A. Typically lenders will loan a multiple of most income. This can be from 3 x Single or joint income up to about 4 x. Some lenders lend on an “affordability” basis and treat each case on its merits.
As a general guide lenders will try to ensure they lend responsibly although it is also down to the customer to be sure that they can afford the monthly costs associated with taking out a mortgage.
A. Yes, if your circumstances have not changed too adversely, and it could save you a lot of money. A “Mortgage Health Check” is always worthwhile doing at least every few years.
A. For researching the whole of market, preparing a qualified recommendation and submitting the necessary application to the Lender is free of charge. When the mortgage completes we would normally receive a commission from the lender. We also receive a commission from the product provider in relation to any insurance products that we arrange, details of any remuneration we receive will be detailed in the illustrations that you receive.
There are some terms to this but please see the Key Facts about our services.
A. Most offset mortgages are linked to a savings or current account. Instead of earning interest on your savings, your savings balance is deducted from the amount you owe on your mortgage and therefore you only pay interest on the balance. These types of mortgages usually suite the more financially astute borrowers.
A. Most of the time we can offer you exactly the same deal and you’re not going to be obliged to take out their own insurances so hopefully we can save you money
A. This may not be a problem. A lot will depend on how many payments have been missed & whether you may use a mainstream lender or a specialist lender who is prepared to lend in this market.
A. This may not be a problem, everyone at some point in time has problems with repayments, we have lenders who understand this and who can offer you competitive re-mortgage deals to suit your needs and circumstances.
A. This type of mortgage does not require proof of your income, providing you meet the lenders criteria and the mortgage is within your affordability.
A. We also provide Home Information Packs (HIPs) please contact us for details.