It's Free to Speak to an Advisor, 7 days, 8am - 10pm

What Does a Mortgage Broker in Cardiff Do?

Why use a mortgage broker in Cardiff?

If you’re aiming to streamline your process, save time and money, and reduce stress associated with mortgage decisions, there are substantial benefits to enlisting the assistance of a seasoned mortgage broker in Cardiff.

As experienced professionals, we have access to an extensive array of mortgage deals, enabling us to meticulously select the one that perfectly aligns with your unique circumstances.

In contrast, going directly to a bank limits your options to the mortgage deals offered by that specific lender, providing no opportunity to explore multiple alternatives.

Appointments That Work With Your Busy Day-to-Day Life

Our team is here to accommodate your schedule, offering appointments seven days a week, from early morning to late evening, ensuring we work around your busy lifestyle.

Additionally, you can make use of our website’s booking form to schedule a video or telephone consultation with a mortgage advisor in Cardiff at a time that suits your convenience.

Before Your Application

To embark on your mortgage journey as a first time buyer in Cardiff, the first step is to schedule an appointment with a mortgage advisor in Cardiff.

During this meeting, you’ll provide them with essential information about your circumstances and plans. Subsequently, they will carefully evaluate a range of mortgage options to identify the one that suits you best.

For both first time buyers in Cardiff and those moving home in Cardiff who choose to proceed with their mortgage advisor’s recommendation, there’s an added benefit of receiving an Agreement in Principle (AIP). Our goal is to secure this document within 24 hours of your initial appointment.

An AIP is a valuable asset as it’s often requested by estate agents when you make an offer on a property. It demonstrates your commitment to the purchase and your financial readiness, with a mortgage lender ready to provide the necessary funds.

We provide comprehensive support throughout the offer process, help with property surveys, and offer optional insurance recommendations to safeguard your family and home from unforeseen events.

Additionally, you’ll need to furnish your mortgage advisor with relevant documentation to support your mortgage application. The specific requirements vary depending on your circumstances and the lender you choose.

Rest assured, as a mortgage broker in Cardiff, we’ll guide you through this process and ensure you have everything in order.

During Your Application

Upon receiving your documents, our role as a mortgage broker in Cardiff includes a thorough verification process.

We will then provide you with a mortgage illustration that clearly outlines the details of the deal you’ve agreed upon with the recommended mortgage lender. This step occurs just before we submit your application.

Once you’ve given your approval for our recommendation, your application is submitted. Your dedicated mortgage advisor in Cardiff will send copies of your documents to the mortgage lender.

Throughout this process, we maintain regular communication with you, ensuring you stay informed about the progress of your application.

As soon as the mortgage lender reaches a decision on your application, we will promptly reach out to you. In the event of a successful application, you will receive a formal mortgage offer.

From this point onward, the finalisation of the deal and the transition to your new home are in the capable hands of your solicitor.

Our Mortgage Advice in Cardiff Service

As a dedicated mortgage broker in Cardiff, our utmost priority is to ensure your best interests are at the core of every action we take.

If there are opportunities to save you time, money, and reduce stress, we are committed to seizing them. Our ultimate goal is to place you in the most advantageous financial position possible.

Our authentic customer reviews bear testimony to the enduring relationships we cultivate with those who reach out to us.

These reviews vividly illustrate the positive transformations experienced by individuals through our mortgage advice service, highlighting the profound impact of homeownership facilitated by our expertise.

Tips to Improve Your Credit Score in Cardiff

The credit scoring game often stirs up concerns among both first time buyers in Cardiff and folks who are moving home in Cardiff. Lots of people think it’s an unfair way for mortgage lenders to judge who gets a loan.

But here’s the thing: mortgage lenders don’t quite see it the same way. To them, credit scoring is like a superhero that helps them manage risks better and gives them consistent results, all while keeping costs down.

If you’re anxious over how credit scoring might mess up your mortgage plans, take a breath. Remember, the mortgage world is a mixed bag, with different lenders using their own special scoring methods and rules.

Now, to make this journey smoother, it’s a good move to grab a recent copy of your credit report as you kick off your mortgage adventure.

Handing your Cardiff mortgage advisor an up-to-date credit report right from the get-go gives your chances of getting accepted on your first try a real boost.

This kind of proactive move helps your mortgage advisor really get what’s going on with your financial past. That way, they can find recommendations that are tailor-made for you.

Speaking of credit reports, these things are kind of like chameleons – always changing with the times. So, taking the reins and ironing out any issues or mix-ups on your report beforehand can seriously smooth out your whole mortgage ride.

Don’t worry, your mortgage advisor in Cardiff will know how to climb all those scoring system mountains. They can steer you toward lenders whose rules match your situation like a glove.

They’ve got the knowledge and the contacts, so they can up your chances of landing a mortgage that’s just right for you, all while giving credit scoring a run for its money.

Obtaining a Copy of Your Credit Report

When it comes to credit reference agencies, you’ll recognise names like Experian and Equifax. However, we’d suggest considering CheckMyFile because it gathers information from various sources, giving you a fuller picture.

