We understand that you will have many questions about the process of getting a mortgage and whether you are likely to be eligible or not. So we have put together a handy list of the questions we get asked most often, together with the answers.
If you have any other questions please get in touch with us and we will be happy to meet you in person.
What is the process of getting a mortgage?
At first all it involves is a simple conversation with an adviser to find out what you want to achieve. For example, if you are buying your first home, or want to remortgage to a better rate. Your adviser will talk to you about what the different options are and will find the best way for you to achieve your mortgage and house buying aspirations.
Do I have to take out insurance?
The only insurance that is compulsory is buildings insurance. However, we strongly advise that you also insure both the contents of your home and yourself in case you find yourself in a position where you cannot pay your mortgage. Your mortgage adviser will talk you through the different options though and will look at the different costs of doing so, finding you the best solution for your budget if that is right for you.
Are there any fees?
We offer completely free mortgage advice. If we successfully help you to take out a mortgage then we get paid by the lender that your mortgage is with.
I don’t have a solicitor, what do I do?
It doesn’t matter if you do not already have a solicitor, many people don’t. We are happy to recommend you a solicitor that has done a good job for our other clients. We work with a range of very good solicitors who can make life easier for you during the mortgage and house buying process.
Do I need to have a survey done?
If you are buying an older house or if there is any doubt over the condition of the new home you are buying, then it is generally a good idea to have your own survey done to identify any future repairs you may need to do or problems you may have with the house. The lender always commissions a valuation report but this is not a survey. They do this to ensure that the house is worth the amount of money that they are thinking of lending you so they know how much they can sell it for should they need to repossess it at some point in the future. Your mortgage adviser will talk to you about the various options available to you should you choose to take them, and can also put you in touch with a choice of surveyors if this is the best option for you.
Do you deal with Help to Buy mortgages?
Yes, we deal with a whole range of Help to Buy mortgages including the Help to Buy ISA to help you save for your new home; one that will help you buy a new build home and help you with your deposit. There is even a specialist Help to Buy scheme if you are in the armed forces. Get in touch with us today and we will take you through the various options that you might be able to take advantage of.
I don’t have much of a deposit. Can I still get a mortgage?
Very often you can. It is even possible to get a mortgage with no deposit at all at the moment, known as 100% LTV mortgage. Come and talk to us and our qualified mortgage advisers will be able to tell you if it’s possible for you.
We are looking to buy a new build house. Do we have to buy through the builders who recommended you? Can we still use you to get a mortgage if we don’t buy their house?
Yes! We get recommended by a number of large house builders, but we act on your behalf and we are completely independent of any house builder. While it is really great that the quality of our mortgage advice is of such a high standard that house builders recommend us, we work totally independently, with your best interests at heart.