Mortgage Broker in Newport

It is quite common for people who are first-time buyers to seek the aid of a mortgage broker in Newport, as without any experience under their belt, they may not know what to do.

That being said, even if you’ve done this before and are moving home or taking out a Remortgage, you may find going to a mortgage broker very beneficial. We are experts at saving both time and money, dedicated to finding you the most appropriate mortgage deal for your personal situation.

We’ll put in the work on your behalf! Using our in-depth knowledge of lender criteria, we will be able to compare your needs with thousands of different mortgage products, doing our best to find one with a competitive rate and that is most ideal for your financial circumstances.

If you are looking at the possibility of remortgaging, we are also able to discuss this with you. You have a variety of options, including capital raising for home improvements or paying off existing credit cards and loans.

By getting in touch with a mortgage advisor in Newport, you could end up with a much better deal; we use our expertise to find one that benefits you!

Your free initial mortgage consultation will last around 30-60 minutes. During your consultation, you will get to speak with your dedicated Mortgage Advisor in Newport. Their job will be to get a better understanding of your mortgage needs and situation so that they can search for the perfect mortgage deal for your personal and financial situation.

Typically, most High Street Lenders will require a 5% deposit from you. However, depending on your credit history, your lender may ask for 10%-15%.

It can still be possible to get a mortgage, even with bad credit problems in the past. Even though it may be a little harder, it isn’t impossible!

You may have to put down a higher deposit if you have bad credit, this could be 10%-15%.

Your first job is to carry out our mortgage Fact Find so that we can get an idea of your mortgage needs and what sort of deals you want to be looking for.

Afterwards, we will book you in with a Mortgage Advisor in Newport who will get a couple more pieces of information from you.

Then we can arrrange an Agreement in Principle for you within 24-hours to increase the chances of the seller accepting your offer.

If you’ve found yoru dream home, and are happy with our mortgage recommendation, we can start the mortgage application process! A formal mortgage offer can take longer than 3 weeks, during which, we will keep you informed with the progress of your application.

As a Mortgage Broker in Newport, we recommend that our applicants obtain an Agreement in Principle (AIP) as soon as possible. Having an AIP whilst you’re viewing properties can increase your chances of being accepted by the seller. It may also allow an opportunity for price negotiation.

Once you have an Agreement in Principle (AIP) in place, it should last between 30-90 days. If your AIP expires, you can easily renew it by getting back in touch with your Mortgage Advisor in Newport.

First of all, your free mortgage consultation should last around 30-60 minutes. Once this is complete, your Mortgage Advisor in Newport will obtain an Agreement in Principle for you within 24-hours. Then, if you are happy to proceed with the deal that your advisor has recommended, we can submit your mortgage application. A formal mortgage offer can take on average around 3 weeks to return.

During your mortgage application, you’ll be asked to provide evidencing documents:

• Proof of income (last 2/3 months bank statements or SA302 tax returns if you are self-employed).
• Proof of deposit.
• ID & current address.
• Latest or current P60.
• Proof of rental income.

During your mortgage application in Newport, if you’re Self-Employed, you’ll need to submit at least one year’s accounts. As a Mortgage Broker in Newport, we’ve found that most lenders use your salary plus dividend to calculate the maximum mortgage amount that you can borrow. Although, some lenders may choose to go off your net profit.

Depending on why you want to get a second mortgage, it may be easier to get one than not. There are various reasons why someone may want a second mortgage, for example:

• Buy to Let mortgage
• Debt Consolidation
• Home Improvements
• Second Home Mortgage
• Marital / Relationship Breakdown

The same fees that were involved with your first mortgage purchase will be similar to those when you Remortgage. Your Remortgage Advisor in Newport will run through all of the costs and fees so that you know exactly what you are paying for.

Your free Remortgage consultation will last around 30-60 minutes. During your consultation, your dedicated Remortgage Advisor in Newport will learn a little more about your Remortgage needs and situation. With this information, they can then go and search for the perfect deal for you.

We will always be open and honest with you; if we can’t find you a better product, we will be transparent with you and tell you so.

Yes, you can consolidate your debts into your mortgage, but you should only do so if it’s absolutely necessary.

If you have built up any unsecured debts, you can remortgage and increase the size of your mortgage to incorporate the debt. There are downsides to debt consolidation though, so sometimes it may be beneficial to speak to a professional Mortgage Advisor in Newport.

You should always keep on top of when it’s time for you to Remortgage. When you come to the end of your mortgage term, you will slip onto your lender’s standard variable rate of interest (SVR). A lenders SVR is not going to be their best rate, so before you end up on their SVR, you should search for Remortgage / product transfer deals.

More often than not, assuming that mortgage payments have been kept up-to-date, people are able to access a better mortgage rate and don’t even know it. All you need to do is shop around or appraoch a Mortgage Broker in Newport like us.

Whether you’re a current or aspiring landlord, you’re usually going to need 20%-40% of the property value for a Buy to Let in Newport. Typically, it’s around the 25% mark.

It’s likely that you’ll be given a council discount on your Right to Buy; as a Mortgage Broker in Newport, we’ve found that most lenders will use this as your deposit.

However, we’ve also seen that some lenders will still require a deposit for your Right to Buy mortgage on top of the discount. If you’ve had a poor credit history, lenders are likely to use this approach.