How much deposit do I need for Help to Buy?

You will need at least 5% deposit.

How much deposit do I need for a right to buy mortgage?

The discount provided to you by the council will typically be used by lenders as your deposit towards the property. In some cases though, lenders will require you to put down a deposit as well as the discount, especially if you’ve got a poor recent credit history. Our experienced team of mortgage advisors in Scunthorpe are able to answer your right to buy deposit queries.

How much deposit do I need for a buy to let?

Though the percentage may vary from anywhere between 20% to 40%, the minimum deposit for a buy-to-let mortgage tends to be 25% of the property value.

Why should I bother to remortgage?

If you are on your lenders SVR (Standard Variable Rate of Interest) you may have increased chances of saving money. Our team are able to compare the new products available against your current mortgage deal, in order to work out what your savings could possibly be. If you have any equity sitting in your property, a remortgage would allow you to release some of this money for things like home improvements.

Can I consolidate my debts?

You may find yourself with the option to take out a remortgage, with the intention of increasing the size of your mortgage to pay off any unsecured debts you may have. Please do not rush into this though as there are negatives to be weary of. We highly recommend that all homeowners always seek expert mortgage advice in Scunthorpe before consolidating debts!

How does the free remortgage consultation work?

Your initial free remortgage consultation in Scunthorpe will last for about 30 mins. Your designated mortgage advisor will then compare a new deal versus your current product and recommend the most appropriate one, with no obligation for you to proceed.

Are there fees involved in Remortgaging?

When you start the Remortgage process, you’ll be facing similar fees to when you took out your initial mortgage. Your dedicated mortgage advisor in Scunthorpe will run through all of the fees with you and take them into consideration when comparing the savings of the new deal versus your current mortgage.

How does the free initial mortgage consultation work?

Your free mortgage consultation in Scunthorpe with a dedicated advisor will last for approximately 30 mins. From that point, we will then recommend a mortgage for you, with no obligation to accept and proceed if you change your mind at any point.

How does the mortgage process work?

We will carry out a Fact Find to establish your individual circumstances and needs prior to recommending the most suitable mortgage. A credit check is something that will be required for an Agreement in Principle. Once you have given all the relevant documentation and a valuation of the property has been undertaken, a formal mortgage offer can then be issued to you.

When should I obtain an Agreement in Principle?

To avoid facing disappointment at a later stage, we recommend you obtain an Agreement in Principle before you begin any property viewings in Scunthorpe. At the very latest you should obtain one before you start making offers, as that will assist your bargaining position.