During your free mortgage consultation, your dedicated Mortgage Advisor in Oldham will get information from you regarding your personal and financial mortgage situation. They will try to get an in-depth understanding of your mortgage needs so that they can try and find the perfect mortgage product for you.
Once your consultation is complete, your Mortgage Advisor in Oldham will begin searching for mortgage products on your behalf. They will not only try and find the most competitive deal that will save you money, but they will also look at ones that will match your personal and financial situation perfectly.
The first step is for you to fill out our Fact Find so that we can get an idea of your current personal and financial situation. This information will be passed over to your own dedicated Mortgage Advisor in Oldham, who will be in touch to schedule your free mortgage consultation. During this meeting, your advisor will learn a little more about you so that they can pick out a mortgage deal tailored to you.
After your consultation, a credit check will be carried out on you in order for you to obtain an Agreement in Principle (AIP). If everything is okay and you are happy to proceed, we will get some documents from you to back up your application.
With your AIP, submitted evidential documentation and a perfect mortgage offer that you’re happy to continue with, you can move onto the last stage – mortgage application submission!
Having an Agreement in Principle in place prior to viewing houses in Oldham, may boost your chances of your offer being accepted.
Having an AIP in place shows that you have been granted permission to borrow for a mortgage. So when it comes to viewing properties and making offers, you are potentially putting yourself in front of other buyers who don’t have an AIP in place.
Although it may change on the lender that you use, your Agreement in Principle will likely last around 30-90 days.
If your AIP expires, it’s an easy process to renew it. Get in touch with your Mortgage Broker in Manchester or your mortgage lender to arrange a renewal of your AIP.
Yes! There a many reasons why someone may want a second mortgage…
– Debt Consolidation
– Home Improvements
– Buy to Let
– For a second home/holiday home
– Something else…
If you are looking for a second mortgage, contact our mortgage team in Oldham today.
Depending on your credit history and the lender that you are using, the usual deposit required for a mortgage is 5% of the property price.
If you fall into the lower credit score bracket, you may expect to see 10-15% deposit requirements.
It may be harder for you to obtain a mortgage with past credit problems, however, it’s definitely not impossible. You may be required to put down a larger deposit, perhaps 10-15%; this will vary depending on your lender though.
If you are suffering from bad credit issues, contact us and we will be more than happy to try and help. We have a wide variety of specialist mortgage lenders who may have the perfect mortgage deal for your financial situation.
If you can manage to produce at least one year’s accounts, you may be on your way to obtaining your mortgage as a self employed worker.
We find that most lenders will use your salary + dividend to work out the maximum mortgage amount that you can borrow, whereas others can go off your net profit.
During the mortgage process you will be asked to provide some evidential documents to back up your mortgage application. For example, you’ll need things like ID, bank statements, payslips.
Your Mortgage Broker in Oldham will run through all of this with you so that you don’t have to do it all by yourself.
Your free mortgage consultation will roughly last around an hour, during which we will get a better insight to your personal and financial situation. After your consultation is complete, we will try and turn around an Agreement in Principle within 24-hours, opening you up to the option of making an offer on a property.
The final step is to submit your mortgage application and wait for a formal mortgage offer. Usually, this will take around three weeks.