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How long does the process take?

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.

What documents will I need to send?

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.

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

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.

Can I get a mortgage with previous credit problems?

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.

How much deposit do I need?

The minimum deposit for buying a house in Bristol with High Street Lenders is around 5%. This can be higher if you have had previous credit problems.

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

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.

How long does an Agreement in Principle last?

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.

When should I obtain an Agreement in Principle?

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.

How does the mortgage process work?

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.

How does the free initial mortgage consultation work?

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.

Bristolmoneyman.com & Bristolmoneyman 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.

© 2021 Bristolmoneyman

Bristolmoneyman, St. Brandon's House, 29 Great George St, Bristol, BS1 5QT.

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