We are currently experiencing technical difficulties with our telephone system.
We apologise for any inconvenience and are working to resolve this as soon as possible.
Evolution Money
Customer Enquiries 0161 814 9158
This website uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Continue

Buying a home is the biggest purchase we will ever make

Choosing the Best Mortgage

Home > Help & Advice > Finance FAQs > Choosing the best mortgage

For most of us, buying a home is the biggest purchase we will ever make. Few of us are lucky enough to have the cash available to buy a house outright, so that means getting a mortgage to fund the purchase. With such a major financial decision, it is imperative that we take time to ensure that we get the best mortgage possible to meet our needs and circumstances. Clearly, this requires a little homework to be done, but with a little planning this shouldn’t be too arduous.

The mortgage market is vast, and there are literally thousands of options available. This can look confusing at first, but it also means that it is extremely competitive and there are good deals available. There is more good news in that there is plenty of advice out there, and a quick search will reveal a number of mortgage advisors who can help you.

You should also make an appointment to go along and see your bank or building society to see what they have on offer. Remember, though, to also do your own research and learn as much as you can about the sorts of mortgages on offer and the pros and cons of each one.

Thankfully, there is legislation in place to help make sure that you benefit from good-quality advice. The government brought in new rules in April 2014 which set out guidelines for brokers and lenders. This means that they must offer you the most suitable mortgage for your aims and circumstances.

They will need to assess your income and expenditure in order to make sure that the mortgage you are applying for is one that you can afford. You are not duty bound, however, to accept any advice, and you may choose a mortgage based on your own research. If you choose to do so, this is known as an ‘execution-only’ mortgage application.

Although you can choose your own mortgage, there are good reasons for taking the advice of an advisor. In doing so, you provide yourself with more protection should something go wrong. If it turns out that the mortgage recommended is not the right one for you, you will have more rights when it comes to making a complaint.

Making an ‘execution-only’ application could also lead to a rejection if you haven’t properly understood some of the conditions of the mortgage. Even if you are accepted, it could result in you being tied into an expensive and unsuitable deal.

It is also important to be aware of the different type of advice you can obtain. Your bank and building society will probably offer mortgages, and they will be more aware than most of your financial circumstances. You may even have some existing financial products with them, such as home improvement loans. The advice you get here will most probably be free, but it will concern only the bank’s own products. That is not to say that it will be unsuitable, and they are certainly worth considering against other offerings on the market.

Other sources of advice include mortgage advisors. These independent brokers are experts on the market and can look at a wider range of mortgage products. It is important to know that some advisors are tied to one lender and will only advise on their products. Others will advise on a wider but still limited range of lenders and products.

To get the widest possible choice, you should select a broker who is ‘whole market’, but it is worth noting that even those brokers may not be able to offer products that are sold directly by a particular lender. Once you have got your loan, a whole new range of financial products are open to you, such as homeowner loans, which can often be secured at very competitive rates.

Warning: Late payment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

How our customers rate us

We’re proud of the high standard of our customer service and believe that each of our customers should be treated as an individual.
Evolution Money 90 out of 100, based on 112 reviews over the past year. 112 user reviews. Read our reviews

Members of the The Finance & Leasing Association

FLA logoThe Finance & Leasing Association is the leading trade body for the motor finance, asset finance and consumer credit industries in the UK.

Socialise

Feeling social? Check out our social pages!

Tweet us on Twitter
Like us on Facebook
Pin us on Pinterest
Add us on Google+

Our Address

Evolution Money,
9 Portland Street,
Manchester,
M1 3BE


Registered Company Number: 06987852

Contact by Phone

General Enquiries:
0161 814 9158

Complaints:
0161 814 9165

Contact by Email

Evolution Money Limited is a licensed credit broker and service provider to Evolution Lending Limited. If your application doesn’t meet the underwriting requirements of Evolution Lending Limited we may pass your information to other lenders and brokers. Evolution Money Limited is a company registered in England & Wales, registration number 06987852 and registered at 8 St John Street, Manchester, M3 4DU. Authorised and regulated by the Financial Conduct Authority, firm reference number 708324.

© 2018 Evolution Money | Cookies | Complaints Policy | Breaking Down Our Loans | Terms & Conditions | Fair Processing Notice
Apply Online
I want to borrow £
You will need to read and agree to our Fair Processing Notice before continuing. *
You will receive a call today to continue with your application.
Thank you for taking the time to fill in our online enquiry form. Unfortunately in this instance we won't be able to help as being a homeowner is one of our primary requirements.

Fair Processing Notice

Who we are:

Evolution Money Ltd, Progressive Money Ltd and Evolution Lending Ltd are all wholly owned subsidiaries of Darwin Loan Solutions ('the Group').

We take your privacy seriously and will only use your personal information to

A) Discuss loan offers and provide you the products and services you have requested.
B) If you become our customer it will also be used to manage your loan.

We'll keep your details for up to 12 months to enable us to help you with your loan enquiry. If you don't become our customer we will delete your enquiry details unless regulations say we must keep them for longer.

This won't change any marketing preferences you've already chosen.

How we control and process your data:

Our companies hold and process your personal data in accordance with Data Protection law in the UK. We are committed to maintaining the privacy and protection of all personal data collected in connection with our broker and loan services. We may share your information with credit reference agencies and other companies for use in credit decisions, for fraud prevention and for collection purposes.

Next

Marketing Contact preferences - putting you in control:

We would love to tell you from time to time about offers and special deals on loans, insurance products and utility services which may save you money.

If you're happy to be contacted about these, please click the boxes to tell us how you want us to get in touch with you.

You can change how we contact you at any time by simply getting in touch with us on FPNandmarketing@darwinloansolutions.co.uk or 0161 814 9210.

Your choices do not affect your enquiry/loan application in any way.

BackNext

Marketing Contact preferences - Our partners:

We would love to tell you from time to time about special offers and deals from our carefully selected partners.

If you're happy to be contacted by them please click the boxes to tell us how our partners can get in touch with you.

You can change how we contact you at any time by simply getting in touch with us on FPNandmarketing@darwinloansolutions.co.uk or 0161 814 9210.

Your choices do not affect your enquiry/loan application in any way.

BackNext

Please read the full details of our Fair Processing Notice including Credit Reference Agency Information Notice (CRAIN) Click here to see a copy of the CRAIN.

If you agree to our Fair Processing Notice and want to continue to the next stage - click Agree.

BackAgree

Start Here
Please wait

Please wait

Don't leave just yet!

Evolution Money are a multi Award Winning UK finance company with thousands of happy customers!

Award Winning

Our friendly loan advisors can let you know if you're eligible for a loan without affecting your credit score. Why not give us a call today!

Freephone 0800 144 8188

Back to Evolution