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If you’re a first time buyer in York and have a County Court Judgement (CCJ) on your credit file, you may feel uncertain about your chances of securing a mortgage.
While a CCJ can make the process more challenging, it doesn’t have to stand in the way of homeownership.
With the help of an experienced mortgage broker in York like ourselves, it’s possible to find lenders who understand your circumstances and offer solutions tailored to your needs.
A CCJ is a legal order issued when someone fails to repay a debt, and it stays on your credit record for six years. For many traditional lenders, this may signal a higher level of financial risk, causing them to hesitate in approving your application.
That said, specialist lenders are more flexible in their assessments, often focusing on your current financial stability rather than your past difficulties.
The good news is that lenders consider a range of factors when reviewing applications from individuals with a CCJ.
This means your chances of securing a mortgage depend not only on the CCJ itself but also on your broader financial circumstances and how you present your application.
One of the most important considerations for lenders is the age of the CCJ. A CCJ that occurred several years ago, especially one that has been settled or “satisfied,” is less likely to impact your application negatively.
Lenders often view older CCJs as a reflection of past difficulties rather than ongoing financial issues.
For example, if your CCJ is over two years old and fully paid off, some lenders may even disregard it altogether.
The size of the CCJ also plays a crucial role. Smaller judgments, particularly those below £500, tend to raise fewer concerns.
Larger CCJs may require you to provide additional assurances, such as a higher deposit or proof of repayment.
Demonstrating that the debt has been fully resolved can make lenders more inclined to approve your mortgage application.
Another critical factor is your deposit size.
A larger deposit reduces the risk for lenders, making it more likely for them to approve your application despite a CCJ.
In most cases, a deposit of 15% or more of the property’s value will significantly improve your chances.
Not only does this show financial responsibility, but it also reduces the amount you need to borrow, giving lenders greater confidence in your ability to repay.
Lenders also carefully assess your recent credit behaviour.
If you’ve maintained a clean credit record over the past 12 to 24 months, this might offset the impact of a CCJ.
Regular, on-time payments for existing loans, credit cards, or utility bills demonstrate financial stability and responsibility.
By showing that you’ve taken steps to improve your financial habits, you can build trust with potential lenders.
Your income and affordability are equally important. Lenders will examine your income and outgoings to determine whether you can comfortably manage monthly mortgage repayments.
Providing clear evidence of a steady income, such as payslips or bank statements, is essential.
Self-employed applicants in York may need to submit additional documents, such as tax returns and business accounts, to support their applications.
Applying for a mortgage with a CCJ can feel daunting, but that’s where we come in.
Our mortgage advisors in York have extensive experience working with clients in similar situations.
We understand that financial setbacks happen, and our goal is to connect you with lenders who take a more understanding and personalised approach.
We pride ourselves on offering tailored mortgage advice in York.
From identifying the most suitable lenders to helping you prepare a strong application, we’re here to guide you through the entire process.
With access to a wide network of lenders, including those specialising in CCJ mortgages, we can help you find the right deal for your circumstances.
Navigating the mortgage market as a first time buyer in York with a CCJ can be complex, but our expertise ensures you won’t have to face it alone.
We’ll assess your financial situation, explain your options in plain terms, and create a clear path forward.
Our local knowledge of York’s property market further enhances our ability to provide advice tailored to your needs.
If you’re ready to take the first step, get in touch with one of our experienced mortgage advisors in York today.
Let us help you turn the challenge of finding a mortgage with a CCJ in York into a positive and achievable goal.
To assist first time buyers in York, we have outlined the 10 steps involved in the mortgage process. This comprehensive guide is designed to provide you with the necessary information and preparation for your upcoming mortgage journey.
Here are the 10 steps involved in the process of purchasing a home and obtaining a mortgage:
As a first time buyer in York, you have taken a major step in purchasing a home and securing a mortgage. This can be a daunting experience, especially if you are unfamiliar with the process. That’s where we come in. As a dedicated mortgage broker in York, our goal is to take the stress out of the process and help you secure a favorable mortgage deal for your first home.
When you reach out to us, we’ll schedule a free initial consultation with one of our experienced mortgage advisors in York. During this consultation, we’ll gather your information and understand your goals, before starting the process. Let us help you make this exciting step a smooth and stress-free experience.
During your free mortgage appointment, your dedicated mortgage advisor in York will conduct a mortgage affordability assessment. This evaluation involves reviewing your monthly income and expenses to determine if you can afford the monthly mortgage repayments for the amount you wish to borrow.
This assessment is critical, as it helps us ensure that you are able to afford your repayments and avoid the risk of default and potential repossession. This is something that both the lender and we strive to avoid.
Typically, the lender will conduct their own affordability assessment, but our initial check will save time for everyone involved, including the lender, us, and most importantly, you. It also helps prevent any potential declined applications due to affordability issues.
