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:
Property down valuation
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.
Divorce & separation
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.
Single name mortgage for married applicants
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.
Second home mortgages
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.
Holiday home/let mortgages
If you are buying a holiday home, you might want to consider whether you’re going to let I out or not. Renting it out at time where you’re not living in the property could make you soe additional money.
Get in touch with our team if you are looking to purchase a holiday home.
New build mortgages
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.
Non-standard construction properties
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.
Multiple applicant/house of multiple ownership mortgages
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.
Mortgage past retirement date/lifetime mortgages
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.
Newcastlemoneyman – Specialist Mortgage Advice in Newcastle
With a vast panel of lenders available to us, we can help you as a reputable Mortgage Broker in Newcastle with many of the lenders having unique lending criteria. We could help you find a product that is suitable for your situation.
Using their expert knowledge and experience, our Mortgage Advisors in Newcastle can recommend the best mortgage product for the situation.
If you are concerned about your credit score, it’s best to look at getting an up-to-date copy of your credit report. This will be helpful when it comes to your free initial mortgage appointment because you can have a better idea of your situation and see if we can help.
We Work For You
Customers are at the heart of Newcastlemoneyman. Our goal is to support you through the process and leave you feeling happy with your mortgage deal. We strive in providing open and honest Mortgage Advice in Newcastle and provide a helping hand throughout the process.
Contact our team and book yourself in for your free initial mortgage appointment with a friendly Mortgage Advisor in Newcastle.