Moving home is an exciting time and Prospect Tree Mortgages are here to give you the right mortgage advice for your new home. With access to the whole market we are best placed to help you find the mortgage which best suits your individual requirements. We are able to recommend conveyancers to assist with the legal side of your house move as well.
Your home may be repossessed if you do not keep up repayments on your mortgage
Being financially prepared means being able to make an offer on a property if you wish to. Our experts will help put you in the best financial position to make offers once you are ready to.
Being financially prepared means being able to make offers on a property if you wish to. If you are planning on purchasing with a mortgage, then you will need a way to prove that you are likely to have your application accepted once you make it.
Estate agents and the homeowners they represent will want reassurance of this prior to considering your offer. To provide this reassurance, you will want to acquire an Agreement in Principle from a mortgage lender. This document will provide you with the amount they will consider lending you subject to their underwriting checks.
Whilst this isn’t a binding mortgage offer, it gives the estate agents and homeowners the confidence they need to accept your offer and cease advertising the property for sale. If you are beginning a property search, speak to us about an Agreement in Principle before you do.
You could be tied into your current mortgage deal. We will help you figure out your best course of action and help you calculate all the figures.
You may be tied in with your current lender as you are still within a fixed rate period with an early repayment charge, in this instance we can look at staying with your current lender and “porting” your current mortgage with a top up amount if required.
Nowadays many mortgages are “portable”. However, this will all be subject to affordability and your lender’s current lending criteria, it could be that the lender might find the type of property you want to buy unacceptable. When we ask your lender to “port” your mortgage, we are effectively reapplying for the borrowing.
Moving home can be a stressful affair, but we can use our expertise and proven process to limit this as much as possible. We will give you access to all the best products available to you from the UK marketplace.
We will take the stress out of all these potential scenarios by looking at the best possible mortgage solution for you. It might be that a new lender is recommended to make you move possible. If the lender has tightened their affordability rules, then you might not be able to borrow the amount the amount you need. You may need to consider using another lender instead.
Moving home is not only stressful – it’s expensive. It is important to factor in potential additional costs such as stamp duty, conveyancing costs and legal fees, agency fees for selling your property and removal costs. Put your trust in us to help you make that move.