As part of your free consultation, obtaining a Mortgage Agreement in Principle is the next step. If you’ve been researching mortgages before seeking first time Buyer mortgage advice in York, you might have come across various names for this, such as ‘Decision in Principle’, ‘Mortgage in Principle’, or the abbreviations ‘DIP’ and ‘AIP’. Regardless of the name, these all refer to the same thing.
A Mortgage Agreement in Principle serves as proof that you have cleared a lender’s initial credit assessment, either through a hard credit search (which leaves a record) or a soft search (which does not leave a record).
This agreement is not a guarantee of mortgage approval, but it is a crucial step towards your ultimate goal. Having this document also demonstrates to a property seller that you are sincere in your intentions, potentially leading to better negotiation opportunities. An AIP typically lasts 30 to 90 days and can be easily renewed if it expires. Our team can usually provide you with an AIP within 24 hours of your initial appointment.
Having secured an Agreement in Principle, the next step in your home buying journey is to find a Conveyancing Solicitor, also known as a Conveyancer. This professional is responsible for handling the legal aspects of transferring ownership of the property from the seller to the buyer.
Your Conveyancing Solicitor will be responsible for several key tasks, including reviewing and negotiating contracts, providing legal advice as needed, conducting local council and authority searches, working with the Land Registry, and finally, transferring the funds needed to purchase the property. Given the critical role that this professional will play in the process, it’s important to choose wisely.
It’s worth noting that there are two types of Conveyancing professionals: Licensed Conveyancers and general Solicitors. Licensed Conveyancers are specialists in property law but may not be equipped to handle more complicated legal issues. On the other hand, general Solicitors offer a full range of services, but their services may be more expensive. While your mortgage advisor in York may not offer these services in-house, they have a list of trusted companies that they can refer you to.
You have successfully taken several crucial steps in your journey towards homeownership. After speaking with a mortgage broker in York, passing the Mortgage Affordability Assessment, and finding a Conveyancing Solicitor, you now have an Agreement in Principle in hand. This agreement, which confirms that a lender is willing to provide you with a mortgage for a certain amount, puts you in a much stronger position as you move forward to make an offer on the property you have your eye on.
When making your offer, it’s important to keep in mind that you don’t want to offend the seller by making an offer that is too low. However, don’t hesitate to negotiate the price. Having an Agreement in Principle in hand demonstrates to the seller that you are a serious buyer and that you have the financial capability to follow through with the purchase. This could increase the likelihood of the seller accepting your offer over others who may be willing to pay the full asking price, but lack the same level of preparation.
In the event that the seller declines your offer, it’s not the end of the road. You can either make a revised, more reasonable offer or choose to move on and find another property. If your offer is accepted, it’s time to return to your mortgage advisor and take the final steps towards securing your mortgage and completing the purchase of your dream home.
With the legal side of the home buying process taken care of, it’s time to focus on the mortgage aspect. One of the key steps in this process is submitting the required documentation to the mortgage lender. Given the large sum of money involved, the lender will need to ensure that they are lending to the right person and that they are able to repay the loan.
To verify your identity, financial status, and ability to repay the loan, you will need to provide a range of documentation, this includes:
If you are obtaining a joint mortgage, this documentation will be required from both parties.
With your mortgage offer being accepted, it’s time to move forward with the submission of your full mortgage application. Our dedicated mortgage advisor in York and their team of Mortgage Administrators have thoroughly reviewed and prepared all the necessary documents, so we are ready to submit your application to the lender.
Your advisor will send the collected evidential documentation to the lender, and then it’s just a matter of waiting for their decision. Although there is no set timeline for a response, our Mortgage Administration team will be monitoring the progress of your application and will follow up with the lender to ensure a prompt resolution. They will keep you informed of any updates and will be there to help if the lender decides to accept or decline your mortgage application.
Between the submission of your mortgage application and being offered a mortgage, the lender will require a property valuation survey to be conducted. This survey is usually performed by a trusted and accredited company nominated by the lender.
The purpose of the survey is to determine the true value of the property compared to the agreed purchase price. If the purchase price exceeds the actual market value, the lender may be less inclined to approve the mortgage, as in the case of default, they may not be able to recover the full borrowed amount. This scenario is commonly referred to as a “Down Valuation”.
There are various types of surveys available, each with different levels of detail and varying costs. Some surveys simply determine the property’s value, while others provide information about potential structural issues and necessary repairs for the future. Your mortgage advisor in York will assist you in selecting the appropriate survey for your needs.
The time has finally arrived – after your lender has reviewed your case and evaluated all the supporting documentation, they will present you with a mortgage offer.
At this point, our team of knowledgeable and friendly mortgage advisors and administrators in York, whom you have become familiar with throughout the process, will review the offer to ensure accuracy and completeness. Upon receipt of the mortgage offer, your Conveyancing Solicitor will then take over and guide the purchase to completion.
