Frequently Asked Questions

A mortgage broker acts as an intermediary between you and mortgage lenders. Unlike lenders, brokers don’t provide the loan themselves but help you find the most suitable mortgage deal from a variety of lenders based on your needs and circumstances

An agreement in principle (AIP) is a document from a lender indicating how much you might be able to borrow, based on a preliminary assessment of your financial situation. It helps strengthen your offer when making an offer on a property. 

• Initial Consultation: Discuss your needs and financial situation with the broker.
• Documentation: Provide necessary documents such as proof of income, credit history, and identification.
• Mortgage Search: The broker searches for suitable mortgage deals and recommends options.
• Application Submission: The broker submits your application to the chosen lender.
• Offer and Completion: If approved, the lender will issue a mortgage offer, and the final steps include legal work and completion.

 Yes, brokers can help find mortgage products suited to individuals with poor credit histories. They have access to lenders who specialise in bad credit.

• Repayment Mortgage: You pay both interest and capital each month, gradually reducing the loan balance.
• Interest-Only Mortgage: You only pay interest each month, with the capital repaid in full at the end of the term. This typically requires a separate repayment plan for the capital.

The loan-to-value (LTV) ratio is the percentage of the property’s value that is covered by the mortgage. For example, if you’re buying a property worth £200,000 with a £160,000 mortgage, the LTV is 80%. 

 If your application is declined, we will discuss this with you. We have access to alternative lenders and understand their criteria and processes which may mean that just because you have been declined with one lender, you may not be elsewhere. 

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