Can’t recommend this company enough, especially Jason who has arranged a couple of mortgages for me now. Very friendly and works very hard to find the…
- M “mc2554” C
Buying your home can be the biggest financial commitment you’ll ever make, so getting the right mortgage is important. With so many products to choose from, it can be overwhelming. That’s where we come in.
Our brokers will carefully assess your individual requirements and recommend the most suitable mortgage product available to your needs. We have sourcing systems which are updated every day and have access to thousands of different mortgage products from UK lenders, many of which aren’t available on the high street. All of this helps us get you on the best rate possible.
*Commercial mortgages are not regulated by the FCA
The amount you can borrow all depends on your personal circumstances. Factors like your income, debts, deposit amount, employment status and credit score will impact how much a lender will be willing to offer you. We start each case with a fact find to gather this information from you. Then, we’ll use our expertise and access to different offers to find a lender and product which meet your needs.
A decision in principle, often referred to as a DIP, is an initial agreement from a lender of how much money they will lend you for a mortgage. This is before the full mortgage application is completed, and is based on your income, employment status and deposit amount. It’s not guaranteed but is a good indication providing your credit checks and income evidence are as expected.
Being self-employed itself doesn’t affect your eligibility for a mortgage. You’ll need to have had the right level of stable income over a certain period and provide evidence of this. Some lenders will be better suited to those who are self-employed, which is why it’s important to work with a broker who has experience in this field, such as our brokers at Anderson Wealth Management.
A fixed rate mortgage simply means that the interest rate on the product when you complete on your purchase or remortgage will be the same for a set period of time. The most common time periods are two and five years. After this period, you can move to a new deal. We contact our clients 6 months before their deal comes to an end, to ensure they can move to the right rate with their existing lender, or even move to a new lender if beneficial.
If you don’t do anything when your fixed-rate deal comes to an end, you’ll move onto a variable-rate. This is generally more expensive, so we help our clients to avoid this. Around 6 months before your deal ends, we’ll contact you to check your circumstances so we can move you to another fixed-rate deal. This may be with your current lender, or we can move you to a new lender if that’ll be beneficial to you.
Equity release, also referred to as a lifetime mortgage, is a way of releasing money from a property. Often people choose to do this to secure a lump sum which can be a gifted deposit for a family member, or simply to help with living costs in later years. A lifetime mortgage can also be used to replace an existing mortgage that has come to the end of its term, meaning you can continue to stay in your home for as long as you want. You can choose whether to pay the interest or not, and the balance is settled through your estate upon your death when the property is sold.
If you want to see how we can help you, get in touch with us. We're always here for expert, friendly, free* advice.