As a new homeowner in York, you have reached a significant milestone in your life. You have successfully navigated the complex process of purchasing a home for the first time, and we extend our heartfelt congratulations to you. With the stress and uncertainty of the buying journey now behind you, it’s time to settle into your new home and enjoy the rewards of your hard work and dedication.
The next step in your journey is to obtain the keys to your new home and begin the process of moving in. This is an exciting time, filled with anticipation and the possibility of creating new memories and experiences in your new surroundings.
We are proud to have been a part of your journey and to have provided you with the support and guidance you needed along the way. Our team of mortgage experts in York is committed to delivering a fast and friendly service that is tailored to your unique needs and circumstances. We understand that purchasing a home is a big commitment, and we strive to make the process as seamless and stress-free as possible.
If you have chosen a fixed-rate mortgage, rest assured that we will be in touch with you at the end of your term to assist you with your Remortgage needs. Our goal is to ensure that you continue to enjoy the benefits of homeownership for years to come, and we look forward to serving you once again in the future.
If you are a first time buyer in York taking that first step onto the property ladder or home mover in York looking for a change in location but are unsure on where to live in York, we are here to help. Our expert Mortgage Advisors in York have created a list of the top things to keep in mind when deciding on a location.
To start, you need to establish whether you are looking for a city or rural landscape to live in. The bustling city centre of York may be the perfect place for you if you are looking for a lively atmosphere or the quiet and quaint rural areas to escape the city centre could be your thing.
Transport links can be an important element to some, especially if the reason for moving or locating within York was to be closer to family or work. Therefore, checking how close you are to the train station or bus stops or even main roads in and out of the city if you do drive could be a factor you need to look at.
Sometimes, people look for a property to be there ‘forever home’ where they want to start a family or where they want their family to live in for a long time. As well as the size of the property, it’s best for you to look at the schools around the area. There are plenty of authority websites and school league tables where you can look at how schools are performing.
It can be handy if you are located in an area where lots of facilities are just a short walk from your home. Obviously, everyone’s priorities and situations are different, you may want find a gym being close is more important to you or a certain food shop you prefer, this is where you can highlight your priorities when comparing areas. Again, people with children may want a local park to be within close proximity of where your home is.
Speaking to an estate agent can be good if you are wanting to know what is nearby, however, Google Maps does have helpful information regarding the facilities in the area and can provide you with an insight into how reputable these facilities are.
The deciding factor on a property could be whether you are close to your friends and family. Sometimes, this can be convenient as you can help each other out whether it be for childcare or transport. However, some prefer their own space and don’t need the help of their family and friends, this all comes down to your preferences.
When it comes to house prices, as well the property size, this comes to location. If your goal is to get somewhere that is value for your money, it can be best to look at an area in York that is a bit more reasonable. Because of this, you may need to compromise on additional preferences that you have decided on.
A thriving and friendly community may be your priority especially if you are looking to make some friends in the area. Facebook groups can be great for this with a number of communities also having their own websites. To truly feel the community spirit, it can be helpful to visit the area a couple of times before making a final decision.
Normally, the main reason for people to Move House in York is due to a career change which in turn means a location change. It’s likely that you are wanting a short commute to your work which could be the deciding factor on a property. If you are looking for jobs after the move, researching the business parks and the types of employers around the area can help you and can give you an idea of what is available to you in the area.
With a large selection of houses out there, there is plenty of properties to look at that could fit your preferences. You may decide an urban apartment just for you is the place or an end terrace with a beautiful garden would be perfect for you and your family. Exploring the various property options out there can be brilliant to find which one fits you and your circumstances.
When you have got an offer accepted, it’s good to be sure that your property is actually the amount it’s worth. Getting a property survey carried out on your property can truly determine whether or not your property is the amount it’s worth. There many types of property surveys out there which is why our handy guide on the types of property surveys could be helpful to you. Alternatively, a member of our team is more than happy to help you with this.
If you are looking to stay in your new home for a long time, it can be best to research if there is any planned investment within the area. You need to see whether potential investments will benefit you and not take away any of the other previous factors. For instance, if you are interested in a property in an overall quiet area but there are plans for further housing development near you, would this effect you?
Towards the end of your fixed mortgage terms, you might decide you want to stay in your current property instead of moving. This is when you can look at starting your Remortgage application!
In the current climate where many have gone full remote working since the coronavirus pandemic, having an area where you can work is important. A remortgage can give you the chance to make developments and modifications in your home like converting your kitchen, living room or even remortgaging for a home office in York.
When you have built up a large amount of savings for a deposit on your first property and are in a position where you can behind your mortgage journey. It’s then time to prepare for a mortgage in York!
