The best thing about our job as a Mortgage Broker in Cambridge is helping our clients navigate through the often stressful experience of buying a home or remortgaging. It can be a complicated process and our clients love having someone on their side from start to finish to ensure they get the right advice.
We do pride ourselves on providing a highly responsive service, communication is everything in this job. We work from a large panel of well-known high street banks and building Societies to ensure our clients get the best deal available to them but we also work with smaller, more specialist Lenders too for when we come across clients who don’t “tick all the boxes”.
Your initial mortgage consultation will usually take around an hour. A Mortgage Advisor in Cambridge will then do some research and recommend a potential mortgage for you, which you can then choose to proceed with or decline – There is not any obligation!
As your dedicated Mortgage Broker in Cambridge, we will gather some information about you and your personal circumstances by carrying out a Fact Find. The next step would be looking to obtain an Agreement in Principle which can be granted after a credit check. Once your Mortgage Advisor in Cambridge has gathered all the appropriate information, and a valuation of the property has been undertaken, a formal mortgage offer can then be issued.
To avoid possible disappointment, we recommend you obtain an Agreement in Principle before you begin viewing properties in Cambridge. At the very latest you should obtain one prior to making an offer to assist your bargaining position.
An Agreement in Principle typically lasts around 30 to 90 days depending on the Lender you have gone with. If your Agreement in Principle expires, you can always get another one.
If you are interested in things such as debt consolidation or home improvements, then you may be eligible for a second mortgage. Second mortgages may also be relevant if you are hoping to use it for yourself, a family member, a holiday home, or a Buy to Let mortgage.
When buying a house in Cambridge, the deposit required with High Street Lenders is typically 5%. Depending on your past credit history, this percentage could be higher.
If you have a poor credit history you may still be able to obtain a mortgage, but this will often require a higher deposit than you would normally need, sometimes around 15% of the property purchase price.
You are able to progress with a possible mortgage whilst Self Employed in Cambridge once you have submitted at least one years’ account. Most lenders use your salary plus dividend to calculate what your maximum mortgage, could be. Other lenders may opt to go off your net profit.
For an employee to prove income you would need the last 3 payslips and if you are Self Employed you will need the last 2 years of accounts. You will also need to provide us with proof of ID, address, and 3 months’ bank statements.
Our free consultations in Cambridge normally take around 1 hour. A Mortgage Agreement in Principle can usually be sorted within 24 hours of the appointment. A formal mortgage offer takes about three weeks on average, depending on the situation.
Our Managing Director Malcolm founded the company with his wife Amy in 2009. He still loves seeing customers to this day and he eats, sleeps and breathes Mortgages!
His real passion is to help customers get the best mortgage deal available to them and guiding First Time Buyers safely through the daunting process of getting onto the property ladder.
His most embarrassing moment came some years ago when he accidentally got locked in a customer's bathroom - don't ask!