Specialist Mortgage Advice in Cardiff

Speak to a Specialist Mortgage Advisor in Cardiff

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Declined by your Bank in Cardiff? We May be Able to Help!

For some applicants, getting a mortgage can be a fairly straightforward process, just lengthy, however, others can experience a very difficult time and may find it tricky to find a deal that is suitable for their personal and financial situation. We hate seeing struggling applicants and that’s why we want to offer a helping hand. It can be a shock to find out that you’ve been declined for a mortgage; don’t let it get you down, come to your Mortgage Broker in Cardiff and we will see what we can do to help!

Speak to a Specialist Mortgage Advisor in Cardiff

Our Specialist Mortgage Advisors in Cardiff have access to 1000s of mortgage products. Our large panel of specialist lenders hold many different kinds of deals and it’s your advisor’s job to try and pick one out for you.

 

If you have been declined by your bank, it is important that you do not keep applying for lots of different deals through the same or different banks. There will be a reason why you have been declined. Your Mortgage Advisor in Cardiff may be able to identify the reason why you have been declined and will search for deals that you will be able to access in your current situation.

 

We will try and do everything that we can to get you a deal that is tailored to your personal and financial situation.

Complex Mortgage Situation in Cardiff?

Many of our customers have reached out to us for help after being declined by their bank. Even if the situation seems too complicated to you, it may not be for us! We have been working in the mortgage industry for over 20 years now and there is rarely a situation that we have come across before.

 

We deal with all different kinds of mortgage situations; from trying to remove your name from a mortgage to obtain a new mortgage, to trying to consolidate debt into your mortgage, we will try our best to come up with a solution for you and your case.

 

You can book your free mortgage appointment online, 7 days a week. There are slots available early in the morning and late in the evening, you can choose a time that best suits you!

 

How does it work?Get a quote nowMeet your advisor

We search 1000s of mortgage deals across a large number of lenders, including:

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An In-Depth Look at Specialist Mortgage Scenarios

When you are faced with a tricky mortgage situation and you are struggling to find products that you are able to match, it may be time to consider getting Mortgage Advice in Cardiff. We can go through your situation in step by step and try to work out a solution together.

 

It’s not unusual for us to encounter different, complex scenarios, however, most of the time we have already dealt with a similar situation before and are able to help. Here are some of the most common mortgage scenarios that we come across:

Property Down Valuation

When you make an offer on a property, you will need to take out a mortgage to cover the full costs of the sale. After a property survey is carried out, in some cases the results can show that the value of the property is not worth as much as your offer. This could be down to interior/exterior damages, other similar properties being valued lower or something else that the survey results will show.

 

This is called a property down valuation. The lender will see that the property is worth less than you originally offered and will not want to let you borrow as much as you want to. The lender could even pull out of the deal completely.

 

If you can make up the difference with your own savings or can come up with an agreement between you and the seller that’s great, however, sometimes the seller won’t budge their offer and you may have to move on.

Divorce & Separation Mortgage Advice

If your relationship unfortunately starts to break down and you divorce or separate, sorting out any joint finances, like your mortgage, can be quite difficult to work with. You need to make sure you get this sorted as soon as possible, as the longer you leave it, the more challenging it will be.

 

When going through a divorce or separation whilst living with your partner, things can get complicated. All of your joint finances, like your mortgage, will need sorting out. This should be done sooner rather than later.

 

Whether it’s you or your partner looking to get a new mortgage, we may be able to help form an agreement between both parties.

Remove a Name From a Mortgage

Following a divorce or separation, it’s most likely that someone is going to want to remove their name from the original mortgage. This could be you or your ex.

 

You can only remove a name if both parties are financially stable without one another. For example, if you want to remove your name from the mortgage but your ex cannot afford to meet the payments on their own, you may struggle to get your name removed right away, and vice versa.

Single Name Mortgages for Married Applicants

It is possible to achieve a sole name mortgage on a property, however, lenders would much prefer you to take out a joint mortgage under one roof. Applying for a joint mortgage would also make your ability to get accepted much easier.

Shared Ownership

The Shared Ownership scheme allows applicants to purchase a share in a property and then pay the remainder back through rent. The percentage share that you have to purchase has to be between 25%-75%, but in some cases, you can purchase as little as 10%.

 

The remaining share is likely to be owned by the local authority. In the future, you may get the option to purchase the rest of the property or just increase your percentage share.

Professional Mortgages

Professional mortgages are limited to certain professions across the country. This area of the market is very niche, therefore, we would recommend getting in touch with a specialist like ourselves to learn more about this.

Second Home Mortgages

If you are thinking of purchasing a second property and need to take out a mortgage with it, you will first have to demonstrate your ability to afford two sets of mortgage repayments.

 

You will need to prove this through evidential documents; this will be your bank statements, P60 and payslips. We can help you prepare for this.

