Frequently Asked Questions
Run by husband and wife duo, Jon and Lisa Stone, Mortgage 1st is a family run business offering Mortgage & Protection Advice to customers across the UK. Our priority is to offer our customers quality professional advice and support them through the mortgage process.
Jon Stone launched Mortgage 1st in 2008 and for the first 5 years ran the business as a single broker firm. In 2013, the team grew with the addition of our first 3 Advisers and ever since then we have continued to grow every year.
We now have a team of advisers working together to offer professional mortgage and insurance advice across the UK.
A mortgage adviser is a qualified professional who is authorised by the Financial Conduct Authority to give advice, and submit your mortgage application for you. They are professionals who understand the mortgage process and can help you to find the best mortgage quote for your individual circumstances.
A mortgage adviser is a qualified professional specialising in finding the most suitable mortgage deal and best mortgage rate for you. They provide you with bespoke advice tailored towards your personal circumstances. A mortgage adviser will consider what you are looking for from a mortgage, and make sure you are confident in the mortgage you choose. They also offer explanations on the different types of mortgage available to you, as well as answering any question you may have.
A mortgage advisor can help streamline a stressful process for you by searching and applying for mortgages on your behalf. They are even more beneficial for those with more unique circumstances, for example where you have already been declined by a bank. Mortgage brokers may also be able to offer those with low credit scores an opportunity with alternative lenders from mainstream banks. Find out more about how they can help you with our mortgage broker guide.
Fees differ depending on the mortgage broker you choose to work with. There are some brokers that will charge fees for an initial consultation and others who will offer a free consultation such as our team here at Mortgage 1st! Having a free initial consultation with our mortgage brokers is easy and means that we can understand what you need before any costs are involved!
After your free initial consultation, we charge a fee on completion for a remortgage, or on mortgage offer on a purchase. This should give you confidence in our ability to help you because if we cannot help, there is no fee for our time. Everyone’s needs are different therefore all brokers will have a different charging structure which will be tailored for your exact situation.
A mortgage quote provides you with an estimate of the costs of borrowing a certain amount of money under specified conditions and the cost to you. It will break down the details of your quote, such as how much the deposit will be, interest rates, estimates of your monthly payments, early repayment fees, and more.
To determine your mortgage quote several factors are taken into consideration. You will be asked to provide your personal details, employment history, salary information, details of the property you want to purchase, type of mortgage required, and how much money you want to borrow. These are just some of the factors considered when a mortgage quote is formed.
There are several ways to get a mortgage quote including visiting your local bank or using an online mortgage calculator. It is important to remember that mortgage quotes are estimates.
Getting a mortgage quote online can be more convenient for people with busy schedules or work commitments. Our mortgage advisers will provide you with a free mortgage quote within an hour of you submitting your request.
If you die, your mortgage debt is passed onto your family and estate. Mortgage insurance is a type of insurance that pays off your mortgage balance in the event of your death. The amount it pays reduces in line with the outstanding balance on your mortgage to ensure that, if the worst were to happen, your family wouldn’t be left with your mortgage debt and would be able to continue living in the property.