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Mortgage and Insurance Brokers In Carlisle & Dumfries

Are you looking to get the most suitable mortgage rate for your unique circumstances from a mortgage broker near you?

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Welcome to Richard Jennings Mortgage Services, where our mission is to help you navigate the complexities of mortgages and insurance with ease and confidence. With over 20 years of industry experience, we’ve grown into a trusted, award-winning brokerage, serving clients across Dumfries and Carlisle. Whether you’re searching for tailored mortgage solutions or comprehensive insurance cover, we’re here to provide expert guidance every step of the way.

At the heart of what we do is a commitment to delivering personalized advice. We understand that no two clients are the same, and that's why we take the time to get to know your specific needs—whether you’re a first-time buyer in Dumfries, looking to remortgage your property in Carlisle, or seeking income protection insurance to secure your future. Our goal is to ensure you make informed decisions with confidence.

A key advantage we offer is our new mortgage and insurance advice center in Dumfries, where you can meet with our team face-to-face. Grab a coffee, ask your questions, and benefit from expert advice in a welcoming, relaxed environment. Whether you’re seeking the best mortgage rates, exploring home insurance options, or protecting your income, our dedicated team is here to help.

We know the importance of choosing the right insurance cover, and we believe that cheap isn't always best. Too often, hidden small print or excessive excesses can lead to claims being rejected when you need it most. That’s why we emphasise comprehensive home insurance policies that offer full protection. Our approach focuses on finding the right cover at the right price, ensuring you’re protected without compromise.

At Richard Jennings Mortgage Services, we don’t just work in the community – we’re a part of it. With a deep connection to Dumfries and Carlisle, we’re dedicated to giving back and supporting local initiatives. Our passion for helping others extends beyond finances, and we’re proud to make a positive impact in the areas we serve.

Let us take the stress out of your mortgage and insurance journey. With Richard Jennings Mortgage Services, you’ll experience a brokerage that offers not only expert advice but also a personalised touch, making sure your financial security is always our top priority.

Mortgage Advisors in Carlisle & Dumfries

RESPECTED | TRUSTED | RECOMMENDED

What sets us apart? We have access to over 90 banks and building societies, offering more than 12,000 mortgage products. This allows us to provide a whole-of-market suite of mortgages—whether you're a first-time buyer, looking to remortgage, or seeking buy-to-let options, we have the perfect mortgage to suit your needs. We are so confident in our ability to find the right solution, we believe there's no one better equipped to support your financial journey.

When it comes to insurance, we partner with a wide panel of trusted insurers, including 5-star Defaqto providers, ensuring you receive the most comprehensive cover at competitive rates. Whether it's home insurance, life insurance, or a protection plan tailored specifically to your family’s needs, we ensure you have the peace of mind that comes from knowing you’re fully covered.

Your Home (or property) may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it.

Our Services

A young couple buying their first home

Independent Mortgage Advice in Carlisle & Dumfries

Advantages of Using Mortgage Brokers

While considering the pros and cons of banks and brokers, it becomes evident that mortgage brokers offer several unique advantages. Primarily, we provide a broad range of products since they have access to 90+ mortgage lenders and thousands of mortgage rates. This allows us to tailor our advice and services to your specific needs and financial situations, unlike banks that can only offer their own products.

Furthermore, as mortgage brokers we can potentially save clients both time and money. We handle the legwork involved in securing a mortgage, from seeking out the right deals for our clients own unique circumstances to liaising with lenders, solicitors, and surveyors. This not only simplifies the process for you but also potentially speeds it up.

Another significant advantage is that we often have access to exclusive deals not available on the open market. This ability to source unique options can potentially result in substantial savings over the term of the loan.

Lastly, as mortgage brokers we pride ourselves on our personalised service. We work directly with clients, offering advice and guidance throughout the process, and our goal is to find the right mortgage product at the most competitive rate.

