When you’re ready to think about getting a mortgage speak to our team about how we can help. We do an affordability check / budget plan with every client to ensure you get the home you want and can afford.
The amount you can borrow for a mortgage typically depends on your income, credit history, existing debts, and the lender’s criteria. Each case is assessed individually by the lender Different lenders may offer very different amounts to the same client. We understand the circumstances which affect each lender and will use our skill and experience to get you the best deal for you that fits your specific needs.
Currently, the minimum deposit required is 5% of the purchase price (so £10,000 on a £200,000 home), however with a larger deposit you may have the option of more lenders and more competitive rates. All lenders will accept ‘gifted deposits’, generally from family members and we are happy to discuss this option with you.
For a first time buyer, the two main costs are the valuations/surveys and the solicitors fees and disbursements. Currently, there is a Stamp Duty exemption for first time buyers, so you pay no Stamp Duty on properties up to £425,000.
After our first meeting, we will discuss with you the most suitable price range for your purchase. When you see a property that you like, we are happy to speak to the estate agent to find out the specific situation of the vendor, after which you call them directly to arrange a viewing time that suits you.
There are a number of good High Street lenders who are willing to offer mortgages if you are on a Zero-hours contract. Typically they will require you to have been on the contract for at least one year.
Not a problem, around 25% of our clients are self-employed or company directors so we fully understand lenders’ requirements for you, and we are happy to help you buy your new home.
The solicitor plays a key part in your home purchase, and we will always recommend a solicitor to you who we know can carry out this important work efficiently, on time and in a way that makes the process as smooth as possible for you.
A solicitor handles the legal aspects of buying a house. This includes conducting property searches, managing contracts, dealing with the Land Registry, and transferring the funds to purchase your new home. Essentially all the legal legwork to get you the keys after we have secured your mortgage. They are working for you to ensure that you are aware of any legal pitfalls with your new home, and to ensure that your ownership is correctly registered.
There are three levels of valuation or survey that can be carried out. Every lender will require a basic lenders valuation, and we will advise you as to any further surveys that you should consider.
No – The lender will automatically instruct their basic valuation, and we are happy to deal with any further surveys for you.
It depends on what bad credit you have and when it was registered. We obtain many mortgages for clients with old credit issues. In a worst case scenario, we will advise you to wait until some items have ‘dropped off’ your credit file before proceeding. Howver it is always worth discussing it with us.
Not a problem, we even have lenders who will offer a mortgage based on a new job contract where you haven’t started the job yet. It’s true that some High Street lenders require you to have been in a new job for some time, however there are plenty who are far more flexible around this.
A lender will give an ‘acceptance in principle’ to us, for you based on your stated income and actual credit score. Most lenders these days use ‘soft footprint’ credit scores so they don’t affect your credit rating although the lender may require a full credit search when we apply for your mortgage to confirm your mortgage. It means that they are willing to offer you a mortgage and you can go and buy your new home.
Mortgages In Lincoln Ltd is an appointed representative of Quilter Mortgage Planning Limited which is authorised and regulated by the Financial Conduct Authority. Registered as a Company in England & Wales No. 07694495 Registered Office: 4 Henley Way, Doddington Road, Lincoln, LN6 3QR. The guidance and/or Information contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH REPAYMENTS ON YOUR MORTGAGE
© 2024 Copyright – Mortgages in Lincoln Mortgage Brokers
Site built by Lincolnshire Marketing.
