MORTGAGES

The Mortgage broker in Newcastle

Seeking advice from a Mortgage Broker in Newcastle is essential if you're looking to buy a home in the city or surrounding suburbs, especially if it's your first mortgage.


Buying a new home is exciting. Yet, looking for mortgages and securing the right one can seem overwhelming. At Penda, we have thirty years of experience finding the right finance for our clients.

Our advisers provide expert advice and deals on home loans.

Our advisers provide expert advice and deals on home loans.

Call Us For Mortgage Advice

Our advisers provide expert advice and deals on home loans.

Call Us For Mortgage Advice
Call one of our experienced mortgage advisers for assistance on 07789 900359 or contact us via email. We are here to help.
We are a local company providing financial advice with access to virtually all of the mortgage market, which means we can shop around to ensure that you get the best loan options and you are comfortable with the repayments.

Trust Penda, we have the expertise to find you the best possible mortgage deal, and we can guide you throughout the whole process. So if you're looking for advice on mortgages in Newcastle, you are in the right place.

Is Penda the Best Mortgage Broker in Newcastle upon Tyne?

Choosing the right broker in Newcastle upon Tyne is crucial if you're planning to buy a home. The staff at Penda Financial have over 30 years of experience in the industry, and we can help you get the best possible deal that's right for you from the mortgages available in the financial markets.

Our friendly and professional advisors have assisted over a thousand happy customers, just like you, in Newcastle and the surrounding areas. We will guide you by the hand as we navigate you through the complex process of buying a home and help you understand the different options available.

Securing the correct financing is an important step in the home-buying process. We are here to ensure you obtain the best available deal and guarantee to provide you with outstanding service from start to finish.

Trusted Mortgage Advisor in Newcastle

Ensuring you obtain the best financing for your mortgage is by no means easy and can be a daunting task to many. That's where a trusted and professional finance broker specialising in mortgages comes in handy.

At Penda Financial, we have access to an extensive range of products and homeowner loans. Whatever your mortgage needs, we can help you find the perfect homebuyer loan for your unique situation.

Additionally, we will work with you throughout the lending process to ensure everything goes smoothly.

  • Choosing the right mortgage

    is essential when making the most significant purchase of your life, which is a home. You will need to know where to acquire the best deals, how the financing works, what the different types are and what you can afford or are willing to borrow. Penda is here to guide you through this process.


    So if you're looking for someone who cares about your mortgage application from start to end, consider contacting Penda.


    We will help you every step of the way and ensure your home-buying process is as easy and stress-free as possible.


    A mortgage is a long-term homeowner loan used to buy a property. The loan term is typically 25 years, but it can be shorter or longer depending on your situation and goals.


    It would help if you took out financing that you can afford. Following our initial consultation, our brokers will advise you on how much you can realistically afford.


    If you default on your loan repayments, there are times when the lender will take back or repossess your home to sell it to repay the loan. The loan is 'secured' on the total value of your home (or LTV) until you have completed your final payment.

If you'd like further information or to talk things over with a team member, please get in touch at 07789 900359.

  • Mortgage advice in Newcastle, you will feel at home with

    Penda is here to help you find a mortgage, whether you are contemplating your first property purchase or looking for a home mover mortgage or remortgage.


    Our local mortgage advisers can help you find the right deal for your needs, considering your financial and personal circumstances.


    Penda specialises in mortgages, and your dedicated advisor will be able to guide you through the entire process - from finding the right financial product to expert advice on loan terms and processing the application to acquiring the finance for the property purchase.

For more information on specific topics, feel free to click on one of the links below;

Need a mortgage in Newcastle? We can open the door to a good deal.

Professional mortgage advice

Our advisers provide unbiased financial advice and can help you obtain a great deal.


Penda Financial understands how the financial markets work and have access to hundreds of providers, which means we will provide you with the right loan that matches your requirements.


We can open the door to a new home by advising you on the most suitable mortgage, calculating how much you can afford, and working out your monthly loan payments and other related costs.


Our brokers work diligently to ensure you get the best possible mortgage offer, even if it means going above and beyond the call of duty. We will ensure you understand your options clearly and get the right deal.


If you’d like to talk things over with an adviser, call us on 07789 900359.

Your Mortgage advisors in Newcastle upon Tyne

Mortgages are essential financial commitments that you need to get right. The vast range of available deals that all the lenders offer can be daunting to anyone, whether you're a first-time buyer, looking to remortgage, or moving house. That is why you need an expert for advice.

We are not tied to specific banks, building societies or specialist vendors and have access to virtually all homeowner financing products and deals in the financial markets. This means we can offer better rates for homebuyer loans than your local bank or building society.