 

This level of commitment to individual needs often translates into high customer satisfaction as is reflected in our reviews across multiple platforms and in the awards we win.

Contact

Dumfries Advice Centre

16 Whitesands

Dumfries

DG1 2RR

Carlisle Office

Pacific House Business Centre

Parkhouse

Carlisle

CA3 0LJ

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  • What Is the Eligibility Criteria for Applying for a Fixed Rate Mortgage?
    To qualify, you'll need a good credit score, stable income, and a low debt-to-income ratio. Lenders also consider your employment history. It's not just about net worth, but your ability to make consistent payments.
  • Can I Switch to a Fixed Rate Mortgage From A Variable rate mortgage.
    Yes, you can switch from a standard variable rate to a new fixed rate. You can do this through requesting a remortgage, which is moving your mortgage from one lender to another. You can explore this more on our remortgage page. Alternatively it may be financially beneficial to remain with your current lender and seek a new product with them.
  • Are There Any Penalties for Late Payments on Fixed Rate Mortgages?
    Yes, there can be penalties for late payments. It's important to review your mortgage offer carefully, as terms may vary. If you are worried about your finances or struggling to meet your mortgage payments it is always advisable to contact your mortgage lender as soon as possible. Remember, your mortgage is secured against your home (or other property) and failing to maintain your payments can result in repossession.
  • Can I Remortgage Before My Fixed Rate Ends?
    Yes, you can remortgage before your current fixed rate deal ends. However, you'll likely face early repayment charges. It's crucial to weigh the costs of remortgaging against the potential savings. Your early repayment charges will be available to view on your mortgage offer, by speaking to your lender or liaising with your mortgage broker who can obtain these for you.
  • Are all mortgage brokers whole of market?
    When it comes to the range of products they offer, not all mortgage brokers are whole of market. Some brokers have limited access, which means they can't provide you with all the options that might be beneficial for you. They might only be able to offer the products from a select group of lenders. In contrast, whole of market brokers have access to a wider range of products from various lenders. They aren't tied to any specific lender, allowing them to provide you with the most suitable mortgage deal that fits your individual needs. Here's a quick rundown of what to expect from both types: - Limited access brokers mightn't provide a full spectrum of options, which could cause you to miss out on a better deal. - Whole of market brokers can offer a greater variety of mortgage products, increasing your chances of finding the perfect fit. - Brokers with limited access may speed up the mortgage process, but at the potential cost of a better deal. - Whole of market brokers might take longer to finalise your mortgage due to the wide range of options they explore, but it's worth it if you end up with a better deal.
  • Are there any risks to not getting advice from a broker?
    Skipping professional advice from a mortgage broker could expose us to certain risks. It's easy to fall into the trap of thinking we've got it all figured out. After all, we've got countless online resources at our disposal. However, without a broker's expertise, we're likely to encounter some challenges. There are several potential pitfalls we could stumble into: Lack of Access to All Options: Brokers have access to a wider range of mortgage options than we do as individuals. Without their guidance, we might miss out on a better deal. Risk of Overpaying: Without a broker's knowledge of the market, we could end up accepting a mortgage with higher interest rates or unfavorable terms. Complex Process: Navigating the mortgage process can be complex. A broker's expertise can streamline the process and reduce the risk of errors. Time-consuming: Searching for the right mortgage, negotiating terms, and handling paperwork can be time-consuming. Brokers can handle these tasks on our behalf, freeing up our time Regulatory Protection: If you do not take advice and the mortgage later turns out to have been unsuitable for you then you do not receive the same levels of consumer protection offered through the Financial Conduct Authority, Financial Ombudsman and Financial Services Compensation Scheme
  • When is the best time to get a mortgage broker?
