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If you are applying for a mortgage, having a high credit score can make it more likely to get accepted for a mortgage and this is especially the case for first time buyers in Sunderland. Lenders will have a thorough check of your application to make sure that you can manage your monthly mortgage payments.
Keep in mind that there is no guarantee that you obtain a mortgage. You will find that find every lender has their own different lending criteria, meaning that you may not match every single of them.
Because of this, you may be unsure of which mortgage product to go for – this is where we come in. As an experienced mortgage broker in Sunderland, we can provide you with a tailored recommendation based on your financial and personal circumstances as well as your mortgage goals.
Approaching a mortgage broker, like ourselves, will give you the chance to speak to a mortgage advisor in Sunderland who will ask you a series of questions to build a picture of your financial situation in order to find you the most appropriate mortgage deal
Your credit score can play a big role in getting a mortgage which is why we will always be available to provide insight on ways to improve your credit score and help you find the perfect mortgage deal.
If you are looking to get a more detailed insight into your credit, check out the wide range of credit scoring agencies like Experian and Equifax. Prior to making a decision, research each agency it is possible that they could be keeping incorrect data and could help you find any inconsistencies.
Improving your credit score can be challenging, but here are a few more straightforward ways of going about it:
Making multiple credit searches could harm your credit score. Price comparison websites will also damage your score, so be extra careful. We also advise you to not apply for credit during the mortgage process as a lender may look at this and think that you are struggling financially.
It is a good thing in the long term though as it shows that you can pay recurring payments.
Another way to improve your credit score is by registering for the Electoral Roll. In the lender’s eyes, it shows stability which they want to see. When enrolling, you must spell your name correctly and set your address to your current one and not an old one.
If you are not registered, then you definitely should as it’s quick and easy to set up and it could help improve your credit score. Make sure everything is correct.
Maxing out your card each month is bound to reduce your credit score. The lender looks at your credit card statements to check whether you have paid off balances by the due date or not. If you are meeting due dates and have never exceeded overdraft limits.
Then a lender will see that you can manage your finances quite well and it could prove beneficial towards your application.
However, if you don’t manage your finances carefully, then the lender will believe that you don’t take payments seriously, hence making your chances of being accepted by them low.
We sometimes find that people who have moved house have not told their previous credit provider. It means that on their records, you still live in the other property.
So there are two separate addresses/properties linked with your name. Again, make sure you are on top of this as lenders don’t like to see your address history all mixed up.
Do you have a family member or ex-partner connected to your financial commitments?
You might not even know if you do, but it’s worth checking to be sure because you can’t get the economic association removed if the account is still live. If you are trying to remove any of these links. Then you should contact the credit reference agencies and make a request.
Applicants see credit scoring as being an unfair approach to accessing whether they can get a mortgage or not. Lenders disagree as this method provides a faster, fresher approach to the credit scoring system. It’s also a lot cheaper for them, and it gives always provides a result that they can trust.
If you want to get ahead of the game. You should send an up-to-date copy of your credit report to your Mortgage Advisor in Sunderland. Starting in advance will increase your chances of being accepted the first time. The more that your advisor knows about your financial situation, the better.
Also, there are still some lenders that will want to do the process the old-fashioned way and will prefer a manual approach. They will have specific rules that they stick by about the number of defaults and CCJ’s that they will allow.
Here are some of the reasons for customers looking to obtain a second mortgage:
If you have a large amount of equity built up in your home and are looking for a second mortgage to release some of the funds to put towards a new home or something else, then your experienced Mortgage Advisors in Sunderland may be able to help.
Usually if customers find they are currently on a lenders standard variable rate, our team are able to shop around and find a more competitive deal, whilst also being able to release capital. A further advance with your current Lender is also a route you could take.
Some customers consider moving home in Sunderland, whilst retaining ownership of their existing property with the intent to rent it out. Your second mortgage will be a new residential mortgage. This type of move is known as a Let to Buy and over the years has become a popular option amongst homeowners.
Maybe you are exploring the possibility of helping your children or grandchildren with in finding a spot on the property ladder. Nowadays there are many products that we can run through to make this work.
Is your name currently on another mortgage and you’re looking to purchase a new property to live in? This is something that we come across quite often, especially when factoring in things like divorce or separation and can often help.
Whatever your situation is in wanting to obtain a second mortgage, your experienced Mortgage Broker in Sunderland will be able to search 1000’s of mortgage deals on your behalf and recommend the most suitable product for you based on your personal circumstances.
