As Ex-Forces Veterans we understand better than anyone the need to secure a home with a military mortgage before your career ends and you have to move out of your SFA.
You’re in safe hands with advice from ex-military advisers, whose advice is not only fit for purpose from a military mortgage point of view, but is also up to date with the military lifestyle you currently lead. We’ve spent the last 6 years delivering financial educational awareness briefs worldwide at the invitation of the CoC as well as being ex-military.
Rest assured we aren’t just any old civvy in a suit, who doesn’t have a scooby about the life you lead and the problems faced. We don’t work civilian 0900 to 1700 Monday to Friday hours but have comms via text, WhatsApp, email and Facetime after working hours, to fit in with your FOE. We are experts in military mortgages.
Ideal Home Loans introduces an additional Homefinder Service
Martyn from the Ideal Home Loans team joins the Mortgage and Protection Podcast to talk about a new Homefinder service.
What is the Homefinder Service and why have you decided to set it up?
Buying a home is probably one of the most stressful life events, and no one actually teaches you how to buy a home. There’s a lot involved, from getting a mortgage, finding the right property, negotiating on the asking price, surveys, searches, solicitors… plus things like the Forces Help to Buy scheme.
At Ideal Home Loans we offer different services depending on how confident you are at dealing with each part of the process. Our clients in the armed forces often find it hard to make time to search for a home, so we can now help them with this stage in the journey too by advising on military mortgages.
How does the service work?
First, as Military Mortgage Brokers, we go through affordability and the amount you can borrow, setting your property budget. Then, if you don’t have the time to find and view a property, or you’re stationed overseas, we can take care of this for you.
There are three main elements within the Homefinder Service:
- Property Search service. We seek out homes that match your budget and preferences, then share the details with you. You do the viewing, we negotiate the best possible price and manage the buying process for you.
- Property Finding service. We carry out viewings and produce a written report, plus we video each property for you so you can decide whether it will work for you. Once you’ve made a decision, we can then do all the negotiations and make an offer on your behalf.
- Purchase Management service. If you prefer to find and view a property yourself you can hand over to us at the negotiation stage – we’ll make an offer and take over the purchase process.
Remember that estate agents are paid by the seller so they want to get the highest price. We, meanwhile, work exclusively for you and can often save thousands of pounds off the asking price.
What’s the process?
- Financial Review – we discuss your military mortgage options by looking at your deposit, salary, outgoings and plans. This is free of charge.
- Agreement in Principle – we get you a certificate confirming how much the mortgage provider will potentially lend you. It helps your credibility when making an offer.
- Proposal. We explain how property search works, plus our mortgage broking services, what to expect and the fee.
- Approval. You sign a document, then we start looking for property that matches your requirements.
What are the benefits of the Homefinder Service?
The service is totally optional – it simply depends how much or how little help you think you need from us.
We can do whatever you need, from just arranging the military mortgage right through to doing all the viewings, negotiating… we can even get something called a Power of Attorney signed, which makes us legally your agent to manage everything on your behalf. It means we deal with solicitors, estate agents and so on, and you just get on with your daily military routine and we report back to you.
Another important benefit is that we can often save you 5-10% off the asking price of a home, on top of taking away a lot of the stress.
A final benefit of working with Ideal Home Loans is that we are ex-military, so we know all the terminology you’re used to and what life in the forces is like.
If I’m planning to buy a property soon, should I do anything to prepare?
The best starting point is a general chat with us and we can help you get ready. But it always helps to have a valid passport, proof of address, payslips for the last three months plus three months of bank statements.
To get in touch for a chat, fill out the contact form on the website and we’ll get back to you promptly regarding military mortgages.
“I served throughout the 80s and spent the last six years going out to the BATUS (British Army Training Unit Suffield), BATUK (British Army Training Unit Kenya), BFC (Cyprus) and BFG (Germany), while we were out there delivering financial education briefings to the officers and serving personnel.”
Mortgage Adviser For The Military