If you’re looking to buy the house of your dreams, you may need a mortgage.

If you’re looking to buy the house of your dreams, you may need a mortgage.

If you’re thinking of moving from rental into home ownership, moving into a bigger property, downsizing or purchasing a buy to let, most people require a mortgage to do so. It’s best to take advice on finding the right mortgage to exactly suit your needs, that will be affordable. Mortgage products are also constantly changing, and you may need help in navigating the market.

 

Mortgage options for first time buyers

 

Whether you’re taking your first step onto the property ladder, or you’re a parent or grandparent looking to help your child or grandchild purchase their first home, there are mortgage options dedicated to first time buyers.

 

New Home Mortgages

 

Did you know mortgages are available exclusively for new build homes? There are exclusive new build mortgage rates which could help you purchase a brand new property.

 

 

What is a mortgage affordability check?

 

A lender will want to ensure that you can afford a mortgage – they will review how much you earn, plus any other income, and how much you spend on bills and other regular payments.

 

You’ll be asked to provide proof of income; if you’re an employee, usually this means copies of your last three payslips, most recent P60 and your last three bank statements. If you’re receiving any other income, such as from a part-time job, you’ll be asked to provide proof of this as well.

 

If you’re self-employed, usually you’ll be asked to provide three years of audited accounts, two years of your SA302, and Tax Year Overviews. You’ll also be asked for bank statements for your personal and business bank accounts, usually going back three months.

 

You’ll also need to document all of your outgoings. That will allow a lender to ensure that you’ll be able to afford the monthly mortgage payments going forward. 

 

 

Whether you are a first-time buyer, moving home or simply wishing to take advantage of a more competitive rate, it is important that you have the right mortgage solution.

 

 

At Pendle Hill Properties, we work with carefully selected partners who uphold the same high standards of customer service as we do. With the products on offer from lenders always changing, we work with Fairstone to offer the best solution.

 

Fairstone’s mortgage experts understand the complex property market, so you don’t have to, and with the experience needed to identify trends and work through any challenges which may arise, they will do everything to secure a deal that is right for you. They can provide key areas of mortgage advice.

 

We appreciate finding the right mortgage for you and your individual circumstances is paramount. To talk to us about your mortgage options, call Sophia on 01282 965 425 or email info@pendlehillproperties.co.uk.

 

 

We’re a family run firm, at the heart of the community, and we’re friendly, open and honest. We hope you’re on the journey to find your dream home, and if we can help in any way, just get in touch!

 

 

www.pendlehillproperties.co.uk/mortgages

 

 

You can get an instant valuation for your current property in just 60 seconds here: https://pendle-hill-properties.lead.pro

 

Posted on 1 April, 2022

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