Moving Home

Ready to make a move?

 

Whether you are relocating to a new area or just looking for a different type of property to suit your family needs, we can help you to move.

We’ll take the hassle out of finding a new mortgage and make things as seamless as possible for you – whatever your situation.

Here are some of the factors lenders take into account when making their decision…

Affordability
The mortgage provider will want to be certain that the borrower can afford to service the loan — i.e. to make the monthly repayments as and when they fall due. To help them make that decision, the lender will want to see the borrower’s personal financial incomings and outgoings. Any rent the borrower may be paying will be discounted, but the lender will factor in the potential cost of the monthly mortgage repayment. As a rule of thumb, an individual with average outgoings may qualify for a mortgage advance of approximately three to four times their annual income.
Deposit
The amount the borrower can contribute towards the cost of buying a property — the ‘deposit’ — is a major consideration. Because most mortgage loans are secured on the value of the property, mortgage providers prefer borrowers who can provide large deposits: the smaller the loan, the lower the lenders’ risk. And the larger the deposit, the lower the borrower’s monthly repayments will be, which reduces his or her outgoings and improves the affordability criteria from the lender’s point of view. In the current financial climate, most lenders expect borrowers to deposit at least 5% of the property’s purchase price.
Value
Mortgage providers lend against the value of the property, not the agreed purchase price. To avoid lending more than is absolutely necessary (and therefore increasing their financial risk) most mortgage providers will insist on having the property in question valued by a qualified surveyor.
Property Type
Some lenders will not consider mortgaging certain types of properties. Leasehold properties, properties below a certain price, property being purchased through an assisted purchase scheme or under a Right to Buy scheme, or where property is being purchased ‘off plan’, may not be acceptable to the mortgage provider.
Time Frame
Mortgage providers generally have a maximum number of years over which they lend and will set a date when the mortgage must be repaid in full.

Why use a whole of market mortgage advisor?

Prioritising You
We are whole of market so will only recommend mortgages that are most relevant to your requirements and we must be qualified to give mortgage advice to you.

More Options
We have access to more mortgages than available directly to you as a consumer.

Personalised For You
We match lenders to your situation, taking into consideration the wider mortgage needs.

Stress-Free
We remove a lot of the paperwork and hassle of getting a mortgage. Making the process stress-free.