Using a broker can save you a lot of time and stress, as we will handle everything from searching for a deal to applying and communicating with the lender on your behalf. 

We have expert knowledge of the mortgage market and will be able to recommend deals that suit your personal situation. 

We also have access to software that allows us to search mortgage deals much faster and more thoroughly than you could yourself. Brokers like us will know which lenders are most likely to accept you and help you steer clear of applying for deals you're unlikely to get (which can have a negative impact on future applications).

A mortgage broker, or adviser, is someone who will review the mortgages available to you based on your personal financial situation and apply for one on your behalf. 

We can save you time by telling you which lenders are likely to accept you and can speed up the process by dealing with some of the paperwork.

The main things that dictate how much a person or couple can borrow is income and current credit commitments.  All lenders have different ways to calculate what someone can borrow. Contact us to find out exactly how much you can borrow.

We will talk through all of the most appropriate deals tailored to your circumstances. Before deciding which one to apply for, think about:

• whether you want a fixed-rate, discount or tracker mortgage; 

• the cost of mortgage fees; 

• whether a mortgage offers cashback or other incentives; 

• the lender's customer service and reputation.

You will need a minimum of 5% deposit.  The more deposit you put in, the better the interest rates will be. For example, if you put in 10% deposit this will get you a better interest rate than a 5% deposit.

This will vary depending on the loan amount, the term of the mortgage and the interest rate.

There are several schemes run by the government that can help you purchase a property as a first time buyer.

Help to Buy

The new Help to Buy equity Loan scheme was launched on 1 April 2021. It is for first-time buyers and includes regional property price limits to ensure the scheme reaches people who need it most. The new scheme will run until March 2023. As with the previous scheme, the government will lend homebuyers up to 20% of the cost of a newly built home, and up to 40% in London.

Shared Ownership

This scheme allows you to buy a share of a home from the landlord (usually the council or housing association) and rent the remaining share at a low cost. The share available is usually between a quarter and three-quarters of a home’s full value. You’ll need a mortgage to pay for your share – it’s worth speaking to a mortgage advisor about this first. You can choose to buy a bigger share in your property (up to 100%) at a later date.

Right to Buy

If you are a council house or housing association tenant, you might be able to buy your home for less than its market rate.

A cross between buying and renting, the government’s shared ownership schemes are mainly aimed at first time buyers. You can buy between a quarter and three-quarters of a property, with the option to buy a bigger share at a later date. In England, all shared ownership homes are offered on a leasehold basis only.

It’s worth speaking to the Housing Team in your local council to see if the scheme is available in your local area.

For more details go to www.helptobuymidlands.co.uk

The new Help to Buy equity Loan scheme was launched on 1 April 2021. It is for first-time buyers and includes regional property price limits to ensure the scheme reaches people who need it most. The new scheme will run until March 2023. As with the previous scheme, the government will lend homebuyers up to 20% of the cost of a newly built home, and up to 40% in London.

For more details go to www.helptobuymidlands.co.uk

To apply for a mortgage you may need to gather the following documents: utility bills, proof of any benefits received, P60 form from your employer, your last 3 months payslips, passport or driving license and bank statements of your current account for up to at least the last 3 months. 

If you’re self employed you’ll need your Tax Calculations and Overviews Statements.

When applying for a mortgage, lenders will use your salary and any other additional income to work out your household income. They’ll also take into account all household bills and outgoings, along with any debts to ensure you will be able to repay monthly mortgage payments. After you’ve submitted a formal application, lenders will then make a Credit Check with a credit reference agency to assess your financial history and to see if you’re too much of a risk to lend money to.

By seeking the advice of a mortgage adviser, we'll look at your current situation and recommend the right mortgage for you. We explain all the charges and fees, calculating the total cost of your mortgage and guiding you through the often daunting process of a mortgage application.

A repayment mortgage is guaranteed to pay off your mortgage by the end of the term as long as all payments have been made.

An interest only mortgage is where your monthly payments are only covering the cost of the interest and your loan amount will remain the same.  At the end of the term, you would either need to sell the property to repay the mortgage or find another source to repay the loan.

Yes.  You can “remortgage” to another lender to take advantage of their better interest rates.  As part of our service we will contact you as you approach the final few months of your existing mortgage deal to provide you with details of the options available to you.

Yes, most lenders allow up to 10% of the mortgage balance to be overpaid each year without incurring any penalties.

A Buy-to-Let mortgage is where you buy anther property specifically as an investment with the intention of letting it out.

With most lenders you will need a minimum of 25% deposit. Some lenders can accept  as little as 15% or 20% deposit.

This is a score that we all have and is based on how we have conducted our finances over the preceding six years and is used by Financial Services companies to assess our credit worthiness.

You can improve your score by proving that you can repay debt and cope with any credit commitment you have, such as loans and credit cards and by paying things like mobile phone bills and utility bills on time.  Also, it helps to be on the electoral role.

If your mortgage application has been rejected, there are steps you can take to improve your chances of being approved for another one. First check your credit file with credit reference agencies to see what information they have about you and correct anything that’s wrong.

You need to be on the electoral register at your current address so a lender can confirm who you are and where you live. Try to avoid taking our new credit deals at least 12 months before you want a mortgage, and remember any payday loans during the last 6 years will be on your file even if you’ve paid it off on time.

The best way to ensure you’re in the right position to successfully apply for a mortgage is to contact us and we'll be able to find the right mortgage for you.

There are various costs associated with buying a property which we’ve detailed below:

Stamp Duty Land Tax (SDLT): Tax is payable when you purchase a property above a certain value. The amounts can be quite significant and you’ll have to factor this into your budget when considering how much deposit you need to buy a house.

Current percentages payable can be found at https://www.gov.uk/stamp-duty-land-tax

Solicitor’s fees: These are based on the purchase price.  Typically, First Time Buyers will pay £850-£1500.

Valuation fees: For most lenders these are also based on purchase price.  Many lenders offer free valuations, especially for first time buyers and remortgages.

Lenders arrangement fees: These can usually be either added to the mortgage or paid up front and average at about £999.

Mortgage broker fees: We are completely free, most will charge between £300 - £1000.

Stamp duty is a tax which homebuyers, with the exception of most first time buyers, must pay when purchasing a property costing over the stamp duty threshold, which is currently £250,000. It is payable whether you are buying a freehold or leasehold property.

The amount you pay is a percentage of the purchase price which will depend on the value of the property.

If you’re buying a property costing more than £250,000, you’ll usually need to pay Stamp Duty Land Tax (SDLT) on your purchase.

If you’re buying your first home, you’ll pay no stamp duty up to £425,000, and can claim Stamp Duty Relief on properties up to £625,000.

Current percentages payable can be found at https://www.gov.uk/stamp-duty-land-tax