Expert Mortgage Advice in Banstead and Across Surrey
At PY Financial Services, we’ve specialised in mortgage brokerage since 1988, proudly serving Banstead and surrounding areas including Tadworth, Epsom, Purley, Sutton, Reigate, Redhill, Caterham, and Wallington. Our principal, Paul Young, brings nearly 40 years of expertise, ensuring tailored mortgage solutions for every need. If you’re a first-time buyer, we guide you clearly through the entire process, making your home ownership dream achievable. For those moving home, we simplify complexities, ensuring smooth transitions. Looking to remortgage?
We diligently source competitive deals to help you save money or overcome credit challenges, enhancing your financial flexibility. For investors, our buy-to-let expertise helps maximise your returns with optimal financing solutions. Whatever your mortgage needs, PYFS provides trusted, professional, and personalised advice, grounded in decades of local market knowledge. With our guidance, your financial goals become attainable realities, always backed by clarity, care, and expertise.
First Time Buyer Mortgages in Banstead and Across Surrey
Buying your first home can feel overwhelming. From choosing the right mortgage to appointing a solicitor and navigating legal steps, it’s a lot to manage. That’s where we come in. At PY Financial Services, we guide first time buyers in Banstead, Surrey and beyond with clear, practical advice—making that first step on the property ladder much smoother.
The best place to start is with us. Even if you haven’t found your ideal property yet, we can offer figures and insights to help you budget smartly. Our mortgage specialists will explain the most suitable options based on your circumstances, helping you stay within your means while exploring competitive deals.
How Much Can You Borrow?
Mortgage borrowing depends mainly on your income. Some lenders work from income multiples—typically around four times your salary. Others focus on affordability, looking at your monthly commitments, loans, and living costs. Each lender has different criteria, so it’s wise to let us compare the market for you. Many offer exclusive products designed just for first time buyers.
What Other Costs Should You Expect?
In addition to your deposit and mortgage, other fees will apply. These include:
Stamp Duty, calculated as follows:
- 0% on the first £125,000
- 2% on the next £125,000
- 5% on the following £675,000
- 10% on the next £575,000
- 12% above £1.5 million
Survey and valuation fees, which vary depending on the property
- Solicitor’s fees, for managing the legal process
- Lender charges, which might include booking or arrangement fees
We’ll break all of this down for you so there are no surprises. Whether you’re buying in Banstead, Reigate, Sutton, or anywhere across Surrey, PYFS is here to support you with reliable, friendly mortgage advice every step of the way.
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Moving Home? Trusted Mortgage Advice in Banstead and Across Surrey
Planning to sell your home and move to a new property? Budgeting accurately is vital. At PY Financial Services, based in Banstead and serving clients throughout Surrey, we help you make smart financial choices every step of the way.
How Much Can You Afford to Spend on Your Next Home?
Start by assessing your total available funds. This includes any savings or assets unrelated to your current property, plus the monthly mortgage payment you can realistically manage. From this, subtract your moving costs.
Typical expenses include:
- Estate agency fees (usually 1%–1.5% of your home’s value)
- Solicitor’s fees for selling and buying
- Lender fees, such as arrangement or booking charges
- Removal and transport costs
Next, estimate how much equity you’ll have after the sale. Begin with a property valuation—ask at least three local estate agents for quotes. Then check your current mortgage balance by contacting your lender directly.
Stay Within Safe Borrowing Limits
Most lenders offer mortgages from 3 to 5 times your salary. For joint applications, this might be 2.5 times your combined income. However, don’t rely on lenders to make cautious decisions for you. It’s crucial to avoid overcommitting—especially if interest rates rise.
As a rule of thumb, your monthly repayments should not exceed a third of your net income. We’ll help you explore options tailored to your circumstances, factoring in potential rate increases so you can plan ahead with confidence.
With over 12,000 mortgage products on the market, getting expert advice matters. At PYFS, we’re whole-of-market brokers. That means we search across all lenders to find the right mortgage for your move—whether you’re relocating within Banstead, Epsom, Sutton, or anywhere in Surrey.
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Remortgaging Your Property – Expert Advice Across Surrey
Looking for a better mortgage deal? You’re not alone. At PY Financial Services in Banstead, we help clients across Surrey—including Epsom, Sutton, and Reigate—explore remortgage options that could save money or improve flexibility. However, switching mortgages isn’t always straightforward. That’s why professional advice makes a real difference.
Where to Begin
Start by contacting us. As whole-of-market mortgage brokers, we’ll assess your current mortgage and explain your best options. We’ll check whether you’re tied into your existing deal and whether early repayment charges apply. With that information, we’ll help you decide whether switching now is worthwhile or if it’s better to wait.
What’s Involved in the Remortgaging Process?
We guide you through every step. Here’s what to expect:
- Request an early repayment statement from your current lender
- Complete a new mortgage application with income and ID verification
- The new lender arranges a valuation of your property
- Subject to approval, you’ll receive a mortgage offer detailing the terms
- Solicitors are then instructed to handle the legal transfer and complete the new mortgage
We handle the communication between lenders, valuers, and solicitors to ensure a smooth transition.
How Long Will It Take?
On average, remortgaging takes around four weeks. However, each case is unique, and some may complete faster or take longer depending on circumstances.
Once you receive a completion statement from your new lender or solicitor, your new mortgage is officially in place. At PYFS, we make this process as simple and stress-free as possible—so you can focus on the financial benefits.
YOU MAY HAVE TO PAY AN EARLY REPAYMENT CHARGE TO YOUR EXISTING LENDER IF YOU REMORTGAGE.
Buy to Let Mortgages – Property Investment Advice Across Surrey
Investing in property to rent out can be a rewarding long-term strategy. At PY Financial Services, we’ve been supporting landlords and investors in Banstead, Reigate, Sutton, and across Surrey since 1988. Whether you’re a first-time landlord or growing your portfolio, we offer expert buy to let mortgage advice tailored to your goals.
Are Buy to Let Mortgages Expensive?
Not necessarily. Many lenders now offer competitive buy to let rates, often comparable to standard residential mortgage products. With our whole-of-market access, we can identify the best available options for your situation.
You can choose between interest-only and repayment mortgages, depending on your plans and tax position. Buy to let lending differs from standard mortgages, particularly in how affordability is assessed. Instead of your salary, lenders focus on expected rental income.
How Much Rental Income Do You Need?
Typically, lenders require the monthly rental income to be at least 125% of the mortgage repayment. However, this figure can vary—from around 100% up to 130%, depending on the lender and the product. We’ll help you understand exactly what’s needed and which options are realistic based on the property you’re purchasing.
With nearly 40 years of experience and access to thousands of mortgage products, we’ll find the most suitable deal for your investment goals.
THE FINANCIAL CONDUCT AUTHORITY DOES NOT REGULATE MOST FORMS OF BUY-TO-LET MORTGAGE.
