Firstly, welcome to our Mortgage Broker in Birmingham website. Rest assured, we are here to help with all of your Mortgage Enquiries. Likewise, if you would like any help from your Friendly Mortgage Advice Experts, then please give us a try as we’ll support you throughout the whole process!
Your free initial consultation lasts approximately one hour and it can be carried out over the phone or face to face. We will then recommend a mortgage for you with no obligation for you to proceed and you can decide whether or not you wish to go ahead.
We carry out a Fact Find to establish your needs prior to recommending the most suitable mortgage for you. A credit check is then required for an Agreement in Principle and then once you have provided all the relevant documentation and a valuation of the property has been carried out a formal mortgage offer can be issued
We recommend you obtain an Agreement in Principle before you start viewing properties to avoid disappointment. At the very latest you should obtain one prior to making an offer to assist your bargaining position
An Agreement in Principle typically lasts for between 30 and 90 days depending on the Lender. If your Agreement in Principle expires it can always be refreshed.
It can be possible to get a second mortgage on your home for debt consolidation or Home Improvements. It may also be possible to take out a mortgage on a second property if it is for your own use, the use of a family member, a holiday home or a Buy to Let.
The minimum deposit with High Street Lenders is typically 5% but this can be higher if you have had previous credit problems.
If you have had credit problems you can still get a mortgage but you may need to put down a higher deposit than usual, perhaps 15% of the purchase price.
You can get a mortgage once you have submitted at least one year’s accounts. Most Lenders use your salary + dividend to calculate the maximum mortgage whereas others go off your net profit.
To prove income it’s usually three payslips for an employee and the latest 2 years’ accounts for self-employed. In addition you will need to produce proof of ID, address and 3 months’ bank statements.
Our free consultation typically lasts up to an hour or so. We can turn round an agreement in principle within 24 hours and a formal mortgage offer takes about three weeks on average.
The amount you can borrow is dictated by how much you earn, your monthly expenditure and the length of the mortgage term. We can give you an indication of the maximum mortgage available during our free initial consultation.