CheckMyFile is a user-friendly tool to access your credit report. It provides a detailed view of your credit history and financial standing. You can try it out for 30 days, and if needed, cancel without hassle.

Simply use the link below to enjoy a special offer, getting an immediate and free PDF download of your credit report. This helps you quickly review your credit details and address any issues.

This resource is valuable, providing the information you need to make well-informed decisions when applying for a mortgage or dealing with financial matters.

Try it FREE for 30 days, then £14.99 a month – cancel online anytime.

Tips to Improve Your Credit Score

When you’re looking to boost your credit score, it’s smart to be careful with those price comparison websites. They can accidentally trigger credit searches that end up hurting your score. So, it’s a good idea to use them with caution.

Especially if you’re planning to get a mortgage soon, try to avoid taking on more credit during this time. Lenders prefer not to see a sudden increase in your borrowing activities.

Another thing that can actually help your credit score is being on the electoral register. Just make sure your name and address are correct and up-to-date because this info plays a role in shaping how creditworthy you seem.

And speaking of addresses, it’s a good practice to double-check that all your listed addresses are correct. You wouldn’t want to seem like you’re living in multiple places at once, right?

Now, here’s the thing: it’s all about balance when it comes to your credit card. Instead of maxing it out every month, try to use it wisely and pay off the balance completely each time. That shows you’re handling your credit responsibly and can give your score a boost.

Closing down old store or credit card accounts might cause a slight dip in your score at first, but it’s a smart move in the long run. It can actually make you less vulnerable to fraud.

If you’re financially tied to someone like a family member, friend, or ex-partner, through joint accounts or shared financial stuff, their not-so-great credit history might end up affecting your score.

Now, for the accounts that are still active, it might not be that easy to cut these ties. But if the accounts have been closed, you can actually ask credit agencies to disconnect these financial links.

The more you share about your financial situation with our friendly mortgage advisors in Cardiff, the better they can help you out. They know their stuff and having all the details lets them give you tailored advice that really suits your situation.

So, don’t be shy about opening up and keeping the communication flowing. That way, you’re setting yourself up for the best possible support throughout your whole mortgage journey.

How Long Does a Mortgage in Principle Last in Cardiff?

Obtaining an agreement in principle, also known as a mortgage in principle or decision in principle, is a crucial step in determining how much you can potentially borrow before applying for a mortgage.

Typically, a soft credit check is conducted to obtain an agreement in principle, which will not have any impact on your credit score. A hard credit check may be required in some cases.

It’s important to note that there is no obligation to proceed with a mortgage application after receiving an agreement in principle.

At Cardiffmoneyman, we can usually secure an agreement in principle for our clients within 24 hours of their initial mortgage appointment. It’s worth noting that an agreement in principle is usually valid for a period of 30 to 90 days, but it can be renewed.

Our expert team can guide you through the process of renewing your agreement in principle, providing you with the confidence to navigate the property market.

How do I get a mortgage agreement in principle?

In order to obtain an agreement in principle, you’ll need the help of a reliable mortgage broker such as Cardiffmoneyman, who can act on your behalf and communicate with the mortgage lender to obtain this document for you.

You can schedule a free mortgage appointment with one of our experienced mortgage advisors in Cardiff either by using our Get Started online form or by giving us a call.

During this appointment, your mortgage advisor in Cardiff will request proof of your income, employment, credit history, and other relevant personal information that will be useful in determining your eligibility for a mortgage.

Once you’ve provided this information, we are usually able to obtain your agreement in principle for you within 24 hours. This will give you an approximate idea of how much you may be able to borrow, allowing you to proceed with confidence on your home-buying journey.

When should I get an agreement in principle?

Obtaining a mortgage agreement in principle can be a wise decision before starting your property search, as it gives you a general idea of how much you can borrow. This will help you avoid wasting time on properties that are beyond your financial means.

Moreover, having an agreement in principle can give you an advantage when making an offer on a property. Sellers and estate agents may perceive you as a serious buyer, giving you an edge over those without an agreement in principle.

It is crucial to note that an agreement in principle is not a guarantee of a mortgage, but rather a useful tool in the home-buying process.

What information does a mortgage lender look at when you apply for an agreement in principle?

To obtain an agreement in principle, your mortgage advisor in Cardiff will need to collect some personal information from you to pass on to the mortgage lender. This information is used to determine the amount the mortgage lender is willing to lend to you.

The mortgage lender will require your full name, date of birth, current address, and the length of time you have lived there.

They will also need to know your employment status and how long you have been in your current job. Additionally, details of your income, including any bonuses or other sources of income, will be necessary.

Your regular outgoings, such as loans, credit cards, or car finance, will also be considered. Furthermore, your credit history will be checked to evaluate your creditworthiness, including your past credit accounts such as mortgages and loans.

Finally, based on the information provided, the mortgage lender will assess your affordability, taking into account your income and outgoings to calculate how much you can realistically afford to pay each month.

It’s important to note that the mortgage lender may require additional information, such as bank statements or proof of income if you are self employed, before making a final decision on whether to lend to you.

What is the difference between an agreement in principle and a mortgage offer?

