Specialist Mortgage Advice in Sunderland

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Obtaining a mortgage should always be fairly straightforward to approach. Ensure you have a good credit history, have the right documents, make sure you are able to afford and commit to a property. There's of course more to it, but being sensible and following guidance like that will generally put you in a good place to obtain a potential mortgage.

From time to time though, something may crop up that causes problems for budding home buyers, be it something personal or even simply being rejected by the bank for not meeting their criteria.

An experienced and well-respected mortgage broker in Sunderland like Sunderlandmoneyman is able to search through 1000s of mortgage products in order to try and find you the best we can. As mortgage advisors in Sunderland, providing specialist mortgage advice in Sunderland is something we excel at.

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Specialist Mortgage Advice in Sunderland

Our service may benefit you when looking for specialist mortgage advice in Sunderland.

As a mortgage broker in Sunderland with a strong reputation across the market, we have a large range of mortgage lenders on panel, some of which have very niche, specialist mortgage products on offer to customers, with the variances being in their mortgage lending criteria.

Our experienced and knowledgeable mortgage advisors will work hard, doing everything they can to help you, from the beginning of your journey, right the way through to completion. We'll do our best to support you even through unusual circumstances, hopefully resulting in mortgage success.

The goal of our dedicated mortgage advice team is a simple one; to offer all customers who get in touch the highest level of mortgage advice in Sunderland that we can, guiding you through each step and finding the best product for you that we can, tailored to your personal and financial position.

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FAQs for Specialist Mortgages in Sunderland

What is considered having bad credit for a mortgage in Sunderland?

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Your credit score is essentially an overview of your finances. The lowest number your credit score could be is 0 with the highest being 999. There are ways to improve your credit score and improve your finances, sometimes it just takes a bit of time to improve.

If you have bad credit, it still may be possible for you to get a mortgage, however, you may only be able to access specialist mortgage products.

Can I remove a CCJ from my credit file in Sunderland?

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Upon receiving a CCJ, you will get a month window where you will get the chance to pay off the CCJ. If you pay this off within the month, the CCJ can be removed from your credit file.

If you fail to make up your amount owed within this month, the CCJ will remain on your credit file. If you pay it off at any point after this month, the CCJ will remain on your file but be listed at "Settled". It will remain on your file for 6 years.

When should debt consolidation in Sunderland be considered?

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If you are struggling financially and you have a low credit score, then you might need to look at debt consolidation in London. Although debt consolidation should be taken with caution, you can remortgage to consolidate your debt into your mortgage. This can help you manage your finances on a monthly basis and help you pay off your debt over a longer period.

Our mortgage advisors in Sunderland will make sure that this is the right decision for you before you remortgage for debt consolidation. You could opt for the alternative and start a debt management plan (DPD) if you are really struggling. This may also help you improve your credit.

You should think carefully before securing other debts against your home. By adding your unsecured debt to your mortgage, which is secured on your home, you may endanger your home if you can't make the necessary repayments.

Although the total monthly cost of servicing your debt may have been reduced, the total repayment cost may still have increased because the duration of your mortgage is longer than it may have taken to repay the original debts.

Do you require a specialist mortgage advisor in Sunderland?

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On panel, we have 1000s of mortgage products from both high street and specialist lenders. Your specialist mortgage advisor in Sunderland will look for the perfect product for you and your personal and financial situation.

We have worked with many different types of mortgage applicants, many of those who have or have had bad credit problems. Our job is to look at your circumstances and work out what is the best option for you. We want the best for you, so we will try our hardest to find you a brilliant mortgage deal!

If you're worried about your credit score, you should get an up-to-date copy of your credit report to get an overview of your finances and how you look from a lender's point of view.

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Our Simple Mortgage Process

Free 30-Minute Mortgage Appointment

During your free mortgage appointment, you will get to discuss your current situation and what you are looking to achieve from your mortgage process.

We will talk through your income and expenses to work out the maximum amount you can borrow for a mortgage in Sunderland.

We Can Search 1000s of Mortgage Deals

We can search through 1000s of mortgages in order to find you the product most suitable for your situation.

We will also arrange a mortgage agreement in principle for you within 24 hours of your appointment to help you make offers on properties.

Submit Your Mortgage Application

If you are happy with your specialist mortgage product, now it is time to prepare your final mortgage application. Once you have submitted this, the next step is to wait for your offer to come back!

Your dedicated case manager will keep you up-to-date with the progress of your application throughout the process.

Protecting You and Your Mortgage

We want you and your family to be protected in the future, so we will help you take out the most relevant insurance alongside your mortgage.

We will also contact you when it is time to remortgage so that you can make sure that you are on the best rate available.

Reasons to Choose Us

We Work For You

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We will work hard to try and give you the best service possible, ensuring you're informed, that we're responsive and tailoring the service to your needs. It's our hope that in doing so, you come out smiling with the most opportune mortgage deal for your personal and financial standing.

