About Riviera Mortgages
Riviera Mortgages was established in 2001 and has over 30 years experience working within Financial Services at its disposal. As Professional advisors based in Torquay, mostly known for offering impartial mortgage advice, we aim to deliver an all round financial advice package. The business is based on delivering tailored, professional, face to face financial planning and support on a long term basis for all our clients.
Experience & Qualifications
Today’s client can come from all different walks of life; experienced landlords with property portfolios to first time buyers who are nervous about taking their first step on to the property ladder. To those that generally don’t have the time, due to work and lifestyle demands, to piece together the whole buying process; liaising and managing all the third parties involved. Clients generally want someone to do this for them but more importantly to do it well. We pride ourselves on the ability to take the stress of buying a property away from the client and assure them that we have everything under control.
We recognise that the introduction of the Mortgage Market Review (MMR) on April 26th 2014, will make obtaining mortgage finance much harder from your local Bank or Building Society. Lenders are now required to evidence current and future affordability of the mortgage transaction and therefore look to lend to only the most secure and straight forward of transactions. Banks & Buildings Society’s can no longer carry out information only mortgage transactions, they have to have qualified personnel to give Mortgage Advice and this will cause issues because they have had to fast track advisors to ensure they meet the regulatory requirements but the staff just don’t have the experience or knowledge to handle complex mortgage enquiries. The regulatory also insisted that the Banks & Building Societies have to carry out a minimum of 3 appointments of at least 2.30 hrs each before a mortgage application can be submitted, which is totally impractical considering lenders operating hours. This will make it more difficult to obtain mortgage finance if your circumstances are even slightly complicated.
The need to obtain professional financial advice is now more important than ever as lender criteria has undergone such a major change, a mortgage which may have been offered last week, may not fit current criteria now. Therefore you need to ensure the Mortgage Adviser you deal with has the skills, knowledge and lender contacts to ensure a smooth mortgage transaction for you.