How does the free initial mortgage consultation work?

Your free initial mortgage consultation in Essex will last roughly around one hour. Your mortgage advisor will then recommend a mortgage for you with no obligation for you to proceed and you are then able to decide whether or not you wish to go ahead with the mortgage.

How much deposit do I need for a right to buy mortgage?

The discount that the council provides will often be used as your deposit by lenders. Depending on the lender though, some will require you to put down a deposit in addition to the discount you are given. This is sometimes the case if you’ve credit struggles in the past. Our experienced and knowledgeable Mortgage advisors in Essex will be able to answer your right to buy deposit questions.

How does the mortgage process work?

As your mortgage broker in Essex, we will need to carry out a Fact Find to establish what your needs are, prior to us recommending the most suitable mortgage for you and your circumstances. A credit check will be required for an Agreement in Principle. Once you have provided all the relevant documentation and a valuation of the property has been undertaken, you will be able to receive a formal mortgage offer.

When should I obtain an Agreement in Principle?

To avoid the potential of having an offer rejected, we recommend you obtain an Agreement in Principle before viewing properties in Essex. We recommend that at the very latest, you should obtain one before you look at making an offer, as this can assist your bargaining position.

How long does an Agreement in Principle last?

Your Agreement in Principle will usually last for between 30 and 90 days, depending on the lender that you go with. If it happens to expire, your mortgage broker in Essex can easily refresh this.

Will I be able to get a second mortgage in Essex?

If you’re thinking about the future of your property, whether you’re looking at debt consolidation or home improvements, you may eligible for a second mortgage. This may also be a possible option if you’re wanting to use it for yourself, a family member, a holiday home or a Buy to Let.

I have previous credit problems Can I get a mortgage?

If you have had previous credit problems, the good news is you can still get a mortgage, though you may possibly have to put down a higher deposit than those with good credit, often around 15% of the property purchase price.

I’m Self Employed in Essex, can I get a mortgage?

Once you have put forward at least one year’s accounts, you will be able to get a mortgage. A vast amount of lenders will use your salary plus dividend to determine the maximum mortgage you are eligible for, whereas others may go off your net profit.

What documents will I need to send?

For an employee to prove their income, they’re usually required to provide three payslips, whilst for self-employed applicants they’ll need the latest 2 years’ accounts. You will also need to present the lender with proof of ID, address and the latest 3 months’ bank statements.

How long does our process take in Essex?

When you engage in a free mortgage consultation with one of our Mortgage Advisors in Essex, your discussion will take around one hour. Our team can usually produce an Agreement in Principle within 24 hours of your appointment and achieve a formal mortgage offer within three weeks.