deals, your mortgage will automatically move onto your lender's Standard Variable Rate. This tracks the Bank of England base rate, but is set by each lender. Their SVR is usually higher than fixed rates, meaning your monthly payments are likely to increase. Staying on an SVR long-term is rarely advisable.

Planning ahead will help ensure you can switch to a new fixed deal and avoid higher SVR payments.

At Finance Advice Centre we are whole of market. This means we can access every deal on the market & will recommend the most suitable one available to you.

Contact us today for your free mortgage consultation.

*As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments*

17/11/2023

Saving for your first home can be challenging. Help to Buy ISAs and Lifetime ISAs (LISAs) are accounts designed to help first time buyers boost their deposit.

A Help to Buy ISA is a cash savings account that allows you to save up to £200 per month. For every £200 you save, the government will add 25% more up to a maximum bonus of £3,000. To benefit from a Help to Buy ISA you must be aged 16 or over and have never owned or part-owned a property in the UK or abroad. You can only open one Help to Buy ISA, but you can transfer savings from another ISA into it. Your home must be purchased with a mortgage. The bonus can only be used towards your first home valued up to £250,000 outside London or £450,000 inside London.

A Lifetime ISA works in a similar way but has a higher maximum contribution. You can save up to £4,000 per tax year and receive a 25% government bonus up to £1,000 annually. To be eligible you must be 18-40 years old when opening the account.

A key difference from Help to Buy ISAs is that Lifetime ISAs can be either cash savings or invested in stocks and shares. Cash typically offers lower risk and easy access, while stocks and shares bring potential for higher returns over the long term but values can fluctuate.

Both accounts can help first time buyers grow their deposit faster. Make sure to shop around for the best interest rates. The government bonuses are very appealing, just be mindful of the specific rules. Seek independent financial advice to determine which type of account best suits your homebuying goals and timeframe.

At Finance Advice Centre we are whole of market. This means we can access every deal on the market & will recommend the most suitable one available to you.

Contact us today for your free mortgage consultation.

*As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments*

16/11/2023

Deciding whether you need life insurance is an important financial consideration. While no one likes to think about the worst, having coverage in place can provide peace of mind that your loved ones will be financially supported if you pass away prematurely.

When assessing your needs, first think about any dependents and how they may be impacted if you were no longer around. For example, if you have young children, a partner who depends on your income, or elderly parents you care for, then life insurance can help continue providing for them.

Next, consider what debts need to be repaid or assets passed on if you die, like an outstanding mortgage or lifestyle wishes. Life insurance payouts allow beneficiaries to cover these costs.

Also weigh up what income needs replacing. For instance, some government benefits provide basic support for widows and children. But you may want extra funds so their lifestyle is not negatively affected.

While none of us know what the future holds, having a life insurance policy set up can be one way to gain peace of mind. It allows you to rest easy knowing your loved ones will be financially supported even if you're no longer around.

Contact us today for your protection insurance consultation.

15/11/2023

Curious about how your credit score affects your mortgage options? Let's break it down!

Your credit score plays a crucial role in securing the best mortgage deals.
It's like your financial report card, telling lenders how reliable you are with payments.

Tip 1: Pay bills on time. This is the golden rule! Late payments can reduce your score.

Tip 2: Keep credit card balances low. High balances relative to your credit limit can lower your score.

Tip 3: Avoid opening too many new credit accounts. It can make you look risky to lenders.

Tip 4: Check your credit report regularly for errors. Mistakes happen, and they can impact your score.

At Finance Advice Centre we are whole of market. This means we can access every deal on the market & will recommend the most suitable one available to you.

Contact us today for your free mortgage consultation.

*As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments*

14/11/2023

Looking to get onto the property ladder, it all starts with a deposit!

Saving for a deposit can seem daunting, but with the right strategy, it's achievable!

Here are some tips to get you started:
1 - Set a clear goal: Know how much you need for your home.
2 - Budget wisely: Cut back on non-essentials and save more.
3 - Open a dedicated savings account: Separate your deposit fund.
4 - Seek expert advice: We're here to guide you every step of the way!

At Finance Advice Centre we are whole of market. This means we can access every deal on the market & will recommend the most suitable one available to you.

Contact us today for your free mortgage consultation.

*As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments*

Chris Towlson - Finance Advice Centre - Mortgages, Loans, Protection

04/04/2024

04/03/2024

26/01/2024

25/01/2024

25/01/2024

10/01/2024

19/11/2023

18/11/2023

17/11/2023

16/11/2023

15/11/2023

14/11/2023

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