Ferriers Mortgage Services

18/07/2026

19/12/2025

New Year, New Home? 🏠🏘️🔑

🔑Whether it's your first home or moving to your next, before falling in love with a property, it always pays to be prepared and the best way to do this is to see an independent mortgage adviser (like me).
🔑Everyone's circumstances are different and lenders aren't one size fits all, I can navigate you through what can often be a bewildering process.
🔑Estate Agents don't usually accept an offer on a property without you having an Agreement in Principle (also known as a Decision in Principle or Mortgage Promise) in place. Once a potential lender has been identified, an Agreement in Principle can be submitted on your behalf. As I am independent, you can use this with any estate agent.
🔑Get your documents in order. You'll need ID, proof of address, proof of income (e.g payslips, bank statements, tax returns if you're self employed, benefit statements).
🔑Your Deposit. Whether it's through savings, equity from selling an existing property or being gifted by a family member, you'll need evidence of this (the estate agents and solicitors will also need this)
🔑Working out your budget. Before going to see the property of your dreams, it makes sense to check that it's affordable and that you're comfortable with the repayments.
🔑Got any regular financial commitments? These can affect the amount you borrow, so we'll need to know about these as well.
🔑Worried that past mistakes with your credit may affect you? There are lenders that still may be able to consider you! Lenders all have their own criteria, don't be afraid to see whether it's a possibility to own your own home.
🔑What if it's not possible to get what you want? Well, it's not necessarily a wasted journey, sometimes identifying the issues means that a plan can be made going forward to fix them so we can reassess again at a future date - always try to look for the positives.
Got any questions? Call 01656 733023 or hit the Whatsapp button in the profile to make an appointment.

08/05/2025

🚨🚨🚨🚨The Bank of England have announced a further cut to the base rate from 4.5% to 4.25%. This is the fourth time the Bank has cut the rate since August 2024, when it fell from 5.25% to 5%. The last cut, from 4.75% to 4.5%, was in February 2025.

What it means for mortgages...

⭐️If you have a fixed rate of interest, there's no change for now. Regardless of what happens to the base rate, the amount you pay will not change during your fixed period. You can usually lock in a new rate three to six months ahead of your current deal ending.

⭐️If you're on a tracker mortgage that 'tracks' the base rate, you'll see your rate come down. This means a change to your monthly repayment within days or weeks, depending on when your next repayment is.

⭐️If you're on your lender's Standard Variable Rate or a Discounted Rate linked to their SVR, the rate you pay could also come down. SVRs can be changed by lenders in their own time, though normally it coincides with changes to the base rate.

Considering your first purchase or looking for a new mortgage deal? Some lenders have already begun making cuts to rates over the past few days, with more expected to follow, so if you're looking to buy your first home, move or refinance and not sure where to start, get in touch for a face to face chat about your options.

24/02/2025

𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐢𝐨𝐧 𝐝𝐚𝐲! - 𝐏𝐚𝐫𝐤 𝐒𝐭𝐫𝐞𝐞𝐭, 𝐌𝐚𝐞𝐬𝐭𝐞𝐠 📍

𝐂𝐨𝐧𝐠𝐫𝐚𝐭𝐮𝐥𝐚𝐭𝐢𝐨𝐧𝐬 𝐭𝐨 𝐛𝐨𝐭𝐡 𝐭𝐡𝐞 𝐬𝐞𝐥𝐥𝐞𝐫 𝐚𝐧𝐝 𝐭𝐡𝐞 𝐟𝐢𝐫𝐬𝐭 𝐭𝐢𝐦𝐞 𝐛𝐮𝐲𝐞𝐫𝐬! 😄

🤝🏼 We would also like to thank Sarah at Ferriers Financial Services for assisting our first time buyers with their mortgage application 👏🏼.

If you’re considering putting your property on the market, get in today touch for a free valuation.

We would love to work with you 🏡💙.