An agreement in principle (AIP) is an initial document that outlines the amount a mortgage lender is willing to lend based on the information you have provided. It’s important to note that an AIP does not guarantee a mortgage offer, and there is no legal obligation.

A mortgage offer is a formal agreement from a mortgage lender that confirms they will lend you the necessary funds after conducting a thorough assessment, and is one of the final stages of the mortgage process.

Once it has been accepted, it becomes legally binding and sets out the terms and conditions of the mortgage, including the interest rate, term, and any fees or charges.

To reach this stage, you’ll need to provide more detailed information to the mortgage lender and undergo a comprehensive credit check. The mortgage lender will also require a property valuation.

After receiving the mortgage offer, you may proceed with your property purchase, provided that you meet any conditions stipulated in the offer.

Will having an agreement in principle taken out affect my credit score?

Typically, obtaining an agreement in principle for a mortgage will not significantly impact your credit score, as most mortgage lenders will carry out a soft credit check that won’t be visible on your credit report.

It’s important to note that some mortgage lenders may perform a hard credit check during the agreement in principle process.

This could leave a visible record on your credit report and potentially affect your credit score, especially if you’ve applied for multiple AIPs with different mortgage lenders within a short time.

It’s essential to keep in mind that a mortgage application generally involves a hard credit check, which can impact your credit score.

Therefore, it’s wise to limit the number of mortgage applications you make and only apply for an agreement in principle when you’re genuinely considering purchasing a property.

What is the benefit of having an agreement in principle?

Obtaining an agreement in principle (AIP) for a mortgage provides several benefits that can streamline the property buying process and enhance its efficiency.

Primarily, having an AIP enables you to have a clear understanding of how much you can borrow, which facilitates your search for properties that fall within your budget. This not only saves you valuable time but also helps you avoid the disappointment of viewing properties that are outside your price range.

Secondly, having an AIP can offer you a competitive edge over other potential buyers when making an offer on a property. Sellers may prefer to accept an offer from a buyer who already has an AIP, as it demonstrates that they are committed and actively seeking a mortgage.

Lastly, an AIP can expedite the mortgage application process once you find a property to purchase.

As the lender has already conducted a preliminary assessment of your financial situation and eligibility, they may be able to process your application more efficiently, thereby reducing the time it takes to receive the mortgage offer.

It’s important to note that applying for multiple AIPs with different mortgage lenders within a short period of time could potentially harm your credit score, as some mortgage lenders may conduct a hard credit check.

Therefore, it’s recommended to limit your applications and only apply for an AIP when you are genuinely interested in buying a property.

How much does a mortgage agreement in principle cost?

Obtaining an agreement in principle for a mortgage typically does not involve any fees or charges. It is simply a document provided by a mortgage lender that outlines the amount they are willing to lend to you based on the information you have provided.

It is important to note that an agreement in principle does not mean that you are financially obligated to continue, nor does it guarantee that you will receive a mortgage offer.

What happens if I get rejected for an agreement in principle?

In the event that your mortgage agreement in principle is declined, it indicates that the mortgage lender has determined that you do not qualify for the amount of mortgage you have requested. That said, there may be several reasons why this decision was made.

It is important that you ascertain why your application was declined and take appropriate measures to address any issues. This may involve improving your credit score, reviewing your financial circumstances, or supplying additional information to the mortgage lender.

Being turned down for an agreement in principle does not necessarily imply that your full mortgage application will also be rejected.

The mortgage lender will undertake a more comprehensive assessment of your finances and credit history when you submit a full application, and may propose a different amount or type of mortgage.

Furthermore, it is vital to understand that making multiple applications for agreement in principle with various mortgage lenders may adversely affect your credit score.

Therefore, it is recommended to conduct research in advance and consider working with a mortgage broker in Cardiff to help you find the appropriate mortgage lender for your situation.

Get a Mortgage Agreement in Principle

We would recommend that you speak with a mortgage broker in Cardiff before making any property offers if you are considering first time buyer mortgage in Cardiff or a home mover mortgage in Cardiff.

By obtaining an agreement in principle beforehand, you can determine how much you can borrow and narrow your property search to those within your budget.

As a mortgage broker in Cardiff, we can provide an AIP for you within 24 hours of your initial mortgage appointment, streamlining the process for you.

Book your free mortgage appointment today and let us help you to obtain your agreement in principle, as you head out on your mortgage journey with the support of a trusted mortgage broker in Cardiff.

Get Your AIP First Time Buyer Guides

Should I use a Mortgage Advisor in Cardiff?

If you are planning to take out a mortgage in Cardiff, it is crucial to seek professional mortgage advice in Cardiff at the beginning of your mortgage journey. This applies to all individuals, regardless of whether you are a first-time buyer or considering remortgaging your property.

Obtaining mortgage advice from an expert mortgage broker in Cardiff can make all the difference between a first time buyer in Cardiff having their application accepted or rejected. By seeking the help of a professional, you can benefit from their extensive knowledge and experience in the field of mortgage lending. They will be able to provide you with valuable guidance on what to look for when searching for a suitable mortgage deal, which can be challenging for those who are unfamiliar with the process.

