Mortgage Broker in Cambridge
Mortgage Advice in Cambridge

Fact Find: You will provide information about your personal and financial situation to the lender, which will be used to determine your qualifications for a mortgage.

Consultation: Your dedicated mortgage advisor in Cambridge will schedule a free consultation with you to discuss your needs and goals, and help you find a mortgage deal tailored to you.

Credit Check: After the consultation, the lender will conduct a credit check to verify your creditworthiness and help you obtain an Agreement in Principle.

Evidential documentation: If you are happy to proceed, some additional documentation will be asked to strengthen your application, such as pay stubs, tax returns, or proof of income.

Mortgage application submission: With your Agreement in Principle, evidential documentation, and a comprehensive mortgage offer that you are satisfied with, you can submit your mortgage application.

The duration of an AIP can vary depending on the lender, but most AIPs are valid for a period of around 60-90 days. This means that if you do not complete your mortgage application within this time frame, you will need to reapply for an AIP and provide updated information, which one of our mortgage advisors in Cambridge can do for you. However, some lenders may offer an AIP for a shorter period of time, such as 30 days or less. It is best to check with the lender for the specific timeframe.

Yes, you can get a second mortgage in Cambridge. It's important to note that getting a second mortgage is a big financial decision and it can be risky. It's important to consider all the options and speak with a mortgage advisor in Cambridge before making any decision.

Additionally, you'll need to meet certain qualifications and requirements set by the lender, and the interest rate on a second mortgage is usually higher than on a primary mortgage.

It may be more difficult to get a mortgage in Cambridge with previous credit problems, but it is not impossible. Lenders look at credit history and credit scores as an indicator of an applicant's ability to repay the mortgage, so if you have a history of late payments, defaulted loans, or bankruptcies, it may be harder to get approved for a mortgage.

However, some lenders may still be willing to consider your application if you can demonstrate that the credit issues were caused by circumstances beyond your control, and that you have taken steps to improve your credit since then.

It is important to work with a mortgage broker in Cambridge as we have expert mortgage advisors in Cambridge who have experience in helping people with credit problems to find the best option for you.

Yes, self-employed individuals can get a mortgage in Cambridge. However, the process for self-employed individuals may be slightly different compared to those who are employed by a company and receive regular paychecks.

Self-employed individuals may have to provide additional documentation, such as tax returns and profit and loss statements, to demonstrate their income. Lenders may also require self-employed applicants to show a longer track record of self-employment, typically 2-3 years.

It is best to speak with a mortgage broker in Cambridge who have experience in dealing with self employed mortgages, as we can guide you through the process and help you find a lender who is willing to consider your application.

When applying for a mortgage or remortgage, lenders will require certain documents to support your application. These may include identification, bank statements, and pay slips. If you are unsure about what documents are needed, your mortgage advisor in Cambridge will guide you through the process to ensure all necessary documents are provided.

During your free mortgage consultation in Cambridge, we will spend approximately one hour reviewing your personal and financial situation in detail. After the consultation, we will aim to provide you with an Agreement in Principle within 24 hours.

Having an Agreement in Principle is important when making an offer on a property, as it indicates to estate agents and sellers that you have a pre-approval for a mortgage. The final step is submitting your mortgage application and waiting for a formal mortgage offer, which typically takes 2-4 weeks if the process goes smoothly and your application is relatively straightforward.

During a free mortgage consultation with one of our mortgage advisors in Cambridge, a thorough assessment of your personal, financial, and mortgage situation will be conducted. This information is crucial in order to gain a comprehensive understanding of your mortgage needs.

With this information, your mortgage advisor in Cambridge will be able to find the most suitable mortgage options for you, tailoring the search to match your unique circumstances. By working with a mortgage advisor in Cambridge, you will be able to save time and money as they will take on the task of searching for mortgage products on your behalf.

It's generally a good idea to obtain an agreement in principle before you start actively looking for a property, as it can help you narrow down your search to properties that you can realistically afford. It can also be helpful to have one in place when you make an offer on a property, as it can demonstrate to the seller that you are a serious and financially stable buyer.

The amount of deposit you will need for a mortgage in Cambridge will depend on a variety of factors, including the type of mortgage you are applying for, your credit score, and the lender's requirements. Typically, lenders require a deposit of at least 5% of the property's purchase price, however, it's not uncommon for some lenders to require a deposit of 10-20% or more.

If you are looking to purchase a property with a higher value, it will be necessary to have a higher deposit. It's also worth noting that the higher the deposit you can put down, the better the mortgage rate you will be able to secure.

It's important to note that the deposit is not the only cost associated with buying a property, there are other costs such as stamp duty, legal fees, survey fees and removal cost that you will need to budget for.

It's recommended to consult with a mortgage broker in Cambridge to determine what deposit is required and what mortgage options are available to you based on your individual financial situation.