It can make a significant difference if you do overpay your mortgage even if it is in small increments as well as the interest you pay back during your mortgage. The quicker you begin paying this, the sooner these extra payments can take effect.
As a first time buyer in York, you may be aware of the difference when you overpay your mortgage and the impact it can have on interest when you pay it back regardless of whether you are only over by small amounts. The reason why overpaying early can be better is because the extra payments have a longer period to take effect.
In some cases, homeowners may not be able to make these extra payments but you could say that many decide not to overpay as they would instead use the remaining money on something more interesting and exciting!
With this in mind, we suggest you arrange a standing order payable to your lender each month. It would be wise if you do organise this standing order to go out on the same date as your standard mortgage repayment, this additional payment will hopefully start to feel a part of your standard mortgage payment.
The advantage of going for a standing order is that, instead of a direct debit, you can manage this, not the receiver. Therefore, if you have a financial emergency you can easily log into your online banking and cancel the standing order as this doesn’t go out the next month. As much as it’s not the best to stop overpaying, you still will be able to benefit from the overpayments made up until that point.
Getting into the routine of overpaying your mortgage is a great habit, the amount you overpay doesn’t have to be a large amount, however, you’ll be happy when you are at the end of your mortgage repayments and find you have taken off a year or two.
Sometimes, lenders will allow you to make reduced mortgage repayments or take a payment holiday if you provide evidence of a history of overpaying. Before taking a payment break, however, it’s key that you check with your lender that you are eligible. If you don’t, this could mean you end up with a negative mark on your credit report and this is something you should strive to avoid.
If you are looking to overpay your mortgage, you should speak to your mortgage lender to see if this is doable.
Another option for people who have already been overpaying and are seeking remortgage advice in York ahead of releasing their equity to remortgage onto a better deal, take advantage of our free remortgage review. Here at Yorkmoneyman, a designated remortgage advisor in York.
When you apply for a mortgage, having a high credit score improves your chances of being successful. That being said, a high credit score alone won’t guarantee that the financial institution will approve your mortgage.
Every mortgage lender has its own unique mortgage lending criteria, meaning a high credit score in the eyes of one, might not necessarily be a high score in the eyes of another.
Speaking to a mortgage broker in York, like ourselves, is just one of the great ways to improve your chances of success. Using our knowledge of mortgages, we’ll look to get you matched up with a suitable lender for your circumstances.
If you want to get a much more in-depth knowledge of your credit score, you can take a look at a wide variety of credit scoring agencies. For people seeking mortgage advice in York, you will probably come across the bigger names, such as Experian or Equifax.
It is important to check more than just one of these though, so you can get a more accurate look at how your credit file is currently. It also helps to spot any mistakes or inconsistencies amongst the different platforms.
Of course if you’re doing multiple credit searches, you may also harm your chances of getting a mortgage approved by a mortgage lender, especially if you are doing too many.
Instead, try to limit it to a small selection of trusted credit scoring websites, in order to prevent doing any potential harm to your mortgage chances.
People on the voters’ roll are considered to be much more stable and organised than people who are not, and it is something that will reflect positively on your credit score.
If you have not done this before or have not updated your information, it may be worth doing so in order to possibly improve your credit score and consequently, your chances of being accepted for a mortgage.
Another way to improve your credit score is to know your maximum credit limit and make sure you don’t go over that amount.
Maxing out your credit limits your credit score may not help with your mortgage lenders perception of your ability to stabilise your finances.
A mortgage lender will prefer to work with individuals of whom they know can maintain their finances responsibly, with minimal to no risk of falling into arrears.
It is very important to update your address history to ensure that your provider knows where exactly you live at a given time. Failure to do so could give the impression that you’re living in two places at once.
Ensure that the details are correct, especially if you live in a flat- which could be quite difficult due to different address formatting.
If you have any old credit accounts that you no longer use, contact the providers to close the accounts. Doing so will be sure to streamline your finances, protects you from fraud and reduces the risk of harming your credit score.
If you have family, an ex-wife or husband, or any other person that you are financially linked to, it is important to sever those ties prior to a mortgage application.
The truth is, those links may potentially harm your credit score, especially if that person develops a poor credit score of their own. Due to the link, your score will also go down.
Whether you’re a first time buyer in York, looking to remortgage in York, moving house in York or any other kind of mortgage scenario, your credit score should always be one of your top priorities.
Book online to speak with a mortgage broker in York. A dedicated advisor will talk you through any necessary steps for you to take.
Beginning your first role as a qualified teacher is a big milestone, and if you’re also thinking about buying a home in York, it’s understandable to have questions. Balancing a new career and the process of getting a mortgage might feel like a lot, especially if you’re unsure how your employment situation will be viewed by lenders.