At Cardiffmoneyman, we have a team of experts who are well-equipped to search through thousands of mortgage deals on your behalf. We understand that finding the right mortgage can be a time-consuming and overwhelming process. Therefore, we aim to simplify the process for you by providing you with a range of mortgage options that suit your individual needs and circumstances.

By entrusting us with your mortgage journey, we hope to help you save both time and money. Our team will work closely with you to ensure that you are well-informed about your options and that you make an informed decision that is best for you.

What does a Mortgage Advisor in Cardiff do?

When it comes to finding the best mortgage deal for your circumstances, your dedicated mortgage mdvisor in Cardiff is responsible for the task. Some people believe that there is no significant difference between a mortgage advisor and a broker, but this is only partially true.

Mortgage advisors are trained professionals who work for mortgage broker in Cardiff, independently, or for larger banks or building societies. The difference between them lies in the companies they work for, compared to Cardiffmoneyman.

At Cardiffmoneyman, we have a team of specialist mortgage advisors in Cardiff who are authorised and regulated by the Financial Conduct Authority. They have access to a vast panel of various mortgage lenders, enabling them to select and recommend the most suitable deal for your needs.

In contrast, many advisors who work directly for lenders will only offer their products, and their advice may be biased towards their employer. Our advisors, on the other hand, possess extensive knowledge of lending criteria and have experience providing expert advice to customers with all types of individual situations.

Therefore, by choosing to work with our mortgage advisors in Cardiff, you can rest assured that you will receive impartial and professional advice that is tailored to your unique circumstances. Our advisors will guide you through the mortgage process, helping you understand your options, and ensuring you make an informed decision that best suits your needs.

Why do people get Mortgage Advice in Cardiff?

The process of buying your first property can be overwhelming and confusing, especially for first-time buyers. However, our team of dedicated mortgage advisors is here to help guide you through every step of the way. We understand that the journey to homeownership can be stressful, and that’s why we are committed to supporting you, even beyond the moment you get your keys.

Whether you are a first time buyer or looking to remortgage in Cardiff for home improvements or to release equity, our team of specialist mortgage advisors in Cardiff can provide you with the guidance and advice you need to make informed decisions. We can also assist you if you are purchasing your next property to move into or add to your portfolio.

Our team has extensive knowledge of the mortgage market, and we work with a wide range of lenders to help you find the most suitable mortgage deal. If you are a landlord looking for a buy-to-let mortgage, our team can assist you in finding a suitable mortgage that meets your unique needs.

We believe in taking the time to understand your individual circumstances and financial goals. By doing so, we can provide you with personalised advice that is tailored to your needs, giving you the confidence to make informed decisions throughout your mortgage journey.

Benefits of using a Mortgage Broker in Cardiff

Using a mortgage broker in Cardiff can make the home buying process smoother and less stressful. Our customers appreciate having a knowledgeable and supportive advisor to answer all their questions and concerns throughout the process. In addition, our mortgage brokers can help in the following ways:

Our mortgage advisors in Cardiff are dedicated to ensuring that you have the best possible chance of getting approved for a mortgage. Although there are no guarantees, we will use our expertise to increase your chances of success. We will work with you every step of the way, answering any questions you may have and providing you with the support you need to navigate the complex process of buying a home.

7 Days a Week

We take great pride in providing high-quality service to our customers, seven days a week. At the core of our business is a commitment to putting people first and striving to exceed their expectations. If you’re looking for a mortgage broker in Cardiff, we would be delighted to provide you with a free mortgage consultation with one of our expert advisors.

During your consultation, our mortgage advisor will take the time to understand your unique financial circumstances, answer your questions, and provide you with personalised advice on your mortgage options. We understand that the mortgage process can be daunting, which is why we strive to make it as simple and stress-free as possible.

Our team of mortgage advisors in Cardiff is passionate about helping people achieve their dream of homeownership. We work with a wide range of lenders and have access to exclusive mortgage deals to help you find the most suitable mortgage for your needs. Contact us today to learn more about how we can assist you with your mortgage needs.

Can I Port My Mortgage to a New Property in Cardiff?

Porting Mortgage Advice in Cardiff

As a homeowner with a mortgage to your name, you may find that will find that a significant amount of high street mortgages that are on the market are portable.

To explain how portable mortgages in Cardiff work, a portable mortgage is where you move home, from one property to another, taking your mortgage with you and avoiding the need to pay a penalty charge for doing so.

If you are looking to move into a new home and are currently going through your fixed-rate mortgage deal, a portable mortgage could come in handy as you will have the potential to avoid having an Early Repayment Charge (ERC) for moving.

Are all mortgages portable?

No, not every mortgage deal that is available on the market is portable. This is less likely when you are on a mortgage with a specialist mortgage lender, as their mortgage was probably quite complex to qualify for in the first place and they won’t want you to port it.

To determine whether or not porting your mortgage will be available to you, we would recommend that you get in touch with your mortgage lender and ask them this.

Should I port my mortgage?

Some homeowners may decide that option is not for them and choose not to do so, even if their mortgage is flexible enough for this to be an option that is available to them.

