The benefit of engaging the services of a mortgage adviser or mortgage broker is that it will ultimately save you time, effort and money ensuring the journey is seamless and uncomplicated.
There are hundreds of lenders that offer mortgages. Each lender has differing criteria and will likely offer a different level of borrowing to each client. A mortgage broker will do the leg work. They will explore which lender will allow you to borrow what is required, which will accept your specific circumstances, and which one offers the best product taking in to account fees and charges.
A broker will essentially run up and down the high street on your behalf and visit all those lenders that do not have a high street presence.
There are generally 3 types of mortgage adviser to consider
- A Tied Adviser who will usually work for one lender and only have access to their own products
- A Multi Tied Adviser which means the adviser will have access to a specific panel of lenders products.
- A ‘Whole of Market’ Adviser which means the adviser can access the whole of the mortgage market and is unrestricted.
When choosing a Mortgage adviser it is important to know which type is right for you.
Yes, some lenders accept just 1-year trading accounts when considering a mortgage application.
Yes, many lenders will now accept a 5% deposit, the interest rates do tend to be slightly higher than if you were to put more deposit forward and lenders do tend to want a clean credit file.
When considering whether to approve a mortgage Lenders will look at your credit history and the time you have been registered at addresses in the UK. The longer you have accrued history in the UK the better; that said some lenders may look at applications for those that have lived in the UK for less than 3 years.
The process of buying a house typically takes 6-12 weeks depending on the other parties involved in the process.
This depends on the detail, what type of bad credit and when any missed payments or defaults were registered. The positive news is that there are many lenders that will consider adverse credit. This is something we will explore for you.
if you require further information or would like to make an enquiry please contact us
Amanda reviewed our protection policies and managed to secure us a cheaper premium for more comprehensive cover, pleased with the service and nothing was too much trouble, great communication throughout. Highly recommend. Read more...
- Mr & Mrs Ruddy
Amanda was fantastic when i decided to buy my first house, i had a little trouble getting a mortgage but Amanda made sure she got me sorted, right from the word off, Amanda was on the phone with every little update which was very reassuring but also always on the other end when i had questions or qu... Read more...
- Mr Shear
Within 10 months of hard work I decided to sell my first house and move onto my next house which was even better than the first! So again a quick phone call to Amanda In January and by the end of February my first house was sold and I had the mammoth task of moving into my second house! Again Amanda... Read more...
- Mr Woodend
Well where can I start what a whirlwind of 2 years it has been! When I decided to buy my first house, I didn’t have a clue where to start! Within the first day of starting the mortgage process I found Amanda and honestly I wouldn’t look or go anywhere else now! From day one of my first mortgage ... Read more...
- My First House