Your Local Mortgage Broker in Reading
Experience personalised financial solutions designed for your unique needs
From first-time buyers to portfolio landlords, we're your partners
Expert advice, competitive rates – just a consultation away
Mortgages Made Simple
Welcome to Filium Clerkson, your dedicated Mortgage Broker in Reading, Berkshire. We specialise in providing tailored mortgage solutions that meet your unique needs. With a deep understanding of the local property market and a commitment to exceptional service, we're here to guide you through every step of your mortgage journey.
Whether you're a first-time buyer, looking to remortgage, or invest in property, trust us to make your home financing experience smooth and stress-free. Let's start your path to home ownership today.
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Got Questions?
We Have Answers
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What mortgage term can I have?Most lenders offer terms up to age 70 or 75, contingent on your chosen retirement age and proof of retirement income. After assessing your unique circumstances, we'll provide tailored advice on the most suitable term.
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What documents will I need?You'll need to provide proof of identification, address, and income. For self-employed or company directors, submit the last 2 years' tax overviews and SA302s. Employed individuals should provide the last 3 months' payslips, proof of any bonus income from the last 2 years, and details of financial commitments.
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How much can I borrow?Lenders evaluate your borrowing capacity based on affordability. We'll guide you through the process, utilising your income and financial commitments to access lenders' affordability calculators and recommend the most suitable options.
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What type of mortgages can you help with?Our expertise covers a wide range of scenarios, including assistance for first-time buyers, existing or new clients moving home, remortgaging, high net worth clients seeking large loan mortgages, offset mortgages, or interest-only mortgages. We also assist with buy-to-let mortgages, including portfolio landlords.
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How is the interest rate on my mortgage determined?Interest rates vary based on several factors, including the type of mortgage, loan amount, and your credit history. We'll help you understand how these factors influence your rate and guide you toward the most favourable options.
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Can I get a mortgage if I have a less-than-perfect credit history?Yes, it's possible. While a strong credit history improves your chances of securing a favourable rate, we work with lenders who consider various credit profiles. We'll explore suitable options based on your specific circumstances.
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What fees should I expect when getting a mortgage?The fees associated with a mortgage can include arrangement fees, valuation fees, legal fees, broker fees, and more. We'll provide a transparent breakdown of all expected costs, ensuring you have a comprehensive understanding of the financial commitment involved.
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How long does the mortgage application process take?The timeline varies, but on average, it takes around 4-6 weeks from application to completion. Delays can occur based on factors such as property surveys and legal processes. We'll keep you informed at every stage, providing clarity on the expected timeline.
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Do you offer assistance for self-employed individuals and freelancers?Absolutely. The documentation requirements may differ, but we'll guide you through the process to secure a mortgage tailored to your unique financial situation.
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What's the difference between a fixed-rate and variable-rate mortgage?A fixed-rate mortgage maintains the same interest rate for a set period, providing predictability. A variable-rate mortgage fluctuates with market conditions. We'll help you understand the pros and cons of each option, assisting you in making an informed decision.
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Are you independant?Yes, we are independent and have unrestricted access to the entire market, including exclusive deals that benefit our clients.
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Why do I need life insurance?Life insurance provides financial protection for your loved ones in the event of your death. It ensures that your family can cover outstanding debts, daily living expenses, and future financial needs.
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What is critical illness cover, and is it necessary?Critical illness cover pays out a lump sum if you're diagnosed with a severe medical condition. While not mandatory, it offers financial support during challenging times, covering medical costs and lifestyle adjustments.
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Why consider income protection?Income protection ensures a regular income if you're unable to work due to illness or injury. It's a valuable safety net, covering essential living costs when your regular income is disrupted.
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How much cover do I need?The appropriate amount of cover depends on your individual circumstances, including financial commitments, debts, and lifestyle. We assess your situation to recommend suitable coverage.
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Can I adjust my protection as my circumstances change?Yes, protection plans can be adapted to reflect changes in your life, such as marriage, having children, or buying a home. Regular reviews ensure your coverage aligns with your current needs.
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Do I need protection if I'm single or without dependents?While the need may be less immediate, protection can still be beneficial. It can cover personal debts, funeral expenses, or serve as a financial legacy for family members or charitable causes.
Types of Mortgages
Fixed-Rate
A Fixed-Rate Mortgage offers stability by locking in a consistent interest rate for a predetermined period, often ranging from two to five years. This provides borrowers with predictable monthly payments, shielding them from fluctuations in interest rates.
Interest Only
With Interest-Only Mortgages, borrowers pay only the interest where the principal loan amount remains unchanged. This can result in lower monthly payments, but it's crucial to have a plan for repaying the principal at the end of the interest-only period.
Tracker
Tracker Mortgages are linked to a specific benchmark interest rate, often the Bank of England's base rate. The interest rate fluctuates based on changes in the chosen benchmark, providing transparency for borrowers. This type of mortgage can be advantageous during periods of low-interest rates but may result in higher payments if rates rise.
Variable-Rate
Variable Rate Mortgages, also known as Adjustable Rate Mortgages (ARMs), feature interest rates that can fluctuate based on market conditions. While initial rates may be lower than fixed-rate options, borrowers should be prepared for potential changes in their monthly payments.
Off-Set
An Offset Mortgage links a borrower's savings or current account balance to their mortgage, effectively reducing the interest paid. The outstanding mortgage balance is calculated based on the difference between the mortgage debt and the savings balance, potentially allowing for quicker repayment.
Buy-to-Let
Buy-to-Let Mortgages are designed for individuals purchasing properties with the intention of renting them out. The criteria for these mortgages often consider the potential rental income, and interest rates may differ from standard residential mortgages.