When planning to make a deposit for a property in Rothwell, most mainstream lenders generally require a minimum of 5%. However, depending on your individual circumstances, such as any previous credit issues, certain lenders may ask for a larger deposit.
Typically, a mortgage consultation with a mortgage advisor in Rothwell is provided at no cost and lasts around 30 minutes.
Once your situation has been evaluated, the mortgage advisor will offer impartial mortgage advice without any pressure or requirement to continue.
With the advice given, you will be able to make an informed decision on whether or not to proceed with the mortgage process.
In order to evaluate your creditworthiness and ascertain your qualification for a mortgage in Rothwell, it is advisable to obtain an agreement in principle before you begin property viewings.
It is recommended to secure this agreement prior to making an offer, ideally at the earliest opportunity. This will strengthen your bargaining position and demonstrate to the seller that you are prepared to proceed if your offer is accepted. Generally, we can obtain an agreement in principle within 24 hours.
For employed individuals, it is typically required to present three pay slips as proof of income. However, if you are self-employed in Rothwell, you will generally be requested to provide your most recent two years’ accounts, along with documentation verifying your identity, address, and three months’ worth of bank statements.
Our initial mortgage consultation is typically free of charge and lasts around 30 minutes. As an experienced mortgage broker located in Rothwell, we can usually obtain an Agreement in Principle within 24 hours once we have collected all the necessary information. In the majority of cases, you can anticipate receiving a formal mortgage offer within three weeks.
Regardless of any past credit problems you may have encountered, there is still a possibility for you to be eligible for a mortgage in Rothwell. However, it’s worth mentioning that a larger upfront payment, usually between 10% and 15% of the property’s purchase price, might be required.