Can I get a mortgage in Beverley with previous credit problems?

Obtaining a mortgage in Hessle can be challenging if you have a history of credit problems, but it’s not impossible. The outcome of your application will depend on the severity of your past credit issues and how long ago they occurred. It’s important to remember that lenders will carefully review your credit record to assess the risk of lending you money.

If you need personalised mortgage advice in Beverley, feel free to contact our team of mortgage specialists.

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

If you’re applying for a mortgage in Beverley, it’s crucial to have a deposit. Most lenders require a minimum deposit of 5% of the property’s value. However, depending on your previous circumstances, such as a history of credit issues, this percentage may be higher, ranging from 10% to 15%.

When should I obtain an agreement in principle in Beverley?

We suggest obtaining an Agreement in Principle (AIP) as early as possible, ideally before you start viewing properties. Having an AIP in place before you begin your house search could give you an advantage when it comes to negotiating with the seller on the asking price.

How does the mortgage process work in Beverley?

If you’re in need of assistance from a mortgage broker in Beverley for getting a mortgage, we offer a straightforward, speedy and friendly process.

When you get in touch with us, one of our mortgage advisors based in Melton will carry out a Fact Find to understand your specific mortgage requirements. Once this is done, your designated mortgage advisor in Melton will search for a mortgage product that fits your personal financial situation. If you’re satisfied with the suggested mortgage product, we’ll then proceed with preparing your mortgage application.

We’ll also conduct a credit check on your behalf to obtain an agreement in principle. Moreover, you’ll need to provide us with supporting documents to strengthen your mortgage application.

Finally, we’ll submit your mortgage application and wait for a formal mortgage offer to be granted.

Are there fees involved in a remortgage in Beverley?

The fees associated with a remortgage are similar to those you paid when you first applied for your mortgage. If you want a detailed explanation of these costs, you can contact our mortgage broker in Beverley.

We will try to reduce these fees as much as possible while also reviewing your current mortgage and comparing it to other options to see if you qualify for a better interest rate.