Welcome to “In the Spotlight”, the first in an ongoing series designed to help you get to know your Fingerprint Financial Planning team a little better.
First up, prepare to meet mortgage adviser Jonathan Brockman.
A married father of two, at the weekend you’ll usually find Jonathan enjoying time with his children, whether that’s at the cinema with his son or supporting his daughter with sports training and competitions.
He also enjoys eating out with the family, sampling local food, and enjoying days out. During the week, however, he’s dedicated to helping Fingerprint’s clients with all of their mortgage and home-buying needs.
We began by asking Jonathan what he enjoys most about his job
“I love making a client’s house purchase stress-free,” he says. “It can be a daunting process so I like removing these obstacles and getting to be part of such a life-changing moment.
“Clients sometimes have issues that they think will make purchasing a home unachievable. I enjoy being the one to provide solutions to those problems, making their dream home a reality.”
And what has been your most recent success?
“I help clients every week, spending time and effort ensuring I have considered all available mortgage options. My job is to select the most suitable for individual clients, helping them to secure their dream home.
“Occasionally an individual case will stand out. I recently helped a client who had all but lost hope of ever finding a new home. Those can be proud moments.”
Can you tell us more about how you helped this particular client?
“Mr S. wanted to relocate closer to his brother after sadly losing his wife. He didn’t want to part with his current property because of the connection to his late partner, but he felt like it was the only option if he wanted to move closer to his family.
“I recommended letting the property out, allowing him to retain the house while raising additional funds, using the equity for the deposit on a new property.
“I chose a suitable lender with the hope of getting as much money as possible. The lender queried the valuation, had lots of questions, and required a great deal of information, then came back to me with a maximum loan. This meant that they were prepared to lend on the property but not at the top end of what we were asking for.
“By proving that our required level was comfortably affordable for Mr S., I managed to get the lender to overturn their maximum loan decision. The underwriter looked at the additional information I provided and agreed to lend what we required.
“This allowed Mr S. to buy a new home, in his desired location, and he now has family around him. Professional mortgage advice can make a huge difference to people’s lives and that’s the main reason why I do the job I do.”
You’re 21 years old and trying to get onto the property ladder. What three pieces of advice would you give your younger self?
“One, decide if buying a first home is really your most important goal. If it is, prioritise it. Everything else can wait. ‘Your future self will thank you!’
“Two, be cautious with all areas of your expenditure. This includes some obvious, large items like cars and holidays. But cut back on the little things too because they all add up.
“Three, save. It might sound obvious but saving is key. Carefully reviewing your expenditure will help make regular saving easier. You’ll be able to build a deposit while also familiarising yourself with committing to regular monthly payments – crucial for when you get a mortgage.”
What mortgage options are out there for first-time buyers struggling to get on the ladder?
“Well, the good news is that all lenders now offer 95% loan-to-value mortgages, which allow for a smaller deposit. There are also various schemes available.
“Two of the most popular are the Help-to-Buy scheme and the Shared-Ownership scheme. Help-to-Buy can provide a 20% deposit boost from the government while Shared Ownership is designed for those people who can’t raise sufficient funds for a mortgage but can afford to purchase a percentage of a property.
“Shared Ownership comes with the option to increase your percentage of ownership later down the line.
“Some lenders also offer family-assisted mortgages that allow parents to help their children raise a deposit while making income from the deposit they provided.
“Some other options are guarantor mortgages and joint-borrower single-proprietor mortgages, but the list is endless.”
How has Covid-19 and remote working affected your day-to-day role?
“Covid did present hurdles – there were delays with lenders and with furlough showing on clients’ payslips affecting affordability – but I think we’ve seen the back of that now.
“I always prefer face-to-face meetings but remote working has introduced more clients into my portfolio because geography is no longer an issue. It also gives clients more flexibility and can be a lot more convenient.
“This is more than likely here to stay and I think it’s a good thing.”
Do you only deal with residential purchases and first-time buyers?
“Not at all – we also assist people with second home purchases, buy-to-let investment properties, portfolio landlords, and bridging loans.
“We have a holistic approach here at Fingerprint Financial Planning. I always look at my clients’ overall financial circumstances and will refer them to our financial advisers if they have any pension or financial planning needs.”
How do you think the recent rise in inflation will affect interest rates?
“As inflation increases, interest rates tend to increase with it. This, combined with the cost of living rising, will have a negative effect on interest rates.
“For the people who are undecided about whether to buy now, I would certainly encourage you to act sooner rather than later.”
Get in touch
If you’d like to talk to Jonathan or any of our experienced mortgage advisers and financial planners, contact us now. Get in touch by emailing hello@fingerprintfp.co.uk or call 03452 100 100.
