ENDEAVOUR MAGIC MORTGAGES
Mortgages, they are a bit boring, right?
However…
1) They are probably very important to you.
I am guessing you do not spend your free time cruising Mortgage Brokers’ websites for nothing.
2) They are important to us.
Otherwise we would not have a business, or any clients needing us.
From where did the word “mortgage” come?
The word comes from Old French morgage, literally “dead pledge,” from mort (dead) and gage (pledge). According to the online etymology dictionary, it is so-called because the deal dies when the debt is paid or when payment fails.
Unfortunately, the loan does not die if the borrower does. Someone else gets to pay it or sell the asset to pay the lender back.
Sounds a bit doom and gloom… ☹
How about a modern explanation.
A mortgage is an agreement between you and a lender, which gives the lender the right to take your property, if you fail to repay the money you have borrowed, plus interest.
Mortgage loans are used to buy a home, or to borrow money against the value of a home you already own.
Not sure that is any cheerier.
So, in short…
In short, a mortgage “dead pledge” is a loan secured on a property that you purchase or already own. It will probably be the biggest loan you ever agree to, and likely over the longest term you will ever have. It is around for a long time! Some are now as long as 40 years, if you are lucky to be young enough at the time you take it out.
Getting it right is one of your most important decisions.
Interest, Product Fees, Professional Fees and Valuation Fees are all regularly added to your mortgage over the full term you have it, maybe over that long 40 years.
What about us at Endeavour Magic Mortgages?
Looking at the Dictionary:
Endeavour
Noun – an attempt to achieve a goal.
Verb – try hard to do or achieve something.
Magic
Noun – the power of apparently influencing events by using mysterious or supernatural forces.
Adjective – having, or apparently having, supernatural powers – “a magic wand” .
Endeavour Magic Mortgages
We try very hard to influence the best outcomes for our clients, using our supernatural powers (which is industry knowledge, not really a magic wand!), reviewing and advising on your “Death Pledge” Mortgage, and protection – in case the mortgage outlasts your life and your family left behind must manage it.
What can we help with?
Credit Issues and Payday Loans
Foreign Nationals
Purchasing a home
Remortgaging
BTL (Buy to Let) / Investment Property
Overpayments
Mark has over 18 years of experience in the Mortgage industry dealing with a whole range of clients and requirements.
This family run broker business was established in January 2024.
We are an appointed representative of one of the biggest UK mortgage networks with access to the Whole of Market and 12 of the main protection providers.
How does it work?
It all starts with an informal chat to see if we can add some value to your finances. Our clients are at the heart of our business and always will be. This will progress to the formal FCA regulated process when you are happy to proceed.
No cost will be incurred until you have a full knowledge of the best options available to you, previously agreed in principle, with the lender (credit search completed) and you are ready to submit an application.
Your property may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it.
Our initial mortgage consultations and quotes are free with no obligation. If you apply for a mortgage, we charge £99 fee to process an application plus a maximum of £900 on successful completion of the mortgage. This will sometimes be reduced depending on your requirements and circumstances. We will also receive a commission from the lender.
Calls may be recorded for training and quality purposes.
Please note that you may have to pay an early repayment charge to your existing lender if you remortgage.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
As with all insurance policies, conditions and exclusions will apply.
Not all Buy to Let mortgages are regulated by the Financial Conduct Authority.
Endeavour Magic Mortgages undertakes credit broking and is not a lender. We offer an unrestricted range of first charge mortgages, but do not offer second charge lending or bridging finance.
Endeavour Magic Mortgages is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority. Proprietor: Mark Collins.
FCA 1007248
Link to FCA Register: https://register.fca.org.uk/s/
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