For many newly qualified teachers (NQTs), the idea of getting onto the property ladder can seem out of reach. This is particularly common if you’ve only recently secured your first contract or if you’re on a fixed-term agreement. The good news is that there are mortgage options tailored to support teachers just like you, and with the right team on your side, buying your first home can be much more straightforward than you might expect.
As a mortgage broker in York, we help teachers every day who are taking their first steps into the property market. If you’re starting your career in education, you may find that some lenders are more cautious when it comes to short-term contracts or limited work history. Thankfully, others understand the nature of teaching roles and are happy to work with NQTs, especially if you have a formal job offer or contract in place.
One of the most common questions we get asked is whether it’s possible to apply for a mortgage before your first paycheque. In many cases, the answer is yes. Some lenders are prepared to assess your application based on your contract and agreed salary, which means you don’t always need months of payslips to get started. This can be really useful if you’re hoping to secure a property before the school year gets underway.
Choosing a mortgage is about more than just securing a deal. It’s also about making sure your monthly payments are affordable and fit comfortably alongside your new career. York has a wide range of property prices depending on the area you’re looking in, so knowing exactly what you can borrow and what that means in real terms is key.
If you’re buying your very first home, there may also be additional support available. This is where our mortgage advisors in York can really help. We can talk you through what’s available to you as a first time buyer in York and make sure you’re aware of any schemes or benefits that could make things easier.
When you’re preparing to buy your first home, one of the main things first time buyers in York will need to know is how much you can borrow. As an NQT, lenders will usually base this on your salary and any regular outgoings you have. Some will also consider your potential for future earnings, which can work in your favour if you’re starting out on a good career path.
Your credit score plays a key role in this too. It helps lenders understand how you’ve handled things like credit cards, phone bills or any borrowing in the past. Even if you’re early in your financial journey, making sure you’re keeping up with payments and managing any existing credit sensibly can make a big difference. If your credit history is limited, there are still options available, but it helps to show that you’ve been reliable with money wherever possible.
From your first conversation with us, our aim is to make your mortgage journey as simple as possible. We’ll guide you through the process, explain what documents you need, and find the lenders who are most likely to look favourably on your application.
With access to a wide range of mortgage options for teachers, we can search for deals that suit your new career and future plans. Whether you’re buying on your own or with a partner, or if you’re combining your income with someone else, we can help you explore what works best.
If you’re an NQT looking for mortgage advice in York, our team is here to support you. We know how exciting it is to start both a new career and a new chapter as a homeowner. Book your free mortgage appointment and let’s see how we can help you take that next step.
When lenders are requesting your bank statements, they will be looking into various things. By assessing these bank statements, the lender can get an idea of the type of person you are and how well they would be able to manage their mortgage payments. Through our experience, we have encountered numerous enquiries asked by applicants wondering if gambling transactions look bad on their bank statements.
As much as gambling can be a risky activity, we are not saying that it is an illegal act, however, lenders do judge applicants in a less favourable light if there are a large amount of gambling transactions in a shot space of time on their bank statements. You might have seen many gambling adverts on TV where they always urge customers to ‘gamble responsibly’, this is something in the mortgage industry we persuade too.
Obviously, it’s not the lender’s job to tell you what to do with your life with your finances or to lecture you on the rights and wrongs of gambling but, they do have a duty to lend responsibly.
Lenders need to demonstrate to the regulators that they are making judicious lending decisions. Therefore, it isn’t entirely unreasonable of them to have similar expectations of the people who are looking to borrow from them. Put it in this perspective, if you were to lend your own money, would you lend money to the individual who gambles or the one who doesn’t?
It is not illegal to gamble, therefore, the odd gambling transaction on your bank statement does not automatically mean you will be declined for a mortgage. On the other, these transactions will be judged by the lender as to whether these transactions are rational. Along with this, they will look at the frequency of these transactions, the size of the transactions in relation to the applicant’s income and the overall impact on the balance.
When the transactions are infrequent small amounts that make no big impact on a regular credit bank balance, then they are not likely to be regarded as important. On the other hand, if an applicant gambles most weeks and is constantly in their overdraft, the lender will see this as irresponsible and decline your application.
The reason lenders like to look at your bank statement is for them to understand your financial behaviour with managing money and can conclude whether or not they are confident in lending to you.
Lenders are financial institutions that, either directly or as part of a wider group, often sell current accounts, overdraft facilities credit cards and personal loans. With this in mind, you need to understand that these all factor in prudent financial planning. It’s important for a mortgage applicant to look into how these facilities work.
For example, if you occasionally find yourself in overdraft, this is not inherently a bad thing. Whereas regularly exceeding the overdraft limit is not so good. Furthermore, lenders will look for excess overdraft fees or returned direct debits as these would usually show that the account is not well conducted.