The reason that these customers may not wish to proceed with porting their mortgage, can be down to a variety of factors. This can include situations where perhaps a mortgage lender isn’t willing to lend the extra funds, or differing interest rates in those additional funds.

It may be worth your while accepting the Early Repayment Charge (ERC) and move to a different mortgage lender altogether, if it works out cheaper to go to that new deal.

What is a sub-account?

This is a type of account that will be attached to your mortgage when you look to port it and the additional funds will move onto a deal that is different to your original mortgage.

Because of this, each of these will be on two different rates of interest that are applied on both the mortgage and the direct debit.

In the future, the fact that the products can overlap may become problematic, and this might need looking at down the line, in order to get them realigned. This may mean one of the sub-accounts falling onto a lenders variable rate briefly.

Mortgage Advice in Cardiff for Porting Your Mortgage

If you are looking for moving home mortgage advice in Cardiff or you are looking for a buy to let mortgage in Cardiff, get in touch and speak to a mortgage expert today.

We are experienced in helping thousands of mortgage applicants in situations like this, and will do what we can to assist with all of your mortgage needs.

Removing a Name From a Mortgage in Cardiff

Specialist Mortgage Advice in Cardiff

Every now and again we come across a customer who would like to remove someone else’s name from a mortgage. As a mortgage broker in Cardiff, the main reason we hear for this is divorce or separation.

When encountering an instance such as this, sorting out your joint financial commitments should be your primary focus, to prevent any challenges down the line. Unfortunately, they’re often left until last.

Doing so makes the process a lot more difficult, stressful and much more time-consuming, so you should always do this ahead of time. Speaking to a mortgage broker in Cardiff is a good way to get on top of this.

The Downside to Not Removing Your Name

Leaving your name tied to someone else financially can be problematic for you in the long run, due to a few reasons.

The first being that because your name is still tied, you will still be chased for missed mortgage payments, whether you live there or not. There is no getting out of that situation once you are in it, as you are legally responsible until removed.

Additionally, your credit score will also be affected by the financial association. If the other person’s credit score drops, so too will yours. Furthermore, if you were looking to take out a mortgage of your own, in your own name, you would be finding yourself in a difficult process.

For one, it will affect your affordability, as the mortgage lender will see it as an already large financial outgoing. This means you will not be able to borrow as much for your property purchase.

On top of this, you could be faced with higher Stamp Duty tax implications because you will be purchasing a new property whilst technically still owning one already. This can end up being quite costly.

All in all, it is best practice to remove your name from someone else’s mortgage as soon as you possibly can.

How to Remove a Name From a Mortgage

If you are the person who will be taking on the property and full responsibility for mortgage payments, the first step is to find out whether or not you are eligible for a remortgage onto a new deal as a sole name applicant.

Speaking directly with your mortgage lender/building society or getting in touch with a mortgage broker in Cardiff will help you to determine this.

Prior to removing someone else’s name from a mortgage, it is important that you both agree who will be getting the property. If you disagree, you may end up forking out on court costs to come to some sort of decision.

If you are currently experiencing divorce or separation, it will definitely be worth your while in seeking specialist mortgage advice in Cardiff. An expert mortgage advisor in Cardiff will be able to help you with your mortgage process.

Mortgages After Separation & Divorce | MoneymanTV

Need help removing a name from a mortgage?

If you require any help removing someone else’s name from your mortgage, it is absolutely worth your time getting help from a specialist mortgage broker to help you remortgage in Cardiff.

We are here to provide expert mortgage advice in Cardiff, 7 days a week including weekends and some bank holidays, to provide support and guidance throughout your remortgage process. Book your free remortgage review today and we will see how we can help.

The Importance of Changing Your Address in Cardiff

Get Mortgage Ready in Cardiff

When it is time to prepare your mortgage application, you must consider your credit file and how it will look to a lender. Remember that a lender is looking for reliability; someone who will be able to meet their repayments.

It’s not just reliability that lenders are looking for though, they will also be looking at your credit file, and even more specifically, what is linked to it. This includes credit accounts, store cards and even your Amazon account! What all of these have in common is they hold your personal details, such as your address. And, believe it or not, lenders pay very close attention to this address…

Why do lenders look at your address?

Lenders want all of your addresses to match across all of your credit accounts, store cards, billing information, etc. They will look at this once you have submitted your mortgage application.

A wrong address linked with a credit card will be more serious than your billing information on your amazon account, as it could be a sign of identity theft.

They also want to know that you are reliable and you are who you say that you are. If you have your name registered to different addresses, then how do they know you live where you say that you live? It will appear to them that you are living in two places at once.

Does it affect me as a First Time Buyer in Cardiff?

As a first time buyer in Cardiff, if you are still living with your parents/carers, lenders will expect all of your addresses to link back to their home address.

If you are a tenant, you are expected to have updated your address to your current rented property. You should have done this upon moving into the new property.

As a mortgage broker in Cardiff, we often find that the majority of people that slip up on this are home movers.

Does it affect me as a Home Mover in Cardiff?

We find that it is those moving home that are most affected by an old address on their application. This is because the applicant is likely to have their addresses registered to the property before their current one. This could be their parents’/carers’ address, and they have forgotten to update their details since moving into their first home.

