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

When looking for a mortgage in Melton, it’s crucial to keep in mind that most lenders usually require you to provide a minimum deposit of 5% of the property’s value. Nevertheless, depending on your credit score, you might be required to offer a higher deposit of 10% to 15% or even more.

If you’re curious about your potential borrowing capacity for a mortgage in Melton, don’t hesitate to contact our team today.

Can I get a second mortgage in Melton?

As a mortgage broker in Melton, we’ve managed to help numerous clients in securing second or multiple mortgages for various purposes, such as buy to lets, let to buys, holiday lets, and more.

Typically, obtaining an additional mortgage entails providing a substantial deposit, having a favourable credit score, and possessing the financial means to cover two significant mortgage payments each month.

We highly recommend consulting with a mortgage advisor in Melton to evaluate your eligibility before taking out another mortgage.

When should I obtain an agreement in principle in Melton?

As a mortgage broker in Melton, we recommend securing an Agreement in Principle (AIP) as early as possible when searching for a mortgage, preferably before scheduling property viewings.

With an AIP in hand while house hunting, you could potentially have more leverage in negotiating the seller’s asking price.

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

Obtaining a mortgage in Melton with a history of credit problems can be challenging, but not impossible. The severity of your past credit issues and the time elapsed since they occurred will impact the outcome of your application. Keep in mind that lenders will carefully assess your credit history to determine the risk of lending you money.

You may need to provide a larger initial deposit to be able to secure a mortgage with bad credit in Melton. This is usually around 10%-15% of the property price.

If you need specialist mortgage advice in Melton, please don’t hesitate to reach out to our team of mortgage experts.

How does the mortgage process work in Melton?

If you are looking to take out a mortgage and need help from a mortgage broker in Melton, you should know about our simple, fast and friendly process.

When you contact us, one of our mortgage advisors located in Melton will conduct a Fact Find to understand your mortgage requirements. After you have completed this, your designated mortgage advisor in Melton will search for a mortgage product tailored to your personal financial situation. If you are satisfied with the proposed mortgage product, we will proceed with preparing your mortgage application.

We will then conduct a credit check on your behalf to obtain an agreement in principle. Additionally, you will need to provide us with supporting documents to strengthen your mortgage application.

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