Mortgages

Learn about the mortgages we offer

PHX Mortgages helps aspiring and existing homeowners and business customers with the full spectrum of mortgage requirements. We walk you through the transaction process, step by step, to understand the fundamentals. 

• How much can I borrow?
• What will it cost?
• Can I improve my current home?
• Is it possible to reduce my monthly outgoings?

Once we have agreed on your needs, we advise on the most suitable mortgage for your circumstances. We smooth the process to get you successfully to completion. Where appropriate, we liaise with lenders, estate agents, valuers and solicitors on your behalf. 

First-time buyers – discover how much you can borrow and understand your journey to buy a new home. 

Customers who are looking to remortgage – we scour the most suitable deals to meet your circumstances and needs. Whether your existing mortgage is due to expire, maybe you need help to raise funds for home improvements or wish to pay off debts. 

Or maybe you’re a property investor looking for buy-to-let options advice. We have the expertise to offer commercial and equity release via third-party referral on a non-advice basis.

At PHX Mortgages, we pledge to:

• Make the whole process of securing your mortgage straightforward
• Research from a comprehensive range of lenders across the market to find suitable products to meet your needs
• Fully explain the process and options available 
• Provide a full ‘Advice and Recommendation Service’
• Keep you updated at each key stage of your transaction

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

Mortgages we offer:

• First-Time Buyer Mortgages
• Remortgages & Rate Switches (up to 6 months before your product ends)
• Buy-to-Let Mortgages
• Debt Consolidation & Home Improvement Financing
• Help to Buy & Other government schemes
• Bridging Finance
• Right-to-Buy, Shared Ownership / Shared Equity
• Adverse Credit / Poor Credit Mortgages
• Commercial Lending (The FCA does not regulate commercial finance and we act as introducers for it)
• 0% Deposit Options
• Parent/Family Assist Mortgages
• Joint Borrower Sole Proprietor Mortgages (JBSP)
• Lifetime Mortgages* – to release equity for over 55’s (via referral)
• 2nd Charge Lending (via referral)
• House in Multiple Occupation Mortgages (HMO)

*This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.

Five Top Mortgage Tips for First-Time Buyers and Home Movers

If you want to buy your first home or move house, here are some thoughts and guidance based on industry experience.

1 – Establish what you can afford

Before searching for a property, ask a mortgage broker to explore how much you can borrow and explain the likely costs. 

Some lenders will allow you to borrow more than others depending on whether you have a fixed income, you’re self-employed, or if your income varies with commission or overtime. 

Don’t worry if you have a low credit score, have missed payments in the past or have adverse credit. As experienced mortgage consultants, we can help to advise you and find mortgage lenders for your circumstances. 

2 – Work out the costs

One of the most critical steps when buying any property is to work out the associated costs. For instance, how much deposit do you need? What are the additional costs, such as legal fees, stamp duty and estate agent fees, if you are moving? Getting this all down on paper is a good idea so there are no surprises when you find your dream home.

3 – Get an Agreement in Principle

An Agreement in Principle (AIP) is a written estimate from a mortgage lender indicating how much money you can borrow. 

It won’t cost you anything to get an Agreement in Principle. However, it provides initial peace of mind about how much a lender will likely offer you based on your circumstances.

Typically, an AIP is the first thing an estate agent will ask you for if you wish to make an offer on a property.

4 – Explore all the schemes

Many different schemes are designed to help you get onto the property ladder. These include; Right to Buy, Shared Ownership, and 100% mortgages with no deposits. There are also savings options to help you with a deposit, such as Lifetime ISA’s*. A professional mortgage consultant will explore all the relevant schemes on your behalf and streamline the options to meet your needs and circumstances. *For Lifetime ISA’s we act as introducers only.

5 – Take the emotion out of purchasing or moving

Buying a property is an emotional experience, whether it is your first home, forever family house or an investment portfolio. However, it is probably your most significant financial outlay, so all decisions must be carefully considered. It is essential to remember your property may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.

To help the decision-making, write down all the pros and cons of the purchase or move. Be honest with yourself and try and take the emotional element out of it.

If you are selling a property, use a reputable local estate agent who you trust, not just a cheap agent who may not know the area.

Speak to a mortgage consultant who will help you with the finances and guide you through all the stages to completion.

Our opening hours are 8 am – 8 pm Monday to Friday and 8 am – 12 pm on a Saturday. However, please contact us outside of these times and we will be in touch at the earliest opportunity.