Our Mortgage Broker Guide to getting a mortgage in Barnes
The mortgage application process has 4 stages regardless of which mortgage lender you use:
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Mortgage Broker Tip 1 | Mortgage Broker Tip 2 |
Remove old addresses/old accounts from your fileIf you have an account for, say, a mobile phone you don't use any more and it's linked to an old address, this can ruin a mortgage application due to ID checks.
You must make sure old accounts are closed or have an up-to-date address. | 95% mortgageAs they sound, 95% mortgages involve a lender granting you a loan equal to 95% of the full purchase price of a home to enable you to buy it. You might look at these if you are looking to buy a property but do not have sufficient savings for a standard-sized deposit of 10% of the asking price.
The downside is that you have to take out a larger mortgage, which is likely to be more expensive in terms of interest rate levied on the loan. Additionally, house prices need only fall 6% for you to find yourself in negative equity. |
Barnes is an affluent neighbourhood and suburb of Richmond upon Thames Borough in London, around 6 miles west south-west of the capital's centre and bordered by the River Thames to the north. It has many 18th and 19th century buildings. It is an area which the world famous annual varsity boatrace between Oxford and Cambridge on the River Thames passes through.
Landmarks include Bolan's Rock Shrine, which is the site of rock musician's fatal car crash, the Barnes Trail and Olympic Studios.