| 1.
How much can I borrow? |
| YOU
Mortgages are able to arrange mortgages from £5,000 up to £750,000.
The actual amount available to you will depend upon your circumstances. View the Mortgage Calculator to see a guide to payments. |
| 2.
What APR will I be charged? |
| We have access to the whole of the market place when it comes to mortgages. We are not tied into any one lender, therefore we can search for the best rates possible for you. The actual rate offered to you will depend upon your circumstances; ask for a personalised illustration. |
| 3. How long will it take for my mortgage to complete? |
| The whole process takes approximately 4-6 weeks to complete. This is dependant upon a number of factors, including how quickly you supply us with any documentation required. If you need to speak to your YOU Mortgages
Advisor during the process they can be reached on 0800 567 7060 or you can email them here. Please bear in mind that as we provide mortgage advice we will need to establish which product is most suitable for your needs and individual circumstances.
We will do this by completing a 'FACT FIND' with you over the telephone. This will take between 20 and 30 minutes. |
| 4. What if I want to pay off my new mortgage earlier than expected? |
| You can, of course,
pay off your mortgage at any time. Some early repayment charges may apply depending on the lender you are with and when you redeem the account. Full details of any such charges will be detailed to you in writing before your new mortgage completes. |
| 5. Can I borrow "more" than is required to pay off my current mortgage? |
When you replace your mortgage you may well want to borrow more than the amount required to pay off your current lender. This is very common and we aim to be as flexible as possible. So, you can use the extra money for virtually any purpose
including, Consolidation of Current Credit, carry out some Home Improvements, buy a Newer Car or even take an overdue Exotic Holiday.
Adding existing debts to your mortgage may both extend the repayment term and increase the overall cost of the debt. |
| 6. Can I get a mortgage if I have CCJs and/or defaults? |
| Possibly, however 'adverse credit history' is seen as a higher risk area for the lender. The amount and values of any CCJs
and/or defaults will determine the lender willing to extend a loan. It may also affect the interest rate and product that is offered. |
| 7. What is the maximum I can borrow? |
| Lenders will assess the market according to their perception of risk. There are niche lenders who will lend up to 5 times your gross income; however this will depend on your credit and employment history, your type of income and your property type. |
| 8. How does the application process work? |
| When you call, you'll be assigned an advisor who will help you complete your mortgage application and handle your case throughout the process. You will know quickly whether your application has been accepted and we will keep you informed at each stage. |
| 9. What is payment protection insurance? |
| Payment protection insurance offers a simple and effective way to protect your monthly mortgage payments in the event you are unable to work due to accident, sickness or unemployment. With this cover, you have peace of mind knowing your home is protected should something unexpected happen. |
| 10. Will I need life assurance? |
| Although life assurance is not a requirement, most people take this protection in order that their mortgage is repaid should they die, which could prevent loved ones from losing their family home. |
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