100-125% mortgages are a thing of the past now. The country seems to be in a more stable, secure financial state post-Credit Crunch and the property market is back in full swing.
With many more rules and regulations set in stone, mortgage lenders are now more confident when it comes to offering 95% mortgages.
95% deals aren’t the only ones available though, it can. The more deposit you have available to put towards a property, the less you have to pay back, and you open yourself up to more competitive interest rates.
Deposits also act as a safety net for mortgage lenders. The reality is, they need to be confident you can make your monthly repayments. If you don’t, they’re at a financial disadvantage. With a large enough deposit, lenders are able to retain some of their finances should difficulties arise.
Saving for a deposit is hard for a lot of people, we know this. The leap from renting to becoming a first-time buyer in Sunderland can be a tricky one to navigate. This is especially the case if you are already renting or have a family, as any potential savings would already be split amongst various home essentials.
As an experienced and knowledgeable mortgage broker in Sunderland, we regularly find many deposit related questions being asked. Here we answer these as best we can, in the hopes you will gain a better understanding of how deposits work regarding the home buying process.
Yes, it is! Larger deposits allow for improved interest rates. From here you possibly open yourself up to lower mortgage repayments per month, as you will also be borrowing less for your new home.
As touched on in the previous section, higher deposits put you at a lower risk the lender should things not go as planned, which really does work to your advantage. Products are offered in bands of 5%, with the highest and most expensive being 95%.
Though it doesn’t happen often, it has been known to crop up from time to time. However, this is considered by the lender as an additional credit commitment. Because of this, the lender will grant you a smaller mortgage than the one you might have initially planned for.
The majority of lenders would really rather you refrain from this option though, especially if you are looking to borrow 100% of the purchase price.
The majority of lenders, at least the ones we have worked with, have no problem at all with members of your family and sometimes friends too, gifting your deposit.
The one who is gifting must be able to confirm that it is 100% a gift and not something you’re required to pay back to them over time. For the purposes of anti-money laundering, they may also need to provide them with identification and proof of your funds.
Given the term “The Bank of Mum & Dad” amongst home buyers and lenders alike, gifted deposits are seen a true lifeline for those struggling to get onto the property ladder. In truth, the market would look completely different if it were not an option!
For Anti-Money Laundering purposes, all applicants are required to fully evidence their funds by providing bank statements to the lender. They like to take a look at how exactly additional funds have been obtained too. Recent large cash deposits in your account can sometimes be an issue for lenders.
If you have made a large sale lately, like sell your car, you will need to provide a receipt and be able to prove that the amount it sold for matches the deposit made in your bank account.
The longer these funds sit in your account, the less hassle this is for both you and the lender. Providing an audit trail for your deposit source can often be quite difficult for home buyers undergoing the mortgage process.
If you are planning to fund your deposit by selling your current, then your proof of deposit will be the Memorandum of Sale provided to you by the estate agent. These are documents that record the buyers’ interest in your property and the terms of sale you have both agreed on.
This all depends on personal circumstance, but no, you don’t necessarily need one. If the house has been genuinely discounted by the previous home owner, your lender may accept the discount as a means of deposit.
For example, if the property is worth £150,000 and you have been offered it for £130,000, they will take the £20,000 discount as a deposit. This works hand in hand with a Right to Buy from the local authority or private landlord.
Please note that the above information is for reference purposes only and should not be taken as personal financial or mortgage advice to an individual.
When you have an offer accepted on a property your next job is to arrange a property survey. This will establish the condition of the property and ensure that it is worth what you are going to pay for it. If something is found on the survey you are then in a position by law to approach the seller to negotiate a price for the works required.
Here’s a short video from the Royal Institution of Chartered Surveyors (RICS) that explains the different types available to you.
There are 3 main types of property survey available to you:
A basic valuation is the cheapest option and you will be required to have one of these before you receive your mortgage offer. Please don’t confuse this with a full survey. The mortgage valuation confirms to the lender that the property is worth at least what it is lending you.
Your mortgage lender may even offer you a free basic valuation as part of your deal, if you’re a first time buyer in Sunderland you may want to look out for this opportunity.
A Mortgage Valuation will not highlight any repairs that are needed. However, it may point out any obvious defects and recommend that you investigate further.
A Homebuyer’s report will cover structural safety and highlights problems, including damp, as well as anything that doesn’t meet current building regulations. This kind of report will give you an independent report of your property by an expert.
