If you’re an employee, you will usually have to supply three pay slips to prove your income. If you are Self Employed in Leeds, it is typically the latest two years’ accounts. You will also need to provide proof of ID, address and three months’ bank statements.
Despite having shown any credit problems in the past, the good news is you may be able to get a mortgage, but it means you may be required to put down a higher deposit, e.g. 10 – 15% of the property purchase price.
You can have two mortgages running simultaneously, as long as you can afford to repay the monthly instalments on each of them. If you’re looking to accomplish something like debt consolidation or home improvements, you may be able to place a second mortgage on your home.
As a committed Mortgage Broker in Leeds, we will carry out a Fact Find to establish your personal needs before we go ahead with advising the most suitable mortgage for your circumstances. From there, you will be credit checked, which is a requirement to obtain an Agreement in Principle. Once you have provided all the relevant documentation and a valuation of the property has been undertaken, you can be issued a formal mortgage offer.
The fees involved in Remortgaging will be similar to those involved at the start of your existing mortgage. Your allocated Mortgage Advisor in Leeds will be able to break down all of the fees with you before proceeding. So you are able to consider these fees when comparing the savings of the new deal against the current mortgage you are on.
Your free remortgage consultation with a Mortgage Advisor in Leeds will last around one hour. Once they have evaluated your circumstances, they will compare a potential new deal against your current product, recommending the most affordable one for your needs, with no obligation to proceed.
Consolidating your debt into your mortgage can help you better budget your finances and bring your outgoings into one manageable monthly payment. Please do not rush into this, though, as there are some downsides. We advise that customers always seek Mortgage Advice in Leeds before consolidating debts.
There are several reasons you might consider Remortgaging in Leeds, but it’s a good opportunity to possibly save large amounts each year on your mortgage repayments if you are on your lenders SVR (Standard Variable Rate of Interest). Some people choose to Remortgage when they have come to the end of their mortgage deal. If you have equity in your property, a remortgage will also allow you to release some of this money for things like home improvements. We will compare the new products available against your current mortgage deal to work out these savings for you.