MORTGAGE BROKERS NEAR ME
Frequently Asked Questions
How much can I borrow?
The amount you can borrow will depend on several factors. These include; your income, the term of the mortgage, the loan to value ratio, any other commitments you have, and other regular outgoings.
How can I get the best mortgage deal?
Use a Broker who has access to a whole market panel and the knowledge to find you the best deal based on your circumstances. The lowest rate is not always the best deal
At MBNM we have access to the whole market, lenders you've heard and never heard of.
I have bad credit; can I still get a mortgage?
A bad credit rating doesn’t automatically mean you can’t get a mortgage, but it may reduce the number of lenders prepared to give you a mortgage. Our highly experienced, knowledgeable team will be able to provide you with the best mortgage advice
What deposit is required?
Typically 5% as a minimum is required. However, there is a lender which offers 0% deposit. Eligibility for both of these will depend of multiple factors. Our team will be able to work out which deposit size is required for you to buy
I am a first time buyer, where do i start?
Pick up the phone to one of our mortgage brokers. This first call has no charge and will last 5-15 minutes explaining how the process works and next steps
What other costs do I need to consider when buying?
- Stamp Duty – HMRC’s website will provide up-to-date information on current stamp duty rates.
- Legal fees – vary depending on the solicitor/legal company you use, but they typically range between £1,500 - £2,500
- Valuation fee – generally, mortgage lenders will conduct their valuation of your chosen home free of charge. However, some lenders still charge for this service.
- RICS Survey - this is optional
- Moving costs – this will vary depending on whether you hire a van and move yourself or if you hire a company to move your possessions. However, on average, to move a 3-bedroom house will cost between £1,200 and £1,500