What Clients Ask The Most
How much can I borrow?
This is dependent on how much a person or the mortgage applicants earn as well as any existing financial commitments and personal circumstances such as credit rating. All lenders have different methods of calculating how much you can borrow, therefore this will vary between lenders.
How much deposit do I need?
There are products available which allow you to put down a deposit of 5%. The greater the deposit the better the interest rate will be.
What costs are there when buying a property?
Costs to consider include:
- Stamp Duty Land Tax which can be calculated by visiting https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro
- Conveyancing costs - These are the legal costs involved when buying a new property
- Valuation fees, some lenders can charge while some may not charge a valuation fee of the property.
- Lender Arrangement fees: These can be added to the loan or paid up front
- Mortgage broker fee; we charge competitive broker fees to our clients. Returning clients benefit from discounts from all our services.
What types of mortgages are there?
There are two types of mortgages available
1) Fixed: These mortgages have a fixed rate of interest for a period. This will vary depending on the product you choose.
2) Variable: These mortgages have a variable rate of interest dependent on the Bank of England base rate.
Repayment: The mortgage amount and debt reduces after every mortgage payment.
Interest only: The mortgage amount and debt remains the same unless overpayments are made.