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How Does the Free Initial Mortgage Consultation Work?

Your free mortgage consultation in Beverley will last approximately one hour. We will then recommend a mortgage for you with no obligation for you to proceed, and you can decide whether or not you wish to go ahead.

How Does the Mortgage Process Work?

As your Mortgage Broker in Beverley, we carry out a Fact Find to establish your personal needs before recommending the most suitable mortgage for you. A credit check is then required for an agreement in principle. Once you have provided all the relevant documentation and a property valuation has been undertaken, a formal mortgage offer can be issued.

When Should I Obtain an Agreement in Principle?

We advise you to obtain an Agreement in Principle before property viewings in Beverley to avoid potential disappointment. At the very latest, we would suggest that you get one before you make any offers to put you in a better bargaining position. As a responsive Mortgage Broker in Beverley, we can typically obtain an agreement in principle within 24 hours.

How Long Does an Agreement in Principle Last For?

An Agreement in Principle will last for between 30 and 90 days, depending on the lender. If your Agreement in Principle expires before you can use it. Don’t worry; speak to your advisor, they can make it valid again.

Can I Get a Second Mortgage in Beverley?

Depending on your circumstances, if you’re looking to achieve something like debt consolidation or home improvements, then you may be able to take out a second mortgage on your property. If you’re looking to use it for yourself, a family member, a holiday home or a Buy to Let, a second mortgage on that property may also be an option.

Can I get a Mortgage in Beverley With Previous Credit Problems?

If you have struggled with credit problems in the past, you may still be eligible for a mortgage, though a lender may require you to put down a higher deposit than expected.

I’m Self Employed in Beverley, Can I get a Mortgage?

Once you have submitted at least one year’s accounts moves you along the process, allowing you to obtain a mortgage in Beverley potentially. Most lenders will utilise your salary plus dividend to calculate the maximum mortgage amount you are eligible to borrow, whereas some other lenders will go off your net profit.

What Documents Will I Need to Send?

For an employee to prove their income, it’s usually three payslips and the last two years’ accounts if you are self-employed. You will also need to provide proof of ID, address and the previous three months’ bank statements.

How Long Does the Process Take?

Generally speaking, our free mortgage consultation lasts around an hour or so. Additionally, we can turn around an agreement in Principle within 24 hours. But it takes three weeks on average for a formal mortgage offer to approve.

How Much Deposit do I need for Help to Buy Property in Beverley?

You will need to have at least a 5% deposit for a new build property in Beverley. The Government will then loan you up to 20% of the value of that property, making your deposit 25%.

UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited registered in England, registered number 6789312 and registered office 10 Consort Court, Hull, HU9 1PU.

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