Help With Mortgage
First Time Buyers & Home Mover Mortgages
Our mortgage customers obtain some of the lowest rates available for their circumstances from a wide variety of flexible mortgage loans, at up to 95% LTV. Our mortgage lender plans do not just offer mortgages to those with a high credit score or perfect credit rating, some of our clients are able to move home, buy their first home or remortgage their property even with poor credit or a low credit score due to defaults, credit arrears or even county court judgements. Our UK based and owned mortgage business offers a fast, confidential and friendly service, with no obligation to proceed and all quotes absolutely free.
You can choose us for a purchase or home mover mortgage, butwe also do refinance loans, home equity loans, and 2nd mortgages. So whatever your reason for seeking a mortgage find out the facts and figures for your scenario by calling free phone 0800 977 4701 or complete our short no credit check on line enquiry form and our team will get cracking on your mortgage loan enquiry.
Even if you have failed to get a mortgage / homeowner loan elsewhere and have been unlucky enough to have incurred some bad credit, it may well be worth trying us, as we have succeeded when others have said they cannot help.
Making moving smooth and straightforward.
Help to move takes pride in being honest with each potential home buyer. An important factor in shopping for a mortgage is the service you are going to receive from your mortgage provider. We will take the time to explain all of the available mortgage programs to you and compare the different mortgage plans available from the numerous lenders on our mortgage panel.We work with multiple large mortgage companies and some specialist lenders to help you get the best rates for your circumstances from our panel.
We have plenty of experience in providing mortgage services and advice to credit impaired borrowers. We are willing to spend the time to recommend the right mortgage loan for you and will stick by your side throughout the process until your mortgage completes. If you want to get the most out of the competitive potential of today's UK mortgage market, go with the company whose strength is its experience.
Help To Move deals with many different lenders with a wide range of fixed, tracker and low start mortgage deals. out of which we have selected the best of the best. Our company is dedicated to help simplify your mortgage options choice in a complex world. We will do our utmost to find you the mortgage you need, to make your dream home a reality.
Understanding The Mortgage Application Process.
Buying a home may be the most exciting, yet bewildering and stressful loan transaction you ever undertake. Even if you have done it many times you can still find the process complicated and intimidating, particularly when it comes to getting a mortgage loan. Countless complex documents, unfamiliar jargon and uncertainty serve to bring a little stress to the joy of buying your first or next property. As soon as the sale contract is agreed, obtaining the mortgage for the purchase becomes paramount for all but a very few buyers. If you understand the steps required to qualify for a mortgage loan, however, much of the stress can be avoided.
One you have found a home you want to move into to, you will need to start sourcing a mortgage. Help To Move can help you find a mortgage that meets your needs and requirements. Your adviser will explain the types of mortgages available to you, the interest rates and fees for each type and the criteria. Information will be collected from you in the form of a fact find to enable us to recommend a suitable mortgage from our lender panel. Yourmortgage adviser will fill out the chosen lender / lenders forms to hopefully get you a positive ” decision in principal”. .
You will be sent a mortgage illustration by out team, detailing the interest rates, repayments and the fees associated with your mortgage. The total cost of the mortgage and scenarios of what can happen to payments in the event of interest changes will also be detailed. The interest rate affects the amount of the monthly payment.
When discussing the terms of the loan, make sure you understand how and when the rate and fees on the loan are going to be set. Most lenders will quote a rate and fee at the time the application is taken and then will guarantee the mortgage quote for a specified length of time, this can be a few weeks of 3 months or so. There may be caveats if there is a change in the Bank of England`s base rate.
Completing Your Mortgage Application Form.
A lender mortgage application form will come out to you with some components often pre - filled. The form asks for information on the property you are buying, terms of the home purchase contract and the employment and financial history of all loan applicants, including your spouse and/or other co-borrowers. It is very important to make sure that it is complete and accurate, when using help to move you will have access to a qualified mortgage adviser and our processing team who will be happy to answer any questions you may have on the documents.
The following is a summary of the major kinds of information required on themortgage loan application, the documents that may be needed and the questions that you should be prepared to answer.
Details of purchase contract and the property.
Because the home is security for their loan, the mortgage lender will have a valuation done on the property, and you need to have the following information available:
A complete copy of the sales contract, including any addendum's, signed by all parties, showing the full names of the sellers and buyers as they will appear on the new deed, the amount of deposit and who is responsible for completion costs, legal fees, etc.
