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

It’s important to keep in mind that when looking for a mortgage in Runcorn, most lenders usually require a minimum deposit of 5% of the property’s value.

However, depending on your credit score, you may need to provide a larger deposit, ranging from 10% to 15% or even higher. If you want to determine how much you can borrow for a mortgage in Runcorn, don’t hesitate to get in touch with our team today.

Why use a mortgage broker in Runcorn like us?

As a mortgage broker in Runcorn, we provide support, guidance and advice throughout the entire mortgage process. Our goal is not just to secure any mortgage deal but to locate a product that suits your unique financial and personal situation.

Additionally, we will help you prepare your mortgage application to make a favourable impression on your lender. We will ensure that all necessary documents are in place to verify your income and affordability, increasing your chances of getting approved for a mortgage.

How does my free mortgage appointment in Runcorn work?

Your free mortgage appointment will last around 30 minutes to an hour, and you will get the opportunity to speak with one of our mortgage advisors in Runcorn.

During your consultation, your dedicated mortgage advisor in Runcorn will ask about your financial and personal situation to gain a complete understanding of your mortgage objectives. This enables us to identify the most suitable mortgage options that meet your unique needs.

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

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

Getting a mortgage in Runcorn with a low credit score will be difficult, however, some lenders offer products designed specifically for people in this situation.

It’s worth noting that these products often require a larger deposit than regular mortgages, which usually range from 10% to 15% of the property’s value. If you need help securing a mortgage in Runcorn despite having bad credit, our team is more than happy to try and help.

Can I get a second mortgage in Runcorn?

As a mortgage broker in Runcorn, we have successfully helped numerous clients acquire second or multiple mortgages for various purposes, such as buy to lets, let to buys, holiday lets, and more.

Usually, getting an additional mortgage requires a significant deposit, a good credit score, and the financial capability to manage two mortgage payments every month. However, with let to buy or buy to let mortgages in Runcorn, having a tenant may cover the second set of payments.

It’s strongly recommended that you consult with a mortgage advisor in Runcorn to assess your eligibility before applying for another mortgage.

When should I get an agreement in principle in Runcorn?

Securing an Agreement in Principle (AIP) is a vital step in the mortgage application process, as it indicates a lender’s willingness to let you borrow from them based on you providing evidence supporting your income and affordability.

With an AIP, you can make an offer on a property and even use it to negotiate the purchase price with the seller. If two buyers approach a seller, one with an AIP and the other without, the buyer with the AIP is more likely to be chosen because they have already been pre-approved and can move through the mortgage process faster.

AIPs typically remain valid for 30-90 days and can be renewed after they expire. If you need help obtaining an AIP, you can turn to a mortgage broker in Runcorn, like us. We can typically arrange an AIP within 24 hours of your mortgage appointment, making your mortgage journey smooth and hassle-free.