It is important to remember because you are applying via our brokerage it gives you access to many lenders. Some of these lenders are able to calculate borrowing limits using bigger multiples of your annual income. This can help obtain larger mortgages, if required.
- What’s the value of the property you are buying or remortgaging?
- What size deposit do you have?
- How old are you?
- How much would you like to borrow?
- How much do you earn?
- Do you have any additional credit commitments?
- Do you have any bad credit?
- Are you self-employed with limited accounts available?
- Can you afford to pay mortgage related fees upfront, like valuation fees or application fees?
- What rates are most suitable? (For example 2 year fixed, 3 year fixed, 5 year fixed, or a variable interest rate).
- Will the term of the mortgage be 10 years, 15 years, 20 years, 25 years, 30 years or another suitable term?
Fees related to buy-to-let mortgages and commercial loans tend to be much higher than homeowner mortgages.
Adding mortgage related fees to your mortgage balance increases the amount borrowed. Additional interest is applied to those fees which increases your monthly mortgage payment.