Mortgage Broker in Glasgow
- Specialist Mortgage Advisers
- Thousands of Mortgage Products Available
- See if we can help you find the right deal
Get in touch for a free, no-obligation chat about how we might be able to help you.
Richard Webb from Pia Financial Solutions introduces the Glasgow-based branch and talks us through its services.
What is the role of a mortgage broker?
In simple terms, we help clients looking to purchase or remortgage property. We help them secure finance. Obviously not everyone has the privilege of having enough cash in the bank to buy a property outright, so most people are going to need a mortgage.
That’s where we come in – to secure that funding alongside your deposit. Once you actually have a property, you’re probably going to remortgage on a number of occasions to continually get the most suitable deal. So we help you throughout the lifetime of your mortgage. It could be a few years, or 25 years or more.
We do the donkey work to find the most suitable deal across a wide range of mortgage products and ensure that you meet that lender’s criteria and affordability requirements.
We have special relationships with dozens of lenders and banks. We take care of all the paperwork: submitting applications, liaising with solicitors, surveyors and estate agents right through to completion of your finance. We hold your hand throughout the entire process and make the process of getting a mortgage seamless and stress-free.
What’s the difference between going to a mortgage broker versus your local high street bank?
I can understand if you have a relationship with a bank already it might be your first port of call. But the issue with going to an individual bank is that you’re only getting access to their products. You’ll get a very narrow range of options as opposed to the many thousands of deals out there in the market. If you’re going through a broker you’re not tied to one individual lender, you’re getting access to a wider range.
A broker may also have better expertise with a wide array of client situations. Not everyone has clean credit. Not everyone has straightforward requirements. So their existing bank may not be able to help. A broker will be able to say up front if there will be an option available for you.
What services does a mortgage broker offer?
We have relationships with other professionals in the industry. So for First Time Buyers and anyone who’s unsure of the process, we can link them up with solicitors, accountants and lots of other services they need.
Once you have worked with us, we keep in regular contact with you as a client. We’ll get in touch about remortgages and can help you with Buy to Let or anything else you’re planning related to property and finance.
With remortgaging, you will often have a special deal for an initial period: a fixed rate for a few years, for example. At the end of that period, if you don’t do anything you’re going to revert to a lender’s Standard Variable Rate, which usually means paying a lot more.
I always contact my clients a few months prior to the current deal ending to look at the market and arrange for you to move straight onto a new deal. That way you avoid paying more than you need.
Buy to Let is also a specialist area for me personally. It’s more complex than a standard residential mortgage, so we can provide a lot of guidance – particularly with the advent of recent tax changes for landlords on rental income. A lot of Buy to Let applications are through limited companies which again, can be a bit of a minefield.
Can you offer advice on mortgage protection?
This is a specialist area for us as well. When we sit down and recommend a mortgage to a client, we’re essentially recommending a huge debt. So we have a responsibility to at least offer to review their protection arrangements.
There are three main policies we might look at. Life insurance is self-explanatory – if you were to die a policy can pay off your mortgage so your family can continue to live in that property without the debt hanging over them.
Critical Illness cover works similarly. If you are diagnosed with a critical illness such as stroke, heart attack or cancer your policy could pay off your mortgage.
Finally, there’s income protection. That differs in that it pays a monthly benefit if you’re unable to do your job due to illness or injury. That income can help manage your mortgage payments. You’re not putting your home and family at risk if there’s a loss of income for an extended period of time.
We have relationships with certain insurers for general insurance, health insurance, buildings and contents insurance, landlord insurance, student cover and more.
Get Advice From Richard
- Specialist Mortgage Adviser
- Thousands of Mortgage Products Available
- See if we can help you find the right deal
Get in touch for a free, no-obligation chat about how we might be able to help you.
Can you get me an Agreement in Principle?
This is something that we suggest getting very early in the process. When you’re looking to buy a property it’s really the first thing you should do before looking at any homes. It means you know how much you’re able to borrow.
We review your credit profile to make sure that fits in with a lender, and we’ll quote you on the deal that will be the most suitable for you. You’ll then know the cost of borrowing: the monthly payments plus the total you’ll pay back over the course of the mortgage and any associated fees. Only when you’re comfortable with those elements would we look to get you an Agreement in Principle with a lender.
It gives you confidence that a lender is happy with your position and you’re not wasting your time looking at properties that might not be available to you.
When should I see a mortgage broker?
I’ve seen clients before where they haven’t got an Agreement in Principle and have subsequently come to me having made an offer on a property and being declined on a mortgage application.
That can be stressful as a buyer: putting in an offer, waiting for it to be accepted, especially if it’s a competitive situation where everyone’s throwing in a bid. So it really helps to be sure you have all your ducks in a row, to have the best chance of getting the property you want.
You’re based in Glasgow but can you help somebody if they’re based elsewhere?
We can arrange mortgages for anyone anywhere in the UK. We do a lot of work in Scotland and Glasgow but also England, Wales and even Northern Ireland. We’re qualified legally to arrange mortgages and the lenders we deal with cover all areas across the market.
We’re very familiar with Zoom and Teams as a great way to remain connected with clients and that face-to-face contact helps build trust.
Why is Glasgow a popular location to live and buy property?
Well, I’m biased. I love Glasgow. I’m from Scotland originally but not from Glasgow – I ended up moving here and it’s got a lot going for it. It’s culturally significant. It’s got great shopping. The nightlife’s incredible. There’s a saying here that ‘it’s people that make Glasgow’. It’s
a really friendly place and very welcoming to people from our walks of life.
It’s a very easy place to settle in and feel comfortable in. And you can never get bored in Glasgow. There’s always something to do and something going on.
From a property perspective it’s very attractive in terms of prices. On the other side of Scotland, in Edinburgh, prices can be extortionate but Glasgow is cheaper and more attractive in that sense.
It’s appealing to landlords as well. I talked about having clients from around the UK and I’ve got a lot of clients based down south that invest in Glasgow because it offers just such good rental yields, thanks to cheaper value property. So people get a decent return in income. You can’t go wrong in Glasgow.
Tell us more about Pia Financial Solutions?
I’ve been in this industry for 14 years – that flies by, I tell you! I started with Pia in 2015 when we set up the Glasgow branch. So we’ve been in existence for longer than many brokers throughout the UK, covering most corners of Britain.
We deal with clients from all walks of life: First Time Buyers, experienced homeowners, those with bad credit, people with professional occupations, high net worth individuals and both small landlords and large portfolio landlords. We’re here to help anybody that is looking for finance.
We’ve also started advising on pensions and investments, so we really have all bases covered.
What advice do you have for anyone looking for a mortgage?
Being well prepared when you’re applying for a mortgage can really save headaches and stress later. You don’t want to put in an application to a lender, keep your fingers crossed and then get declined three or four weeks down the line.
It could mean your seller pulls out, sending you back to the drawing board to look for another property. So speak to a broker as soon as you can.
Think carefully before securing other debts against your home. Your property may be repossessed if you do not keep up with your mortgage repayments. The Financial Conduct Authority does not regulate some Buy to Let Mortgages.
