Mortgage Advice
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Why Choose Ascot Mortgages
What Our Clients Say About Us
Written by:
Alison Gibson
Ascot Mortgage Expert
Last Updated:
23.10.2023
Written by:
Alison Gibson
Ascot Mortgage Expert
Last Updated:
23.10.2023
Our mortgage advisers provide free impartial mortgage advice. Here at Ascot Mortgages, we have helped many people to arrange a mortgage and a testament to our service is that we build on our client relationships and continue to help our clients with their mortgage needs over and over again.
Our Mortgage advisers pride themselves on keeping up to date with all Lenders Criteria. Allowing us to source and arrange your mortgage will save time and increase the likelihood of success when applying to a lender.
Honest and reliable mortgage advice
Free initial financial advice
Simple, fast, hassle-free service
We will search across the market for you
Considering your needs
The first step in finding you the right mortgage is to understand your requirements. Our mortgage advisers will take information from you over the telephone, via email or appointment to determine which mortgage deal would be best. You may be looking for a high loan-to-value mortgage if you have a low deposit (90% Mortgages and 95% Mortgages) or you may be looking in to the possibility of the government’s Right to Buy Mortgage Scheme.
We provide advice about the different types of mortgage available and can provide details about mortgages from every UK lender. Sometimes it not always about what the cheapest interest rate is advertised, a lot of the time these deals have limited criteria or high arrangement fees. It is our mortgage advisers’ job to get the best mortgage deal over the term or your mortgage by finding out more about your circumstances. In most cases if you intend to rent out the property you will need a buy to let mortgage, buy to let mortgages usually require more deposit than residential mortgages – however Ascot Mortgages are specialist buy to let mortgage brokers with unrivalled access to a range of high LTV buy to let mortgages.
Confirming eligibility
In the current mortgage market it has never been so difficult to get a mortgage, it is therefore vital that you do not apply to a lender unless you can be certain that you will qualify for their mortgages; applying unsuccessfully to a lender may harm your credit rating. It is reported that some lenders turned down up to 80% of mortgage applicants in 2009.
Ascot Mortgages understands lender’s lending criteria and can approach the lender to talk generically about specific situations to ‘sound out’ the lender before applying.
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Applying for a mortgage
For the majority of mortgage applications we can apply electronically on your behalf, saving you time. We also know how to complete application forms accurately thus reducing the possibility of being declined.
Liaising with the lender
Where we have applied for the mortgage on your behalf we act as your agent. We can obtain information from the lender, estate agent and solicitor to monitor the progress of your application and ensure that everything goes smoothly.
Post completion
When your current mortgage comes to an end we can help you find a replacement mortgage so that you continually maintain a competitive mortgage. Your next application is simplified as we hold 90% of the information required to apply to another lender. The remaining 10% will simply cover information that may have changed over the years; salary changes, new loans or old loans repaid.
Alison Gibson
Ascot Mortgage Expert
Remortgage
Remortgaging is applied when you keep
living in your present property while applying for another mortgage deal with a new lender. Before finding out how to remortgage and get the best offers from experts like Ascot Mortgages, you have to check meeting what parameters of the deal that can help you succeed the most. The range of background factors varies a lot — from the recently changed loan-to-value ratio or your existing agreement coming to an end.
Whether you are trying to get a more beneficial deal or searching for funding to improve your home conditions, remortgaging is one of the most advantageous scenarios to consider.
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FAQ
The loan to value (LTV) rate determines how much you can borrow. A lower LTV typically results in better interest rates and more choice of lenders for remortgaging, as it represents lower risk to lenders.
Yes, you can choose to remortgage with a different lender. However, this should be based on factors such as interest rates, fees, and the terms and conditions of the potential new mortgage. Contact us today and we can help you to find the best option to suit your needs.
Most lenders will require a valuation of your property when you remortgage to ascertain its current market value. Some lenders may use an automated valuation model instead of a physical appraisal. Need help navigating this? Reach us today to discuss your mortgage needs.
Yes, when remortgaging a solicitor is required for both the mortgage lender and the applicant. Some mortgage lenders offer mortgage products that have a free legal facility. They handle the legal paperwork and advise on potential issues.
The amount you can borrow with a remortgage depends on multiple factors including your income, outgoings, credit score, the value of your property, and the lender’s criteria. Easy contact us to discuss your remortgage borrowing capacity.
The remortgaging process typically takes between 4 to 8 weeks, but can be quicker or slower depending on your circumstances and the lender’s processes. For help in understanding what you can expect, contact us today!
To improve your chances of being accepted for a remortgage, maintain a good credit history, ensure your income is stable, and reduce your overall debt. It can also help to have a clear purpose for remortgaging. Need advice? Reach us today.
It is possible to remortgage with bad credit, but options may be limited and interest rates may be higher. Some specialist lenders provide services for people with poor credit histories.
Applying for a remortgage will likely require a credit check, which can leave a footprint on your credit file. However, the impact on your credit score is usually minimal and temporary.
If your remortgage application is rejected, seek to understand why. It could be related to your income, property value, or credit score. You may need to consider alternative lenders or improve your financial situation. Contact us today for a free consultation and guidance on your options.
Yes, self-employed individuals can remortgage. However, you’ll need to provide more evidence of your income, usually in the form of HMRC documents for the last two or three years. If you’re self-employed and considering remortgaging, feel free to reach out to us whenever you’re ready to discuss this further.
Seeking advice on remortgaging can be beneficial to understand the costs, benefits, and potential risks. Professional mortgage advisors can guide you to make the best decision based on your circumstances. Need professional advice? Easy reach us and we always here to help!
Yes, there are fees involved in remortgaging. These can include exit fees from your current lender, arrangement fees for your new mortgage, valuation fees, legal fees, and broker fees. It’s important to factor these in when considering a remortgage.
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Legal
Ascot Mortgages authorised and regulated by the Financial Conduct Authority and can be found on the FCA register (www.fca.org.uk) under reference 776062. The FCA do not regulate some forms of mortgages. The guidance and advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK. There may be a fee for mortgage advice. The precise amount will depend upon your circumstances but we estimate it will be £399 per mortgage account. Ascot Mortgages Ltd give you the option to pay a non-refundable fee of £879 payable with the application. If this option is taken, Ascot Mortgages Ltd will refund any procuration fee received by the lender.
Ascot Mortgages Limited is registered in England and Wales and have their registered office at 8 Webster Court, Westbrook, Warrington, WA5 8WD. The company’s registration number is 06764971.
We are a credit broker, not a lender. We work with the whole of the lending market. We may receive commissions that will vary depending on the lender, product, or other permissible factors. The nature any commissions model will be confirmed to you before you proceed.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
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