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

When looking for a mortgage in Kidderminster, it is important to note that most lenders typically require a minimum deposit of 5% of the property’s value. Nevertheless, depending on your credit score, you may need to provide a higher deposit, ranging from 10% to 15% or more, of the property’s purchase price.

Why use a mortgage broker in Kidderminster like us?

As a mortgage broker in Kidderminster, our objective is to provide our full support and guidance throughout the mortgage process. We do not just try and find a mortgage deal, we will try and find you a mortgage deal that is the most suitable mortgage product for you, tailored to your individual financial and personal circumstances.

We will also help you prepare your mortgage application so that you look the best that you can in front of your lender with all of the correct documents in place to support your income and affordability.

How does my free mortgage appointment in Kidderminster work?

Your free mortgage appointment will typically last between 30 minutes to an hour, during which you will have the opportunity to speak with one of our mortgage advisors in Kidderminster.

To gain a comprehensive understanding of your objectives, your mortgage advisor in Kidderminster will ask you a series of questions regarding your personal and financial circumstances to enable us to determine the most suitable mortgage products available to you.

Following your appointment, your mortgage advisor in Kidderminster will carefully evaluate your information and commence a diligent search for the most appropriate mortgage product that aligns with your unique situation.

Can I get a second mortgage in Kidderminster?

As a mortgage broker in Kidderminster, we have helped many applicants in obtaining second or multiple mortgages. This includes buy to lets, let to buys, holiday lets, and other purposes.

Acquiring an additional mortgage typically requires a substantial deposit, a good credit score, and the ability to afford two sets of large mortgage payments. In situations involving let to buy or buy to let mortgages in Kidderminster, having a tenant covers your second set of payments.

We strongly recommend seeking advice from a mortgage advisor in Kidderminster to assess your eligibility before proceeding with another mortgage application. Our skilled team, with over two decades of experience in the industry, would love to help you through your mortgage process.

When should I obtain an agreement in principle in Kidderminster?

Prior to searching for a property in Kidderminster, we would advise securing an Agreement in Principle (AIP). As a mortgage broker in Kidderminster, we can usually prepare this document within 24 hours of your mortgage appointment.

An AIP is a document that serves as an indication of your financial capability to afford a mortgage, given that you can provide evidence to support your income, credit history, and other relevant factors. Also, they can sometimes help you negotiate with your seller and their asking price.

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

Yes, it still may be possible to get a mortgage in Kidderminster despite having bad credit. There are specialist lenders out there that hold products for these types of buyers.

You should know that these products will often require you to put down a larger deposit total. Usually you would expect to put down a 5% deposit, however, with bad credit it may stretch to 10%-15%.

If you want bad credit mortgage advice in Kidderminster, our team will happily answer your questions and can also direct you to an advisor that specialises in your area.