Submitting a Mortgage Application

October 10, 2017 11:19 am

When submitting a mortgage application, each lender will have minimum ‘packaging’ requirements.  This basically means there will be a minimum number of documents they will need to see before they will consider placing your case in front of an underwriter. One of the documents a lender will always ask for is a bank statement.  With internet banking being on the increase, fewer of us are opting to receive postal copies of our statements which is causing delays when trying to process mortgage applications.  What many people don’t realise is that... View Article

The Mortgage Process

February 11, 2017 12:00 pm

Applying for a mortgage can be a fairly daunting process, especially if you are a first time buyer.  Whilst a mortgage broker can help to alleviate some of the stress by handling matters on your behalf, it’s only natural to want to feel as though you still have control.  By understanding exactly how the mortgage process works, you can feel like you have some of the control.  Let’s take a look at how the process works when using a mortgage broker. Step One In the first instance, your mortgage broker will... View Article

Self Employed Mortgage Applications

February 9, 2017 1:03 pm

We receive a lot of enquiries from self-employed customers who aren’t sure whether they are able to apply for a mortgage.  It might because they only have one year of accounts or it could be because their income can vary considerably from month-to-month and is quite difficult to prove. Self employed mortgage applications are more common than you might think.  It is often just the documentary ‘proof of income’ that differs with a self employed customer.  Whereas an employed customer will be able to present payslips and a P60, a... View Article

What is a Second Charge Mortgage?

November 30, 2016 10:45 am

Looking to raise capital? Is a second charge mortgage right for me? If you are looking to release equity from your property to complete home improvements, consolidate debt, buy a new car or even a second home a second mortgage could be an option for you. Second charge mortgages have improved over the years and offer an option to not disrupt your mortgage. What is a second charge mortgage? Second charge mortgages are sometimes known as secured loans. They are essentially second mortgages secured against your property. They can be... View Article

Should I review my Mortgage?

February 12, 2016 1:17 pm

Should I review my mortgage? One of the biggest expenses in most people’s lives is their mortgage, yet it’s one of the things that we review least of all. We all review our car insurance each year so why not review your mortgage? It’s surprising how some people remain on their lenders standard variable rate (SVR) for years after the initial promotional rate; this could cost thousands in unnecessary interest. You may even be able to take advantage of lower rates to reduce your mortgage term. For some it may... View Article