Our Mortgage Broker Guide to getting a mortgage in Banbury
The mortgage application process has 4 stages regardless of which mortgage lender you use:
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1
Approval/Decision in Principal (AIP/DIP)
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2
Mortgage in Principal (MIP)
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3
Mortgage Valuation
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4
Mortgage Offer
Read about the full mortgage process here - What is the mortgage process?
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Mortgage Broker Tip 1 |
Mortgage BrokerTip 2 |
Pay for insurance upfront rather than via monthly instalments if possibleIf you opt to pay off insurance premiums using monthly instalments then a hard search is carried out which negatively affects your credit score. So if you can, pay off your insurance in one payment; it won't affect your credit score negatively and will work out cheaper in the longer term. |
Discounted Variable Rate MortgageA type of variable rate mortgage, these are based on a fixed percentage discount from a lender's standard variable rate (SVR), which is normally itself linked to the Bank of England's prevailing lending rate. These are often subject to a fixed term, perhaps 1 or 2 years and if the term is fixed, you can only leave if you pay a – normally expensive – repayment charge. Like other variable rate mortgages, you cannot guarantee that your monthly repayment figure won't change – and this can be for the worse – meaning that you should always have enough finance in reserve for the eventuality. |
Banbury is a scenic market town on the River Cherwell in Oxfordshire County, 64 miles northwest of London. Landmarks and attractions include Banbury Cross, Banbury Museum and Tooley's Boatyard. It is also home to the People's Park open space.
OX16 9HW
Property Price Stats for Banbury
| Average property price in Banbury | £213,743 |
| % Change compared to last year | 8% |
| Population of Banbury | 46,853 (2011) |
The property price data is sourced from ![]()
the Land Registry's UK House Price Index and you can view up to date property prices by clicking - Land Registry House Price Index >>
Mortgage Broker Banbury - Recently Completed
- Horton View, Banbury OX16 9HW
- 95 Chatsworth Drive, Banbury OX16 9YJ
- 12 Middleton Rd, Banbury OX16 3QH
- 11 Ruscote Ave, Banbury OX16 1PH
- 31 Bulls Ln, King's Sutton, Banbury OX17 3RA
Local High Street Banks in Banbury
Mortgage Broker in and around Banbury
Our Banbury mortgage broker can help you with your mortgage app;lication locally or in any of the surrounding areas including Adderbury, Shennington, Chipping Norton, Brackley, Cropredy, Coombe Bisset and Bloxham.
Which banks are local to you?
- Yorkshire Bank - 66 High St, Banbury OX16 5JJ
- Barclays - 32 Bridge St, Banbury OX16 5PN
- Lloyds - 12 High St, Banbury OX16 5EF
Access to the whole of the mortgage market
Appointments available today
Best first time buyer mortgage brokers
Information about Mortgages
Watch our video to find out how to organise your mortgage and funding for your purchase.
Click to access our online mortgage payment/repayment calculator (UK).
Whole Market Access
Our mortgage broker has access to the whole of the market as our home loan brokers aren't tied to any particular mortgage providers.
FREE mortgage consultations for Banbury
Mortgage Brokers Banbury offering free first consultation (terms apply).
Fast mortgage appointments
With no need for face to face meetings you'll be called on the same day by one of our mortgage specialist brokers to discuss your circumstances and can support complex applications for Help to Buy, Right to Buy and Shared Ownership mortgages
Impartial Mortgage Advice
You'll have access to the whole of the market as our mortgage brokers aren't tied to any one mortgage company.
Banbury Mortgage Broker Insider Tips
If your home purchase in Banbury is being financed with the help of family and friends, making sure your solicitor has all of the information in good time can speed up the conveyancing process.
Your solicitor will need proof of funds, ID and relevant documentation where there is a loan or a gift. Without these documents, you may not be able to exchange until your solicitor has them in his hands.
Even then, a mortgage lender may be unwilling to lend where there is an unregistered interest, i.e. the financial interest of this third party, over the property.
As things can get so complicated, it is important to get things sorted out from the outset so your solicitor can get working on it as soon as possible.
FREE Online Conveyancing Process for Buyers
Includes online checklists, videos, downloads and tips - plus it is completely free to use from start to finish and saves your progress along the way.
Copyright 2014-20. All Rights Reserved.
SAM Conveyancing is a trading name of Share a Mortgage Ltd registration No. 08798475. We are an Introducer Approved Representative with the Financial Conduct Authority registration No. 618350. SAM Conveyancing complies with the Solicitors' Code of Conduct 2011 published by the Solicitors Regulation Authority (SRA). Your home may be repossessed if you do not keep up repayments on your mortgage.