Mortgage Broker in Swansea

If you have previously been declined by your bank, it may be time to get Mortgage Advice in Swansea, as if you keep applying for products and get declined, you could massively harm your credit score.

This could also impact your ability to get accepted for a mortgage. We will need an up-to-date copy of your credit report at the very start of the mortgage process.

This will help us get an idea of your credit rating and how you manage your finances.

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 Swansea.

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 Swansea who will get a couple more pieces of information from you.

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

If you’ve found your 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 Swansea, 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 Swansea.

First of all, your free initial mortgage consultation should last around 30-60 minutes. Once this is complete, your Mortgage Advisor in Swansea 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 Swansea, if you’re Self-Employed, you’ll need to submit at least one year’s accounts.

As a Mortgage Broker in Swansea, 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