FAQ

  • A mortgage is a loan used to buy property. As mortgage brokers, we sit between the person with a borrowing need and the lender. We look at your goals, your business and financial situation and match you to a lender that can provide you with a particular product at the best rate.

  • A mortgage broker works with multiple lenders to find the best deal for you, saving you time and potentially money. Banks offer their own products only, which may limit your options.

  • Generally, you’ll need a deposit of at least 5-20% of the property’s value. A larger deposit can give you access to better mortgage rates.

  • Your mortgage rate depends on various factors, including your credit score, loan-to-value ratio, and the type of mortgage you choose. Market conditions also play a role.

  • The main mistake that we see, is not seeking professional advice to establish your financial situation. As a First Time Buyer, you want to understand how much you can afford on a monthly basis. 

    • Proof of ID (drivers license)

    • Proof of address (utility bill)

    • 3 months bank statements or payslips

  • The process is very similar to getting your first mortgage.

    1.        Find a mortgage broker

    2.        Ask your lender for a closing balance

    3.        Decide which type of mortgage you want (we can help you find one)

    4.        Instruct a solicitor if you’re moving to a new lender

    5.        Affordability checks (make sure your documents are ready)

    6.        Valuation of your house

    7.        Apply for mortgage

    8.        Receive the offer

    9.        New mortgage is registered at the Land Registry