• What is the mortgage process?

    We have an initial chat, complete a fact find and request some documents, do some research, explain to you what is the most suitable product based on your criteria and then look to do a decision in principle. If you are accepted we submit the full application and send the request documents to the lender. These will be assessed and when they are happy they will instruct a valuation. Once the valuation is back this will be assessed and if satisfactory will be sent for final checks and then your mortgage is offered. It is advisable to look at Protection and Buildings and Contents, which we also offer an advised service on.  The next part of the mortgage process is down to your solicitor.

  • How much can I borrow?

    This will depend on your personal circumstance as they are individual to you together with any outstanding loans or finance you may have and children also come into the equation. This will be dependent on the mortgage lender chosen, which is why we are here for you.

  • What deposit do I need?

    This will vary on the type of property that you are buying but it can be as little as 5%.

  • Do I need a survey and if so what type?

    You have to have a standard survey to ensure the property is satisfactory to lend on for mortgage purpose, a home buyers report is good for properties that need a more in-depth survey for peace of mind as they will check for structural issues, subsidence, damp and any other issues. They may suggest you have more inspections like an electrical check or a full structural check to protect you from further issues.

  • Do I need life cover if I have a mortgage?

    Mortgage Lenders like you to have insurance in place because if anything was to happen; for example you have bought your home in joint names and one of you were to die it may not be possible for you to keep the house due to affordability and whilst you are grieving you could also lose your home at the same time and this would then  add to a nightmare scenario and make things far worst.

  • Do I have to use my Estate Agents Mortgage Broker?

    No you don’t! Despite what they may say there is actually a conflict of interest using their broker as they are actually also working for the seller and this can result in you having to pay more for the property. 

  • Can you get me a Decision in Principle?

    We can get you a decision in principle and the result will depend on your credit history and the criteria of the lender, hence why it is important to go to the right lender, nobody wants several credit searches on their file as this can impact your credit score significantly. You just need to give us a call and arrange an appointment and we will complete a fact find and go from there.

  • What is an offset mortgage?

    This is where you have a bank account that you have your everyday money or savings in that is deducted from the mortgage balance and your payments are either slightly lower or the loan is repaid earlier. Both the savings account and mortgage provider must be the same.

  • Why do I need a broker?

    It is best to use a mortgage broker for the following reasons:- they have access to a representation of the whole market and most often have exclusive broker only deals; this coupled with the fact that they can give you the best advice and they know how the affordability works with each different lender (it is important to note that all lenders have different criteria).  If you go direct to a bank they can only advise on their products. If you use the internet to search you are advising yourself and this can result in the case being declined due to affordability or the fact that it does not fit their criteria.

  • What is the difference between a fixed rate and a variable rate?

    A fixed rate will stay the same for a set period whilst a variable rate will increase or decrease in line with the bank of England base rate or the lenders own standard variable rate.