For many mortgage applicants, the process is, for the most part, straightforward. Their only gripe may be that it can be lengthy. That being said, there are a lot of customers out there who are faced with very difficult situations that leave the process a little more complex to navigate.
It’s never easy to see customers struggling to obtain a mortgage, which is why we go that extra mile to guide you and help you achieve mortgage success. Speak with a trusted mortgage broker in Cambridge and we will do everything we can to help you.
Here at Cambridgemoneyman, our trusted Specialist Mortgage Advisors in Cambridge are able to access 1000s of unique and niche mortgage products, thanks to our extensive panel of standard and specialist mortgage lenders. It’s the job of our dedicated mortgage advice team to search through these, to find the best one that matches your circumstances.
If the bank has declined you at any point by the bank, it is important that you refrain from applying for lots of different mortgage deals, either with that bank or another lender. Whether you are informed of such or not, if you have been declined, there will be a reason for it.
Your mortgage advisor in Cambridge may be able to identify why you were declined, though in some cases this may not be possible. In any case, your mortgage advisor will take a look through thousands of mortgage deals, in order to match you up with an appropriate deal for your circumstances. We always aim to get this right first time!
Failing to make payments on financial obligations can harm your credit rating, especially if it's a persistent problem. The extent of the damage to your credit score depends on the types and number of missed payments. In Cambridge, a poor credit score can make it challenging to secure loans or borrow money in the future.
If a County Court Judgment (CCJ) has been issued against you, it will stay on your credit file for 6 years, even if you pay the debt after the 30-day window given by the court. To avoid having a permanent record on your credit file, it's crucial to repay the amount owed within the 30-day period. If paid after the window, the CCJ will be marked as "settled" but will still be visible on your file for 6 years.
Homeowners in Cambridge can opt to refinance their property to access the equity they've built in their home. This can provide them with funds for various purposes such as home renovations or helping a family member buy a home.
For those facing financial difficulties, debt consolidation through refinancing in Cambridge may be a solution. This involves using the equity in their home to merge multiple debts into one manageable monthly payment. However, it's important to keep in mind that this can be a risky move and should be thoughtfully considered before proceeding.
You should think carefully before securing other debts against your home. By adding your unsecured debt to your mortgage, which is secured on your home, you may endanger your home if you can't make the necessary repayments. Although the total monthly cost of servicing your debt may have been reduced, the total repayment cost may still have increased because the duration of your mortgage is longer than it may have taken to repay the original debts.
At Cambridgemoneyman, our knowledgeable mortgage advisors in Cambridge are equipped with access to a diverse range of specialized mortgage options from various lenders. The lending requirements of each lender vary, and our advisors can help you find the best match for your individual and financial circumstances.
If you have worries about your credit score, we suggest getting an updated credit report before your initial mortgage consultation, which is free of charge. This will allow us to gain a deeper insight into your situation and help you attain your mortgage objectives.
Our Customers Love Us
5.00 Rating3 Reviews
Very responsive even in late evenings! Answered all of the questions that I had, explained the whole process through out and made the house buying process so much easier!
6 months ago
Great service, very efficient.
9 months ago
Helen was lovely to chat with, she booked me in for an appointment with a broker within minutes of me sending an email enquiry on a Sunday and explained everything about the process really well.
8 months ago
Great service. Would definitely recommend to people struggling to get a mortgage. Cambridgemoneyman, a huge thank you from us
2 years ago
Spoke to several Mortgage Brokers about my situation and having talked to Malcolm, he fully understood my views and gave me his honest opinion. A very professional, friendly, and efficient service that enabled us to the best mortgage on the market.
2 years ago
Massive thank you to Malcolm and the team at Cambridgemoneyman. We were very impressed with the level of service we received. As first time buyers, we were thrilled with the mortgage rate that got recommended for our circumstances, and we will...
2 years ago
During your free mortgage appointment in Cambridge, you'll meet with one of our expert advisors who will ask about your income and expenses to help determine your maximum budget. To schedule your appointment, simply answer a few questions online.
After your free mortgage consultation with one of our advisors in Cambridge, they will work to find a mortgage product that meets your specific needs and financial situation. If you decide to proceed with this option, the next step is to start preparing your mortgage application.
After you have gathered all the necessary supporting documents for your income, affordability, etc., it's time to submit your mortgage application. Our team will then send it to the lender for processing.
You will be assigned a dedicated case manager who will keep you informed throughout the entire process and provide updates as needed.
At Cambridgemoneyman, we not only find the best mortgage deals for our customers, but we also offer personalised insurance recommendations to protect you and your loved ones. Furthermore, we will communicate with you before your mortgage renewal to guarantee that you are always getting the best available option.
Your free mortgage appointment awaits with a dedicated mortgage advisor in Cambridge. 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 every day of the week, including weekends and some bank holidays. This means you can book yourself in any time you would like, putting your daily life first, and speaking to a mortgage advisor in Cambridge at a time that is convenient to you.
We have been hard at work within the mortgage industry now for over two decades, doing our best to help customers in any situation they are dealing with. Every one of our dedicated and trusted mortgage advisors in Cambridge is fully qualified and trained to find you the best deal they possibly can for your case circumstances.
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.
Our team of mortgage advisors in Cambridge will be readily available to answer any mortgage queries you have, each day of the working week and even on weekends.
We do not judge on the question asked, so don’t worry if you feel like you shouldn’t ask your question; You should, everyone needs to start somewhere! We’re here to educate you and guide you throughout your mortgage process.
We have a vast catalogue of mortgage lenders featuring both high street and specialist companies with unique mortgage deals on offer. Each of these lenders have their own deals, some of which cannot be obtained going directly, instead being mortgage broker exclusive.
