How long does it usually take from when my offer to purchase is accepted to when I collect my new house keys?
Typically, the mortgage lender will issue a mortgage offer within a few days to a maximum of a couple of weeks. The work the solicitors do can take a little longer. The whole process can take from 8 to 12 weeks.
I’m self-employed, can I still get a mortgage?
Self employed people are assessed differently to those in employment however, we will find a lender where you fit their criteria. As long as you have 1 to 2 years accounts, we will see how we can help you.
I have a poor credit history with late payments and defaults and even a CCJ, will I still be able to get a mortgage?
Every lender has different criteria and ways of assessing a mortgage application. The amount of adverse credit, how recent it is and whether it has been satisfied can all influence a lender’s decision. If you provide us with a copy of your credit file, we know the lenders who we can approach with your specific circumstances.
Why should I do this through a mortgage adviser and not go directly to my own bank?
Every lender is different and that includes how much they will lend, the products they will offer and their individual lending policy. Your bank will only offer you the products they have, and you will have to fit in with their policy or criteria. There has never been more information available about mortgages. The mortgage market changes daily though, not just the products, but the lending policy too. This can mean that the information available online can change very quickly. All of this can be a minefield for you to manage on your own. Let us use our experience, knowledge and expertise to find you the most suitable mortgage for your circumstances and then take care of applying for the mortgage for you and dealing with the lender on your behalf.
What information do I need to apply for a mortgage?
It helps to have details of your income and expenditure and most lenders will require a combination of bank statements, payslips, proof of identity and proof of address.
I can’t afford the cost of the insurance, why is it so expensive?
Some cover is better than no cover at all. Yes, it can be expensive but if you have a budget in mind, we can get some cover for the budget you have. The cover cost is based on the level of risk, the older we are, the more at risk we are of being diagnosed with a critical illness or being off sick due to long term sickness or stress. If you tell me you have a budget of £30 per month, I will get you the most suitable cover I can for £30 per month, something is better than nothing.
It is one more cost, do I really need it?
We insure our cars, our TV’s, our mobile phones and our homes, yet we seem to think that we ourselves are invincible. “It won’t happen to me” is what we think, yet we are more valuable than any of the items already mentioned. Without our salaries, we cannot pay for the things we have and the things we need. It’s obvious, which would you insure the goose that lays the golden egg, or the golden egg?