Buying a property can be the biggest decision made in our lives. It is for this very reason that expert advice is critical from competent and qualified advisers. Whether you are a first time buyer, looking to remortgage, looking for an expat mortgage or even looking to release equity to purchase a holiday home overseas, this is where we excel.
What is a mortgage?
A mortgage is a loan taken out to buy property or land. Many run for 25 years but the term can be shorter or longer.
The loan is ‘secured’ against the value of your home until it’s paid off. If you can’t keep up your repayments the lender can repossess (take back) your home and sell it so they get their money back.
Working out what you can afford
Don’t stretch yourself if you think you’ll struggle to keep up repayments, and also think about the running costs of owning a home such as household bills, council tax, insurance and maintenance.
Lenders will want to see proof of your income and certain expenditure, and if you have any debts. They may ask for information about household bills, child maintenance and personal expenses. Lenders want proof that you will be able to keep up repayments if interest rates rise. They may refuse to offer you a mortgage if they don’t think you’ll be able to afford it.
Applying for a mortgage
You will be asked a range of questions about the type of mortgage you want, if it is appropriate for you and how long your mortgage should last. Depending on your answers, we will be able to recommend a mortgage that meets your needs and circumstances.
You will also be asked to supply documentation to support your application. A quick guide to what we need can be found here.
In the high value mortgage sector we often utilise our well established relationships with private banks and specialist lenders to secure individually tailored solutions for our customers.
Our specialist mortgage service can help you find the right mortgage even if you have a less than perfect credit history. Whether it's past credit problems, a poor credit score or simply your bank saying no, don't give up securing your mortgage until you have spoken to us.
Speak to our advisors today to see how we could help you.
