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How much deposit do I need for a mortgage in Chelmsford?

Most High Street Lenders will require your to put down a minimum of a 5% deposit. Depending on the property, your credit file and your credit in the past, you may have to put down a deposit greater than 5%.

How Does the Free Mortgage Consultation Work?

Once assigned to one of our Mortgage Advisors in Chelmsford, you will undergo a one hour <strong>Free</strong> mortgage consultation. Here your Advisor will learn a little more about your situation and what type of mortgage that you are looking for. Your Mortgage Advisor in Chelmsford will then go away and try and find you a perfect mortgage deal that best suits your personal and financial situation.

What is an Agreement in Principle and Why Do I Need One?

An Agreement in Principle (AIP) is written evidence that a lender is willing to let your borrow from them for a mortgage. You’ll need to provide your AIP when making an offer on a property so the estate agents have proof that you will have the funds in place to purchase the property.

 

In some cases, you will even need an AIP to view properties in Chelmsford, so make sure that you get mortgage ready and get one arranged.

How Long Will My Agreement in Principle Last?

Your Agreement in Principle will typically last between 30 and 90 days; this timeframe can change depending on your lender in Chelmsford. If your AIP expires, you can quickly get it renewed.

How Will My Mortgage Process Work in Chelmsford?

As your Mortgage Broker in Chelmsford, we aim to provide a smooth, easy-going mortgage process. Starting with carrying out a Fact Find, here we will get to learn a bit more about you and your personal and financial situation. Once we have what we need from you, we can then start searching for mortgage deals that are most suitable for you.

 

Once your dedicated Mortgage Advisor in Chelmsford has recommended a product to you that you are happy to proceed with, and you have passed all of the credit checks with an in-date AIP, we can get the ball rolling and put forward your mortgage application.

What Documents Do I Need to Support My Application in Chelmsford?

<ul>
<li>Photographic Identification (Driving license, Passport, etc.).</li>
<li>Proof of Address (Utility bills, tax bills, credit card statements, etc.).</li>
<li>Latest 3 months’ payslips & Latest P60 (employed applicants)</li>
<li>Latest 2 years’ tax calculations and corresponding overviews (self-employed applicants)</li>
<li>3 months’ bank statement showing the build-up of the deposit funds together with an explanation for any large credits.</li>
</ul>

I’m Self Employed in Chelmsford, Can We Help?

We have helped thousands of Self Employed mortgage applicants in Chelmsford in the past. To aid your application, you will need to prove one year’s accounts and provide other bits of information, such as net profit. The majority of lenders will also take your salary plus dividend to calculate your maximum mortgage amount.

I’ve Been Declined By My Bank, Can You Help?

Lots of our customers come to us after being declined by their bank, and more often than not, we are able to help them. Of course, a mortgage is never guaranteed, therefore you still need to pass lenders’ credit scoring systems and match their criteria.

 

As a transparent Mortgage Broker in Chelmsford, we will be completely open and honest with you and only recommend the products that you and your personal and financial circumstances will be able to match with.

Can I Get Two Mortgages in Chelmsford?

Whether it’s through the means of Buy to Let, breakdown of a relationship, or something else, it’s completely possible to get two mortgages in Chelmsford. As a reputable Mortgage Broker in Chelmsford, we’ve helped hundreds of clients secure a second mortgage deal.

 

When applying for a second mortgage, during your application, your current mortgage payments will be taken into account to see whether or not you’ll be able to afford both sets of payments.

Essexmoneyman.com & Essexemoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
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.


Essexmoneyman, Elizabeth House, 28 Baddow Road, Chelmsford, Essex, CM2 0DG.

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