For example, if a bank card is still registered to your parent’s address, your parent’s address will not match the current address on your bank statements. Lenders will pick up on this.

Are fewer addresses better?

Yes, having fewer addresses on record is better overall, however, do not make this a reason to not change your details to your current address before moving.

If you are moving home in Cardiff, remember to double-check that you updated your details before submitting your mortgage application.

How can a Mortgage Broker in Cardiff help?

As a Mortgage Broker in Cardiff, our job is to guide you through the mortgage process, even helping you prepare your application. We will check over your credit file and make sure that everything is aligned.

We will alert you of any bits that need changing out that will boost your chances of being accepted by your lender. Remember that it’s not just your credit file that lenders will look at. For example, lenders will analyse your bank statements, payslips and your most recent P60. They will also need photographic identification to support that you are who you say that you are.

You can book a free mortgage appointment online via our ‘get started’ form. There are plenty of appointments available, 7 days a week. We have appointments early in the morning and late in the evening.

Get in touch as our team can’t wait to help you!

How to Make an Offer on a Property in Cardiff

Getting Prepared to Make an Offer

If you have your heart set on a property and are ready to make an offer to purchase it, you may be left scratching your head, unsure of what exactly you should do next.

It’s not as simple as just approaching a seller and asking to buy the property, there is a lot you need to do ahead of time in order to prepare for this step.

Tips For Making an Offer on a Property

Get a Mortgage Agreement in Principle

Obtaining an Agreement in Principle is a key part in the process of buying a home. It is a written statement of approval from the mortgage lender that confirms that in principle, they are willing to lend you the desired amount to purchase the property, subject to further checks.

It’s for this reason why you will need to make sure that you have one to hand, as a home seller or estate agent will want to know that you actually have the funds to proceed, avoiding any possible wasted time on both their end and yours.

During the COVID-19 lockdown periods in 2020, you even needed an Agreement in Principle to view a property, let alone buy it. This was to limit the viewings only to people who could proceed there and then if they wanted to make a purchase.

As an experienced mortgage broker in Cardiff, we always recommend preparing ahead of time and putting yourself in a better position than other buyers, by obtaining an Agreement in Principle as early as you can.

In most cases, you will never be able to compete with a cash buyer of a property. Lenders love it when someone can make a payment on the spot, without having to wait for a mortgage to complete.

That being said, by obtaining your AIP, you may be able to increase your odds against cash buyers and even other possible home buyers.

If you have an Agreement in Principle to hand, you are demonstrating to the seller that you are very serious and do have the funds to proceed.

It also puts you in a higher position than other buyers who maybe do have the funds, but haven’t gotten an AIP of their own.

This is one of the benefits of getting in touch with a dedicated mortgage broker in Cardiff. Our dedicated mortgage advisors in Cardiff will be able to obtain one of these within 24 hours of your initial free mortgage appointment.

Be Prepared to Negotiate with The Seller

Buying a property is all a matter of negotiation. If the offer that you put forward to the seller is rejected, you will be asked about potentially increasing your offer.

If you believe that the property is indeed worth the increase and you want it, you may have to be prepared to spend a little more than you had planned.

Don’t be worried though if your first offer is declined, this has happened to lots of First Time Buyers in Cardiff in the past and they are still able to secure a property down the line at some point.

If your second offer is also declined, you possibly have to be prepared to pay the asking price. This is where it pays to make sure that you have done plenty of research ahead of time.

Before you make any offers, you should always have a look at the other properties in the local area and see what they are selling for on sites like Zoopla or Rightmove. This may give you a general idea of what to offer the property seller.

You should also look for how long the property has been on the open market. If it is a new listing, the seller may want the asking price, whereas if it’s a long-time listing, the seller may accept a lower offer just to have it taken off their hands.

If you come across houses that have gone for amounts that are less than they are worth, there is usually a very good reason for it. It may have possibly been repossessed, sold to at a discounted price to a residing tenant or an inter-family sale.

Speak to a Mortgage Advisor in Cardiff today

For any mortgage advice relating to this specialist subject, feel free to contact our expert mortgage advisors in Cardiff today.

If you are in need of any help with making an offer as a First Time Buyer in Cardiff or perhaps just want a mortgage advisor in Cardiff to walk you through it and get a great deal, we’ll always be on hand to guide you throughout the process.

Our team of mortgage advisors in Cardiff are available all throughout the week, so book your free mortgage appointment online and get your journey started today.

Shared Ownership in Cardiff – What is it? How does it work?

The Shared Ownership Scheme is a government-initiated mortgage programme in the United Kingdom, designed to facilitate individuals in their pursuit of homeownership.

This scheme is open to permanent UK residents, encompassing both first time buyers in Cardiff and former homeowners who may be facing challenges in acquiring a new residence.

To be eligible, your household income must not exceed £80,000, and the property you intend to purchase is typically a leasehold. In a leasehold arrangement, you acquire the property for a predetermined period.

Participating in a Shared Ownership in Cardiff allows you to buy your home through a combination of a mortgage (usually covering a portion ranging from 25-75% of the property) and rental payments.

