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Can
I get a decision on a mortgage before I have found a property
to buy?
Yes, it is a good idea to get your mortgage approved subject
to property. This means less chance of a break in the
property chain, your purchase will complete more quickly
and you will be in a stronger position with estate agents
when you do make an offer on a property.
I am self employed with no accounts,
can you help?
Yes, we can normally arrange a mortgage of upto 90% -
so you will only require a 10% deposit.
I have CCJ's and defaults, can
you help?
Yes, we can normally arrange a mortgage upto 95% with
unlimited adverse.
I don't earn enough, can you help?
Yes, we can normally self certify your income upto 90%.
I have been previously bankrupt, can you help?
Yes, usually upto 95% depending on when you where declared
bankrupt.
I'm on a contract can you help
?
Yes, in most cases upto 95% of the purchase.
Can I have a 100% mortgage?
Yes, at Mortgage Network, the maximum level on a purchase
is 100% of the property value with no credit score or
125% with a good credit score.
What's the most I can remortgage
my house upto?
Usually you can go upto 95% of it's value, however, if
you have arrears, adverse problems or cannot prove income
then there are lenders who will allow upto 80% with no
income checks and unlimited arrears and adverse.
Can I buy my Council Home?
Yes, usually upto 90% of it's current market value, if
there are adverse problems and arrears or maybe no proof
of income then there are lenders who will allow upto 75%
with no checks on income and unlimited arrears and adverse.
What sort of rates will I be charged?
The rates charged by lenders reflect your circumstances.
Therefore a mortgage consultant will need to assess your
situation before being able to tell you which rates would
be available to you. As a guide we usually say best case
4.5% worst case 8.5%.
Which lenders do you use?
We search from a panel of lenders including high street
lenders and specialists, all of which are accredited by
the Council of Mortgage Lenders.
Can I get a Shared Ownership mortgage?
Not currently, as there are no lenders at the moment who
accept adverse credit on a shared ownership basis, so
unless you have good credit record then don't waste your
time.
How can Mortgage Network help
when other brokers can't?
We specialise in helping people who are having difficulty
in obtaining a mortgage due to difficulty in proving income
or who have had credit problems. Whatever
your problem we can HELP!.
Remember we specialise in problem mortgages unlike your
high street broker.
I am not on the voters role, can
you still get me a mortgage?
Yes, if you are able to provide proof of residency in
the form of 'utility bills' 'bank statements' etc.
I am unemployed, can I still get
a mortgage?
Yes, it's a bit tricky but there are lenders out there
who will allow this.
How long do I need to be in my job before I can get a
mortgage?
The criteria varies from lender to lender, if you are
serving a probationary period then this could be a problem,
one we can overcome though.
How much can I borrow in relation
to my income?
Generally most lenders will lend 3.5 times your annual
income for a single applicant and 2.75 times for joint.
Some lenders will allow as high as 5 times single and
4 times joint income.
I have an outstanding balance from a property repossession,
can I still get a mortgage?
Yes, the criteria varies from lender to lender. The above
Questions and Answers are very general.
Everyone's situation is different. Please contact our
advisors for constructive and sympathetic advice.
Whatever your mortgage
problem ...
We can help! |
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