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

When seeking a mortgage in Telford, most lenders will request a minimum deposit of 5% of the property’s value. However, if your credit score is lower, you may be required to provide a larger deposit of 10% to 15% of the property’s cost. This is because mortgage lenders often scrutinize your credit history to ensure that they’re lending to a trustworthy borrower.

Missed payments or unsecured debts are typically viewed as possible concerns for mortgage lenders.

Why use a mortgage broker in Telford like us?

As your mortgage broker in Telford, we’re committed to guiding you through the entire mortgage process, from start to finish. Our aim is to help you locate the most appropriate mortgage product for your financial and personal circumstances, assist you with completing your application, ease any stress during the process, and, most importantly, assist you in obtaining the keys to your dream home.

Our team of professionals has extensive experience working with a variety of buyers, with specialisations that include buy to let and self-employed mortgages in Telford, equity release, insurance, and unique scenarios.

Accessing mortgage advice in Telford has never been simpler, as you can now book your free mortgage consultation or schedule a callback with one of our mortgage advisors in Telford online.

How does the free mortgage appointment in Telford work?

At your free mortgage consultation, you’ll have the chance to speak with a mortgage advisor in Telford for roughly 30-60 minutes. Your advisor will inquire about your mortgage needs and objectives, as well as collect information about your personal and financial history to identify available mortgage options that match your situation.

Following the consultation, your mortgage advisor in Telford will conduct research to locate a suitable mortgage product that aligns with your specific circumstances.

Can I get a second mortgage in Telford?

As a mortgage broker in Telford, we have helped numerous applicants in securing a second or even multiple mortgages, for purposes such as buy to let, let to buy, holiday lets, and more.

However, obtaining another mortgage typically requires a sizeable deposit, a strong credit score, and the ability to manage additional monthly repayments. In cases where a let to buy or buy to let mortgage in Telford is involved, having a tenant can help cover these expenses.

Before proceeding with an application for another mortgage, we suggest consulting with a mortgage advisor in Telford to determine your eligibility. Our experienced team has been working in the industry for over 20 years and is available to provide assistance.

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

Even if you have bad credit, obtaining a mortgage in Telford may still be possible. Certain lenders specialise in providing products to buyers with bad credit, so it’s worth exploring these options.

However, if you have bad credit and are seeking a mortgage in Telford, be prepared to provide a larger deposit, usually around 10%-15%. If you require mortgage advice in Telford and would like assistance in improving your credit score, our mortgage advisors in Telford are available to guide you in the right direction and provide tips on where to start.