Free Mortgage Appointment

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As a company that is trusted and experienced in providing expert, fast & friendly mortgage advice in Sunderland, we are here to help you through every step of your mortgage journey. Contact us today and make a date for your free initial mortgage appointment with a mortgage advisor in Sunderland.

Lending Criteria Knowledge

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We have a large amount of specialist mortgage lenders on panel, all with their own unique mortgage lending criteria. It is the job of our trusted mortgage advice team to utilise the knowledge and experience we have acquired over the years to recommend our customers the most appropriate deal based on your personal situation and the lending criteria you are matched up to.

Up-to-Date Credit Report

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If you have any concerns about your credit score, then it will be definitely worth your time getting yourself an up to date copy of your credit report. This works well when it comes to your free initial mortgage appointment, as it allows us to have a better idea of you as a person, what you're looking to achieve and the sort of recommendations we may be able to find for you.

We can help you with this if you are struggling to get hold of your credit report. Alternatively, you can use Check My File to obtain one online.

Malcolm and Amy Davidson - Mortgage Advice in Sunderland

We Search 1000s of Specialist Mortgages in Sunderland

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Common Specialist Mortgage Scenarios

Property Down Valuation

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If the bank has arranged for a surveyor to carry out a property survey on the home you're looking to purchase and you then find out that the offer you made and had accepted is more than the actual market value of the property in question, this is what is known as a Property Down Valuation.

Though it may still be possible to work with the agreed price, the chances are that your lender will remove themselves from the deal. If you have the ability to make up the difference between your offer and how much the property is actually worth, then you may still be in with a chance of finding mortgage success.

Divorce & Separation Mortgage Advice

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Perhaps times have gotten tough in your personal life and you are going through a divorce or separation. Making arrangements for the next step of your life can be difficult, but even more so if you have a mortgage together. You must sort this out as soon as possible, as it can become rather challenging the longer you leave it.

Remove a Person From a Mortgage

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Often linked in with the previous mortgage scenario (though not always the case), there may come a time when you are looking to remove your own name or your ex-partner's name from your mortgage. Depending on how stable each of you are financially, you may find that your options are limited. This is because your affordability is only based on a single income, rather than from a couple.

Single Name Mortgages for Married Applicants

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If you’re married and looking to obtain a mortgage on a home for you and your partner, generally speaking, mortgage lenders would prefer both applicants being named on the mortgage, though you may still be able to obtain a mortgage in only one name.

Shared Ownership

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The Shared Ownership Scheme is a very useful tool for allowing mortgage applicants to obtain a mortgage as a share, initially on only a percentage of the property. The percentage is usually somewhere between 25%-75%. Whoever owns the remaining share of the property, most likely to be the local authority, you will pay them back in a monthly rent alongside your mortgage repayments.

Professional Mortgages

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Professional mortgages are only accessible by very specific lines of work. It's an incredibly niche section of the mortgage market. Because of this, you should definitely contact a specialist like ourselves to learn more about these types of mortgages.

Second Home Mortgages

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If you are planning to take out a mortgage on more than one home, you will need to showcase your financial stability to the lender, proving that you can afford enough to cover the costs of two simultaneous mortgage payments. This is something we are able to help you prepare for.

Holiday Home/Let Mortgages

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Holiday lets operate in a similar to the way buy to lets do. The difference here is that you won't always have a tenant, meaning that at times (especially during off-seasons), you may be paying monthly costs on an empty property. Because of situations like this, lenders need to be confident that you can afford the costs of your mortgage payments at all times, whether someone is paying rent or not.

New Build Mortgages

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New builds can often be a little more costly to invest in than properties that are slightly older. If you are finding it difficult to save up for your primary deposit, you could find a helping hand in using the government's Help to Buy Equity Loan Scheme to purchase yourself a home.

Non-Standard Construction Property Mortgages

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A 'non-standard' property is the name given to properties that are not built from typical building materials like bricks or mortar. For you to take out a mortgage on a non-standard property, you will definitely need a specialist mortgage product. It is also greatly recommended that you get a full structural property survey if you're wanting to buy a non-standard property.

Multiple Applicant/House of Multiple Occupation Mortgages

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HMO properties are pretty much just buy to lets with 4-6 tenants. You may typically see these being used for student accommodation. HMOs can be challenging to work with, so we suggest that you obtain specialist buy to let mortgage advice in Sunderland before you jump in headfirst with a mortgage like this.

Mortgages Past Retirement Date/Lifetime Mortgages

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If you have built up an amount of equity in your property, you may be able to release some of this and turn it into cash, through taking out a lifetime mortgage. We would suggest speaking to a specialist mortgage advisor in Sunderland if you are over the age of 55 and this is what you'd like to do.

Offset Mortgages

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Offset mortgages combines a savings account with your mortgage. This mortgage type could potentially be a good method of helping you access competitive mortgage products and interest rates.

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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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