Independent mortgage advice panel
When you buy a property it is important that you make informed decisions so that you can afford to enjoy your new home for a long time.
We offer a panel of independent mortgage advisors to help you with mortgage matters. Moat staff are not qualified to offer or provide financial advice. Mortgage advisors on our panel are selected because they show service levels we expect to be provided to our customers.
Please click on this link to open our leaflet about 'Getting the right mortgage deal'.
If you proceed to purchase a home through Moat you must contact one of the mortgage advisors on our panel for a short financial interview, before you reserve the property. This is usually carried out over the phone. If your assessment is satisfactory you will be given a formal offer letter from Moat. This offer can be withdrawn at any time. It will clearly outline a maximum purchase price and how long you have to find a property.
If you appoint a financial advisor to arrange a mortgage for you, they will outline to you how they will be paid for their services. Mortgage advisors usually receive a fee from the lender. The advisors on Moat's panel have agreed that when they arrange a mortgage for one of our purchasers, they will receive a fee from the lender. Our advisors have agreed that when they arrange a mortgage for one of our purchasers, they will rely on the commission they receive from the lender and will not charge an additional fee. Under Financial Services Authority (FSA) rules however, independent mortgage advisors will offer you the option of paying a fee for their services and having the lender's fee refunded to you. This will be explained to you by the advisor.
It is your own choice if you wish to accept mortgage advice from one of our panel advisors. Moat accepts no liability for the performance or actions of any of these mortgage advisors.
Types of mortgage
There are many types of mortgages, with terms and conditions that vary, and some mortgages that are not acceptable to us. If you use the services of one of the advisors on our panel, they will confirm to you which mortgages are acceptable. Please note that you must obtain a mortgage from a lending institution that is regulated by the FSA. Check this out with your bank or building society before you proceed.
We may refuse certain mortgages if the interest rate or term of the mortgage are not considered to be sustainable over the long term.
- the term of your mortgage must be for no more than 25 years
- self-certified mortgages are not acceptable
- interest only mortgages must be accompanied by an investment plan to repay the capital
- we cannot accept mortgage offers that offer further borrowing without consent
- you can only borrow money on a mortgage up to the value of the share you are buying in the property
In all instances where you require a mortgage different to these conditions/criteria, please contact us to check before you commit to any borrowing.
We reserve the right to refuse any mortgage offer that does not meet the criteria or that we feel is not affordable based on the financial information provided on your application form.
Moat's panel of independent mortgage advisors:
SPF Sherwins
The Old Granary, Squerryes, Goodley Stock Road, Westerham, Kent, TN16 1SL (offices also in London, Brighton, Gillingham and Essex)
Tel: 0800 652 2365
Email: info@spfsherwins.co.uk
Website: www.sherwins.co.uk
FSA number: 189213
SRC Financial Services Limited
365 Rayleigh Road, Eastwood, Leigh on Sea, Essex, SS9 5PS
Tel: 0800 954 0443 Fax: 0845 330 0188
Email: info@srcfinancial.com
Website: www.srcfinancial.com
FSA number: 430562
Best Advice Financial Planning Ltd
Pegler Way, Crawley, Sussex, RH11 7AF
Tel: 0800 018 2378
Email: enquiries@bestadvice.co.uk
Website: www.bestadvice.co.uk
FSA number: 413123
Your home is at risk if you do not keep up rent and mortgage repayments or payments on other loans secured on it.
Please note that the value of properties can go down as well as up.