Credit transactions from pay-day loan companies; “undisclosed” loan repayments (e.g. if you said on the application that you have no other loans but here appear to be regular loan payment, this could be an issue) is just some of the things to look out for. They would also look out for outstanding missed payments and they might see how much of a typical month is spent overdrawn – i.e. if you only just go into credit on payday and for the rest of the month is overdrawn, how sustainable is this mortgage?
Be sensible and plan ahead, if possible. Usually, a bank would request up to three months of your most recent bank statements. This will show the lender your salary credits and regular bill payments. Therefore, if you are thinking of applying for a mortgage in the distant future make sure that you avoid any of the above pitfalls. It’s best that you take a break from gambling for a short time and work on presenting your bank account in the best possible light.
There are a number of lenders out there who may ask for fewer bank statements than others or some may not ask them at all, this is something a mortgage broker could help you with. Despite this, these lenders do still have the right to request bank statements in particular circumstances so it’s best you are prudent in the run-up to any mortgage application. It’s important you if you do gamble, please gamble responsibly!
Getting some specialist mortgage advice in AREA will benefit first time buyer in York like yourselves, especially if you have little knowledge about mortgages. They can provide a helping hand with your application and look impressionable to lenders. Simply book online your free mortgage appointment to speak with one of our mortgage advisors in York today.
If you have been saving up for a property and are ready to finally put a deposit down on a potential new home, it is now time for you to get prepared for a mortgage!
You may be a first time buyer in York, jumping into the world of mortgages with no experience. You could be moving home in York, looking to get a mortgage on another property you have your eye on.
In any case, obtaining open and honest mortgage advice in York will be beneficial ahead of your mortgage process, as one of our trusted mortgage advisors will guide and support you all throughout.
Below are some helpful tips on how to get mortgage ready, including information that can help you be prepared for the mortgage application process.
Here at Yorkmoneyman, a member of our dedicated mortgage advice team in York will be on hand to provide you with help and guidance all throughout your journey.
They will be there to answer all of your mortgage questions, suggesting the most appropriate course of action for you to take.
A true benefit of obtaining mortgage advice in York is that you will be able to take a look into the amount you will be able to borrow for a mortgage, as well as gaining an understanding of your monthly costs.
Once we have carried out an affordability and borrowing capacity assessment, your designated mortgage advisor in York will take a look through 1000’s of mortgage products in order to find the best one for your circumstances.
In order to do this, they will request that you provide them with an up-to-date credit report, so that they can understand your current financial position.
In the beginning of your mortgage process, you will need to look at obtaining an agreement in principle. This should be a priority for you, as you won’t be able to make an offer without one.
As a mortgage broker in York, we are typically able to obtain this for you, within 24 hours of your initial mortgage appointment. This will hopefully mean you have one less thing to stress about.
In addition to this, you will need to provide some proof of your identity. This includes your name, where you live and how much you earn.
With a lot of paperwork required, it is best that you keep organised. Collect documents in advance and create a file for these, so that you don’t lose them.
As mentioned, you will need to prove who you are in order to get started with the mortgage process. It needs to be photographic like a driver’s license or a passport.
A driver’s license can also be used for proof of address, though if you use it for this, you will need a separate document as proof of ID.
Once again, as discussed above, you will also need to provide evidence of where you currently live. You can do this by sending in a utility bill or original bank statement that is dated within the last 3 months.
Other big factors in whether or not you qualify for a mortgage, are your spending habits and how well you manage your finances.
Bank statements will be able to showcase both of these to your lender, going into detail about what comes in and what goes out of your account.
Lenders will prefer looking at your bank statements as it shows you would be able to meet your monthly mortgage payments along with your other expenses.
Another factor that lenders may look at, is if you have any gambling transactions on your bank statements.
If you are a frequent gambler, this is something lenders will not like seeing because it is a spending habit that could potentially cause issues in the future.
If you happen to be a regular gambler, the lender likely won’t want to risk it affecting your ability to pay back a mortgage. Exceeding your overdraft on a regular basis or having consistent bounced direct debits will also be detrimental.
Further to the above point, you will also need to evidence where your deposit funds have come from. Doing this is important, and keeps everything in line with anti-money laundering regulations.
You will be required to answer questions about your deposit and how exactly you were able to raise the funds to cover that amount.
To avoid questions and looking suspicious, we would highly recommend that you avoid moving larger funds around from account to account. This would confuse the audit trail and flag up to the lender.
They like to see that you saved up your money for the deposit, preferably inside a savings account of some kind.
Throughout our time working as a mortgage broker in York, we have seen an large increase in the popularity of gifted deposits, especially amongst first time buyers in York, looking to find their footing on the property ladder.
When it comes to gifted deposits, you need to evidence this correctly, regardless of your mortgage scenario.
Gifted deposits are typically donated from a family member or friend. Whomever the donor is, they must verify in writing that this is strictly a gift and not a loan to be paid back.
