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Mortgage type
Remortgage - To get a better deal and lower your monthly repayments or pay off your loan early. You can also use capitol in your home to raise funds for home improvements and other purposes.
First time buyer - For your first step on the property ladder, when buying your first home. Either individually or as a couple, your application will be based on salary, deposit and property value.
Moving home or purchase mortgage - If you’re ready to take your next step on the property ladder or looking to purchase a second home. We’ll help make the process as simple and smooth as we can for you.
Buy to let - If you’re purchasing a property to rent out you will need a specialist buy to let mortgage. Let us help you find the best rates available to make your rental property as profitable as possible.
Property value
An estimated purchase price on the property you are looking to buy. We can confirm the exact accepted price at a later date, but giving us a close estimate now will ensure the mortgage quote we provide is as accurate as possible.
Mortgage amount
This is the amount you will need to borrow to make your property purchase achievable. Take into account any deposit or equity from your current property as this can be deducted from the total amount you need to borrow.
Loan to value (or LTV) is the percentage of how much money you want to borrow against how much the property is actually worth. For example if you want to borrow £150,000 for a property worth £200,000 your LTV is 75%. Often the lower the LTV the better the rates you can apply for, as the less money you need to borrow looks like a lower risk to lenders and they’re happy to give you better rates.
Adverse credit
Adverse credit is when you have late, missed or defaulted credit agreements. Also if you have had any CCJs or been declared bankrupt in the past 5 years, this could also effect your credit score and be considered adverse credit. We can still search for a suitable mortgage for you, speak to us today to find out if this will effect your mortgage application and how to get approval from a lender when you have had credit arrears in the past – call us on .
