Our Mortgage Broker Guide to getting a mortgage in Tamworth
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 |
Dissolve any links to old partners You should ensure that any links you have with old partners are removed – otherwise if they have a bad credit rating it will affect yours in turn.
You do this by contacting the relevant credit reference agency and asking for a notice of disassociation. | Variable Rate MortgageVariable rate mortgages are mortgage loans where the interest rate payable on the loan can go up or down because it moves along with an underlying index, most commonly the Bank of England base rate (although your lender may have the right to change the rate autonomously, without there being any change in the base rate).
Often, the initial interest rate charged on this kind of mortgage can be cheaper than that offered in a fixed rate mortgage, however this is subject to change. One plus of a variable rate mortgage is that you can leave it at any time without charge; in comparison, early repayment charges levied for leaving a fixed interest mortgage are very high. |
Tamworth is a large market town and borough in Staffordshire, England, 14 miles north-east of Birmingham. Historically, there is considerable evidence of Roman settlement in the area and it used to be the capital of the old county/division of Mercia.
The town grew rapidly in the late Industrial Revolution period because of the coal fields which were available nearby.
Tamworth has six designated local nature reserves including Hodge Lane (Armington) and Tameside among others. Landmarks and attractions include Statfold Barn Railway, St Editha's Church, Tamworth Castle, Daytona Tamworth Go-Karting, SnowDome (indoor ski slope and ice rink) and an Odeon cinema.