I have bad credit, can I get a mortgage in Birkenhead?

While it may be difficult to secure a mortgage with a low credit score, there are mortgage lenders that offer products specifically designed for individuals in this situation.

It’s essential to note that such products often require a higher deposit than standard mortgages, usually ranging from 10% to 15% of the property’s value.

If you need help securing a mortgage in Birkenhead despite having poor credit, our team is here to provide the necessary help.

Can I get a second mortgage in Birkenhead?

As a mortgage broker based in Birkenhead, we have built a reputation for assisting numerous clients in obtaining second or multiple mortgages for various purposes, such as buy to lets, let to buys, holiday lets, and more.

Securing an additional mortgage typically requires a sizable deposit, a robust credit score, and the financial ability to make two substantial monthly mortgage payments. However, for buy to let or let to buy mortgages in Birkenhead, having a tenant may cover the second payment.

To evaluate your eligibility and ensure a smooth application process, we highly recommend seeking guidance from a mortgage advisor in Birkenhead before applying for another mortgage.

Why use a mortgage broker in Birkenhead like us?

Our mission as a mortgage broker in Birkenhead is to provide complete support and guidance throughout the mortgage journey. Our objective is not only to secure any mortgage deal, but to find a product that fits your unique financial and personal circumstances.

Moreover, we will assist you in preparing your mortgage application to make a positive impression on your lender. We ensure that all required documents are in order to verify your income and affordability, which will increase your chances of obtaining mortgage approval.

How does my free mortgage appointment in Birkenhead work?

When you book a free mortgage consultation with us, you should expect to spend about 30 minutes to an hour discussing your situation with one of our expert mortgage advisors in Birkenhead.

During the consultation, your dedicated advisor will ask about your financial and personal circumstances to gain a comprehensive understanding of your mortgage objectives. This helps us to identify the most suitable mortgage options that meet your specific requirements.

Following your consultation, your mortgage advisor in Birkenhead will review your information and conduct a thorough search to find the perfect mortgage product that aligns with your individual needs.

When should I get an agreement in principle in Birkenhead?

An Agreement in Principle (AIP) is a document that indicates a lender’s readiness to offer you a mortgage based on your income and affordability evidence.

In the mortgage application process, obtaining an AIP is highly significant. It enables you to make an offer on a property and may assist you in negotiating the purchase price with the seller.

For instance, if two potential buyers approach a seller, one with an AIP and the other without, the seller is more likely to choose the buyer with the AIP. This is because the buyer with the AIP has already received pre-approval and can proceed more quickly through the mortgage process.

Typically, AIPs are valid for 30-90 days and can be renewed upon expiration. To obtain an AIP, you can seek assistance from a mortgage broker in Birkenhead, like ourselves. We can generally arrange an AIP within 24 hours of your mortgage appointment.

How much deposit do I need for a mortgage in Birkenhead?

When looking for a mortgage in Birkenhead, it’s crucial to bear in mind that the majority of lenders will require a minimum deposit of 5% of the property’s value.

Nevertheless, depending on your credit score, you may need to provide a more significant deposit, ranging from 10% to 15% or even more. If you would like to determine the amount you can borrow for a mortgage in Birkenhead, don’t hesitate to reach out to our team today.