It is our job to sift through the pile, finding you the perfect deal for your circumstances, based on the information you have given us about your case and what you are looking to achieve. As a trusted mortgage broker in Cambridge, we will always put you first.
Customer service is at the heart of everything we do as a mortgage broker in Cambridge. We aim to go above and beyond for our customers, making sure that the service they receive is top level. Our amazing customer reviews are a fantastic representation of the work we put in to make sure our customers achieve mortgage success.
When you come across a particularly difficult mortgage obstacle, you may find it a tricky task alone to match up to any mortgage lender criteria. It’s at this point where you should consider getting mortgage advisor in Cambridge. We will be able to take a look at your case, working together step by step to find a mortgage solution for you.
Complex scenarios are a common scenario for us here at Cambridgemoneyman, so whilst everyone’s situation is unique to them, it is likely that we have come across something very similar in the past. We will use the knowledge we have gathered from these instances, to better advise you during your process.
When it comes to making an offer on a property, in some cases you may end up with what you personally feel is a good deal, even if it is above the asking price. Unfortunately, after you have had a property survey carried out, you may discover that the property is worth less than the offer you had made.
This type of practice is called a property down valuation. In this instance, your lender is very unlikely to lend you the full amount, as they would be lending you more than the property could actually resell for in the event of repossession. Sometimes, the lender will pull out of the deal altogether.
If you are able to make up the shortfall, either by utilising your savings or coming to an agreement between yourself and the seller, you may be in with a chance of continuing your process with the lender in question. This isn’t always a guaranteed outcome, however, and they may still pull out anyway.
If, for some unfortunate reason, you end up divorced or separated, it can be quite a challenge sorting out any joint finances you have, especially your mortgage. It’s very important that this is sorted out sooner rather than later, to avoid any additional difficulties.
Whether you want your name removed, or your partners name removed from the mortgage, you will need to speak with a specialist mortgage advisor in Cambridge in order to proceed.
Following on from a divorce or separation, it’s very likely that one of you will be wanting the others name off the original mortgage.
Names can only be removed from a mortgage, if either party can financially cope without the assistance of another. What this means, is that if you wanted your ex’s name removed from your mortgage, but you cannot afford to do so alone, the lender may decline to remove your ex from the mortgage. Speaking to a specialist mortgage advisor in Cambridge will give you more insight into this scenario.
You will find that it is possible to obtain a mortgage on a property with a sole name if you are married, though the majority of lenders would much prefer that a joint mortgage be taken out if possible. This is due to the security for the lender, as two incomes is better than one.
Whilst applying for a mortgage in a joint name would make the likelihood of being accepted much easier, it is not completely impossible and there are still lenders who are willing to work with sole name married applicants.
The Shared Ownership Scheme will allow mortgage applicants who are struggling to afford the full property price, to purchase a share in a property, paying back the remaining percentage to a local authority in monthly rental payments.
Generally speaking, you will have to purchase somewhere between 25-75%, though depending on the lender and the circumstances, you may be able to purchase lower than this amount. If you come into more income further into your mortgage term, you may have the option to increase your shares by purchasing them from the local authority who owns them.
Professional mortgages are restricted to only being used by specific professions across the country. This is a hyper specialist area of the mortgage world and would require speaking with a mortgage expert before proceeding.
If you are considering buying an additional property and require a mortgage in order to cover the costs of that purchase, you will need to show a mortgage lender that you have the ability of affording multiple monthly mortgage payments consecutively.
This needs to be proven via evidential documents, such as your bank statements, P60 and payslips. If you’re self-employed, you will need your self-assessment, tax calculations and tax overview to prove this. A trusted member of our mortgage advice team will be able to help make sure that you are prepared for this.
Holiday let mortgages function in a way that is similar to Buy to Let mortgages. The difference between the two though, is that a holiday home will not generate a consistent income with long term tenants. Instead, you will be taking on multiple short term tenancies as a source of income from your properties.
During off-peak holiday times, you may see that you are unable to maintain much income at all from this property. Because of this, the lender will need to have complete confidence in your ability to maintain your monthly mortgage payments, even when there are no tenants living in the property.
New builds can often be quite costly investments, especially because the demand for these types of properties has increased over the years!
If you are finding it difficult to save up the deposit to buy a home, there is a varied selection of government schemes to choose from, each serving the purpose of helping first time buyers secure a new build property. Some of the schemes available include the Help to Buy Equity Loan Scheme, a Lifetime ISA or the Shared Ownership Scheme, to name but a few.
A ‘non-standard’ property would be defined as a property that has not been conventionally built, i.e., with bricks or mortar.
If you have any plans to take out a mortgage on a property that is considered ‘non-standard’, then you will need to look at finding a specialist deal. We would also highly suggest paying a little bit more in order to get a full structural property survey carried out on the property in question, as this will identify any faults.
HMO’s are another variation of a Buy to Let property. Having a HMO property allows you to have between 4-6 tenants in a property, similar to what you would see with student housing.
Before you obtain a HMO mortgage, you may have to speak to your local council, so that you can obtain a HMO license. This will only apply if there are 5 or more unrelated applicants living inside the property or if you have 2 or more separate households living under one roof.
We would recommend that you look at obtaining specialist Buy to Let Mortgage Advice in Cambridge if you are considering taking out a HMO mortgages.
A Lifetime Mortgage will give you the option to release equity from your home as a means of creating a lump sum of cash. This type of mortgage is only accessible to those over the age of 55.
We would strongly recommend that you get in touch with a mortgage specialist before making any hasty decisions with equity release, as this can be complex to navigate if you’re not too sure what you’re doing.
Offset mortgages allow customers to utilise a savings account alongside your mortgage. These can be super helpful in obtaining competitive interest rates and mortgage products.