“HOW MUCH CAN I BORROW?”

Lenders look at affordability in a lot more detail than they used to so the old ‘x times your income’ guide has become redundant. There is no charge for an initial consultation and in most cases we can give you a good idea of your borrowing capacity from this.

“WHAT INFORMATION / DOCUMENTS WILL YOU NEED?”

For all applicants we would need three full months personal bank statements (itemised), ID and proof of address. Proof of income is typically 3 months payslips and latest P60 (employed) or latest 2 to 3 years accounts or tax returns (self employed / directors). Proof of deposit is also required (unless equity from property sale). If a deposit is gifted by family we still need proof of deposit, plus ID and proof of address for that family member. This is not an exhaustive list and you will be advised of exact requirements at the approriate time.

“DO YOU DO HOME VISITS / EVENING & WEEKEND APPOINTMENTS?”

Currently we only do home visits in Bromsgrove and nearby, and can do early evening and Saturday appointments subject to availability.

“CAN I GET A MORTGAGE WITH A POOR CREDIT RATING?”

Possibly. We would suggest an appointment and ask you to bring a full credit report (as well as other documents as advised) for anyone to be named on the mortgage. You can get a free credit report at www.noddle.co.uk

“WHAT CAN I BORROW ON A BUY TO LET?”

A buy to let mortgage is usually assessed using the anticipated rent the property can achieve. Most lenders will also seek evidence of a minimum personal income. The maximum loan is typically 75% although a higher percentage may be possible.

MOST FORMS OF BUY TO LET MORTGAGE ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY

Guest Independent Mortgage Advice Ltd is an Appointed Representative of TenetLime Limited, which is Authorised and Regulated by the Financial Conduct Authority. TenetLime Limited is entered on the Financial Services Register (www.fca.org.uk/register) under reference 311266.

Guest Independent Mortgage Advice Ltd is registered in England & Wales under registration number 05012618. Registered address: Old Anglo House, Mitton Street, Stourport on Severn DY13 9AQ.

The information contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.

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