Q: I don’t know much about mortgages, how does it all work?
A: We have provided an overview of the mortgage process which you can find on our mortgage page.
Q: How long does a mortgage application take?
A: If you are refinancing a property you own, the average timescale from full application to completion is usually 4-6 weeks. For purchase applications, the average timescale is usually 8-12 weeks.
Please note, these timescales are indicative only and not guaranteed as the length of time to complete your purchase or remortgage will depend on a number of factors.
Q: What does Loan-to-Value mean?
A: Loan-to-Value is the amount you owe on your mortgage compared to the property’s full market value expressed as a percentage. The Loan-to-Value will be a consideration which determines the interest rate offered by your mortgage lender.
For example, if your property is valued at £200,000 and your mortgage has a balance of £150,000, the Loan-to Value would be 75%.
Q: I need to reduce my monthly outgoings, can you help?
A: Absolutely, as your mortgage can be your largest commitment, it is important to regularly review your options as a decrease in interest rates could save you £££’s.
Q: I’ve been to my bank but they won’t give me a mortgage, can you help?
A: Yes, not all lenders or banks are the same. The same goes for their mortgage eligibility and affordability. If you have been turned down by your bank, get in contact with us to review all of your mortgage options. We will confirm the maximum amount you can borrow plus the interest rate which you will be eligible for.
Q: What types of appointments do you offer?
A: We offer appointments via Telephone or Video Call. Face to face appointments are available within Dorset.
Q: What documents will I need to supply?
A: The main documents required are Identification, (Passport/ Driving Licence), 3 months’ bank statements plus your latest 3 months’ payslips if employed or latest 3 year’s Tax Calculations and corresponding Tax Year Overviews if self-employed.
Q: Do I need to be ready to proceed before I get in touch?
A: No, you can contact us whatever stage you are currently at. We are more than happy to help clients regardless of their current circumstances and weather or not they are ready to proceed.