When should I obtain an agreement in principle in Walsall?

To start your property search in Walsall, we advise that you obtain an Agreement in Principle (AIP) as early as possible during the process. As a mortgage broker in Walsall, we can typically generate this document within 24 hours of your mortgage consultation.

An AIP is a valuable document that demonstrates your financial capability to qualify for a mortgage, contingent upon you providing proof to validate your income, credit history, and other pertinent factors. Furthermore, an AIP may aid you in negotiating with the seller and potentially lower their asking price.

How does my free mortgage appointment in Walsall work?

When booking your free mortgage consultation with us, you’ll get to spend around 30 minutes to an hour conversing with one of our experienced mortgage advisors in Walsall.

Throughout the consultation, your mortgage advisor in Walsall will inquire about your financial and personal situation to gain a comprehensive understanding of your mortgage objectives. This allows us to determine the most appropriate mortgage products for you.

Following your appointment, your mortgage advisor in Walsall will review your information and conduct a search to locate the most suitable mortgage product that meets your individual requirements.

Why use a mortgage broker in Walsall like us?

Our objective, as mortgage brokers in Walsall, is to provide you with support and guidance throughout the entirety of the mortgage process. Our services go beyond just locating a mortgage deal for you; the deal that we find will be tailored to your individual financial and personal circumstances.

Furthermore, we will help you prepare your mortgage application to create the best impression possible with your lender. We will ensure that all necessary documentation is in order to validate your income and affordability, maximising your chances of being accepted by the mortgage lender.

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

Despite having a poor credit history, it can still be possible to get a mortgage in Walsall through specialised lenders who offer products tailored to buyers in this situation. However, it’s worth noting that these products typically require you to provide a higher deposit than a standard mortgage. This could range from 10%-15% of the property value.

If you need help securing a mortgage in Walsall with bad credit, our team is at your disposal to provide assistance.

Can I get a second mortgage in Walsall?

As a mortgage broker in Walsall, we have helped many customers obtain second or multiple mortgages for a range of purposes, including buy to lets, let to buys, holiday lets, and more.

Typically, taking out an additional mortgage requires you to provide a significant deposit, have a good credit rating and have the financial capability to meet two large mortgage repayments month on month. In the case of let to buy or buy to let mortgages in Walsall, having a tenant may cover the second set of payments.

We strongly advise seeking guidance from a mortgage advisor in Walsall to assess your eligibility before applying for another mortgage.

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

If you’re looking for a mortgage in Walsall, it’s important to remember that the majority of lenders typically require you to put down a minimum deposit of 5% of the property’s worth.

However, depending on your credit rating, you may have to offer a larger deposit of 10%-15% or potentially more. If you are wanting to find out how much you can borrow for a mortgage in Walsall, get in touch with our team today.