FAQs

  • 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 best 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.

  • 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.

  • 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  By using a broker you’re protected by the FCA.

  • 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. 

  • What is the difference between Capital and Repayment and Interest only?

    Capital and Repayment is when you pay a small amount off your mortgage each month and the remainder is interest for the mortgage you have borrowed. At the end of  the term of your mortgage providing no changes have been made to your mortgage, it would be paid off in its entirety and you would own your home.  Interest Only is where you never repay any of the mortgage (only the interest element) and at the end of the term this must be repaid by a repayment vehicle or sale of property.

  • If I have a CCJ does this stop me getting a mortgage?

    Yes, this is potentially something we maybe able to help with. 

  • I have had a late payment can I get still get a mortgage?

    This may be possible but it will depend on what this was for, how often and how long ago. There are lenders out there that specialise in this area that we deal with.

  • I’m self-employed. Can you help?

    There are different types of self employed people out there and yes we can find mortgages for self-employed people.

  • I’ve been turned down by my existing lender can you still help me?

    You may not fit their affordability due to changes in circumstance of their lending policy, but often there are other lenders out there that look at cases differently so it is quite possible.

  • How long will it take to get an offer?

    This will depend on the lender, your circumstances and how quickly you get things to us. This can be as little as 4 weeks but we aim to get an offer out in 6 weeks, we have no control over lenders and valuers but we can assure you we are always chasing this to get the mortgage offers through for our clients as soon as possible.