Who are we?

We are an FCA regulated, Whole of Market Mortgage & Protection Broker, based in Low Fell Gateshead, but covering the whole of the UK.

Our Director, Karl, has been a broker for over 10 years, and has arranged 1000’s of mortgages nationwide. We guarantee to find you the best deal, and we guarantee top class customer service.

We compare criteria and mortgage deals from over 80 lenders (which means 1000s of mortgage deals) to find the best deal you are eligible for. Exclusive deals are often available too – which are NOT available directly through your bank or on price comparison websites.

Why Choose Us

Expertise

Our expertise and know-how is essential if you run into any problems during your home buying journey, and are here to offer advice and guidance if your situation is a little more complicated. We have over 10 years experience.

Dedicated Contact

We promise that you won’t be passed from pillar to post. All customers get a personal service and direct access to their mortgage broker right the way through the process.

Lifetime Fee

We believe in looking after our customers. Whenever you need to remortgage in the future we don’t charge you again. We only charge you our one-off £295 fee on submission of your first full mortgage application.

Time-Saving

We are remote based and therefore can arrange everything over the phone and by email - saving you time and hassle. We can accept electronic copies of payslips and bank statements. We also run electronic ID checks, so this all saves time on postal delays that you may experience with other brokers or bank.

Karl

Karl is our mortgage and protection broker (CEMAP qualified). He has arranged 1000s of mortgages nationally, and brings over 10 years experience as a mortgage broker/ adviser. He also holds a BA (hons) in Accounting. Previously worked for the largest mortgage & protection broker in the UK before setting up KB Mortgage Solutions Ltd.

The idea for the business was to offer a more personalised service, as well as helping those with more complex circumstances. We wanted to break away from the call centre approach and offer a more personal approach, where you have good access and communication with your broker through-out the whole process, whether that be via email, text, messenger or phone call. We can deal with you throughout the whole process, instead of fobbing you off to different staff and departments.

FAQ's

Here we answer some of your frequently asked questions. For any other questions, just drop us an email at enquiries@kbmortgagesolutions.co.uk

Can I pay my mortgage off early?

Yes, however you could have early repayment charges to pay if you have only had your mortgage product for a short amount of time.

How much will a mortgage cost each month?

This will vary depending on the loan amount, the term of the mortgage and the interest rate.

How much can I borrow?

The main things that dictate how much a person or couple can borrow is income and current credit commitments. All lenders have different ways to calculate what someone can borrow.

What is a credit score?

This is a score that we all have and is based on how we have conducted our finances over the preceding six years and is used by Financial Services companies to assess our credit worthiness.

How long will I have been in my new job to get a mortgage?

Most lenders like to see a track record over 6 months, that said with most lenders if you have a signed contract and your first pay slip issued it’s something a lot of lenders will be fine with. If we are needing to using income like overtime, bonus/commission payments these are normally required to be evidenced for at least 3 months.

What is Agreement in Principle?

This is commonly abbreviated to AIP, or DIP (Agreement in Principle, Decision In Principle) which is the same thing just called differently across lenders and brokers.

Can I make an overpayment on the mortgage?

Yes, with most lenders they allow you to overpay 10% of your mortgage balance, this will be fully explained to you in a mortgage quote but as an example £220,000 Mortgage, borrowed over 30 years on a 3 year fixed, each year you will be able to pay your monthly payment and 10% of the balance in addition (£22,000 in this example) either in one lump or varied instalments.

How can I improve my credit score?

You can improve your score by proving that you can repay debt and cope with any credit commitment you have, such as loans and credit cards and by paying things like mobile phone bills and utility bills on time. Also, it helps to be on the electoral role.

How do I find out the maximum mortgage that I can get?

This will be made up of a lot of criteria, based on your age, income, current commitments, deposit and credit score history, due to it’s complexity and varied lending it’s always advisable to speak to an adviser to get an accurate idea. Most lenders work of an income multiplier typically 4.5 x your income but this will only give you a very rough idea with some lenders being much higher and some lower.

