FAQs Archive - Beverleymoneyman

How Much Deposit do I need for a Buy to let?

It can vary between 20%-40%. The minimum deposit for a Buy to Let mortgage tends to be around 25% of the property value. We have Specialist Buy to Let Mortgage Advisors in Beverley available to help with these types of enquiries, seven days a week.

Why Should I Bother to Remortgage?

If you are on your lenders SVR (Standard Variable Rate of Interest), you may find yourself in a better position to save money. As a Responsive Mortgage Broker in Beverley, we can compare the new products available against your current mortgage deal to determine what these savings may be. If you have equity in your property, a remortgage would also give you the option of releasing some of this money if you need it. Usually, people use this route for things like home improvements or remortgage for home office.

Can I Consolidate my Debts in Beverley?

You may be able to remortgage and increase your mortgage size to pay off any unsecured debts you may have accrued over time. We recommend rushing into this, though, as there are some downsides to this route. We highly suggest that customers always seek Mortgage Advice in Beverley before consolidating any debts they may have.

How Does the Free Remortgage Consultation Work in Beverley?

Your initial free remortgage consultation with our Responsive Mortgage Advisor in Beverley will last about 30 mins. We will then be able to compare a potential new deal against your current product, recommending the most appropriate one for your needs, with no obligation to proceed if you decide not to do so.

Are There Fees Involved in Remortgaging?

The fees involved in Remortgaging will be similar to those involved at the start of your existing mortgage. Your responsive Mortgage Advisor in Beverley will be able to run through all of the fees with you before making any decisions, able to consider these fees when comparing the savings of the new deal against the current mortgage you are on.

How Does the Free Initial Mortgage Consultation Work?

Your free mortgage consultation in Beverley will last approximately 30 mins. 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.

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UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk

The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
Should you have cause to complain and you are not satisfied with our response to your complaint, you may be able to refer it
to the Financial Ombudsman Service, which can be contacted as follows

The Financial Ombudsman Service, Exchange Tower, London, E14 9SR

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