To ensure you are not paying for two surveys it is advisable to ask the mortgage companies surveyor to carry out this report for you – it will usually take a couple of hours to complete.
A Full Structural Survey is advisable for older properties and those of non-standard construction and might provide more help to home movers in Sunderland.
Depending on the property size and type – a full structural survey can take as long as a day to complete.
A full structural survey provides a detailed report on the condition of the property and highlights issues that should be investigated further before going ahead with the purchase, providing you with peace of mind about the condition of your property so you don’t end up with mortgage problems in Sunderland.
You can find a surveyor to carry out a Homebuyer’s report or building survey through the Royal Institution of Chartered Surveyors.
To be able to recommend the most appropriate mortgage for you based on the circumstances you’re currently in, it is of vital importance that our mortgage advisors gain a complete understanding of your financial situation. As a mortgage broker in Sunderland, the primary way we believe this can be achieved is by obtaining an up to date copy of your credit report.
We personally would highly recommend using Check My File to do this, as they are able to bring in your data from 4 different credit reference agencies, giving you a more accurate and detailed look at your personal credit profile. It’s especially handy, as in some instances, the data that is held by one agency, may differ to the data from another.
Try it FREE for 30 days, then £14.99 a month – cancel online anytime.
When it comes to sending your credit report by email, the steps necessary will be a bit different depending on what device and email client you are using, e.g., Android, iPhone or Desktop & Gmail, Hotmail or Yahoo, etc.
A member of our dedicated mortgage advice team in Sunderland will review your credit report, before they give you a call to discuss your mortgage plans in further detail.
As a mortgage broker in Sunderland with lots of experience across the industry, we have in-depth knowledge of lenders various criteria. Some of the lenders we work with are specialist lenders. Please take a look at our specialist mortgage advice in Sunderland page for more information on complex cases.
No matter if you are a first time buyer in Sunderland or looking to move home in Sunderland, we will use our knowledge and the information displayed in your credit report to work hard in finding the most appropriate mortgage deal for needs and personal circumstances.
You’ll find when applying for credit, the fewer addresses that you have tied to your name and accounts the better it will be for your credit score. Because of this, it will also be better for when you apply for a mortgage.
A lot of modern first time buyers in Sunderland and home movers in Sunderland feel like they are gaining a deeper understanding of how credit scores work and have a tendency to utilise their previous and current addresses to their advantage.
We find it’s most commonly seen in applicants who may have possibly moved out of their parents home into a new rented accommodation, but they think it is a great idea to leave their bank statements, credit card and electoral roll information registered at their previous address.
Whilst it might sound like a preferable route for some people to take, in all honesty this is a very flawed strategy. No matter if you think you’ll get away with it, any time you have moved home to a new address, there will be some record of it somewhere on your credit report.
This could be showing from a delivery address you have set up when you have ordered something online, to any online home or car insurance searches you have undertaken, as well as various other things that may be tied to an address.
We would say that without any shadow of a doubt, the best strategy for someone looking at their options for buying a home and taking out a mortgage, is to get all of your accounts, cards, accounts and electoral roll changed over to your new address.
Make sure all your addresses are up-to-date, accurate and consistent with one another.
When you update your address on your credit file and electoral roll, it is important that you double-check the date you moved in and the date that you moved out. If you make any mistakes with either of these dates, it can appear to the lender like you are living in two places at the same time.
Correcting your addresses and dates is a more open and honest way of trying to apply for a mortgage with a lender and will definitely work in your favour.
There are other helpful tips that first time buyers in Sunderland might wish to use alongside keeping your address up-to-date.
One of these includes maintaining your bank accounts well. Try to avoid unnecessary charges and limit any gambling if you can. This will show the mortgage lender that you are responsible and can manage your money well.
Another very popular and useful option is to use a gifted deposit. By utilising a gift from a family member or friend, you reduce some of the financial burden. If they gift you more than the minimum 5% deposit, you open yourself up to better rates and mortgage deals.
We always recommend obtaining an up-to-date credit report, so you can see where you stand financially. To learn more, please see out article on Obtaining an Up-to-Date Credit Report.
If you’ve been thinking about taking that step onto the property ladder, you may be wondering whether or not to use the assistance of a mortgage broker in Sunderland. We of course believe that our service is incredibly beneficial, especially for first time buyers in Sunderland.
Despite this, we felt it appropriate to give a balanced overview of the pros and cons of coming to a mortgage broker in Sunderland, compared to direct to a mortgage lender.
