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

To obtain a mortgage in Stafford, it’s crucial to keep in mind that the majority of lenders will mandate a minimum deposit of 5% of the property’s value. However, depending on your credit score, you may be required to provide a higher deposit of 10% to 15%+ of the property price.

How does my free mortgage appointment in Stafford work?

Our mortgage consultation with you will be scheduled for approximately 30 minutes to an hour. You will have the opportunity to speak with our team of mortgage advisors in Stafford during this time.

During the consultation, our experienced mortgage advisors in Stafford will ask you a series of questions to gain a deeper understanding of your goals. They will also inquire about your personal and financial circumstances to determine the most suitable mortgage products available for you.

After the consultation, our Stafford mortgage advisors will carefully analyse your information and search for the most appropriate mortgage product that matches your unique situation. As a trustworthy and transparent mortgage broker, we pride ourselves on finding personalised mortgage deals tailored to your individual needs.

When should I get an Agreement in Principle in Stafford?

To obtain a mortgage in Stafford, you may need an agreement in principle (AIP) or decision in principle. This document serves as proof of your income and affordability to the lender.

Obtaining an AIP is a crucial step in the mortgage process. It enables you to make offers on properties and negotiate with sellers. If two buyers approach a seller and one has an AIP while the other does not, the seller is more likely to prefer the buyer with the AIP because they have already been approved in principle and can proceed more quickly through the mortgage application process.

AIPs are typically valid for 30-90 days and can be renewed upon expiry. You can obtain an agreement in principle by consulting with a mortgage advisor in Stafford.

Can I get a second mortgage in Stafford?

Our role as a mortgage broker in Stafford has involved assisting numerous applicants in securing second or multiple mortgages, for a range of purposes such as buy to let, let to buy, holiday let, and more.

It is important to bear in mind that obtaining an additional mortgage usually necessitates a substantial down payment, a solid credit score, and the ability to manage extra monthly repayments. For those seeking a let to buy or buy to let mortgage in Stafford, having a tenant may aid in covering these expenses.

Prior to embarking on a new mortgage application, we recommend seeking guidance from a mortgage advisor in Stafford to determine your eligibility. Our company boasts over two decades of experience in the mortgage industry and is always eager to provide assistance.

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

If you have poor credit, you can still obtain a mortgage in Stafford by working with specialized lenders who offer mortgage products tailored to buyers with bad credit. However, you may need to provide a larger deposit, typically between 10%-15% +. Seeking advice from mortgage experts in Stafford can be beneficial, particularly if you are looking to boost your credit score. Our team of mortgage advisors in Stafford can offer valuable guidance and suggest effective strategies to improve your credit score.