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About us
It's only reasonable that you would like to know a little more about our background and experience in arranging mortgages overseas.
The managing director of Somerset Mortgages is Dylan Mitchell. Dylan has been a London based financial adviser for nearly eleven years and is also the managing director of the Somerset Group Ltd, which is UK independent financial services firm. Over the years he has owned a number of properties overseas, both holiday homes and investment properties, which adds personal to his professional experience.
How it began
Eight years ago, Dylan Mitchell bought an apartment in Biarritz, France. Seeking a mortgage, finding professional advice turned out to be harder than expected, so he decided to arrange it himself. After that, so many requests came to him for help with French mortgages, that he decided to arrange mortgages on a self employed basis next to his profession as an independent financial adviser. In 2005, he started Somerset Mortgages together with Stephanie Speets. She is in charge of marketing, communication and personnel.
Our clients
From the beginning, our clients were introduced to us by UK mortgage brokers, financial advisers, private bankers and international estate agents. Professionals who would not want to jeopardise their relationship with their clients. Somerset Mortgages was established on a reputation of providing excellent levels of service and getting the job done when no one else could.
Running of the business
In terms of the day to day running of our business, we deal directly with all clients, offering advice on the best way to structure the mortgage and which banks would be most suitable, then we help to complete the application form and collect the supporting documentation. Once the application is complete we then DHL (courier) everything to the bank, in a form that is quick to check and can be passed to the underwriters for processing.
Mortgages overseas are very different to UK mortgages. Finding the "best deal" is not just a case of comparing interest rates. Often the attractive interest rates quoted by the banks only last for 3 - 6 months, before they jump up. You should also consider early repayment penalties, 3% is quite common. If life insurance is required the cost can vary enormously from one bank to another as some banks also include disability insurance. Somerset Mortgages offers advice based on years of experience to help you to avoid these and other pitfalls.
The majority of clients are introduced to us through professional connections, but an increasing number of clients now contact us directly either through "word of mouth" or via this website. Should you wish to contact us we would be more than happy to discuss your requirements.
A summary of our services..........
- We are fully independent international mortgage consultants.
- We provide free initial decisions in principle and mortgage quotes.
- We will help you to "pre-qualify" for a mortgage, so you have peace of mind.
- We will help you with the paperwork and its presentation to the bank.
- We will courier your application to the bank.
- We will monitor your application and provide progress reports, by email or phone.
- We can assist you with finding specialist property insurance, life assurance, international medical insurance, foreign exchange, financial advice, legal advice and tax advice.
Somerset Mortgages is registered with the Data Protection Agency under the Data Protection Act 1998. Our Data Protection Licence Number is PZ981929X are licensed by the Office of Fair Trading (OFT) under the (UK) Consumer Credit Act. Our Consumer Credit Licence Number is 601814.
The basis upon which we act for our clients can be found on the Terms & Conditions page. This outlines in full detail how we act for our clients and how we are paid for the services which we provide. You may wish to look at our Frequently Asked Questions, which provide further details in a number of key areas.
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