Mortgage Broker in Bedale

Your free initial mortgage consultation will approximately last 30 mins. During the consultation, we will ask you some questions and get a bigger picture of your personal and financial mortgage situation.

After the consultation, your dedicated Mortgage Advisor in Bedale will begin searching for mortgage products, trying to secure you one that’s more competitive than your current rate. Once we find a product for you, it’s up to you whether you want to take the offer or not. If so, we can get the ball rolling and start the mortgage application submission process.

Typically speaking, your initial free remortgage consultation in Bedale will last around 60 minutes. We will then compare a new deal vs your current product and recommend the most appropriate one, which you are not obligated to accept. You can then decide whether you want to proceed with the deal, or step back; it’s completely up to you!

When you take out a Remortgage in Bedale, there will be some extra fees that you’ll need to consider. These fees will be similar to the ones you received when you took out your current mortgage. As an open and honest Mortgage Broker in Bedale, we will break down these fees for you so that you know exactly what you’re paying for.

We will also try and save money in areas that you’d think you wouldn’t be able to. We take all fees into consideration and compare the savings of your new deal vs your current one.

You may find it slighter harder to get accepted for a mortgage with previous credit problems, however, it’s not impossible! The difference is that you may be asked to put down a higher deposit than usual, perhaps 10-15% of the property purchase price.

As your Mortgage Broker in Bedale, we will start with a Fact Find. During this stage of the process, we will get a better view of your personal and financial situation which will help us when selecting a mortgage deal.

You will then have a credit check performed on you, this step is essential in order to obtain an Agreement in Principle. Once you’ve handed us all of the relevent documentation and a valutation of the property has been completed, a formal mortgage offer can be offered.

Once you obtain an Agreement in Principle, it should last around 30-90 days. This will depend on the lender that you’ve used.

If your Agreement in Principle expires, you can easily renew it by contacting your Mortgage Broker in Bedale.

Your initial mortgage consultation will take around 30 mins, afterwards, we will try and arrange an Agreement in Principle for you within 24-hours of your consultation. The final step is submitting your application and waiting for a formal mortgage – this can take weeks.

When making a deposit on a property, High Street lenders will usually ask for a minimum of a 5% deposit. If you’ve had previous credit problems you may be asked to provide a higher deposit.

The deposit needed for a Buy to Let mortgage can vary. It could be anywhere between 20-40%. The typical amount that a lender will ask for is 25% of the property value.

The council will provide a discount which will likely be used as your deposit. Your lender may use discount as your deposit as well as asking for an additional deposit from your own funds. If you’ve had credit issues in the past, this is the road that the lender is likely to go down.

If you manage to submit at least one year’s accounts, you are able to get a mortgage. As a Mortgage Broker in Bedale, we see that a lot of lenders use your salary plus dividend to work out the maximum mortgage amount that you would be able to borrow. We’ve also seen some lenders go off your net profit.

Here are all of the documents that you’ll need to support your mortgage application in Bedale:

• Photographic ID (Driving license, Passport, etc.).
• Proof of Address (Utility bills, tax bills, credit card statements, etc.).
• Latest 3 months’ payslips & Latest P60 (employed applicants)
• Latest 2 years’ tax calculations and corresponding overviews (self-employed applicants)
• 3 months’ bank statement proving the deposit being built-up with an explanation for any large credits.

As a Mortgage Broker in Bedale, we always recommend trying to have an Agreement in Principle in place prior to viewing properties. An Agreement in Principle could put you in a position that would let you negotiate prices.

When you finish your fixed mortgage term, you will move straight onto your lender’s standard variable rate of interest (SVR). Your lender’s SVR is likely to be of a higher rate of interest than your current mortgage deal, so you will want to Remortgage in York to avoid these extra monthly costs.

The key to remortgaging is to shop around for deals. As a Remortgage Broker in Bedale, we can help you with this and try to find you a perfect deal that is not only more competitive than your last product but is more suited to your personal and financial situation!