Our Mortgage Broker Guide to getting a mortgage in Cambridge
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 |
Lower your credit utilisation ratioThe credit utilisation ratio is how much credit you've taken up as a portion of how much credit you've been offered. Your credit score will generally rise the lower this ratio is. As a general rule, you should always keep the ratio below 50% overall and considerably lower if possible. If you have more than one credit card you should also be aware of the utilisation ratio overall and per card, because credit reference agencies take all the measure into account. |
Capped Rate MortgageCapped rate mortgages are variable rate mortgages with an agreed cap on how high the rate – and therefore your repayments – can rise. The rate can fall, meaning your payments become cheaper, and cannot rise above a certain agreed level, making it easy for you to budget and more predictable. You should be very clear about whether you can afford to make the repayments at the level of the cap, which might be set quite high and the interest rates offered may be less competitive than for other variable and fixed rate mortgages. Capped rate mortgages may also be for a particular fixed time period and if they are, you may have to pay a large sum if you choose to leave early. |
Cambridge is a world-famous collegiate university city in Cambridgeshire, 50 miles north of London. The oldest college in Cambridge is Peterhouse. Attractions are many; just a few include the wonderful Cambridge University Botanic Gardens, Anglesey Abbey (Jacobean-style house and working watermill) and of course, the Backs - a strip of reclaimed land along the back of the riverside colleges which provides stunning views year-round. You can of course go punting on the River Cam as well!
CB2 1NW
Property Price Stats for Cambridge
| Average property price in Cambridge | £481,527 |
| % Change compared to last year | 14% |
| Population of Cambridge | 123,900 (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 Cambridge - Recently Completed
- 15 Granta Leys, Cambridge, CB21 4YT
- 29 Wheat Croft, Cambridge, CB21 4YR
- 3 Cockburn Street, Cambridge, Cambridgeshire, CB1 3NB
- Hills Rd, Cambridge CB2 1NW
- 6 Sydenham Terrace, Halifax Road, Cambridge, Cambridgeshire, CB4 3PZ
Local High Street Banks in Cambridge
Mortgage Broker in and around Cambridge
Our Cambridge mortgage broker can help you with your mortgage app;lication locally or in any of the surrounding areas including Comberton, Fen Ditton, Milton, Dry Drayton, Great Shelton, Ely and Fulbourn.
Which banks are local to you?
- Metro Bank Plc - 1 Christ's Ln, Cambridge CB2 3BZ
- Lloyds Bank Plc - 90A Mill Rd, Cambridge CB1 2BE
- Barclays Bank Plc - 9-11 St Andrew's St, Cambridge CB2 3AA
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 Cambridge
Mortgage Brokers Cambridge 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.
Cambridge Mortgage Broker Insider Tips
The trick is to order your property searches as soon as you instruct.
Searches can take some time to get back, namely the searches from the local authority. So you may find yourself all ready to exchange but not able to proceed because you are waiting for your searches to get back.
Being organised and booking your searches early can mean you get the essential information you need back to you and your solicitor as early as possible.
Thereby you can make a fully informed, good decision about whether to proceed with your purchase in Cambridge or not.
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.