    Given the potential pitfalls of navigating the mortgage process without professional guidance, it's crucial to determine the ideal timing to bring a mortgage broker into the picture. We believe the best time to engage a broker is at the very beginning of your home buying journey. Before you even start looking at properties, a broker can provide a clear understanding of your borrowing capacity, which can significantly streamline your property search. They'll assess your financial situation and give you a realistic idea of how much you can borrow. This can prevent the disappointment of falling in love with a property that's beyond your budget. Furthermore, when you're ready to secure your mortgage, a broker's expertise can prove invaluable. They can negotiate on your behalf, potentially securing better interest rates or terms than you could achieve alone. They'll also guide you through the paperwork, ensuring all necessary documentation is correctly completed and submitted. In essence, the earlier you involve a mortgage broker, the smoother your property purchase journey can be. They'll help you make informed decisions from start to finish, providing a pivotal role in securing your dream home.
  • What questions should I ask my mortgage broker?
    To ensure we're getting the best possible deal, it's crucial you ask your mortgage broker the right questions. First, you should ask about their experience and qualifications. It's important they've a deep understanding of the industry and the necessary credentials to back that up. Next, you must inquire about the types of mortgages they offer. Not all brokers offer all types of mortgages, so we need to ensure they can provide the home loan that suits our needs. You should also ask about fees. While we're often focused on the interest rate, it's just as crucial to understand all the fees involved.
  • Do you charge a fee?
    We charge a fee for our services, of £425, because we are confident we offer invaluable services to our clients. We act as the intermediary between yourself, as the borrower and the mortgage lender. In addition to this we will liaise with the estate agents involved and your conveyancers to speed the process along. As we are whole of market we have access to a wide range of lenders and mortgage products, including those that are not widely advertised. This means that we can often find loans with lower interest rates and better terms than borrowers would be able to find on their own. Overall, however, many clients as is seen from our reviews, tell us that the fee for our services was worth the payment for the time, lack of paperwork and stress we remove from the process. Obtaining a mortgage whether a first time buyer or an experienced portfolio landlord can be a stressful time, as our clients our goal is to remove this for you and make the process as streamlined as possible.
  • What is a first time buyer
    A first time buyer is a person who is purchasing a home for the first time. Many lenders offer special programs and incentives for first time homebuyers, such as a smaller deposit, fee incentives and better mortgage rates. In addition to this as a first time buyer you may be eligible to use your help 2 buy ISA's as part of your deposit. For first time buyers, the threshold for paying stamp duty is much higher. There are exclusions from being a first time buyer to be mindful off, typically for instance if you are buying with a partner who has owned a home before then you would normally not qualify for these benefits.
  • First Time Buyer in Scotland
    We offer a wide range of services to help first-time buyers across Scotland, including those in Glasgow, Edinburgh, Carlisle, Dumfries as well as other areas, to secure a mortgage. Our highly experienced mortgage brokers will work closely with you to understand your unique circumstances and help you navigate the complex mortgage application process. We can advise you on the most suitable mortgage product to fit your needs, provide you with expert guidance on how to improve your credit score, and help you understand how much you can borrow. Additionally, we offer support with the paperwork involved in the mortgage application process. Our goal is to make the process as stress-free as possible while ensuring that you secure the right mortgage product at the right rate for you. We understand that buying your first home can feel daunting, which is why our approach is focused on providing personalised guidance and support throughout the process. With our expert knowledge of the Scottish property market and close relationships with lenders, we are ideally placed to help you secure the right mortgage for your needs. We are committed to providing transparent advice and excellent customer service, and we work hard to ensure that our clients come away feeling confident and ready to take the next steps in their homeownership journey.
  • Do first time buyers pay stamp duty?
    Yes and no. Stamp duty is a tax paid on residential property purchases over a certain value in England and Northern Ireland. At present you can buy your first home up to a value of £425,000 without paying any stamp duty on this. As the rates of stamp duty can change before proceeding we would always recommend you visit the governent site to calculate your own stamp duty on potential properties to avoid incurring large unexpected bills later down the house buying process https://www.gov.uk/stamp-duty-land-tax/residential-property-rates