People tend to think that they are more likely to save money by not using the services of a mortgage broker. It can seem a lot more cost-effective to just do everything by yourself.
With that in mind, you may be one of those who prefer going directly to the high street mortgage lender. Another reason why people used to prefer going to the bank directly, was that people felt their bank manager knew their finances inside and out, although this changed when credit scoring was brought into the mix.
There is also truth to the claim that some lenders have additional exclusive mortgage products only for the people who directly obtain a mortgage. The main intention behind such ideas is to attract customers away from the services of a mortgage broker.
Ultimately, it is a good way for them to spread the business. The interesting part is that it is arguably just as enticing to speak with a mortgage broker in Sunderland as well. You’ll find that some mortgage offers can only be obtained through a mortgage broker.
From 2014 onward, lenders were no longer able to sell mortgages to anyone on a non-advised basis. At that time, it was a common occurrence for non-advisors to forcefully advise their bank customers, meaning they’ll have had no benefits from consumer protection. Speaking to a professional mortgage advisor in Sunderland will allow those benefits.
It is also important to remember that taking an appointment with a bank can sometimes take months to try and get yourself booked in for. A mortgage broker in Sunderland is often able to get you booked in within the same week, usually within that same day.
These kinds of issues is why the importance of mortgage brokers has grown and changed the public perception over time. More and more applicants rely on the mortgage brokers than before for help with their mortgage process.
There is now a lot more trust for the mortgage brokers in Sunderland, who are typically able to offer their mortgage advice services within the same day. Our dedicated team are always ready to help you, so get in touch and we will put you with an experienced mortgage advisor in Sunderland, as soon as possible.
You might be wondering what exactly causes some of the mortgage applications to be more difficult than many applicants expect them to be. Here are some of examples of this:
In years gone by, it was a lot easier for mortgage lenders to get ahead of their other competitors by laying out more enticing offers than the others have. Times have changed and it’s now more than the deals, it’s the criteria, that differentiates between the lenders.
To make everything easier for you, you should speak with an experienced mortgage broker in Sunderland and see if they have come across a similar situation in the past or not, as they may be able to utilise their knowledge from that to help you through yours.
After undertaking lots research and working very hard, a dedicated mortgage broker will hopefully be able to guide you through your journey and be able to recommend the most suitable mortgage for your personal circumstances.
Even if your mortgage application seems rather simple, it may still be beneficial to use the services of an experienced and knowledgeable mortgage broker, as we will work hard to get the best deal we can for you.
We have a professional and trusted mortgage advice team that will be able to provide guidance on other services such as solicitors. By getting in touch with us, you will also be updated you about the surveys and protection information that will be available to you.
A key feature of our service that we love to shout about, is how we’re more quicker and responsive compared to the other mortgage brokers.
One of the biggest reasons why customers tend to require help, is that everyone nowadays is very busy and needs someone to take the weight off their shoulders, doing the hard work for them.
Our dedicated and loyal mortgage advisors in Sunderland will do everything they can to make sure the process goes smoothly for you.
If you are ready to chat with a dedicated advisor about your mortgage plans, please get in touch with a mortgage broker in Sunderland. We are available from early until late, all throughout the week, to help you find the perfect mortgage deal.
The first question that you might ask is how many different types of mortgages are actually out there for customers?
You’ll find that there are a wide variety of different mortgages that are available to prospective home buyers. Each of these mortgages have their own unique advantages or disadvantages to taking them.
In this article, we will take a look at tracker mortgages and why they might potentially be the best mortgage option for you and your personal circumstances.
Always remember that a mortgage deal will only be as good the circumstances that it is matched up against.
To use this in an example, you may find yourself signed up onto a tracker mortgage, only to later decide that you would rather have fixed monthly mortgage payments. Unfortunately at this point, you are locked into a deal and cannot switch out of it.
As an open & honest mortgage broker in Sunderland, we will always highly suggest that you do some of your own research prior to this, or alternatively take mortgage advice in Sunderland.
A mortgage advisor in Sunderland will be able to make sure that you are at least on the most appropriate mortgage deal for your personal and financial circumstances.
So the question on your mind is likely, what actually is a tracker mortgage?
Well, if you are signed onto a contract with a tracker mortgage, your interest rate will run alongside the Bank of England’s base rate, with the lender typically adding a percentage on top of it.
Your lender will not be determining the rate that gets added, as it is an external rate that must be strictly followed.