Penda Financial is regulated by the Financial Conduct Authority (FCA), so you can trust us to handle your personal and financial information securely and confidentially.

Working directly with us will also ensure quick and easy access to a decision in principle for a homebuyer's loan, making the home-buying process much easier and more streamlined.

And once you have had an offer agreed on a property, we will take care of all of the paperwork to ensure your financing is secured for your new home.

Local Mortgage company in Newcastle near me

Penda Financial Management, a local company, has provided advice on property prices and mortgages for over 20 years.


Unlike other brokers, we are an independent company that operates from a brick-and-mortar office rather than a virtual office and are not part of a nationwide network.


Our advisors have handled over a thousand mortgage applications for property purchases in Newcastle and North Tyneside.


We can provide you with specialist advice on buying a home, dealing with your finances, sourcing the best homeowner's loan options for your needs, and advising on property inspections, price negotiations, and protection insurance.


So, whenever you are ready to buy a property, feel free to get in touch to see how we can help you.

Are you looking for a Mortgage Agreement today?

 If you are a first-time buyer looking at buying a property and want to make an offer, our advisers can provide you with a decision in principle within half an hour.

This agreement in principle, will enable you to place an offer on a property.

How do we do this for you? During your free mortgage consultation, we will assess your credit score, income and expenditure to ascertain what mortgage product and loan value best suit your circumstances.

So what are you waiting for, contact your local office today on on 07789 900359 or via email.

The Mortgage Advisor to help find you the Best Rates in Newcastle

Our specialist mortgage advisory service is here to provide straightforward and professional advice and financing for every scenario.


Our advisers are not tied to any preferred financing companies. They have access to thousands of deals from hundreds of suppliers, including banks, building societies and bespoke vendors who provide the finance to enable homebuyers like you to purchase properties.


So if you want to get a mortgage, we provide deals for the following types of mortgages;

First Time Buyer

Homemovers

Remortgage

Right to Buy

Self Employed

Buy to Let

Why choose us as your Newcastle Mortgage Adviser?

When it comes to mortgage advice, trust the professionals. Penda Financial Management are independent financial advisors, authorised and regulated by the FCA, specialising in mortgages and protection.

Our experience in the UK industry spans 30 years, and our local team of friendly mortgage advisors can help you obtain the best financing options for your needs.

We work with a wide range of providers who offer the best rates and deals on mortgages, so you'll always be able to find the right loan for your situation. In addition to professional mortgage advice, we offer various services, including home buying and selling advice, pre-approval assistance, and protection insurance policies. We're here to help you take the first step in your journey to acquiring your new home.

  • Additionally...

    Penda's advisers will know which deals you are eligible for based on a loan provider's lending criteria because we understand how they operate. So even if you locate an excellent homeowner finance deal yourself, it does not necessarily mean the vendor will accept your application.


    With us, there is no need to worry - we will help you with the paperwork and ease you through the process. Unlike some internet-based companies, we pride ourselves on our personal service and are always contactable by phone, email, or face-to-face.


    We are ready to help you, so why not contact us today on 07789 900359 or get in touch via email

"I didn't think I would ever get on the property ladder, but Angela at Penda came up with a radical plan, and now I have my first home." Ms Singleton, Wallsend


Refer to our testimonials page for additional customer reviews, endorsements and words of appreciation.

The benefits of professional mortgage advice for home purchases in Newcastle

Finding the right mortgage can be time-consuming and stressful. Seeking advice from a professional will make the process much more straightforward.


We specialise in sourcing the best loan deals for property purchases and have access to an extensive range of products, so you're sure to find one that fits your specific needs.


Additionally, Penda offers expert advice that covers all the necessary steps to ensure you secure the best finance deal possible. Our team of mortgage advisers is highly experienced and knowledgeable - they will be able to guide you every step of the way until your application is approved and authorised. Contact us today for more information!

  • How do we help with mortgage advice in Newcastle?

    At Penda Financial, we fully understand that choosing the correct mortgage is an important decision that can significantly impact your home-buying experience. Our job is to provide impartial advice and help our customers find the best deal.


    We have a long history in the industry, having worked with hundreds of local customers like you; we are passionate about helping our clients acquire the best possible mortgages.


    Our expert team will help you navigate the entire mortgaging process - from pre-qualification to completion. Contact us today to learn more about our services!

How our Mortgage process works

With Penda, you are in safe hands; our dedicated team of professionals have over three decades of experience in the industry.


Our process is easy to follow, and we are always on hand to help you through every step of your mortgage journey.


