Residential Mortgages
Is it better to go to a mortgage advisor or a bank?
Whether to engage a broker depends on your individual circumstances and preferences. Employing a broker can save you time and effort, and they may be able to negotiate a more advantageous deal than you could secure on your own, particularly if you have concerns about the possibility of being declined by lenders.
At what point do I speak to a mortgage advisor?
The ideal moment to have your initial discussion with a mortgage adviser is prior to commencing your property search. As seasoned professionals, they will assess your personal circumstances and inform you of what you can afford. This way, you'll be able to focus on the right properties from the outset.
Are mortgage advisors worth it UK?
Mortgage advisers can be particularly helpful if your situation isn’t straightforward, such as if you’re self-employed or looking to purchase a property with certain complications. However, if you are a salaried employee with a stable income, a substantial deposit, and are buying a property without any apparent issues, you may not require the assistance of a broker.
WHAT PEOPLE ASK
Do mortgage advisors check your bank account?
Lenders review bank statements and other financial documents to evaluate if the borrower can afford the mortgage they are seeking to obtain.
How long does a mortgage advisor take?
The mortgage application process with a broker usually takes between 2 to 4 weeks, which is faster than applying directly with a lender, where it typically takes 2 to 6 weeks.
How far back does a mortgage advisor look?
How far back do mortgage lenders review? Mortgage lenders generally examine your credit history for the past six years. Your credit report includes details about your financial behavior, such as missed payments or defaults, from that time frame.
Will interest rates go down in 2025?
In the UK, predicting mortgage rates for 2025 can be similarly uncertain and depends on several factors, including the Bank of England's monetary policy, inflation rates, economic growth, and market demand. Analysts may have differing opinions, and their forecasts may evolve based on changing economic conditions. To get the most current insights on potential mortgage rate trends in the UK, it is advisable to consult financial experts or keep an eye on economic reports as 2025 approaches.
What is the average mortgage to salary?
While the average borrower can anticipate being offered a mortgage of 4 to 4.5 times their salary, there are lenders who may provide higher amounts. November 2024
Adam Heslop
Excellent service - Simon was knowledgeable, thorough, clear, professional, friendly, up to date, unhurried and timely. Many Thanks, I will use him again.
Vinu
Simon French did a fantastic job with my remortgage. He was very informative and quick throughout the process. I highly recommend him.
Alison Clare
Our experience has been fantastic throughout. Simon has been very helpful and friendly and we would definitely use him again and recommend him to others.
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