Mortgage Services

Welcome to Abbot Mortgage Solutions.

Abbot Mortgage Solutions are located at Sample Mills estate agent office in Bank Street, Newton Abbot. Andrew Kench, a practitioner with over 20 years' experience in the financial services industry, is on hand to offer a professional and impartial mortgage advice service with access to the 'whole of the market' and exclusive products. First time buyers and existing home owners can be assured of him finding the most suitable mortgage deal whether they are purchasing a new property or re-mortgaging. Andrew also provides Life Assurance advice and services.

Get in contact with Andrew Kench on 07775 701019 to discuss your requirements so you are ready to move as soon as you find the right property.

Mortgage Tips

Our guide to help you navigate the complex world of mortgages.

The rule of thumb is to never stretch yourself so you can’t keep up with mortgage repayments. Make a list of your expenditure per month; household bills, council tax, insurance and leisure activities so you are fully aware of financial obligations and can work out what would be a realistic amount to borrow.

You can apply directly to a bank or building society for a mortgage. Alternatively, mortgage brokers and independent financial advisors (IFAs) can compare different mortgages from all lenders on the market, including ones that are not directly offered to customers. There might be a fee involved, but a broker or IFA could save you money as well as time and stress ploughing through all the mortgages out there on the market.

You will be asked a series of provisional questions by your potential lender or broker in order to work out what kind of mortgage you require. Your financial situation will also have to be established to figure how much a lender might be able to lend you. An Agreement in Principle (AIP) isn’t required but estate agents do prefer to have that information to hand during a property hunt.

An in-depth assessment will be undertaken during which the applicants need to provide evidence of income, expenditure, plus future plans and financial security will be scrutinized. If an application has been accepted, you will receive a commitment offer and a reflection period during which the offer cannot be altered.

Once the commitment offer letter has been signed by the applicant and returned to the lender, the lender will arrange for a qualified surveyor to check out the value of the property you are interested in. This is to make sure they will lend against it. If all is well, your solicitor or conveyancer will handle all dealings with your lender until completion on the property.

We hope this has covered any questions you might have.

Get in contact with Andrew Kench on 07775 701019 to discuss your requirements so you are ready to move as soon as you find the right property.

Mortgage FAQs

Our guide to help you navigate the complex world of mortgages.

A deposit goes towards the cost of the property you are buying and the more deposit you have the lower your interest rate will be. Cheaper interest rates will be available for a 40% deposit. Currently a minimum deposit amount of 5% is usually required to obtain a mortgage, so the mortgage lender would lend you 95% of the property’s value.

Abbot Mortgage Solutions are impartial mortgage advisors with access to the ‘whole of the market’ and exclusive products. This means we will recommend what we consider to be the best mortgage to meet your requirements, with your best interest at the forefront of our service.

The cost of the mortgage is governed by three things, the amount borrowed, the term of the mortgage and the interest rate charged and therefore is quite specific to each individual. A general rule of thumb would be about one third of your total take home pay would be the maximum that most lenders would provide a mortgage for.

Re-mortgaging is where you switch the mortgage on your home to another lender to potentially gain a better deal and lower monthly payments.

Life assurance gives you the comfort of knowing that your loved ones will be provided for should you die. There are many ways to arrange life cover and we can help you find the most appropriate plan available. When linked to a mortgage Life assurance ensures that in the event of death your mortgage will be repaid. This means that your dependent will be left with a mortgage-free roof over their heads.

We hope this has covered any questions you might have.

Get in contact with Andrew Kench on 07775 701019 to discuss your requirements so you are ready to move as soon as you find the right property.

Mortgage Calculator

Use our mortgage calculator to get an idea of how much you would need to borrow to purchase your ideal property and what your monthly payments would be. The calculator is intended as a guide only. Sample Mills can recommend suitable independent advisors that will ensure you understand the mortgages available and guide you through the buying process.

Get in contact with Andrew Kench on 07775 701019 to discuss your requirements so you are ready to move as soon as you find the right property.

Fees & Terms

There may be a fee for arranging a mortgage and the precise amount will depend on your circumstances. This will typically be £350.

Get in contact with Andrew Kench on 07775 701019 to discuss your requirements so you are ready to move as soon as you find the right property.

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