Specialist Mortgage Advice in Newcastle

Instead of dealing with mortgage hurdles on your own, obtaining open and honest mortgage advice in Newcastle can be helpful if you are in a challenging mortgage situation.

Over time, we have helped thousands of customers through their specialist mortgage situation which has led them to get a mortgage product that fits their circumstances. Below we have listed the situations we have encountered when dealing with customers in specialist mortgage situations.

When your offer has been accepted on a property, however, your property survey shows that you are paying above what the property is worth, your lender may pull out of the deal. This means they will want to give more money than you need.

This process is called down valuation. This can be challenging and can stall your process if you don’t act quickly.

If you are going through a divorce or separation, your financial commitments with your ex-partner should be a top priority. Your mortgage may still be linked to your ex-partner, therefore, it may be wise to remove yours or your ex’s name from the mortgage.

Our team strive in providing you with a service that takes some weight off you during this challenging time.

In the circumstance where you are married but prefer to take out a mortgage in your name only, it will involve you showing that you could afford it.

This is because lenders need to see you are a responsible applicant who will keep up with their monthly mortgage payments.

The Shared Ownership Scheme is designed for buyers who are looking to take out a mortgage on a percentage of a property. The percentage can vary between 10-75%.

Further down the line, you may have the option to take 100% of the property if it’s something you are looking to do.

This type of mortgage only applies to applicants in particular professions. If you fit in one of these categories, get in touch to see what you can access.

When you are looking to take out a mortgage on another property, you will need to demonstrate that you can manage two sets of payments.

It may require you to take out a higher deposit during this purchase.

If you are buying a holiday home, you might want to consider whether you’re going to let it out or not. Renting it out at a time where you’re not living in the property could make you some additional money. Get in touch with our team if you are looking to purchase a holiday home.

New builds can be known to be more expensive, therefore, you may find it challenging to meet your deposit target. There are government schemes like the Help to Buy Equity Loan that can help you meet the deposit target.

Properties that aren’t made out of brick and mortar are known as ‘Non-standard’ construction properties. With these, you need to take out a specialist mortgage product.

Furthermore, buying a property like this may involve you getting a full structural survey carried out.

This type of mortgage usually attracts landlords. You will need to speak to mortgage specialist if you are looking to take an HMO mortgage out.

We have buy to let experts to help you with the process.

A lifetime mortgage can help those looking for a mortgage and are past retirement. It does mean you will receive lump sum of money but you may find it difficult to pay it off.

As well as this, we can provide advice to those looking at Equity and lifetime mortage advice. For more information, contact our team.

You can link your savings to the mortgage when you take out an offset mortgage. As well as this, you can usually get competitive interest rates.