Although Mortgage Express no longer issues mortgages to new customers, it does still provide several services for existing customers.
Summary of services provided by Mortgage Express to existing customers:
- Help with payment difficulties.
- Planning for the future.
- Making overpayments in order to reduce your mortgage balance.
- Help with finding a better mortgage deal.
- Support for portfolio landlords.
- Help with investment for landlords.
- Help with moving home for lifetime borrowers.
- Options for Lifetime borrowers who want to borrow more money.
- Advice on fees & charges.
- Help with understanding rules and regulations surrounding the mortgage process.
- Advice on rising interest rates.
Mortgage Express services
For Home Owners
Mortgage Express knows that as a homeowner, a mortgage is the biggest financial commitment that you will ever make.
Help with payment difficulties
If you are having trouble paying your mortgage, Mortgage Express will try to help you directly by discussing all available options to see what is best for you. The company will also complete an audit of your finances in order to establish the full extent of your difficulties. The provider will also put you in touch with independent financial advice services who can help you further. There is also a range of self-help tools on the website that can help you manage your money more effectively.
Planning for the future
Mortgage Express can help you plan for the future by reviewing your mortgage. A review will aim to help you further understand your income and outgoings, help you understand the depth of any debts that you may have, help you find sources of free money advice and help you understand your options so that you can fully plan ahead. A customer review takes place informally over the telephone and will discuss your current financial circumstances. To arrange this service, simply call the Mortgage Express contact number.
Making overpayments is a great way to get ahead of your mortgage. Each overpayment reduces your mortgage balance over time and also the interest that you pay on your repayments. You can either overpay monthly or as and when you want to. To see the effect on your mortgage, use an Overpayments calculator. Thanks to Mortgage Express’ flexible mortgages, most of the time you will not be charged for choosing to make overpayments. It is important to consider that you should not overpay what you cannot afford.
Finding a better mortgage deal
Since the nationalisation of Mortgage Express, the company is not able to offer you a new deal should interest rates increase. As a consequence, you may be better off having your mortgage with another provider. If you wish to evaluate this, use the Deal Finder online tool.
As a landlord, your Buy to Let mortgage is an important part of your investment portfolio. Mortgage Express has a specialist team dedicated to helping landlords.
Support for portfolio landlords
The Mortgage Express specialist landlord team will help you if you have a Limited Company mortgage or a total of 5 or more Buy to Let accounts with NRAM, Bradford & Bingley or Mortgage Express. Portfolio landlords can take advantage of a forum of best practice between landlords as well as the team reviewing your income, offering support on managing voids more effectively, rearranging your mortgage accounts and stress-testing your portfolio to help you begin to identify potential issues.
B2L for Landlords
B2L is an information service for Buy to Let landlords. The website and corresponding magazine provide you with extra insight on how to make the most of your investment.
If you are moving home, you may wish to transfer your existing Lifetime mortgage to your new property. If you want to move home and your Lifetime mortgage balance is higher than the maximum, Mortgage Express will request that you repay some of your original loan. Mortgage Express can also assist you if you wish to move home, but need to borrow more money from another lender.
Borrow more money
Mortgage Express is unable to offer more money to Lifetime mortgage holders except in exceptional circumstances. An exceptional circumstance could be if you need to fund essential structural repairs on your property that are not covered by your insurance.