Mortgage Options
First Time Buyers
Buying your first home can be both exciting and nerve-racking but at times challenging. We understand this, which is why we have put together these helpful steps to help you understand what might be expected along the way.
Your home may be repossessed if you do not keep up repayments on your mortgage.
House Buying Process
To give you an indication on how much you can borrow you can use our “How much can I Borrow” calculator. Once you have this amount you should then get in contact with a mortgage broker who would give you a more accurate figure on how much you can borrow based on your income, expenditure, and circumstances
Once you know how much you can afford you should look to obtain an agreement in principle from a lender to make sure they will lend you the amount you need based on your affordability and credit.
Now you have your agreement in principle you are all set to view properties and make an offer.
Once you have found your property and you have had your offer accepted you need to get back in contact with your mortgage broker who will compare mortgage options and deals that are right for you. A broker has a much bigger choice of deals than a single bank or lender.
A conveyancing solicitor or conveyancer specialise in property.
Your mortgage broker will require certain documents such as ID, proof of address, payslips, bank statements, accounts, etc so it’s a good idea to have these ready.
Please note that the valuation mentioned above is a mortgage valuation for the purpose of the mortgage only and is to make sure the lender is happy to lend on the property. if you require a more in-depth valuation which goes through the condition of the property you will need to arrange this.
We are happy to discuss the various valuations available to you.
When the searches are obtained, your conveyancer may need to raise enquiries based on the information that’s come back and once all searches have been returned and enquires answered contracts will be drawn up
Once the valuation has been carried out and the case has been underwritten you will be given a mortgage offer. This means that the lender has agreed to lend you the funds based on you and the property.
Exchange of contract is the stage when you are legally binded to purchase the property.
You get your keys and move in.
Buying/Moving home
There are many different reasons people look to move home. You could be looking to upsize to get more space, downsizing once the children have flown the nest or even buying a second property. At ASH Mortgages we recognise that each case is individual and that is why we tailor your mortgage exactly to you.
We take the time to understand your individual needs and advise you the best way to achieve your dreams. Get in contact today and we will happily discuss your situation with you ensuring we fully understand your circumstances and tailor a step-by-step guide to get you there.
If you have an existing mortgage to help you get the best advice from us, we suggest you have the following details available:
Your existing mortgage balance
Your remaining mortgage term
Your mortgage interest rate
Repayment charge details if applicable
Don’t worry all of this information can be found on either your annual mortgage statement or initial mortgage offer.
Don’t have this information to hand? – Not a problem please still feel free to contact us and we will be happy to help.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Remortgage
If your current mortgage deal coming to an end, your mortgage rate is going up or you need some additional funds to carry out some home improvements amongst other things then contact us today.
We will look at the whole of the market for you to find you the best deal out there. We have access to deals that are not available on the high street and will endeavour to provide you with the best mortgage deal available.
You may have to pay an early repayment charge to your existing lender if you remortgage.
Buy To Let
Looking to invest in a property to rent out? Here at ASH Mortgages, we remove all the stress for you and ensure we advise the best possible solutions.
Whether you’re a first-time landlord, a seasoned investor, looking for a remortgage, inherited a property or anything in between we will look after you.
We understand there is a number of different reasons why people decided to go down this route.
Whether that’s to generate rental income or to increase capital growth we can support you.
At ASH Mortgages we will:
- Work out a plan with you based on your needs and future goals,
- Find you the best deals
- Recommend the best set up (whether in your sole name or Ltd Company)
- Decide the right deposit you will need based on the property
- Make you aware of the costs involved
Looking to pull out extra funds from your buy to let property or renew a deal?
We will compare the whole market to find the most suitable option for you and work out how much you can take out of your property.
Your property may be repossessed if you do not keep up repayments on your mortgage.
Not all Buy to Let Mortgages are regulated by The Financial Conduct Authority