For example, if the base rate of the Bank of England was around 1% and your mortgage lender adds on another 1%. You’re now running at a 2% interest rate.
The percentage will always be a little bit above the base rate set by the Bank of England.
A tracker mortgage works out really well for customers if the Bank of England’s rate is running a little low at the time of application.
Generally speaking the base rate will sit somewhere around 0-1%, though it will rise and drop down again throughout the course of the year.
Back during the unfortunate era that was the credit crunch in 2007/08, the mortgage market completely crashed, which caused the interest rate to skyrocket. The highest we ever saw it go up to was somewhere around 5%.
Bearing in mind that you’ll also have the percentage that your lender will add on top of this, and you could’ve added 6% interest onto your recurring mortgage payments.
On the flip side to this, during March 2020, the mortgage market went through another tough time, this time because of the impact of COVID-19. The opposite happened this time, as here the Bank of England’s rate decreased massively, dropping all the way down to 0.1%.
If you were on a tracker mortgage throughout this period of time, the chances are that you were sitting comfortably on a 1.1% interest rate.
As you might expect for something so good to be true, during this period, new customers couldn’t pick up a tracker mortgage. The reality is, lenders are in the business of making profit, not losing it.
At this moment of writing, we’re just heading towards the end of the Coronavirus, and it is admittedly still difficult to obtain a tracker mortgage.
Taking out a tracker mortgage has both pros and cons. These types of mortgage rely heavily on the economy, so if the market isn’t performing at it’s best and the Bank of England’s rate is high, a tracker mortgage probably isn’t your best option.
Again, by completely flipping the situation, if the economy is performing outstandingly well with the Bank of England’s rate at a lower amount, a tracker mortgage may be one of the better mortgage options for you to take.
No matter your mortgage scenario, there are such a wide array of different mortgages that are available to you in Sunderland, it’s just about working with a mortgage advisor in Sunderland to find you the right one.
Before you go ahead and dive into any deals, it is highly recommended for your own benefit to speak with a dedicated mortgage advisor in Sunderland about your possible mortgage options.
They will help you shop for different potential mortgage deals, working hard to find you the most competitive one for your personal circumstances.
If you are a first time buyer in Sunderland, our trusted and refined mortgage advice service will prove to be highly beneficial.
We have been working within the mortgage industry for a very long time, well over 20 years now and have a lot of industry knowledge on all the different types of mortgages, including those that benefit first time buyers the most.
This applies even if you are looking at your options to remortgage in Sunderland or if you are moving home in Sunderland, as we believe that you’ll genuinely benefit from using our invaluable mortgage advice service.
As an mortgage broker in Sunderland with a flood of knowledge and experience, we will work from beginning until end by your side, aiming to be a guiding light throughout your mortgage journey.
When you start looking at applying for a mortgage, usually we find that the large majority of applicants in relationships will jointly apply for a mortgage, rather than applying for a mortgage in one of the couples sole name.
With property prices always on the up and inflation pulling ahead of wage increases, lenders will generally prefer that first time buyers in Sunderland have two incomes to cover the mortgage if they have the option to do so, rather than both of them living there and only one person being responsible for the mortgage.
On the flip side, sometimes you might find that situations come up that may potentially make it viable for a sole name to apply for a mortgage. This can be down to anything from one of the applicants not wanting to have their name on the mortgage, to a financial issue coming up.
We also see in some cases, that one of the partners may not be in work in the moment, be that a choice or down to circumstance.
When we say financial issues, this could be something like a bankruptcy or county court judgement, factors that could affect the other applicant and also their overall chance of obtaining a mortgage. In these cases, it’s much better that there be no tied finances and that only one of the parties apply for the mortgage in their name.
Definitely make sure you’re careful, as one half of a couple getting into trouble financially can significantly harm the other half in their attempts to apply for credit, especially something as large as a mortgage loan.
For the most part, the rule of thinking to stick to is that the maximum borrowing capacity for a couple with only one applicant in employment will be lower than it would’ve been if the applicant who is employed had applied in their sole name.
This is something that happens on a regular basis across the mortgage world the mortgage world. Age is something that may also be factored into working out how much you can borrow. This may become prevalent in the event where maybe an applicant is over 50.
To use an example of how this would affect your mortgage; Let’s say you are over 50 and your partner is in their late 20’s, early 30’s. They have a well paying job and have plenty of time to pay off a mortgage before they hit your age. If they applied in their sole name, they may very well have access to a much higher mortgage amount.
