Specialist Mortgage Broker in Newcastle

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If your application has been declined, our team may be able to help!

You might find the mortgage journey is not always smooth sailing, it can come with its ups and downs.

 

 

The good news is that our team can utilise their 20 plus years of industry experience to help you conquer any hurdles that may come with getting a mortgage. Our job is to find you a mortgage deal that is fitting for your personal and financial situation.

 

 

Within your mortgage appointment, your dedicated Mortgage Advisor in Newcastle will look at your affordability, reliability and credit fie. In the case where we can’t offer you a lender’s high street products, our team can find you a better deal through a specialist lender.

 

 

Have you got a complex mortgage situation in Newcastle?

We will recommend you to take a specialist product out if we feel that it will be suit your financial situation. As well as this, it will increase our chances to be accepted. One drawback with having a specialist product is that the lender may request a larger deposit from you, this will be determined mainly by credit score.

 

 

A benefit of using the services of a Mortgage Broker in Newcastle like ourselves is that we have access to a large panel of lenders including ones who offer specialist products. From this, we can look through these to find the right product for you. Over the years, we have helped customers with bad credit to get a mortgage that is fitting for their circumstances. Getting declined by a high street lender could be down to a number of reasons and taking out a specialist product may be the best solution for you.

 

 

In the case where you have been declined by a bank or building society, our team would advise you to stop applying. It can harm your credit score the more times you apply and get declined.

 

 

Take advantage of the free mortgage appointment we offer to customers by booking online and we will connect you with a specialist Mortgage Advisor in Newcastle.

How does it work?Get a quote nowMeet your advisor

We search 1000s of mortgage deals across a large number of lenders, including:

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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.

Shared ownership

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.

Professional mortgages

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.

Offset mortgages

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.

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Common mortgage
questions

Your free mortgage consultation in Newcastle will last approximately about one hour. We will then recommend a mortgage for you, where you have no obligation for you to proceed and then it is your choice whether or not you wish to proceed with the mortgage.

As your Mortgage broker in Newcastle, we will carry out a Fact Find with you to establish your personal & financial needs before we recommend the most suitable mortgage for your circumstances. A credit check will then be required for you to obtain an Agreement in Principle. Once you have provided all the relevant documentation and a valuation of the property has been undertaken, you can then be issued a formal mortgage offer.

To avoid possible disappointment, we would highly suggest that you obtain an Agreement in Principle before you begin viewing a potential new home in Newcastle. At the very latest you should try to obtain one prior to making any offers to help with your bargaining position.

The standard for how long an Agreement in Principle will last is between 30 and 90 days, depending on the lender used. If your Agreement in Principle expires it can be easily refreshed with the help of your advisor.

You may have the option to get a second mortgage on your home in Newcastle for something like debt consolidation or home improvements. It may also be possible for you to take out a mortgage on a second property if you’re looking to potentially use it for yourself, a family member, a holiday home or a Buy-to-Let. If you require the help of a Specialist Mortgage Advisor in Newcastle, we are more than happy to have a chat about your options for a second mortgage.

The minimum deposit that will be required when purchasing a house in Newcastle with High Street Lenders is usually 5%. This, however, can be higher if you have had prior credit issues.

If you have had credit problems you may still have some options to get a mortgage but this require extra steps, such as being asked to put down a higher deposit than usual, potentially 15% of the property purchase price. If you are having difficulty in trying to obtain a mortgage because of past credit problems, please feel free to get in touch with your Mortgage Broker in Newcastle and we will see how we are able to help!

Once you have submitted at least one year’s accounts, you will be able to begin your mortgage process in Newcastle. Most lenders will use a sum of salary plus dividend to calculate the maximum mortgage, whereas others are known to use your net profit.

You’ll find that the lenders will usually want to see three payslips from an employee to prove their income and the latest 2 years’ accounts for Self-Employed applicants. You will also need to provide the lender with proof of ID, address and 3 months’ bank statements before they will accept you for a mortgage in Newcastle.

Our free consultation will usually last around an hour or so. Our advisors are able to turn round an agreement in principle within 24 hours of your appointment. A formal mortgage offer will on average take about three weeks. Before you know it you will have your mortgage secured in Newcastle.

We make it so easy!
Our 4 step process

Step 1

A telephone call where we can take some initial details and find out about your plan of action.

Step 2

Enjoy finding a property in Newcastle!

Step 3

Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.

Step 4

Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.

A telephone call where we can take some initial details and find out about your plan of action.

Enjoy finding a property!

Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.

Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.

Handy quick links

Newcastlemoneyman.com & Newcastlemoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk

The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
Should you have cause to complain and you are not satisfied with our response to your complaint, you may be able to refer it
to the Financial Ombudsman Service, which can be contacted as follows

The Financial Ombudsman Service, Exchange Tower, London, E14 9SR
www.financial-ombudsman.org.uk

© 2022 Newcastlemoneyman

Newcastlemoneyman – Clavering House, 1 Clavering Place, Newcastle Upon Tyne, NE1 3NG.

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