It`s also likely that you`ll be asked to provide at least three months of bank statements so your lender can evaluate your income and expenses to prove that you`re not spending more than you earn and that you have enough money to cover your new mortgage payments. We`re glad you decided on your mortgage right away, but we know life doesn`t stop for long, so if you`re thinking of making a change, we have friendly mortgage experts who will be happy to explain your options. Learn more about how to apply for a mortgage and how we can help. What happens when – and why. ? Whether you`re a first-time buyer, reprogramming your current home, moving to a new location, or being an existing customer, we have a handy buying guide for you. Go to our “Find the mortgage for you” tool and “Edit an existing application” will be selected for you in the “I am” field. Your mortgage is with us now, and I hope it will make you as happy as we are. Buying your first home is an exciting time, but there`s a lot to consider and do. We are here to accompany you throughout the process. Our qualified mortgage advisors can help you find the right mortgage from our range, absolutely free of charge and without obligation on the phone. After receiving the documents we have asked you to send, we will call you to arrange a phone appointment with one of our qualified mortgage advisors who will help you find the most suitable mortgage in our range.
The lender you`ve chosen will usually want to determine that you have a steady income to cover your new mortgage payments and could look at a number of factors related to your work history. You can call us or apply online. Learn more about the application and our mortgage application process. When you apply for a mortgage, you must be at least 18 years old – this is a legal requirement. In addition, there may be a variety of personal factors that individual banks and other lenders will consider before granting you a mortgage, we discuss many factors below. An important consideration when assessing your mortgage eligibility is your ability to cope with repayments. Proof of income is usually one of them, so you may need to show your P60 to the lender to prove that you have a steady income and earn enough to cover the value of your property. Make the move easier by taking your existing mortgage with you. This is called a “portage” – and you can top up any supplement with an additional mortgage transaction, but keep in mind that it is subject to the status and our credit criteria at that time. Note: Repayment strategies are not acceptable if they are held jointly with other parties who are not also parties to the mortgage application.
First Direct cannot offer any recommendation or advice regarding the suitability or choice of a repayment strategy, we will receive a professional assessment of the property you wish to purchase to ensure it is suitable for a mortgage. Depending on the type of valuation you choose, this could also show anything that could be wrong about the property. Applying online with First Direct is easy and convenient if you like to apply without mortgage advice. You should be aware that when you apply online, first of all, there is no direct need to assess the suitability of the mortgage you choose, and you will not receive the same protection as the rules of the Financial Conduct Authority as clients who use the recommended telephone service. A mortgage is a big responsibility, but it`s not necessarily the ball and the chain you can imagine. For example, if your situation changes, you may be able to pay off your mortgage sooner than you think. If you have a fixed interest rate and need to move earlier than expected, you may be able to take your mortgage interest rate with you. However, some mortgages and interest rates have prepayment charges during fixed or discounted periods, so it`s important to find the right mortgage for your needs. In very simple terms, a credit score reflects the likelihood that you will repay your loan; The higher the score, the more likely you are to get a mortgage approved. If you haven`t already, it`s worth reading about our different types of mortgages and how different interest rates work. You may also find these guides useful.
Call us on 0800 47 08 05 † or find the mortgage for you As a responsible lender, we are cautious when it comes to offering mortgages. The eligibility criteria are listed below – if you are not sure, please give us a call. When you hear people talk about buying a home, you might think that mortgages take a long time to settle them. .