Finding Competitive Solutions for those more difficult to place and non standard mortgages
As banks and building societies have become significantly more cautious about lending it can often be the case that it is difficult to obtain a mortgage for your new home. Finding non standard mortgages can prove even trickier.
Whilst these issues may seem unapproachable, there are more ways around them than you think. With more than 100 years of mortgage experience between us we will help assess any issues you might have with your mortgage application before they become a problem and help you find a solution so that you can move forward in the process.
Declined applications can cost you money and more importantly affect your chances of getting a mortgage in the future so it is important that your application is submitted in the best light and to the right lender to give you the best chance possible of having it agreed.
Non standard mortgages
For those who are first time buyers, the self-employed, or those with irregular income or adverse credit getting a mortgage can certainly be more difficult. In fact there are many reasons why your application may not be approved, meaning you will need to look into non standard mortgages.
Lenders will examine your affordability when accessing whether to approve a mortgage. This means looking at your budget and the size of the mortgage you want and will check if this means you can comfortably cover the repayments as well as other bills and the cost of living.
If you are struggling with a low income or are unable to fulfill the entire deposit required, there are many government schemes to help, including Help to Buy, Right to Buy, and Shared Ownership.
At Mortgage Style not only can we advise you on these schemes but also have access to other deals from specific lenders with criteria that might better suit your specific circumstances.
“Credit-crunch biting and worried about self-employed status, my partner and I decided we needed some expert help when we came to look for a mortgage. Mortgage Style really couldn’t have done more to support us.”
Getting a Mortgage if you are self employed
Are you self-employed? At Mortgage Style we can provide many solutions for you whether it’s using specialist self-employed lenders or just making use of lesser known criteria with the main high Street lenders, we can help. We can ensure that the lender receives the relevant documents including accounts and tax returns which will make them feel more comfortable with your ability to meet your obligations for a self-employed mortgage.
Some of the areas that can be difficult for the self-employed where we can help are:
– Only have 1 years accounts
– Declining profits
– Use share of net profit rather than dividends
We also work in conjunction with a number of trusted and well respected lenders who specialise in providing mortgages to the self employed.
No matter what the issue that might be preventing you from getting a mortgage, give us a call on 01179 070 818.