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 personally or even simply being rejected by the bank for not meeting their criteria.


An experienced and well-respected mortgage broker 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 is something we excel at.


Don’t be put off by complex criteria

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.


How does it work?Get a quote nowMeet your advisor

We search 1000s of mortgage deals across a large number of lenders, including:

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An In-Depth Look at Specialist Mortgage Scenarios

When a mortgage applicant is struggling to get through their mortgage and is having a hard time getting accepted by a lender, we will always be on hand to help them in any way that we can.


As a mortgage broker in Sunderland with a strong reputation for what we do, we have had spoken with many customers throughout our years of service, all of whom have had unique situations that they are on. We have put together a more in-depth look at some of these mortgage situations that we hear of:


Property Down Valuation

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

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

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

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

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

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

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

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

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

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

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

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

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.

In need of a Specialist Mortgage Advisor in Sunderland?

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.


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 Work For You

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.


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.

Reviews Stars5.00 Rating12 Reviews

Common mortgage

Your free initial mortgage consultation with a mortgage advisor in Sunderland will last round about one hour. They will then recommend a mortgage for you, wherein you have no obligation to proceed and you can decide whether or not that particular deal is something you’d like to go forward with.

As a trusted and well experienced mortgage broker in Sunderland, we will first carry out a Fact Find to establish your personal needs, before we begin searching and recommending the most suitable mortgage for you. A credit check will be required for an Agreement in Principle. A formal mortgage offer can be issued once you have provided all the relevant documentation and a valuation of the property has been undertaken.

To avoid any kind of disappointment with a property, we recommend you obtain an Agreement in Principle before you begin property viewings in Sunderland. We would say that at the very latest, you should obtain one before you start to make offers, in order to assist your bargaining position.

A standard Agreement in Principle typically lasts for around 30 to 90 days depending on the Lender. If your Agreement in Principle expires, you can get it easily refreshed.

You may have the option of getting a second mortgage on your home for things like debt consolidation or Home Improvements. This can also be possible if you’re wanting to use it for yourself, a family member, a holiday home or a Buy to Let.

The minimum deposit for purchasing a home in Sunderland with a mortgage lender is typically 5%. This figure can possibly be higher if you have had previous credit problems.

If you have had credit problems previously in life, you may still have a chance at obtaining a mortgage, but you may be required to put down a higher deposit than usual. This could be be 15% of the property purchase price.

Once you have submitted at least one year’s accounts to the lender, you may be eligible for a mortgage. Most Lenders will calculate the maximum mortgage with salary plus dividend, whereas others sometimes go off your net profit.

A lender will usually need three payslips for an employee to prove income and the latest 2 years’ accounts for an applicant who is self-employed. You will also need to provide them with proof of ID, address and 3 months’ bank statements.

Your free consultation with a mortgage advisor in Sunderland will typically lasts up to an hour or so. We have the ability to turn round an agreement in principle within 24 hours. A formal mortgage offer has been known to take roughly about three weeks on average.

We make it so easy!
Our 4 step process

Step 1

A telephone call where we can take some initial details and find out about your plan of action.

Step 2

Enjoy finding a property in Sunderland!

Step 3

Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.

Step 4

Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.

A telephone call where we can take some initial details and find out about your plan of action.

Enjoy finding a property!

Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.

Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.

Handy quick links

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

The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
Should you have cause to complain and you are not satisfied with our response to your complaint, you may be able to refer it
to the Financial Ombudsman Service, which can be contacted as follows

The Financial Ombudsman Service, Exchange Tower, London, E14 9SR

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Sunderlandmoneyman – Hope Street Xchange, 1-3 Hind Street, Sunderland, SR1 3QD

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