Holiday Home/Let Mortgages

Holiday let mortgages work similarly to Buy to Let mortgages, however, a holiday home will not generate regular income with long term tenants. Your income will generate in short periods and for the rest of the time, you will have to compensate for the repayments on your own.

 

During off-peak holiday times, you may see your holiday let income deplete. This is why the lender has to be certain that you can afford two sets of income before granting you a mortgage on the property.

New Build Mortgages

New builds can often come with high costs, especially because of the high demand for property in recent years.

 

If you’re struggling to save up for a deposit, there are various government schemes made for helping new buyers secure new build properties. You could utilise the Help to Buy Equity Loan scheme, Lifetime ISA or the Shared Ownership scheme.

Non-Standard Construction Property Mortgages

A ‘non-standard’ property is a property that has not been built in a conventional way, i.e., with bricks or mortar.

 

If you are planning to take out a mortgage on a ‘non-standard’ property, then you will need to search for a specialist deal. We would also recommend paying that bit extra to get a full structural property survey carried out on the property just in case there is something wrong with it.

Multiple Applicant/House of Multiple Occupation Mortgages

HMO mortgages are a type of Buy to Let. This type of mortgage allows you to have between 4-6 tenants in a property, similar to student housing.

 

Before obtaining a HMO mortgage, you may have to converse with the council to obtain a HMO license. This is only the case when there are 5 or more unrelated applicants living inside the property or there are 2 or more separate households living inside the property.

 

We would suggest seeking specialist Buy to Let Mortgage Advice in Cardiff if you are interested in HMO mortgages.

Mortgages Past Retirement Date/Lifetime Mortgages

A Lifetime Mortgage allows you to release equity within your home to create a lump sum of cash. You will have to be over the age of 55 to access this mortgage type.

 

It’s strongly recommended that you speak with a mortgage specialist before rushing into equity release, it can get complicated very quickly if you don’t quite know what you are doing.

Offset Mortgages

Offset mortgages allow you to run a savings account parallel with your mortgage. It can be a really useful way to help you access competitive interest rates and mortgage products.

Do you Require a Specialist Mortgage Advisor in Cardiff?

We are always on hand to answer your mortgage questions, every day of the week! No question is a stupid question; feel free to get in touch anytime that you want to discuss your mortgage options.

20 Years of Experience

We’ve been working with complex mortgage situations for over 20 years now. Each of our Mortgage Advisors in Cardiff is fully qualified and trained to help you through your mortgage. They will try their best in every situation, no matter what they are faced with.

 

Over time, we have managed to learn the ins and outs of our lender’s products and how to find the perfect one for each client. We will evaluate your personal and financial situation and then take it from there.

Free Mortgage Appointment

Your free mortgage appointment awaits with a dedicated Mortgage Advisor in Cardiff. Once you book your free mortgage appointment online, you will be able to talk one-to-one with your own advisor who has been chosen for you based on your circumstances.

 

We are open 7 days a week so that you can get in touch at a time that best suits you. Put your personal and working life first, then have your mortgage appointment with an advisor.

We Search 1000s of Deals

Our huge catalogue of mortgage lenders features both high street and specialist names. Each lender holds their own unique products that match various types of mortgage situations.

 

Our job is to try and locate the perfect deal for you based on the information that you provided us with during your free mortgage appointment in Cardiff. We will always put you first; we want the best for you in all cases.

Customer Service

Customer service is at the heart of our company, we always go above and beyond for customers to ensure that they receive the best service possible. Take a look at our amazing reviews to see what others have thought about our levels of customer service.

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Common mortgage
questions

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 Cardiff. 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 Cardiff 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 Cardiff, 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 Cardiff.

First of all, your free mortgage consultation should last around 30-60 minutes. Once this is complete, your Mortgage Advisor in Cardiff 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:

– Latest 3 Payslips (Employed), Last 2 years’ Accounts (Self-Employed)
– Latest 3 Months’ Bank Statements
– Latest P60
– Photographic ID

During your mortgage application in Cardiff, if you’re Self-Employed, you’ll need to submit at least one year’s accounts. As a Mortgage Broker in Cardiff, 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
– Debt Consolidation
– Home Improvements
– Second Home
– Marital / Relationship Breakdown

We make it so easy!
Our 4 step process

Step 1

A telephone call where we can take some initial details and find out about your plan of action.

Step 2

Enjoy finding a property in Cardiff!

Step 3

Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.

Step 4

Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.

A telephone call where we can take some initial details and find out about your plan of action.

Enjoy finding a property!

Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.

Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.

Handy quick links

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

The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
Should you have cause to complain and you are not satisfied with our response to your complaint, you may be able to refer it
to the Financial Ombudsman Service, which can be contacted as follows

The Financial Ombudsman Service, Exchange Tower, London, E14 9SR
www.financial-ombudsman.org.uk

© 2022 Cardiffmoneyman

Cardiffmoneyman, 4th Floor, 14 Museum Place, City centre, Cardiff, CF10 3BH.

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