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Mortgage Broker Tip 1 |
Mortgage BrokerTip 2 |
Cancel out old addresses and accounts from your fileOld addresses – and accounts linked to old addresses – can play havoc with a mortgage application because of problems with ID checks. You should ensure that old accounts are properly closed and that active accounts are linked to your present address. |
Flexible Family MortgageFlexible family mortgages are designed such that family members can provide security for a mortgage for a first time buyer applicant. Typically, a first time buyer might themselves have to provide a deposit of 5% of the selling price of the house they wish to buy and a family member puts a sum equating to 20% of the value of the home into an interest-bearing savings account which stands as security that the first time buyer will make the correct repayments. Another option is the associate putting up a percentage of their own house as security for the loan and another is the associate placing savings into an account where the interest is offset against the first time buyer's mortgage interest, making repayments cheaper. The mortgage offered might involve any of these methods or some combination of all three. As can be gleaned, the risks for the associate depend on the method adopted. They stand, for example, to lose a percentage of their house or the savings in an account set up as security. |
Average property price in Preston | £166,512 |
% Change compared to last year | 0% |
Population of Preston | 122,719 (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 Preston 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.