The rent, which may encompass service charges and ground rent, is generally set at a more affordable rate compared to market prices and is paid to a housing association.

Updates to The Shared Ownership Mortgage Scheme

From April 2021 onwards, the Shared Ownership Scheme underwent significant updates as part of the government’s Affordable Homes Programme. These modifications introduced several notable changes.

Firstly, the minimum requirement for property share purchases, previously set at 25%, has been revised. In certain cases, it can now be as low as 10%.

Additionally, when acquiring additional shares, the previous requirement of 5-10% minimum shares has been replaced, and individuals can now purchase them in 1% increments. Furthermore, the fees associated with buying these additional shares have seen a reduction.

Notably, the responsibility for maintenance and repair costs, which were previously borne by the homeowner, has shifted. Your landlord will now cover these expenses for the initial 10 years of ownership.

If you secured a Shared Ownership Mortgage in Cardiff before this timeframe, these new regulations may potentially apply to your situation moving forward. However, it’s advisable to confirm these specifics with your provider, as the applicability could be determined on a case-by-case basis.

How do I apply for Shared Ownership in Cardiff?

Before delving into the mortgage aspect of the process, your initial step involves confirming your eligibility for Shared Ownership in Cardiff. To accomplish this, your first point of contact should be your local Help to Buy agent in the area where you intend to make your purchase.

During this conversation, you will typically be required to furnish specific details, including your income, available budget, preferred location, and your credit history. Once your eligibility is established, you can proceed with the mortgage application.

Engaging the services of a mortgage broker is highly recommended in this phase, as not all mortgage lenders extend their services to individuals seeking Shared Ownership in Cardiff.

The amount you can borrow will typically be determined by various factors, including your income and additional costs such as rent.

Pros & Cons of Shared Ownership in Cardiff

When considering a Shared Ownership Mortgage in Cardiff, it’s essential to weigh the pros and cons. It’s important to note that, as previously mentioned, not all mortgage lenders extend their services to applicants using the Shared Ownership Scheme.

However, there are numerous mortgage lenders, including those within our panel, who do offer these types of mortgages. Additionally, Shared Ownership Mortgages in Cardiff can provide a sense of long-term stability, as you become both an owner and occupier simultaneously.

Deposits can be a stumbling block for many homebuyers, given the challenge of saving a substantial sum. Fortunately, Shared Ownership Mortgages typically require lower deposits compared to open-market purchases. This accessibility aspect makes mortgages more attainable for individuals with modest incomes.

While these advantages are notable, it’s important to keep in mind that you are responsible for 100% of the ground rent and service charges on your property, regardless of the share you have purchased. A feature called “staircasing” typically allows you to gradually acquire more shares over time, ultimately reaching 100%.

Upon achieving full ownership, you will no longer be obligated to pay rent, but your mortgage, ground rent, and service charges will persist. However, when your owned share surpasses 80%, you may be subject to Stamp Duty on the entire property value. It’s worth noting that this land tax might not apply in the case of a first-time purchase.

Despite potential Stamp Duty costs, monthly mortgage payments are often more affordable than traditional mortgages, and in some cases, even cheaper than private rent.

Additionally, Shared Ownership offers tenure security, ensuring you can remain in your home for the duration of your lease, which typically spans between 99 and 125 years.

As your home is jointly owned, you will need permission from the housing provider before making any structural alterations. This requirement may affect the sense of autonomy you would have if you owned the property outright.

Can I sell my home if I have a Shared Ownership Mortgage in Cardiff?

Should you decide that homeownership is no longer the right fit for you and you wish to sell your property in order to relocate, the process differs somewhat with a Shared Ownership Mortgage in Cardiff.

While selling a property with most other mortgage types is typically straightforward, provided your fixed period has concluded, Shared Ownership entails a unique approach.

The feasibility of selling your property with a Shared Ownership Mortgage in Cardiff hinges on the proportion of the property you own in shares. Generally, you will need to possess 100% ownership of the property before considering a sale.

It is important to understand that the housing association typically holds ‘first refusal’ rights for the initial 21 years following your property purchase. This legal provision grants them the prerogative to make an offer to acquire the property themselves before you proceed to place it on the open market.

If you do not hold 100% ownership of the property, the initial step would be to explore the acquisition of the remaining shares of the property, subsequently allowing you to contemplate its sale.

Is Shared Ownership in Cardiff right for me?

Shared Ownership in Cardiff offers a promising opportunity for first-time buyers with aspirations of stepping onto the property ladder, particularly when their deposit may be on the smaller side. This mortgage scheme can serve as a valuable tool in realising your homeownership goals.

However, it’s important to acknowledge that embarking on a Shared Ownership Mortgage journey can be intricate, involving various fees and contractual nuances. To ensure you’re adequately prepared and well-versed in the contractual particulars, it’s essential to be thorough and well-informed.

Ultimately, the decision revolves around personal preference and your specific circumstances. By scheduling a complimentary mortgage appointment with a reputable mortgage broker in Cardiff, you can engage with a trusted mortgage advisor and adequately prepare if you’re contemplating this route.

For an in-depth understanding of the Shared Ownership Mortgage Scheme, you can explore further information on the government’s OwnYourHome website.

