Mortgage Calculators Easy As 1,2,3
First Mortgage Trust have developed a number of different calculators over the years not only to enhance the quality of their clients online experience but also in response to client, consumer and third party requests. Among the calculators are Mortgage Payment Protection, Bridging Loans, Secured Loans, Buy To Let Rental and Mortgage Calculator, Affordability and budget, How much can I borrow, monthly mortgage payments for both interest only and repayment, flexible mortgage calculator and three conveyancing calculators for buy, sale and buy and remortgage.
The assistance of online mortgage related calculators are many and varied. First Mortgage Trust’s extensive collection of online calculators allow client retention and leaves them in complete control. not only to compare current outgoings but also for expected costs and savings. Every cost associated with selling, purchasing and remortgaging is obtainable and for the client to interact with. Mortgage calculators help to create a sticky website.
Calculators are of assistance to solicitors, Independent Financial Advisers, mortgage brokers and those involved in residential and commercial real Estate. The calculators can be used both online and offline for ease of reference to professionals. Other benefits are client and consumer retention as website visitors no longer have to leave a professionals site to confirm or check figures.
For Financial sets web designers, webmasters and search engine optimization this becomes highly useful keyword high content and is an basic must have for any associated site. With around 500,000 searches every month in the US & UK for ‘mortgage calculator’ this proves the need for information required by online clients.
First Mortgage Trust’s conveyancing buy and sale & buy calculators include a database of approximately three hundred and seventy local authority search fees. First Mortgage Trust update this database yearly. Although local search indemnity insurance is now popular amongst conveyancing solicitors it must be remembered that not all lenders will allow this and may well insist on a local authority search. Clients can also work out stamp duty, another substantial cost in the home buying course of action along with many other roles.
With the ever changing scenery of lending and underwriting criteria it is important that the consumer have calculators obtainable to them. Many lenders have now increased income multiples to as much as 5.6 joint for high credit score, high earners. Before a client proceeds with a mortgage it is important that they have an idea of borrowing capacity, after establishing borrowing capacity they can further confirm monthly figures to confirm affordability.
It is also important that any calculator placed on a financial sets website not only carries disclaimers but also keeps speed and reflects changes with legislation from a regulatory perspective. The Financial sets Authority have expressed some concern over the self certification mortgage. A ‘non position’ mortgage whereby income is not verified by the lender. consequently a mortgage budget and affordability calculator is basic along with hints as to why the consumer is self certifying their income, this is in accordance with responsible lending practices.
With rising character prices diminishing rental yields a buy to let mortgage and rental calculator also proves exceptionally popular. Where the amount of mortgage obtainable can be reduced significantly by a valuers comments or rental assessment it is important that the client is forearmed.