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Mortgage Broker Tip 1 | Mortgage Broker Tip 2 |
Don't take up more than half of the credit available to youAs a general rule, you should not take up more than half the credit available to you on, say, a credit card because it will negatively impact your credit score. When you take up more than 50% of the credit offered to you, lenders start to view you as overextended and therefore more likely to default on a debt repayment or to make a payment late in future. They therefore downgrade your credit score accordingly, making any future potential borrowing more expensive or worse, any future applications for credit less likely to be successful. | Help to Buy Mortgage A Help to Buy mortgage is required to cover the rest of the purchase price of a New Build you're looking to buy within the scheme which involves you having to produce a minimum 5% deposit and for which the Government provides an equity loan (repayable) of up to 20% (up to 40% for London Help to Buy) of the purchase price of the property. The Help to Buy mortgage you require is therefore likely to be for a maximum loan to value (LTV) of 75% (55% for London Help to Buy) of the purchase price of the property. This is a lower LTV ratio than for standard mortgages, leaving you less exposed. Click to find out more about Help to Buy Mortgages |
| Average property price in Ely | £279,322 |
| % Change compared to last year | 8% |
| Population of Ely | 20,256 (2011) |
Our mortgage broker has access to the whole of the market as our home loan brokers aren't tied to any particular mortgage providers.
Mortgage Brokers Ely offering free first consultation (terms apply).
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
You'll have access to the whole of the market as our mortgage brokers aren't tied to any one mortgage company.