If the house is to be built, or is still under construction, a set of plans and specifications.
The complete mailing address of the property, its age and its full legal description.
Name, address and telephone number of the real estate agent and/or the seller of the property who will assist the appraiser in obtaining access to the property.
Details of your solicitor; who will be handling disbursements of monies and changes of title / registering of charges etc. Some lenders offer free legal and or valuation, your mortgage adviser will discuss these options with you if they are available.
Personal information needed for your adviser and the lender.
When you talk to an adviser they need to have enough information to place you on the right mortgage. The mortgage adviser will need the information from you and your spouse (or other co-borrowers if getting a joint mortgage), age, your marital status, number and ages of dependents and your current address, email and telephone numbers. If you have lived at your current address less than four years, be prepared to provide an address history. You will also be asked to detail your current housing expenses, including rent or mortgage payments, council tax and insurance.
Employer details and sources of income.
Your ability to make the repayments on the mortgage and to afford the costs associated with owning a home are a key considerations in the lender's loan approval process and should be your primary concern. Required information includes:
Around two years employment history with employer's name and address, your job title or position, length of time on the job, salary, bonuses, commissions and average overtime pay. To prove your income, recent pay slips going back 3 months if paid monthly or around 8 weeks if weekly.
If you are self-employed, full tax returns / SA302`s for the last 2 years, plus a profit and loss statement for the current year to date.
An explanation if there are gaps in your employment record, because of circumstances such as illness or layoffs, or for any other reason. You will also probably need to supply an explanation for any adverse credit such as defaults, mortgage arrears or county court judgements. If you are in a debt management plan lenders will probably want a reference to evidence you are keeping ot the agreement.
If you are relying on income from other sources, such as rental property, social security or disability living allowance (DLA) payments, child support, etc., you must provide adequate proof of the source.
Bank account and savings.
Details of all bank accounts, both checking and savings, with the name and address of the institution, name(s) on the accounts, account numbers and current account balances.Most recent bank statements for at least two months. You will also demonstrate where your deposit is coming from. If you have a gifted deposit then details of the gift provider and how much they are giving you will be needed.
You will be asked to itemise all of your current bills, loans and other debts, including current balances and monthly payments. Debts include car loans, credit cards such as Visa, Mastercard and other retail store accounts, finance company, bank and credit union loans and existing mortgages, including home secured loans / second mortgages. You should be able to give the account or loan number, the monthly payment, the number of payments remaining and the outstanding balance. If you are clearing them through the mortgage process this needs to be identified to the lender to avoid the credit being used for income deductions. Your mortgage adviser will go through this with you.
The information you provide on the loan application will later be verified by a credit search carried out by the lender. Like employment and deposit information, differences between your figures and those on the credit report will raise questions and may delay the approval of your mortgage or even cause the lender to decline the case. So be honest and accurate.
If you have been through bankruptcy, are in an IVA or have had possession proceedings within the past seven years, be prepared to give full details and copies of applicable documents regarding them. Most (but not all) lenders will not consider clients in these circumstances. So tell your adviser early on so they can look at the right lenders for you.
You will also be asked to explain the details if you are obligated to pay child support or divorcee maintenance. Such obligations are treated like debt payments by most lenders and will be part of the income and expenditure calculations.
After the mortgage application - what happens next?
After the mortgage lenders application is returned, it will be checked and passed to the lender's processing department if all is well. The mortgage underwriter will verify all is in line and then instruct valuations, legal work and so forth. The time it takes to get these carried out and any additional items requested from you will affect processing times.
When all is well and the lender is happy to advance the monies you will receive a mortgage offer. This is a major step forward and usually all will go through from here as the lender has now committed to lending you the money based on the information you have provided and that your circumstances have not dramatically changed since you applied. This will include confirmation of key apsects of the agreed mortgage loan, such as the representative rate including associated costs (known as the APRC), the initial mortgage rate and payments and how long the rate will last for. The reversionary rate for the mortgage lender “at that time”, bear in mind this could be different later on down the line. Exit fees, such as early repayment charges and legal / administration fees for when you leave this mortgage lender.
Be prepared and reply quickly to reduce delays and stress.
Keep in mind that the mortgage provider wants to agree the mortgage. Mortgage underwriters are looking for ways to approve loans, not reject them. If you have come to the mortgage process fully prepared and provide requested documentation in a timely manner it will really help deal to ensure swift completion of your mortgage / remortgage loan.