FAQs

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.

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