Your mortgage journey begins as soon as you get in touch with our team. We will send you over a fact find to fill out so we can learn a bit more about your personal and financial situation.
The next step of the process is for us to book you in for our free mortgage consultation so we can begin searching for the perfect mortgage product for you. We will also arrange a mortgage agreement in principle for you.
Once you’ve provided documents to support your agreement in principle, we can start preparing your mortgage application!
When you come to the end of your fixed-mortgage term, it’s likely that you’ll drop straight onto your lender’s standard variable rate of interest (SVR). Their rate usually tracks the Bank of England’s base rate on top of their own percentage. So, if you end up on their rate, it’s likely that you will pay more per month than you usually do.
This answer can change depending on the lender that you’ve used and how large the unsecured debt is that you’ve built up. But yes, sometimes you may be able to remortgage to incorporate your debts into your mortgage. When you do this, your monthly mortgage payments will increase and so could your mortgage term.
Before consolidating your debts into your mortgage, we would recommend that you speak with a professional Mortgage Advisor in Middlesbrough. Debt consolidation has both positives and negatives, so don’t rush into anything first.
Your free mortgage consultation with your dedicated Remortgage Advisor in Middlesbrough will roughly around 1 hour. During your consultation, we will review your current mortgage deal and see whether or not you can access a better rate. We will also run through all of your other possible remortgage options.
If we think that you can access a better rate, we will search through 1000’s of remortgage deals and try to find the perfect one for you.
The fees that are involved with remortgaging are similar to those that came with your first mortgage set-up.
If you speak to a Remortgage Advisor in Middlesbrough, they wrun through all of these fees with you. They will take these fees into consideration when comparing the savings of the new deal vs your current mortgage.
Yes, it may be possible to get a second mortgage. Reasons for getting a second mortgage include debt consolidation, home improvements, for a mortgage deposit for another property such as a Buy to Let property or a holiday home.
It can be still possible to get a mortgage despite having bad credit issues in the past. Although, you should know that some lenders may require you to put down a larger deposit; this could be 10%-15%.
During the mortgage process, you will be asked to prove your income, who you are etc. Some of the documents that you’ll be asked to provide include bank statements, payslips, proof of ID and proof of address. This may be slightly different for the Self Employed.