Our job is to provide expert financial advice and help you find the right mortgage that suits your needs.

  • Step 1 - booking an initial free consultation.

    During the meeting, your friendly advisor will assess your financial situation. Once we have all the relevant information, we will undertake a mortgage search to source the best solutions from our providers.


    Penda will then recommend the most suitable deal for you regarding the overall costs and features of the product, not just the headline interest rate (APR%).


    Once you are satisfied with the recommendation, we will obtain an Agreement in Principle for your mortgage.

  • Step 2 - making an offer on a property

    With your agreement in principle, it's time to begin house hunting. Once your offer on a property is accepted, we will assist you with the rest of your application.

  • Step 3 - processing the formal application

    Once you agree to use Penda and are happy with our broker fee, we will start submitting the main application.


    From that point, it's all up to us. We will submit your completed application form. Your dedicated case handler will keep track of the process until we receive your formal mortgage offer.


    Along the way, Penda will assist you in overcoming any obstacles and remove the stress associated with your homeowner loan application, whether you are buying a new home or simply remortgaging.


    We will contact you and the estate agents throughout the process to ensure your application proceeds to offer.

  • Step 4 - completion

    Congratulations, your finance has been arranged on your new property, and your offer has been accepted!


    Throughout the whole process, our team of experienced and friendly advisors will be there for you every step of the way.

  • Mortgage affordability: How much can you afford to borrow?

    Once you own a home, you must consider numerous other expenses like household bills, maintenance, council tax and insurance.


    So you need to convince the lender that you can keep up with repayments even if interest rates increase. To evaluate this, they will need personal financial information about your income and any debts you may have. If the loan provider thinks otherwise, they may refuse to offer you a mortgage.


    Lenders will want to know how much you usually spend on household bills, essentials, socialising, and other expenses such as hobbies and child maintenance.


    You must provide proof of income, debts, and monthly expenditures.


    After you've provided all the relevant documentation, let Penda do all the heavy lifting and ease the burden. Leave this process to our friendly, trained advisors.


    So if you want to buy a new home and require a home loan to secure the property, get in touch today.

Mortgage calculator

Mortgage calculators can be a great way to start assessing the money lending markets. They are quick and easy to use and provide a guide as to what size of mortgage you could get.

Why not use our online calculator to assess how much you can afford to borrow? Click on the 'calculator' icon opposite. The calculations are for illustration only and do not include your deposit. Once you know what you can afford, we can take it from here and process your application.

The lifestyle budget calculator

It's surprising how much we spend on everyday living, travel, socialising, activities, hobbies, holidays and treats. Try our handy lifestyle calculator to estimate how much you spend per month to determine what you can realistically afford for loan repayments on a new home.

  • Will the size of your deposit influence the mortgages and deals on offer?

    The size of your deposit will determine the interest rates (APR%) for the available homebuyer loans.


    If you provide a large deposit, your interest rate will be lower. The more you pay upfront, the more the house will be under your ownership and excluded from the loan. In technical terms, this is called the "loan to value" or LTV.


    For example, if your required deposit is 10%, you must provide a £10,000 deposit on a £100,000 property, and the mortgage covers the remaining 90%. So your LTV will be £90,000 in this instance.


    The risk to the company providing the finance tends to decrease as the size of the deposit increases, and the LTV drops, so the interest rates on offer will be more appealing. Those who can provide a 40% deposit or more will usually get the cheapest rates.


    While borrowing rates have risen sharply over the last few months in 2022, many lenders still offer preferential rates for those with a high credit rating or a deposit.


    Whatever your situation, book an appointment today with Penda. We can obtain some of the best deals currently available in the money markets, which are best suited to your budget and needs. And unlike other brokers, we are not tied to any specific providers of homebuyer loans.

  • How Long will it take to get a Mortgage Approval with Penda?

    The initial mortgage approval (agreement in principle) will take around 20 to 30 minutes.


    We will work with you and search for the best loan provider possible so that you can get pre-approved and move forward with your purchase quickly and easily.


    The best way to avoid delays is to contact us as soon as you decide to buy a home and be forthcoming about your current financial situation.


    Once you have agreed on a purchase price for your new property, our team will typically process the formal application. From there, it usually takes one to two weeks to approve the application, enabling your formal offer on the property.


    Some cases may take up to four weeks, but your loan should be agreed upon and processed within a fortnight. Time frames will inevitably vary according to the complexity of the cases and the quality of service the vendors provide.


    The staff at Penda Financial work tirelessly to ensure all mortgages are processed as fast as possible and remove any potential obstacles. We are renowned for our customer service.

