Thank you for your interest in our mortgage service. Please complete the information request form below and one of our advisers will respond as soon as possible in normal working hours.
TISCO Financial Planning is a fully independent firm of chartered financial advisers and mortgage brokers based in St Albans, Hertfordshire. Our independent status means we work for you, our clients, and are not tied to any financial institution or mortgage lender. Our St Albans based advisers can therefore provide independent mortgage advice and find the best mortgage or remortgage deal for you from the whole market place after taking account of your personal circumstances.
We offer a free quotation and mortgage advice service – you can request a mortgage or re-mortgage or buy to let quotation here.
We understand that buying your house is one of the biggest financial decisions of your life so instead of asking you to answer a host of impersonal questions, we prefer to discuss your needs and priorities with you before providing any advice and recommending a suitable mortgage product. This can be just a quick chat on the phone or if you prefer, a face to face meeting at our offices in St Albans or elsewhere if mutually convenient. This initial conversation is always free and without obligation and we also offer a free mortgage assessment service so you can see how we may be able to help you buy that dream house or save you money with your re-mortgage.
Our experienced advisers do not believe you can find the right mortgage by ticking some boxes, looking at a few interest rates, and then making a decision based purely on the cheapest rate. This may well be right for some clients but often the cheapest rates are only available if you also meet a number of other criteria. For example there is no point in applying for a mortgage and completing application forms if the property is of non standard construction as many lenders will not loan money on this type of property.
With help and advice from a real person available at all stages of the process, our qualified advisers will consider the thousands of mortgage products available from hundreds of lenders, read the small print and expose any hidden fees before recommending a suitable one for you. We are able to offer our series nationwide if the case requires.
That said we do appreciate that some clients wish to get an idea of rates before going any further and for these reason we offer our free mortgage quotation service.
TISCO Financial Planning does not typically charge a fee for its mortgage service as most lenders pay a commission for our services as an intermediary. We may charge on a small number of cases if there are unusual circumstances but we will always fully disclose these to you and obtain your agreement if that is that case.
Your home may be repossessed if you do not keep up repayments on your mortgage. Buy to let mortgages are not regulated by the Financial Conduct Authority.
If you would like any further help or information on any aspect of mortgages or would like mortgage advice, please use the ‘contact us’ feature, or call our St Albans mortgage advisers on 01727 734040.
First Time Buyers
As house prices across the country have risen in recent years it has become increasingly difficult for first time buyers to get a foothold on the UK property market.
There are a number of government backed initiatives that can help first time buyers climb onto the property ladder and also a number of lenders that can better cater for those needing to borrow a high loan to value of their new home.
With everything in life, the first time can be daunting, and buying a home and applying for a mortgage for the first time is exciting but can also be challenging. Our specialist team have many years experience in guiding first time buyers through the mortgage maze and home buying process providing experienced advice every step of the way to make sure that the mortgage side of you new house purchase is as stress free for you as possible.
Typically you will want to know how much you can borrow, how much deposit you will need and of course what it will all cost. Our advisers will explain all of this to you and ensure you understand the different types of mortgage available before making a recommendation.
If you would like any further help or information on any aspect of mortgages, please use the ‘contact us’ feature, call us on 01727 734040 or feel free to make an appointment to visit us at our St Albans office.
Mortgages for home buyers
Moving house or buying a home is an exciting and sometimes challenging time.
Our experienced mortgage advisers offer a personal service to help ensure you get the right mortgage for your needs, chosen from the 1000’s of mortgages available on the market.
We can help you understand the different types of mortgage products and the options available which could save you time, effort and money.
As independent mortgage brokers we are not tied to any particular lender or bank. We can search through over 10,000 mortgages to filter out the right one for you.
We offer a free mortgage quotation service and initial phone or face to face mortgage consultation.
At the start of a mortgage term lenders will very often start off with an initial rate that will typically be agreed for a period of time. These can be in the form of fixed and tracker rate mortgages. These attractive options will typically finish after 2,3, 5 or even 10 years. Once this attractive rate has finished the rate that the borrower will pay almost always switches to the lenders standard variable rate. This variable rate is usually more expensive than the rate at the start of the mortgage. It is therefore crucial to review your mortgage at the end of the initial rate as it may be possible to remortgage at a more preferential rate.
There could be an early repayment charge on your current mortgage. This will quite often end at the same time as your initial discount or fixed rate. However, they can be in place for a short time after. It is important that you make sure these have ended, otherwise there could be added costs payable if you choose to remortgage.
It may also be possible for you to capital raise with a remortgage to improve your home or consolidate debt for example.
The trend towards people using buy to let mortgages has increased over the past few years and TISCO are well placed to help both landlords, with a portfolio of properties already in place, and people taking their first step into property investment.
The reason for people wanting to enter into the world of buy to let is that rental properties can be a very lucrative investment. Not only is there the possibility of the rent providing a good income but there is also the potential of a capital increase in the value of the property over time.
Buy to Let mortgages often have higher interest rates than residential mortgages with the lenders requiring a larger deposit, which can normally be expected to be around 25% of the property value.
Most lenders take a different approach to the lending requirements with buy to let mortgages and require that the proposed rental income will cover the mortgage payments, often with a monthly rent that is equivalent to 125% of the monthly mortgage repayments.
Please be aware that Buy to Let mortgages are not regulated by the Financial Conduct Authority.
It is recommended that financial advice is used before entering into such a contract. Please contact TISCO for any help in this area and other financial queries at our St Albans office on 01727 734040. Alternatively please feel free to book an appointment either face to face or over the phone using the appointments page. You can visit our main website to learn more about TISCO and the other service we provide at www.tisco.co.uk.
Life Insurance and Mortgage Protection
When taking out a mortgage it is compulsory to take out buildings insurance. While other insurances are not compulsory, they can be invaluable and many of our clients choose to take out life insurance and / or income protection insurance.
Life insurance is not a compulsory insurance, but most lenders would prefer to know that you have life insurance in place as this will effectively pay off your mortgage in the event of your death. It is also highly recommended, particularly if you have a partner or children or other dependents that could be disadvantaged on your death.
Selecting the correct kind of life insurance to suit your mortgage is important, as well as discussing options such as critical illness cover, or features which allow you to alter cover to adapt to your future needs.
A majority of our mortgage advisers are fully qualified financial advisers and will advise you on the most suitable policy for your mortgage needs, we can also advise on your other needs should you wish. We will also request illustrations from the whole of the market to ensure our recommendation represents the best value for money.
MPPI stands for Mortgage Payment Protection Insurance. It is not compulsory insurance but many lenders will urge you to take the cover out. The policy is designed to meet your mortgage payments should you be unable to work due to accident or sickness, and some also cover you against unemployment or redundancy. Typically they will start to pay one month after your employer stops paying you, for a maximum of 24 months.
Some client’s sleep very well knowing they have this cover, however, they are designed only to cover your mortgage payments. Whilst a mortgage payment is typically our clients biggest outgoing, it is not their only one and so an Income Protection policy may be more appropriate.
Instead of providing cover for a particular area, for example your mortgage, Income Protection is designed to pay you an income if you are unable to work through accident or sickness. It does not cover you for unemployment. However, the benefit is yours to do with as you wish not only to pay the mortgage. These policies are medically underwritten and will pay until death, employment or retirement if you have to make a claim. Please note that there is usually a deferred period before payment starts. This type of cover is surprisingly low cost and certainly gives peace of mind.
If you would like any further help or information, or an illustration to see how cost effective cover can be, please use the ‘contact us’ feature, call us on 01727 734040 or feel free to make an appointment to visit us at our St Albans office.