The effects of stamp duty or something else relating to tax may be a potential reason as to why a couple may choose to only have one of them apply for the mortgage in their own name, rather than as a couple.
You’ll find that there are a fair amount of lenders with strict criteria regarding married mortgage applicants, as it is a mortgage that will be involving two people who are connected in a strong way. Whilst applying under a joint name gives security to the lender in the event of arrears, it can have its problems.
The reason for this is that if you happen to get divorced at any point down the line, it’s a difficult process trying to remove one of your names from the property. Our team of mortgage advisors in Sunderland can help with this, but you should definitely give plenty of thought before jumping in headfirst with your partner.
Luckily for those applying for homes, not all are as strict and prepare for the worse, so there will be options out there for you to choose from. We have specialist mortgage advisors in Sunderland, available every day of the week to help you find mortgage success.
We’re proud of the level of service we are able to provide home buyers and homeowners alike, so please do book yourself in for a free mortgage appointment and we’ll see how we can help!
If you unfortunately reach the point where you are faced with divorce or separation with your partner, it can be stressful. This can only be heightened when you factor in that you may have a joint mortgage together, as well as other finances.
In this handy mortgage guide, we have put together a short list of the frequently asked questions we receive when customers are in this situation and need to make mortgage arrangements.
No matter what you currently have going on, you will always need to keep on paying your mortgage, even if for the time being you are living somewhere else.
You agreed with your now ex-partner to take on equal responsibility of your joint mortgage. This means that until the mortgage is paid off, you are both equally liable for any debts, no matter what the situation is or where either of you are living.
If you do not pay your mortgage on time, you can cause some serious harm to yours and your ex-partners credit history. Likewise if your ex-partner fails to make payments, you will be affected.
You also run the risk of your home being repossessed if you do not maintain your monthly repayments on your mortgage or any other debts that you have secured on it.
As soon as your separation is official, you need to get in touch with your mortgage lender as soon as you possibly can and let them know, especially if meeting your monthly mortgage payments is going to be difficult.
If it is decided between the two of you that you should each move out of the property, sell up and pay off your remaining mortgage balance, any remaining equity will be distributed between you both.
It is entirely up to debate who gets what from that remaining equity.
If you move out and are looking at your options for purchasing a new home, under your sole name, our dedicated team of mortgage advisors in Sunderland are on hand to talk to you all throughout the week.
They will help to recommend the best mortgage deal to you, providing a service of fast & friendly mortgage advice in Sunderland.
If you separate but end the relationship on good terms, some decide to remain within the property and continue paying off the remaining mortgage balance.
This can prove to be a beneficial route to take, especially if you have a fixed rate mortgage term.
If you end up deciding that either you or your ex-partner will remain living in the property, whoever is currently residing there will have to take out a remortgage in Sunderland, in their own name.
As the sole owner of the property, if there is still an outstanding mortgage to pay off in both you and your ex-partners names, you will need to take out a Remortgage.
This new mortgage that you have will be in your sole name, which means the lender will have to reassess your affordability.
Depending on the circumstances, you may be able to have more than one mortgage. Lenders each have different credit scoring systems and when you apply for a second mortgage they will analyse various factors.
The main factor that they will look at is if you have any current financial commitments. Before you apply for a mortgage, you need to be certain that you can afford a second mortgage.
The reason for this is that if you do end up being declined for a second mortgage, it could have a large negative effect on your credit file.
You will be pleased to know that our team of mortgage advisors here at Sunderlandmoneyman are able to help you out with credit searches that will have less of a impact on your credit file.
Once we have put together the necessary information, we will then be able to give you an idea of the maximum mortgage amount you could borrow.
This will help you to gain a better understanding of your budget and what you can expect for your monthly mortgage payments, in addition to all of your current financial commitments.
Moving on from your current financial commitments can be quite a difficult process, and this is why having an expert Mortgage Advisor in Sunderland to help you through each step will be very beneficial to you and your case.
Moving home in Sunderland can be stressful, especially when factoring in divorce or separation. Get in touch with a dedicated Mortgage Advisor in Sunderland today, and we will look at how we are able to help you.
If you get divorced while the home that you both own jointly is in negative equity, it can be particularly difficult to sell the house and pay the remaining mortgage balance off.
You might have to divide the debt that is remaining between the two of you or come to an agreement with your current mortgage provider.
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Authorised and Regulated by the Financial Conduct Authority.
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Sunderlandmoneyman.com & Sunderlandmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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