Mortgage Adviser Cambridge
Professional Advice
Because a mortgage loan is secured against your property, it is considered to be lower risk than an unsecured loan. Therefore, lenders can offer more favourable terms, at a lower interest rate and over a longer period.
The main types of mortgages are: residential; second home; buy to let and equity release.
Different rules apply under different circumstances so arranging a mortgages can be a minefield and take a frustrating amount of time and energy. An experienced mortgage adviser will, therefore, save you a lot of time and money by finding you the most suitable mortgage product.
Applying for a mortgage
Applying for a mortgage is normally a two-stage process.
The first stage involves a basic fact find to work out how much you can afford, and which type of mortgage suits your needs best.
The second stage is where your mortgage adviser will conduct a more detailed affordability assessment, and if they haven’t already requested it, gather evidence of your income, expenditure and understand where your deposit is coming from.