Mortgages

Getting a mortgage has become more difficult in recent years.
As a result, the average age of the first-time buyer has risen to 37 – their parents would have been around ten years younger when they got on the property ladder.

The days of 100% mortgages and self-certification are over, with lenders are taking fewer risks and being fussier about who they lend to. Lending criteria are tighter and the amount of admin involved has increased considerably.

The application procedure can be daunting and potential borrowers often waste their time making several unsuccessful applications.

We can help simplify the process for you and make sure that you’re thoroughly prepared before applying for a mortgage.

How we can help

  1. We will start by looking at your income and outgoings to see what you can realistically afford. We’ll ask for details of your employee benefit, bank statements, pay slips and P60 to help us work this out.
  2. We recommend that you get copies of your credit reports from credit reference agencies. By looking at these first you have the chance to amend any incorrect information before a lender examines them.
  3. Then we’ll compare tracker, fixed rate and discount rate mortgages and consider whether a repayment or interest-only mortgage will suit you best.
  4. After comparing a number of lenders we’ll recommend one and explain why; then we’ll aim to get agreement in principle. This way, you’ll know where you stand before you make an offer on your dream home.

Simpsons have helped many people get on the property ladder – if you’d like to be one of them please contact us for more information.

Your home may be repossessed if you do not keep up repayments on your mortgage.

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