FAQs

What is life insurance?

Life insurance is an insurance policy that could pay a lump sum to your family in the event of your death. This is often important for people who have a mortgage and a family. It can help ensure that in the event of your death, your family would be able to repay some or all of the mortgage, as they can no longer rely on your income.

What is critical illness cover?

Critical illness cover is an insurance policy that could pay out a lump sum if you were diagnosed with a critical illness. This lump sum could be used to pay off some or all of your mortgage or it may just be enough to cover your living costs for a period of time, while you take time off work to recover. Different policies provide different levels of cover and cover you for different critical illnesses, for this reason, it is a good idea to speak to a professional to ensure you are taking out a policy which is suitable for you.

What is income protection?

Income protection is an insurance policy which could pay you a specified amount each month if you are unable to work due to sickness or injury. The amount that would be paid out, and how long you would need to be off work before being entitled to a monthly pay out, will all depend on the policy you select. Your adviser will help you select a policy which is cost effective and will provide a comfortable amount of cover.

What does a mortgage advisor do?

A mortgage advisor helps you find and apply for the right mortgage for you. Which mortgage solution is right for you depends on your individual circumstances. That's why, it's a good idea to get in touch with us here so we can give you a call and get to know you. All mortgage lenders are different in terms of lending criteria. Some of the criteria where different lenders vary are employment status (employed, self-employed, zero hour contract, temporary or contract work etc), credit history, different types of income, different types of outgoings and many more. Because of the differences in criteria between lenders, some lenders may be prepared to lend more than others and of course, some have higher interest rates or more fees than others. It is your advisor's job to take all of these things into consideration when choosing a suitable solution for you.

I've been told I can't get a mortgage, should I still try?

Not all lenders have the same rules and criteria. If you have been told by your bank that they can't help you, another lender may still be able to assist you. If a mortgage advisor has been unable to help you, it is still worth getting in touch. Different mortgage brokers have access to different lenders. We use a wide range of lenders and we'd be happy to see if we can help. It will cost you nothing to find out!

I have bad credit, can I get a mortgage?

Mortgage lenders are all different in the way they assess your risk as a borrower. Some lenders are stricter than others when it comes to adverse credit history. Some lenders specialise in adverse lending and generally, they charge you a higher interest rate than the high street lenders. However, some high street lenders will also consider applicants with adverse credit, depending on the type, the amount and how long ago the adverse events took place. Whatever your credit history, we will be happy to see if we can help. Even if we can't find a suitable solution for you now, we will explain how to improve your chances in the future. Click here to get in touch and find out more.

I'm self-employed, can I get a mortgage?

Self-employed people can get mortgages too. But the rules are slightly different and vary between lenders. Send us a message here to find out more.

How much could I borrow on a mortgage?

Generally, lenders will lend up to between 4 and 5 x your annual salary. They will also take into consideration your costs of living. They may consider outgoings such as credit commitments, financial dependents, maintenance of ex spouse, and more. The amount of your outgoings can reduce the amount a lender would be willing to lend to you. Some lenders will also take into consideration other types of income. For example, benefits, maintenance or investment income. Different lenders use different calculations when assessing how much they would consider lending, that's why it might be a good idea to speak to an advisor who can check this for you and find the most suitable lender for you, based on your particular circumstances.

What do I need to make an offer on a property?

When you make an offer on a property through an estate agent, the estate agent will usually ask you if you are using a mortgage or purchasing with cash. If you are using a mortgage, they will generally ask if you have a decision in principle/agreement in principle (DIP/AIP). A decision in principle is a pre approval from a lender which tells you that they would consider you for a mortgage based on the information they have. You will usually obtain a decision in principle before submitting a full mortgage application. A decision in principle is not a guarantee. It is possible to be approved for a decision in principle and then not approved when you apply for the mortgage. There are many reasons this can happen. However, when you are getting professional advice, it is less likely, as the mortgage advisor will gather all of the necessary information from you before checking the lender criteria in advance of applying for the mortgage. Once you have a decision in principle or agreement in principle, you are in a position to make an offer for a property for the amount you have been approved for, plus the amount of cash you can put in yourself. If your offer is accepted, it's time to submit your full mortgage application. Click here to request your free decision in principle.

I'd like to know more, what do I need to do?

You simply need to register here for a free call and that's it. We will be in touch to explain the next steps. You don't need to prepare any documents or information for now.