FAQ - How much can I borrow and what rate will I get?
The most popular mortgage related questions! Curious to know? Read on!
Annie Young
1 min read
We understand it's only natural to look at the cheapest mortgage rates online (and don't get us wrong, it's good to have some level of expectation!) However, don't assume you can automatically qualify for what you see online.
Why? Because there are so many varying factors about your unique scenario:
-Your age
-Your income
-Your expenditure
-Your credit profile, not just your score
-If you have any financial dependents
-If you have any loans, car finance, credit cards, overdrafts as these are all treated as debt
-The type of property you are purchasing or living in
-Are you buying or remortgaging on a special scheme
-The Loan to Value (LTV) of the mortgage rates
When you see rates it may not tell you the LTV or the eligibility criteria, so you could risk being disappointed
So what should you do?
1.Speak to a broker to get independent , qualified advice
2.Get your credit report from this multi agency, don't rely on a single provider. You can check yours for free here just cancel in 30 days to avoid charge
3. Sort this out in good time, before you go on any viewings or 7-8 months before your remortgage deal ends
Next Stage Financial
Experts in delivering mortgage solutions. For us it's not a transaction. It's about the Next Stage
annie@nextstage.finance
Next Stage Financial Ltd
Wanstead Works
34-40 High Street
East London
London
E11 2RJ
+44 7969 468 828
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Next Stage Financial Ltd is a trading style of Knott Another Mortgage Adviser Ltd, 35 Berkeley Square, London W1J 5BF who are authorised and regulated by the Financial Conduct Authority number 300531. Our fees start from £585. Your home may be repossessed if you do not keep up with your payments.