In order to prove that you actually can afford a mortgage, you must also evidence your income. You will be required to show your last 3 months’ payslips and your most recent P60.
Elements such as regular overtime, commission, shift allowance and bonuses are something else that a mortgage lender will need to know about ahead of time.
If you are self employed in York, proving income is a little different to other applicants, as you will need help from your accountant by requesting a tax year overview.
It is recommended that you look into what your estimated outgoings are as this can help you with being prepared for a mortgage in York.
Looking at your outgoings, such as council and utility bills. This will be helpful when comparing with your other monthly expenses such as food and drink.
Bearing all of this in mind, you will be able to get a rough estimate of the amount of disposable income you will need to pay out mortgage payments.
If you are at the point of applying for your mortgage in York, it can be challenging to do alone. Going through the mortgage journey with an expert mortgage advisor in York can make this easier for you.
Book your free mortgage appointment using our online booking feature today. Choose a time slot that suits you, and speak to an experienced mortgage advisor in York, subject to availability.
Are you a first time buyer in York on the lookout for your colourful, dream home? Have you yet to decide on the perfect location in York? There are many wonderful residential areas in and around York, it is just finding the right one for you!
To help you make the right decision, we have put together our top list of places to live in York.
Fulford is a lovely, small village just two miles southward of the York city centre. If you journey east of the York Racecourse and the River Ouse, you will find yourself in Fulford.
Fulford allows residents to enjoy the calming life of the North Yorkshire countryside as well as the charming city life right on the doorstep. Fulford Ings Park and Gardens is a must-visit for all who enjoy a walk by the river. If you head south on the walk, you will end up at York Designer Outlet and if you head north, you will find yourself at the Millennium Bridge, Millenium Fields and Danesmead Wood.
Known for its verdant streets and rich background, Fulford could be the best place for you to live in York. However, property demand in this area is very high because of the affordable housing prices. Home movers and first time buyers in York should keep their eye out on websites like Rightmove if they are thinking of purchasing shortly.
Situated on the opposite side of the city is Clifton; this is a large, lively residential area that also holds the city’s hospital. This suburb is considered to be one of the best places to live in York.
In Clifton, you’ll find cafes, bars, restaurants, cinemas, a shopping park and gardens. If you have a family, there is also a wide section of top-standard primary and secondary schools in the local area. There are many different property types in Clifton; terraced, semi-detached and detached are the most common.
If Clifton sounds like an area that you would like to live in in the future, we would recommend getting in touch with us. We can arrange an AIP within 24 hours of your application to give you the best possible chance of securing a property when making an offer in Clifton.
Badger Hill is a small, residential area in York, located east of the city centre. This area is ideal for all different types of people, such as couples, families, the elderly and single homeowners.
The stunning York University is located next door to Badger Hill. You’ll find that both campuses are within a 10-minute walk from the area. This also means that there are many transport routes in and around the city. This is ideal for getting to and from your place of work, dropping the kids off at school and picking up your weekly shop!
Rather than heading into the city centre, in Badger Hill, if you head further out of York via the A64 Northbound, you will find yourself at the North Yorkshire Moors National Park. This car journey is less than 30 minutes!
The historic town Osbaldwick is a peaceful, green area that is perfect for all first time buyers in York and home movers! Its location is north of Badger Hill and east of the York city centre. If you are entering the city from Hull road or Murton, you will pass through Osbaldwick.
Being connected with Hull Road and the A64, Osbaldwick residents have easy access to the city centre and the motorway. Similarly to Badger Hill, the transports links in this area will suit your working and personal commitments.
Boarded by the countryside, lake by walks and playing fields, Osbaldwick is a stunning area to live. We would recommend this location to anyone!
Previously mentioned Hull Road is a popular residential area in York. The long street sits 1.3 miles east of the York city centre. It connects the A64 to the York city centre, allowing easy access in and out of the city.
The area is mostly filled with terraced housing, therefore, it is perfect for small families, couples, single homeowners and the elderly. You will also find that students have warmed to this area due to the housing types and affordability.
There are many different types of eateries and amenities along the Hull Road stretch, each having a lively, friendly atmosphere. Families and children will also love the local community events and activities held in Hull Road Park.
Heworth is north of York, touching the border of the marvellous northern city walls. Described as a pleasant place to live, Heworth is a pretty suburb that homeowners in York should consider as a place to live.
Perhaps more suited to the elderly in some parts, Heworth’s most common housing type is semi-detached. There are great transport links to the city centre, with Heworth only being 10 minutes away by car or frequent public transport.
Additionally, if you’re looking for things to do, the possibilities are plentiful in Heworth. Two pubs, a selection of restaurants and takeaways, as well as a nearby shopping centre, superstores, pharmacies and more! If you’re into sports, you can enjoy local golf, rugby, cricket and football.