Top Tips on how to Sell Your Home Quickly in Cardiff

Whilst moving home may seem straightforward, you also have to remember that you have to sell your home at the same time. Moving and selling at the same time can be stressful, and sometimes it can feel like all you want to do is quickly sell your home.

So how can you do it? How can you quickly get your house on and off the market and sell it for the price that you want to? Here are some tips that could maybe help you sell your home quickly:

Top Tips for Selling Your Home & Moving in Cardiff

1. Realistic Asking Prices

There’s always a magic number when it comes to choosing what price you should put your property on the market; it can sometimes be hard to find, but once you do, you’ll know right away.

Getting the perfect balance between what you want for it and what a buyer is willing to pay is what you need to try and get to.

To get this number, it’s likely that you’ll need to get your property surveyed. Your estate agent will suggest the highest potential sale price, however, just because it’s a suggestion, doesn’t mean that it’s the right thing to do.

As a mortgage broker in Cardiff, we would recommend using sites like Zoopla and Rightmove. These sites can be used to compare houses that are similar to yours. For example, you could compare their prices to what your estate agent suggested you could list yours at.

Once you have a feel of what other people are doing, it may be time to set a price. You’ll know right away whether you’ve set the right price or not, as you’ll start receiving property viewings right away.

If your property receives no initial interest, then it may be time to reevaluate your asking price. Even though you’ve done your research and you want a certain amount, if no one is interested in your property and you want a quick sale, you’ll have to lower your starting price.

2. Perception of Your Home

Thinking of how your home looks in another person’s shoes can be difficult, but we definitely suggest that you try it.

Think about how your house looks from the outside and the inside. What is the first thing that they will see when they walk up to your house? What’s the first thing they’ll see when they walk into your house? It’s likely that the way that you view your house will be the same way that everyone else does.

3. Cleaning The House, Inside and Out

Linking to the last point, before you invite people into your home, the first thing that they’ll see is the front garden and the exterior of the property.

With this in mind, it may be a good idea to make your front garden presentable and tidy to welcome house viewers into the property. This could be from replanting flowers to jet washing the drive and cleaning your windows – every little helps.

Cleaning the inside of the property is a must when it comes to selling your home. You want to show people that you look after the house and have kept everything in shape in your time living there. Make sure that clean all throughout the property, in particular, the kitchen and the bathroom.

We also recommend that you remove clutter and obstructions that will avoid people walking around the house easily. The last thing you walk during a house viewing is for your guests to be squeezing through doorways and steeping over clutter.

It’s also not a bad idea to make things look coordinated, e.g. towels in order. Little things like this can often catch people’s eye, again referring to the fact that you look after the property.

4. Ensuring The Viewer Feels Comfortable

Every guest should feel relaxed and welcomed as soon as they enter your home. You want them to get the feeling that the property could be their new home. It can be difficult for it not to happen, however, having pets or children around during a house viewing could potentially put off buyers.

On the other hand, a great way to send out a message that this is a ‘family home’ would be to have children around and pictures up on the wall of your family.

Believe it or not, having family pictures up around your home can make the viewer feel welcome and comfortable. This will especially help if the person viewing the house has a family or is planning to start one.

Sometimes, it can also be a good idea to let your guests view the property themselves. You could let them have a wander around on their own if it’s appropriate.

In some cases, we’ve also seen people leave the house or go for a walk so that your guests can have time to explore the house without it being too crowded.

Here are some other simple ways to make your guests feel more comfortable:

5. Making Your Back Garden Presentable

The back garden is usually the last stop of the house viewing, therefore you want to make it as presentable as you can.

This means replanting flowers, tidying hedges and trees, running the lawnmower over the grass, painting your fences, etc. Anything that makes your garden look relaxing and welcoming could positively boost their overall opinion of your house.

We also advise that you don’t just put clutter and rubbish inside of your garage because it’s likely that your house viewers could ask to see inside of it to see what sort of space there is in it. The last thing that they’ll want to see is a garage full of random things that you’ve tried to hide away.

Summary

In summary, make your home feel welcoming, make the person viewing the house comfortable and try to think “what would I think if I were in their shoes?”. A potential buyer may become a guaranteed buyer if they are pleased with your home!

Minor damages and repairs may need to be carried out on the property, however, we do advise that you get this arranged prior to putting the house on the market. If you’re moving home in Cardiff, you’ll know what to look for in a new home, so apply it yours too.

For moving home advice, speak to a mortgage advisor today, if you’re looking at moving home in Cardiff. Our team are highly experienced when it comes to helping people move home – we’ve been doing it for 20 years!

Get in touch for a free moving home consultation today.

Cardiffmoneyman.com & Cardiffmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.

UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.

We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk

Equity Release Council Logo Solla Later Life Logo
Facebook Image X Image Instagram Image YouTube Image LinkedIn Image SpotifyImage TikTok Image

Speak to an Advisor – It’s free!
7 Days a Week, 8am – 10pm

Speak to an Advisor – It’s Free Enquire Online 029 2010 2804
We use cookies to enhance your customer experience. More detailsGot It