At Mortgage Advice For Everyone Limited (MAFEL), we believe that buying a home should be as exciting and as stress free as possible with remortgaging being simple and straightforward.
We are committed to finding the very best mortgage and remortgage deals for you based on your individual circumstances; our business has been built on referrals as our clients are very happy to refer us to colleagues, friends and family.
The process of securing a mortgage can often be very daunting, with so many options and different types of mortgages to choose from. Without engaging the services of a mortgage adviser, it can be hard to know where to start.
A whole of market mortgage adviser can research rates on the High Street and if clients’ situations aren’t straightforward there are other lenders that can be approached, some of which only offer mortgages via mortgage advisers. If clients do go direct to a lender, they don’t receive real advice, only a yes/no path to reach a particular mortgage product. The mortgage meeting might only be available in a local branch and you could wait several weeks for an appointment.
And after all that there’s no guarantee you’ll be accepted by that lender and you may potentially have to go through the whole process all over again with another lender further down the High Street, which can negatively affect your credit rating.
All this can add up to a lot of stress and uncertainty.
But there is another way because here at Mortgage Advice For Everyone Limited (MAFEL), we do all the hard work for you, from calculating affordability, submitting the application on your behalf all the way through to working with you and your solicitor to achieve completion as soon as possible. Because we search across the whole market, we’re sure to find you the most suitable mortgage based on your personal circumstances. Rather than you having to travel for your mortgage appointment we can offer you a video conferencing facility at a time to suit you, so you don’t even need to leave the comfort of your own home.
how does it work?
Mortgage Advice For Everyone Limited (MAFEL) saves you time as we project manage the whole process from start to finish meaning you can focus on your busy lives rather than having to chase lenders and solicitors.
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1. information collection
We’ll need to get some basic information and documentation from you. You can do this online using our customer portal, or an initial meeting over the phone with one of our Advisors.
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2. Research
After we have your documentation, we’ll research the market to find the most competitive mortgage for your personal circumstances; searching thousands of mortgages products across mainstream & specialist lenders.
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3. dedicated case manager
Every customer is assigned their own dedicated case manager who will regularly update you with progress as the milestones are reached.
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4. track your application
Once we have submitted your mortgage application to the lender, you’ll be able to track your application online through your personal client portal, by email or over the phone.
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5. MORTGAGE VALUATION
The lender will instruct an independent valuer to contact your estate agent or for remortgages you directly, to book in visiting the property to carry out the valuation. Some lenders may choose to use an electronic valuation system and will not need to visit the property.
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6. OFFER MADE AND ACCEPTED
Once the valuer returns the valuation to the lender, the lender will assess the valuation report to ensure that the property is adequate security. They will also assess that all the supporting documentation is in order. It is at this point that they will then issue the mortgage offer to you and separately the mortgage offer pack to your solicitor.
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7. work with your solicitor
Your solicitor will carry out the legal conveyancing for your property transaction which will include property and land searches, checking the title deeds, and checking contracts.
We recommend working with one of our carefully selected solicitors to enable us to assist with any conveyancing and completion issues. Unfortunately, a lot of high street solicitors don’t appreciate the value of a mortgage advisers and usually cut them out of the communication loop once the offer is received, leaving you to manage this part of the process yourself.
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8. EXCHANGE & COMPLETION
For new purchases once the conveyancing has been completed the solicitors will look to set an exchange date, this can be quite complicated depending on the size of the chain. This could involve numerous linked transactions, where exchange and completion need to be aligned.
At the point of exchange, you will need to have previously transferred your deposit monies to the solicitor if required; have in place your building insurance policy and personal assurance protection as you will be legally obliged to complete after exchange. You should be aware that if something happens to you or the property you are still responsible for the liability.
Usually there is a gap of a week between the exchange and completion which gives the lenders time to transfer the mortgage funds to the solicitor for completion.
At the point of completion, the estate agent will then release the keys to you.
For remortgages there is still a conveyancing process as the existing lender will need to be removed from the property title deeds and the new lender added. This is a simpler and quicker process to complete.
Our Fees
Most mortgage lenders will pay the mortgage adviser a procuration fee based on the size of the loan at the point the mortgage completes. This isn’t linked to your mortgage account, and you will be notified exactly how much this payment will be when you receive a mortgage illustration prior to the mortgage application being submitted.
All the initial research and advice we carry out is at our own expense. We make a charge of £495.00 per application once the application is submitted and accepted by the lender, so we take no money upfront. The broker fee is charged to cover the cost of the administration team as we project manage your mortgage from start to finish.
This approach has been very successful over the years managing the house buying and remortgage process from start to finish rather than working to just obtaining the mortgage offer.
We have many happy customers who we have helped and supported over the years and continue to do so. We like to build long-term relationships, so we have a complete understanding of our customers' needs. Read just some of our reviews below.
The featured testimonials are excerpts from some of our 5-star reviews. Read more reviews on 