|
Borrow for mortgage - We can help you
When lenders decide how much you can borrow for a mortgage the main things they take into consideration is your income, credit history, your employment and the property value. If it is a joint application they will look at your partner’s situation as well.
Can you afford the loan you’re being offered?
It’s important to give your lender as much detail as you can about your income and outgoings – so that you’re not offered a mortgage you can’t afford.
Ask for a ‘Keyfacts illustration’ and use it to shop around before making a final decision. It will confirm (amongst other things) the type and amount of mortgage, your monthly payments, fees for early repayment and the effect of a rise in interest rates. You can ask any lender to supply this, and they must give you one before you take out a loan.
Finally, remember to budget for the one-off costs of buying a property – such as administration and solicitor fees and Stamp Duty.
The type of property
Some lenders limit the amount they’ll lend on certain types of property, for example timber-framed houses. Sometimes they’ll refuse to lend at all – perhaps because the property’s very old, unconventionally built or structurally unsound. But if you shop around, you should usually be able to find a lender who understands the risks involved in the kind of property you want to buy.
Borrow for mortgage refinancing / remortgage
A remortgage is the same as a mortgage except you are not buying a new house you are simply taking out a new mortgage to pay off your existing mortgage. Remortgaging can be used for a number of reasons; if you have mortgage arrears or bad debt a remortgage can release some of the equity in your property to pay off debts and in some cases you can actually borrow extra money to get your finances in order.
Different lenders will have different procedures and rules when deciding what you can borrow for mortgage refinancing i.e. a remortgage. Regency’s friendly staff will be able to guide you through the process,
click here to make your no-obligation enquiry.
By remortgaging your house, you could reduce monthly repayments; release a cash lump sum to help pay off existing debt or to treat yourself and your family to something you’ve been promising yourself for a long time.
Remortgaging has become more and more popular as people realise they can switch to different types of mortgages to suit individual circumstances and also receive more competitive deals, possibly saving thousands of pounds in the process.
Regency is a specialist broker with access to most mortgage products from a panel of lenders. Our expert mortgage advisors can take you through the different products available highlighting the benefits and pitfalls when you borrow for mortgage refinance, click here for further information on mortgage refinancing.
We offer friendly, expert advice. Let us help you, make an enquiry today, there is no-obligation, click here now, or if you prefer you can call us on FREEPHONE 0800 652 3030 and let us guide you through the whole process.
Borrow for mortgage arrears, debt consolidation, or extra cash
Whether you want to remortgage because of a change of circumstances, to remove an ex-partner from the mortgage, fund kids for university, for home improvements, to pay of credit cards, or consolidate existing debts Regency can point you in the right direction.
We specialise in helping people with a poor credit history, mortgage arrears, CCJs, IVAs, or people who have difficultly in proving income.
We offer friendly, expert advice for people looking to borrow for mortgage refinancing. Let us help you, make an enquiry today, there is no-obligation, click here now, or if you prefer you can call us on FREEPHONE 0800 652 3030 and let us guide you through the whole process.
The overall cost for comparison is 9% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration. An completion fee of 5% of the mortgage/loan advance is payable only on completion. You may have the option of adding this to the mortgage advance. The surveyor's fee is to be paid direct by you prior to the formal property valuation. Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
For training and compliance purposes telephone calls may be monitored and recorded.
As a specialist and UK market leader in arranging mortgages for Right to Buy customers, we aim to find the most suitable mortgage available to you from our panel of lenders.
Authorised and regulated by the Financial Services Authority.
|
|