  • Does a mortgage decision in principle guarantee a mortgage?
    No, a mortgage decision in principle is not a guarantee that a mortgage will be approved by the lender. A decision in principle, also known as a mortgage promise or agreement in principle, is a preliminary assessment of whether someone is likely to be approved for a mortgage, based on their income, credit score, and other financial factors. The assessment is typically based on a soft credit check, which does not leave a footprint on the person's credit report. While a decision in principle can be useful for indicating a person's borrowing power and giving them an idea of what they can afford, it is not a formal offer of a loan. A full mortgage application would still need to be made and assessed by the mortgage lender, who would consider additional information such as the property being purchased, the deposit amount, and the borrower's employment status. It's important to note that the decision in principle is not a guarantee of the interest rate, as this will depend on the lender's assessment of the full mortgage application. Additionally, a decision in principle is typically valid for a limited period of time, and if too much time has passed between the decision in principle and the full application, the lender may need to reassess the borrower's financial situation.
  • Do First Time Buyers Pay Stamp Duty in Scotland?
    In Scotland, first time buyers are exempt from paying the Land and Buildings Transaction Tax (LBTT) on properties up to £175,000. However, if the property is over £175,000, first time buyers will be required to pay LBTT on the portion of the property price that exceeds £175,000. We can help first time buyers understand their stamp duty obligations and guide you through the process of purchasing their first home in Scotland. We will provide personalised advice and support to ensure that first time buyers have a smooth and stress-free home buying experience.
  • What are the eligibility criteria for applying for a UK tracker mortgage?
    To be eligible for a tracker mortgage, you generally need to meet certain criteria. This includes having a good credit score, a stable income, and the ability to provide a deposit of at least 5% of the property value. The lender will assess your income and outgoings to determine how much they are willing to lend you. You'll need to provide documents such as payslips, bank statements, and proof of ID and address. The terms and conditions of each UK tracker mortgage may differ, and lenders may also consider factors such as age, employment status, and the property type and location.
  • Can a Tracker Mortgage Be Transferred to Another Property?
    Yes, you can transfer a tracker mortgage to another property. It's called 'porting'. You'll need to meet your lender's criteria for the new property and may have to pay a fee, so it's worth checking. Please refer to our homemover page for more information on porting.
  • What Happens to My Tracker Mortgage if the Bank of England Base Rate Drops to Zero?
    If the Bank of England base rate drops to zero, your tracker mortgage rate will also decrease. You'll see a reduction in your monthly payments as they're directly linked to the base rate, remember however that your mortgage tracker may have a collar linked to it. A mortgage tracker collar is a limit below which your rate will not decrease regardless of what happens to the Bank of England base rate. Full details on this can be found within our Tracker Mortgage Page
  • How Does the Early Repayment Charge Work With a UK Tracker Mortgage?
    If you decide to repay your tracker mortgage early, you'll usually face an early repayment charge. It's typically a percentage of the loan you're repaying, but the exact amount can vary based on your lender's terms, remember some lenders tracker products are available with no early repayment charges.
  • What happens to my tracker mortgage if the Bank of England base rate changes?
    Tracker mortgages are directly tied to the Bank of England (BoE) base rate, meaning that any changes to the base rate will affect the interest rate on your mortgage. If the BoE base rate increases, the interest rate on your tracker mortgage will also increase, which means that your monthly payments will also increase. On the other hand, if the BoE base rate decreases, so too will the interest rate on your tracker mortgage, ultimately resulting in lower monthly payments. For example, if you have a tracker mortgage with an interest rate that is set at 2% above the BoE base rate, which lets say is 3%, then you would pay a rate of 5%. Let's pretend the BoE base rate increases to 4%, you would now pay a rate of 6%, as the example product above is BoE base rate + 2% Conversely, if the BoE base rate decreased from 3% to 2%, your interest rate would decrease to 4%, as the product example above is BoE base rate + 2%
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