Mortgage products explained

The money you lend from your lender is called the 'capital'. Your provider will charge interest on your capital loan until you have completed the loan agreement. You should decide if you want to pay the capital loan and interest repayments on the loan or just the interest instalment payments.

  • Repayment mortgages

    Repayment Mortgages involve repaying both the interest and capital. The monthly loan payments will comprise part of the capital and part of the interest. 


    These payments continue until you complete the mortgage term, usually 25 years. During this period, you will have the option to switch between mortgage deals.

  • Interest-only mortgages

    Interest-Only Mortgages only require that the interest payments only are repaid during the term of the loan. However, the capital part of the loan will still need to be cleared by the end of the loan term.


    Not all lenders and regulators are confident about interest-only mortgages because homeowners, or borrowers, could be left with substantial debt and no way to repay it at the end of the loan term.


    For the capital part of the loan, you need to show a different credible plan to pay this at the end of the loan term. The repayment of this money could be by other types of investments such as stock market investments or pensions.

  • The types of mortgage deals available

    Multiple homeowner loans are available on the market, including fixed rate, variable, discount rate, capped rate, trackers and offset mortgages. Details of these are provided elsewhere on this site. The next decision you have to make is to decide which type you want.


    Most of these financial products come with either fixed or variable interest rates. If you want a fixed interest rate, then choose a fixed-rate option. With fixed rates, you can easily predict how much you will pay monthly over an agreed period. If you do not want a fixed rate, you can choose a variable rate deal where rates could go up or down in line with the Bank of England base rate.


    Our brokers will ensure you get the right type of mortgage best suited to your needs and with the most competitive interest rate. We have exclusive deals with some lenders and access to virtually the whole of the market.

Frequently asked questions:

  • What are the advantages of working with a broker for your mortgage finance?


    - Brokers can help you get the right loan and type of mortgage product for your specific needs.


    - They provide personalised advice based on your financial situation and goals.


    - Their assistance will also save you time due to their experience dealing with loan applications, associated phone calls and paperwork.

  • What is a mortgage illustration?

    The illustration outlines the homebuyer's loan application that defines and explains key points such as the necessary deposit (the down payment) and monthly payments.

  • What will my monthly mortgage payments be?

    There's no one-size-fits-all answer to this question, as the range of mortgage services and rates brokers offer is vast.


    When it comes to monthly payments, the amount you're likely to pay will depend on your type of homebuyer loan, current credit score, the size of the deposit (LTV) and the agreed interest rate (APR%) associated with the mortgage product.


    That said, a professional broker should always provide you with an affordable mortgage package that suits your current financial situation.

  • How much does it cost to get mortgage advice from a broker?

    The fees can vary between brokers and may include charges for mortgage advice, application processing, and a mortgage completion fee.

  • How can I find the best mortgage lender for my needs?

    When looking for the best mortgages and financing deals, contacting financial advisers who specialise in homebuyer loans is best. They are experts in selecting the best products for your unique financial situation. They will compare the rates, fees, and features of the loans to find the right loan provider for you.

  • What are the benefits of seeking professional advice on mortgages?


    1. Brokers can help you find the best mortgage rates for your financial circumstances and credit score.

    2. They have years of experience and can connect you with a lender that will meet your needs.

    3. They can also advise you on all the expected costs, including any deposits, mortgage fees and borrowing limits, to ensure you secure your mortgage as smoothly and quickly as possible.

If you're looking for advice on mortgages in Newcastle upon Tyne, you're in the right place. Our experts are here to help you fulfil your dreams and help you move into your new home.

Contact us today, and let us help you purchase your new property, whether it's your first home or you are moving home. Pick up the phone and call 07789 900359.

Our local mortgage advisory service specialises in advising on the following types of deals;

first time buyer

fixed rate mortgage deals

residential mortgages

remortgage deals

self-employed

buy to let mortgages

Where to buy property in Newcastle upon Tyne

The most popular and desirable places to live in and around Newcastle include Gosforth, Jesmond, the Quayside, Whitley Bay and Tynemouth. For more information on these suburbs simply click on the links provided above.

Where you purchase your property will depend on whether you are a first time buyer, homeowner looking to relocate or a buy-to-let investor.

We have numerous clients, colleagues, friends and family who live in these areas, as well as suburbs in Newcastle that include High Heaton, Heaton, Benton, Longbenton, and Wallsend, North Shields, and North Tyneside.
All financial advice is given by Penda Financial Management Ltd for advising on and arranging mortgages, insurance and personal investments.
Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.
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