We encounter loads of reasons why it may not be possible for a client to obtain a mortgage but here are just a few of the main ones that we encounter here at independent mortgage brokers.
1. Bank or building society won’t allow me or us to borrow what we need
2. Strict and onerous lending criteria
3. Employment types, i.e. contractors, professional, seasonal, temporary contracts, agency, zero-hour contracts, sole trader, limited company, partnership, employed, business owner
4. Building type i.e. non-standard construction, high rise flats, apartments, balcony access, new build, over commercial premises
5. Family member or landlord discounted purchase this is sometimes called concessionary purchase
6. Credit problems such as defaults, county court judgements, debt management plans, bankruptcies & repossessions in the past
7. Allowable income types i.e. salary, overtime, bonuses, shift allowances dividends, tax credits, benefits etc
8. You may not want to deal with an estate agency adviser as they may not have access to the same deals, we are able to get at independent mortgage brokers
9. Marital status, i.e. married buying in sole name, divorce, joint borrower sole proprietor
10. You may have other mortgages that need to be considered too
11. Time & effort waiting for an appointment at your bank or building society
12. Let to Buy – letting your existing home out, raising capital to purchase another property
13. The lender only allows you to deal via a third party, a non-direct mortgage deal
14. You may have more debt than the lender would like. This is sometimes called the debt to income ratio
15. You can’t wait you need to know now; you may lose the deal by not acting quickly
16. Removal of a partner or person from your current mortgage, this is sometimes called a transfer of mortgage property
17. There are lots of other reasons I’m sure, give independent mortgage brokers a call to discuss
Your specific circumstances may not be on the list above. We do believe that we have tailored solutions for most circumstances, if we don’t, we will formulate a plan for the future, at least you will know what needs to be doneand how you will be able to move forward and realise your dream of home ownership.
Having independent mortgage brokers help and guide you through the sometimes-daunting mortgage market will undoubtedly be beneficial if only to give you the peace of mind knowing you are on the path to successful home ownership.
Let independent mortgage brokers take the hassle and stress away from applying for your mortgage. Going from bank to bank trying to see if you are eligible could in fact cause more damage than you think. Having multiple credit searches may be a real problem as quite quickly your score will reduce. Take the guess work out of it and have one our independent mortgage brokers assist you in your search. Their knowledge and expertise built up over many years may in fact be the better option for you.
Being independent mortgage brokers allows us to deal with lots of different specialist lending partners, some of whom you may not ever have heard of. Just because you may not have heard of them doesn’t mean to say they are inferior or second best. Our team of independent mortgage brokers will recommend you the most appropriate lender for your needs and circumstances. They will match up your desire for home ownership to a lender that will allow you to realize your dream.
What do you need to do now?
- Let’s take a look at what could be available for you?
- Are you a first-time buyer?
- Are you looking to remortgage?
- Are you looking to get a mortgage promise / agreement in principle?
- Do you have credit problems?
- Do you need independent mortgage advice?
- Do you need help with help to buy?
- Do you need advice quickly?