Sitting only 3 miles to the west of York, lies the popular suburb of Acomb. Covering the site of the original village of Acomb from the 11th century, Acomb is one of the largest areas of York, with six primary schools, a secondary school, various sporting clubs and a sports centre.
There are a wide variety of house prices in Acomb, ranging from affordable to high-end, giving you plenty of options for places to live. You’ll have everything you need in one place, with plenty of supermarkets and a busy high street, as well as parks and outdoor facilities. It’s a great choice for families!
Many of the locals are fond of Acomb, attributing their enjoyment of living there to the community spirit. Events like Christmas lights switch-ons, Acomb Green activity days and other assorted entertainments allow for a wholesome, strong community vibe.
Are you thinking of buying your first home or moving home in York and need mortgage advice? If so, Yorkmoneyman is here to help!
20 years of experience within the mortgage industry has allowed us to access great mortgage deals. We will go through thousands of these deals and pick out one that perfectly matches your personal and financial situation. Your mortgage journey is made easy with Yorkmoneyman – your mortgage broker in York.
To speak to a first time buyer or moving home mortgage advisor in York, get in touch today and receive a free mortgage consultation. We know that the mortgage process can be stressful and that’s why we want to offer a helping hand. We would love to hear from you and assist you on you in the world of mortgages.
During your mortgage process, you will need to provide evidential documentation to prove that you can afford your mortgage repayments. The documents that you’ll be asked to provide, include bank statements, proof of address, latest P60, payslips and photographic ID.
Lenders need to be certain that you are financially stable to afford your monthly repayments. If given an agreement in principle this will signify that you have been agreed in principle you providing substantial documentation to back up everything that you’ve said about yourself.
Your bank statements can say a lot about a person, they highlight your latest spending habits like the commonness of going to the pub, making gambling transactions, and going shopping on a betting app. Everything transaction, even bank transfers to and from different accounts will need to be shown.
The lender needs to know whether they are lending to dependable applicants or not. For example, if the lender can see that an applicant spends too much money or exceeds their arranged overdraft limit every month, they will question whether they will be able to afford a mortgage or not.
It’s all down to risk. If the lender thinks that you are going to struggle with your mortgage payments due to how you spend your money, they are unlikely to accept your application.
The question is, what exactly are they looking for? What do lenders not want to crop up on my bank statements during your mortgage application?
The first thing your lender will look for on your bank statements is any gambling transactions.
Gambling transactions are one of the first things that your lender will look for on your bank statements. Believe it or not, depending on how frequently and how much money you gamble, gambling can affect your chances of getting a mortgage.
Don’t worry, the occasional gambling will be harmless. That said, if you are continually gambling enormous quantities of money, you will not be in the lender’s favour and you may be seen as irresponsible.
This is because lenders need to trust you and know that you will be able to meet your repayments on time.
Lenders need to know that you can afford a mortgage, so going in and out of your overdraft and reaching its limit every month is something that lenders won’t take lightly.
That said, there is nothing wrong with going into your overdraft, we have seen it happen with different applicants all the time. But if you have to do this every month, it might stop you from getting accepted.
Be aware that lenders will look out for any bounced direct debits. A bounced direct debit is when a company tries to take money from your account through direct debit, but your account doesn’t have the necessary funds to cover the bill, this usually occurs with monthly bills/subscriptions.
Whether this is a complete accident but if you accidentally missed a mortgage payment, this will be more detrimental than missing a Netflix subscription. But having repeated bounced direct debits will reflect badly on your credit file, so be wary in the future.
Lenders will be making a note to check for any personal loans and credit card commitments. You need to make sure to declare any expenditures and that you will still be able to meet your mortgage payments on time with these expenditures.
Here at Yorkmoneyman, we have worked with many first time buyers and home movers in York. We tend to find that most lenders will ask for at least three months worth of bank statements from their applicants.
Now, you can’t alter what your past bank statements show, but you can change what appears on them in the future. Before you decide to submit your final mortgage application, you need to get prepared and be mortgage-ready so your finances mirror you in the right way. Here are some of our recommendations:
If you need help with making your application stand out, book your free mortgage appointment today with one of our expert specialist mortgage advice in York. We have worked in the industry for over 20 years and helped many first time buyers in York achieve their mortgage goals.
We are confident to say that we know exactly how to help. You could be next, so if you have any mortgage questions, we have likely helped many applicants in your situation before.
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Yorkmoneyman.com & Yorkmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 9 Gallows Lane, Beverley, United Kingdom HU17 7FJ.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk.
© Yorkmoneyman 2025.
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Yorkmoneyman.com & Yorkmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 9 Gallows Lane, Beverley, United Kingdom HU17 7FJ.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk.
© Yorkmoneyman 2025.
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