What costs are there when buying a property?

There are various costs associated with buying a property which we’ve detailed below:

Stamp Duty Land Tax (SDLT): currently first time buyers are not required to pay SDLT. Current percentages payable can be found at https://www.gov.uk/stamp-duty-land-tax

Solicitor’s fees: These are based on the purchase price. Typically, First Time Buyers will pay £500-£1000.

Valuation fees: For most lenders these are also based on purchase price. Many lenders offer free valuations, especially for first time buyers and remortgages.

Lenders arrangement fees: These can usually be either added to the mortgage or paid up front and average at about £999.00.

Can I move my mortgage to another lender if they are offering a better interest rate?

Yes. You can “remortgage” to another lender to take advantage of their better interest rates. As part of our service, we will contact you as you approach the final few months of your existing mortgage deal to provide you with details of the options available to you.

Can I make overpayments on my mortgage to pay it off sooner?

Yes, most lenders allow up to 10% of the mortgage balance to be overpaid each year without incurring any penalties.

How many years books will I need if I am self-employed?

Some lenders will work off 1 years books, the majority will need 2 years full completed and submitted books to use any income from a self-employment.

How long is a mortgage valid for?

If you ask a lender for an agreement in principle these will normally be valid between 30 – 90 days. This typically pre checks your lending and credit score but does not secure the mortgage in full.
Once you’ve found a property you can apply for a mortgage, which will begin the process of lending. Once this is approved the lending will be valid for 6 months.

How much deposit do I need for a Buy-to-Let mortgage?

Normally a minimum of 25% deposit. Some lenders will do a lower deposit, but it will restrict who you can approach for lending.

What insurance do I need for a mortgage?

As a minimum, the building itself needs to be insured. We would usually recommend that you also insure the contents within your home too. Other insurances we recommend are life insurance and income protection insurance and critical illness cover, all of which are quoted from across the whole of the market.

What is the difference between a repayment mortgage and an interest only mortgage?

A repayment mortgage is guaranteed to pay off your mortgage by the end of the term as long as all payments have been made.
An interest only mortgage is where your monthly payments are only covering the cost of the interest and your loan amount will remain the same. At the end of the term, you would either need to sell the property to repay the mortgage or find another source to repay the loan.

Do I need an agreement in principle?

With most mortgage lenders now doing a soft footprint on your credit score, an agreement is a good idea, mainly to give you peace of mind, but this will also back up your position financially with owners and estate agents so they know finance is achievable should you see a property you like.

How much deposit do I need?

You will need a minimum of 5% deposit. The more deposit you put in, the better the interest rates will be. For example, if you put in 15% deposit this will get you a better interest rate than a 10% deposit. It will also with some lenders affect what they will lend, with some lenders lending you more if you put down 10/15 or even 25% as a deposit.

Can I make payments every week on my mortgage?

This has been popular abroad, as yet most UK lenders will only take their mortgage payments monthly via direct debit.

What is a Buy-to-Let mortgage?

A Buy-to-Let mortgage is where you buy another property specifically as an investment with the intention of letting it out.

Lenders

We work with a trusted network of lenders to provide a wide range of mortgage options. Our goal is to help every client find the right solution that fits their financial situation, making the journey to owning a home smoother and more affordable.

Insurers

We offer Life insurance, critical illness cover & income protection from a panel of carefully selected insurers. We believe it’s vitally important for families and homeowners to financially protection themselves and their loved ones.

Our Fees

We give free consultations and offer free advice. In terms of our fees, we usually charge a £295 fee on submission of a successful full mortgage application – should you be happy to go ahead and use us. For more complex cases which require more time and effort, we may charge a higher fee. Your adviser will confirm this.

Our fee comes with a property life-time guarantee – once you’ve paid us, we’ll arrange all of the future like for like re-mortgages / rate-switches on the property free of charge.