Typically, our free consultation will last up to an hour or so. Our team can turn around an agreement in principle within 24 hours of speaking to an advisor. A formal mortgage offer can take around three weeks on average.
It’s typically three payslips for an employee to prove their income and the latest 2 years’ accounts for a Self Employed applicant. You will also need to provide the lender with proof of ID, address, and 3 months’ bank statements.
Once you have submitted a minimum one year’s accounts, you can get a mortgage. Most Lenders use your salary plus dividend to calculate the maximum mortgage, whereas some other lenders are known to go off your net profit.
Even if you have had credit problems, you may still be able to get a mortgage, though you may be required to put down a higher deposit than you otherwise would’ve, often 15% of the property purchase price.
You may find that it is possible to get a second mortgage on your home for things like debt consolidation or Home Improvements. If you are looking to take out a mortgage on a second property, either to use it for yourself, a family member, a holiday home, or a Buy to Let, this may also be possible.
An Agreement in Principle will usually last between 30 and 90 days, depending on the lender you go with. If your Agreement in Principle expires, you can always have it refreshed.
To avoid being disappointed if an offer falls through, we recommend that home buyers obtain an Agreement in Principle before you begin viewing properties in Bristol. At the very latest you should obtain an AIP prior to making an offer to assist your bargaining position with a seller.
As a trusted and hard-working mortgage broker in Bristol, we will carry out a Fact Find to establish your personal needs before we recommend the most suitable mortgage for your situation. A credit check will be required for an Agreement in Principle. Once you have given the lender all the relevant documentation and a valuation of the property has been completed, a formal mortgage offer can be issued.
Your free mortgage consultation with a trusted member of our mortgage advice team in Bristol will last around one hour. From there, your advisor will then recommend a mortgage for you with no obligation for you to proceed and you can decide whether you wish to take it or step back.
Lenders will often use the discount given to you by the council or local authority as your deposit. This isn’t always the case though, as some lenders, will still require you to put down a deposit in addition to this deduction. This may even be the case if you’ve been struggling with credit problems. A dedicated mortgage advisor in Bristol will do their best to answer your right to buy deposit questions.