It always surprises me when members of the public arrange their own mortgage.

Sure, this can be done of course, but given it is the biggest financial commitment most of us will ever make, are they actually getting the best deal possible for themselves?

By best deal I don’t mean the lowest rate but the right product that fits their needs and future plans as well as overall cost.

The biggest hurdle for the DIY mortgage broker is navigating through the maze of criteria that can vary considerably between lender to lender.

In particular, for the self-employed.
For example here are some differences in criteria that can have a huge influence on the best mortgage for someone who is self-employed.

1 Some lenders will require 2 years full account for proof of income, some just one.
2 Some lenders average the income over the last 2 years whilst some will take the latest year if it is better.
3 Some lenders use a combination of salary and dividends. Some, salary and net profit after corporation tax and some salary and net profit before corporation tax.

Still with me?
The list goes on and bringing it back to navigating criteria the best way to navigate is by using a compass and of course that is where we derived our name, Compass Mortgages.

People that come to see us are starting out on a journey, they want to get to a destination (buying their home) but need guidance. So, almost 20 years ago when setting up the business, Compass Mortgages seemed an appropriate name.

If you would like to come on board with us and let us hold your hand through an ever changing, complex process then we are more than happy to hold your hand and lend our expertise to make that journey as stress free as possible.

Feel free to call one of our friendly, knowledgeable advisers for advice and guidance on 01903 815444