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Steve Sivell

Why you should be talking to a Mortgage Adviser, even before you are ready to buy!

You may think speaking to a mortgage adviser is something people only do after they’ve had an offer accepted on a house. But if you’re considering buying a home in the future, it’s a good idea to speak to a mortgage adviser as soon as possible. Here’s why…


You’ll find out critical information 

Mortgage advisers can be brilliant sounding boards; you can explain your circumstances and what you want to achieve - and they can talk you through how to get there. 

During your chat with an adviser you’ll find out what mortgages are out there, and therefore what you should be aiming at. From small deposits, Government backed schemes and the type of mortgage you should be going for, they are there to help.


Your mortgage adviser will save you time

Your mortgage adviser will give you a realistic expectation of you’re likely to be able to borrow based on your circumstances. They can give an idea of a realistic budget you can work towards. This will determine the type of property you will be able to buy and the location you might want to live in.


You’ll find out about other costs

As well as your deposit, there are other costs you’ll need to factor into your budget when you’re buying a home. For example, depending on the value of the property, you may need to pay Stamp Duty. Plus, there are other costs like solicitor’s fees to include too. 


Your mortgage adviser can help you get ‘mortgage ready’

This means that you get yourself in the strongest position possible, ideally six months before applying for a mortgage. And an adviser can explain to you how to do this

  • * For example, do you have any outstanding loans? Then try to pay these off before you apply for a mortgage and avoid taking out any more loans in the meantime.
  • * Pay all your bills on time. This will prove you are reliable and financially independent. 
  • * Check your credit report. If there are any mistakes, make sure they get corrected. And if there are any steps you can take to improve your credit rating, now’s the time to do it. 


Time to consider your options

Finally, there are many different types of mortgages to consider. All of them have pros and cons, but by having the conversation early you’ll have plenty of time to think these decisions through.

When you are ready, why not give Steve a call and talk about the best option for you: 01460 78384 or 07811 947421

Because we play by the book we want to tell you that…

Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances.
The fee is up to 1%, but a typical fee is 0.3% of the amount borrowed.

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