In a nutshell, a lender is primarily looking at how a borrower will pay back a loan. This is the principle upon which mortgages are assessed. Usually, most types of mortgages are open to those that are self-employed, company directors, or receive income from multiple…
When considering to re-mortgage your property, you may want to consider the cost of moving from one mortgage to another. Below we give you a snapshot of the fees you may have to pay: Arrangement and booking fee This is a fee that a lender…
A broker cannot get you a bigger mortgage – brokers help in the facilitation of mortgages, depending on a variety of factors. It is important to remember that mortgage brokers work for the clients and not the lender. The broker will carry out relevant research…
No. Mortgage brokers will have access to lenders from across the market, and be able to advise in different situations and provide the buyer specific advice for their circumstances. Mortgage brokers act on your behalf and are the preferred choice for many buyers from residential…
Apart from the usual things, such as deposit, your credit score, monthly repayments etc there is also the matter of legal costs, lender arrangement fees, and valuation fees. Also dependent on the value of the property you may have to pay stamp duty. Lenders will…
You would need between a 25-35% deposit for a commercial mortgage. The deposit amount that you pay will depend on several factors, such as the type of property you intend to buy (office, shop, garage, etc). Also, what your risk level is to the lender,…
To answer this question, let’s first look at what a second-charge mortgage is. Speaking, it is an additional mortgage you take out on your property without having to re-mortgage your current mortgage. There are a variety of reasons why someone may take out a second-charge…
So firstly, what is a mortgage? A mortgage is a loan, secured on a property. It is a way to borrow money from a lender, with the money lent used to purchase a house, with a contractual promise for this to be paid back over…