How much can I borrow? What will the repayments be? What fees do I need to pay? What if I don’t have a deposit?
Our advisors will talk you through the financial aspects of the buying process and provide you with advice from a wide range of lenders to find you the best mortgage
suited to your circumstances.
Currently mortgage lenders will lend up to 95% of the value or purchase price, whichever is the lower. This means that you will be required to put 5% deposit down and the more deposit you can produce the better deal lenders will offer.
Don’t worry if you can’t produce this size of deposit, Mortgage Source can look at alternative ways of getting you on the property ladder which include:
* Shared Equity
* Shared Ownership
* Help To Buy Options
How much can I borrow?
The majority of mortgage lenders will calculate how much they will lend based on affordability where they analyse your monthly income and expenditure. Mortgage Source can obtain an accurate borrowing figure based on your circumstances.
Buying your first property is probably the first time many clients have ever needed a solicitor. Our advisors can provide you with a solicitor who offers very competitive legal fees when you arrange your mortgage with Mortgage Source.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
We always aim to provide a high quality service to our customers. However, if you encounter any problems and we are unable to resolve them you can take your complaint to an independent Ombudsman. Our advice is covered under the Financial Ombudsman Service ( www.http://www.financial-ombudsman.org.uk/consumer/complaints.htm). You may be able to submit a claim through the EU Online Dispute Resolution Platform (https://webgate.ec.europa.eu/odr/main/?event=main.home.show if you live outside the United Kingdom or if you prefer not to deal directly with the Financial Ombudsman Service.)