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

When looking for a mortgage in Wirral, it’s crucial to keep in mind that most lenders generally require you to have a minimum deposit of 5% of the property’s value.

Nevertheless, depending on your credit rating, you may be required to provide a larger deposit, ranging from 10%-15% or possibly more. If you want to determine how much you can borrow for a mortgage in Wirral, don’t hesitate to contact our team today.

When should I get an agreement in principle in Wirral?

An agreement in principle (AIP) is a document that a lender issues to show their willingness to lend to you based on the evidence of your income and affordability for a mortgage.

An AIP is a crucial element in the mortgage process. It enables you to make an offer on a property and can help you negotiate prices with the seller. For example, if two prospective buyers approach a seller, one with an AIP and one without, the seller is more likely to prefer the buyer with the AIP. This is because they have already been pre-approved and can proceed more quickly through the mortgage process.

AIPs are typically valid for 30-90 days and can be renewed once they expire. To obtain an AIP, you can speak with a mortgage broker in Wirral, like us. We can usually arrange an AIP within 24 hours of your mortgage appointment.

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

Despite the potential difficulties of having a poor credit score and getting a mortgage, there are specialised lenders who offer mortgage products tailored to buyers in this predicament. It’s worth noting that such products typically require a larger deposit compared to standard mortgages, usually ranging from 10%-15% of the property value.

If you need assistance in obtaining a mortgage in Wirral despite having bad credit, our team is here to provide the necessary support.

Can I get a second mortgage in Wirral?

As a mortgage broker in Wirral, we have a history of helping many clients secure second or multiple mortgages for various purposes, including buy to lets, let to buys, holiday lets, and more.

Typically, obtaining an additional mortgage requires you to have a large deposit, a strong credit rating, and the financial capability to meet two substantial mortgage payments each month. However, for let to buy or buy to let mortgages in Wirral, having a tenant may cover the second payment.

We strongly advise that you consult a mortgage advisor in Wirral to assess your eligibility before applying for another mortgage.

How does my free mortgage appointment in Wirral work?

When you book a free mortgage consultation with us, you can expect to spend around 30 minutes to an hour speaking with one of our experienced mortgage advisors in Wirral.

During the consultation, your assigned mortgage advisor will ask you questions about your financial and personal circumstances to gain a comprehensive understanding of your mortgage objectives. This allows us to pinpoint the most suitable mortgage options that cater to your specific needs.

Following your consultation, your mortgage advisor in Wirral will analyse your details and carry out an extensive search to find the perfect mortgage product that fits your individual requirements.

Why use a mortgage broker in Wirral like us?

Our main objective as a mortgage broker in Wirral is to provide complete support and guidance throughout the mortgage process. We don’t just get you any mortgage deal; rather, we try and find you a mortgage product that fits your unique financial and personal circumstances.

In addition, we will help you prepare your mortgage application to create a positive impression on your lender. We make sure that all the necessary documents are in order to verify your income and affordability, thereby increasing your chances of getting approved for a mortgage.