📞 01656 733291
📧 [email protected]
💻 www.ferrierhomes.co.uk

06/02/2025

📣📣📣🗞📰: The UK Bank of England base rate has been cut from 4.75% to 4.5% What does this mean for mortgages?

If you have a fixed interest rate, there will be no change to your interest rate or repayment until your fixed rate ends.
If you have a tracker rate, it will drop 0.25% points. This can take up to a month to take effect. The reduction is equivalent to £15 lower repayments per month per £100,000 of mortgage.

If you're in the process of applying for a mortgage/remortgage/rate switch which has not yet completed, there is a possibility that the rate secured may be reduced. I will be reviewing all active applications for my clients and comparing the rates secured against any new rates that may be released by mortgage lenders following the Bank of Englands announcement.

13/11/2024

Agreement in Principle - Frequently Asked Questions

What is an Agreement in Principle?
An Agreement in Principle, also know as a Mortgage in Principe, Decision in Principle or Mortgage Promise, is a written indication from a mortgage lender of how much you could potentially borrow.

Is it a guarantee that I'll get a mortgage?
No, an Agreement in Principle is not a guarantee that you'll be offered a mortgage loan. When a full mortgage application is submitted, a lender would look at your credit file and earnings in more detail before making a decision.

Do I really need one?
If you are looking at purchasing a property, having an Agreement in Principle shows estate agents and vendors that, in theory, you can afford to buy a property. Having a clear idea beforehand of what you could potentially afford can be helpful before starting to search for your dream home so you can look for properties within your budget.

Will it affect my credit score?
Most lenders do a 'soft search' at AIP stage which won't impact your credit score

How do I get an AIP?
Its best to sit down and have a face to face chat with a friendly mortgage adviser (like me) to go through different borrowing options and figures so you have a better idea of borrowing levels, monthly repayments and the deposit you'll need, along with other associated costs. The basic information required would be your personal details (name, D.O.B), 3 years address history, your income (employment, along with any other forms of income) and details of any existing credit (loans, credit cards etc) and other committed expenditure. A copy of your credit report from a site like www.checkmyfile.com www.experian.co.uk www.equifax.co.uk would also be useful.

What if I have past credit issues?
There are lenders that can consider borrowers who have County Court Judgements, Defaults etc depending on several factors. The more information you can give to your mortgage adviser if you've had past credit issues, the better it can help them to potentially find a lender that may consider you

How do I get in touch with you?
You can telephone the office on 01656 733023, or if texting is more your thing, select the Whatsapp button on the page, alternatively you can call into the office to make an appointment.

11/11/2024

The Base Rate change - What it means for you and your mortgage

Last Thursday, the 7th of November, the base rate was cut to 4.75% from 5% by the Bank of England. This is the second time this year that the Bank has cut the rate. Here's what you need to know:

If you have a Tracker mortgage, your monthly repayments could get cheaper by roughly £15 a month per £100,000

If you have a Standard Variable or Discounted rates, they should drop too but they don't have to go by the same amount.

If you have a Fixed rate mortgage, your repayments will not change. However, if you are approaching the end of your current deal in the next few months, the new rates that may be offered to you could be affected by the cut to the Base Rate.

Whether you are a First Time Buyer looking to take that first step onto the property ladder, a home owner looking to move home or an existing borrower approaching the end of your current deal with your mortgage lender and would like to go through the options available, get in touch by giving us a call on 01656 733023, or send us a text using the Whatsapp link.

07/11/2024

BASE RATE REDUCTION

The Bank of England have announced a 0.25% cut in the Base Rate to 4.75% from 5%. This is the second time this year that the Base Rate has been reduced, giving hope to homeowners both new and those approaching the end of their current deals.

Bank governor Andrew Bailey said rates were likely to "continue to fall gradually from here”, but cautioned they could not be cut "too quickly or by too much”.

For our clients who have mortgage applications in process, we will be keeping a close eye on any reductions to interest rates announced by lenders and will be in touch to review your products accordingly.