Specialist Mortgage Advice in Hull
Getting Mortgage Advice in Hull could be extremely beneficial if you’re stuck in a complicated situation. We may be able to get by the problem and help you get a mortgage, even when you thought that it was impossible!
Over our 20 years of working within the mortgage industry, we’ve come across many different mortgage scenarios. Here are some examples of frequent situations we encounter:
Specialist mortgage scenarios:
Property down valuation
When a property survey shows that the sale price is higher than the true value of the home, the lender may pull out of the deal. This is called a property down valuation.
Lenders will not want to lend you more than you agree to. If you act quickly by getting in touch with the property owner or can make up the difference with your own funds, you may still be able to continue with your lender.
Divorce & separation
Although it may be difficult, during a divorce or separation, it’s important to sort out your financial arrangements with your ex-partner sooner rather than later. If you’re financially linked to your ex-partner and they stack up debt or have a bad credit score, it can also negatively affect your credit score if you’re not careful.
Our team will try and help you through this tough time by arranging the mortgage side of the process.
Single name mortgage for married applicants
When you’re married and want to take out a mortgage in your sole name, you’ll have to prove that you can afford it. This will be measured through your lender’s affordability calculator.
Shared Ownership is a scheme that allows you to buy a percentage of a property and then pay the remainder back on rent. The share percentage that you can take out is usually between 10%-75%.
You can own the whole 100% in the future if that’s what you want to do.
Professional mortgages are only accessible by certain professions. To find out if you fit within the requirements, contact us and we will be happy to help.
Second home mortgages
To take out a second mortgage, you’ll first have to show that you can afford two sets of mortgage payments.
Whether it’s for your own use or it’s going to be used for a buy to let, you’ll have to put down a larger deposit on the property.
Holiday home/let mortgages
If you’re wanting to purchase a holiday home, you’ll need to think about whether you’re going to let it out or not. If you’re letting it out whilst you’re at home, you may be able to make some extra money from the property.
If you aren’t planning to let out your home, you want to buy it for your own use, we can still help, so feel free to get in touch.
New build mortgages
New builds will usually be more expensive. If you aren’t quite managing to save up for that minimum deposit mark, it may be worth utilising the Help to Buy Equity Loan scheme.
Non-standard construction properties
Anything described as a ‘non-standard’ construction property means that the property isn’t made of brick and mortar. You may need a specialist mortgage product for a ‘non-standard’ construction property.
We would also recommend carrying out a full structural property survey.
Multiple applicant/house of multiple ownership mortgages
These mortgages are typically taken out by landlords. They can allow multiple applicants to sign onto a mortgage (usually 6 people).
Getting Buy to Let Mortgage Advice in Hull is recommended for these options.
Mortgages past retirement date/lifetime mortgages
You can take out a mortgage after your retirement to release a lump sum of cash in the form of a lifetime mortgage.
Equity release and lifetime mortgage advice is available at Hullmoneyman. This subject requires specialist help and it’s advised that you speak to an expert.
Offset mortgages allow you to link your savings to your mortgage. You’ll have to meet strict requirements to be able to access this type of mortgage as they can often have competitive interest rates.
In need of a Specialist Mortgage Advisor in Hull?
If you need Mortgage Advice in Hull, then you’ve come to the right place, we’re here to help!
- We’re completely open and honest with you. Our Mortgage Advisors in Hull are transparent and only have your best interests at heart.
- Every customer can book their own free mortgage appointment online! Once you answer a couple of questions, you will be select your preferred date and time.
- Hullmoneyman has worked with many different situations in the past. There is rarely a mortgage situation that we haven’t come across.
- We can search through 1000’s of mortgage deals – both specialist and high street products.
- We have over 20 years of industry experience! Our Mortgage Advisors in Hull, know how to help you through your mortgage journey.
- You can book your free mortgage appointment for the morning, evening or the weekend.
Connecting you directly to a Mortgage Broker in Hull is very important to us. We want to get you the advice that you need, as soon as possible!