Frequently Asked Questions
How much does this service cost?
It is completely free to use our website and we will find the perfect broker for you without you having to spend a penny. However, each broker has their own fee structure which is based on every individuals case and circumstance. They should be able to tell you their fees in the first appointment.
Are the brokers whole of market?
No broker is truly whole of market as there are various lenders that will only deal with customers directly and not through a broker. However, our brokers all have access to the majority of the lending market and can find you the most competitive deal that fits your needs.
How long before I hear from a broker?
You can expect to be contacted by one of our brokers within 1 working day.
How long does the process take?
Once the broker reaches out to you, they will need to take down your information, do the research to find the best deal for you and then proceed with the application from there. Depending on various lender timescales, mortgages are normally approved within 6-8 weeks of applying and the whole purchase process can take up to 6 months + (depending on the circumstance ie: a chain, leasehold properties, right to buy etc)
These can all vary.
Do the brokers deal with first time buyers/adverse/self employed income etc?
Yes, our panel of brokers are experts in all fields and areas of income and type of borrowing.
How much can I borrow?
This will be calculated by the broker once they have completed their first financial appointment with you.
How much deposit will I need?
The general market requires a minimum of 10% for residential purchases and 25% for Buy To Let purchases. However these can differ depending on lenders, schemes (Help To Buy, Shared Ownership etc) and of course your personal affordability.
What documents do I need?
The list of documents can vary slightly from broker to broker, however the general information and documentation you should keep to hand is;
- Proof of ID
- Proof of Address
- Proof of income (latest 3 months payslips if employed or latest 2 years tax calculations & tax year overviews OR Accounts if self employed)
- Proof of Income & Expenditure (latest 3 months bank statements showing income credit and day to day expenditure)
- Proof of Deposit (latest 3 months bank statements)
What sort of rates would I get?
This is what our experts are here to find you. The rates vary lender to lender and for each circumstance. The market is ever changing and our brokers are here to find you the most competitive deal on the market, specific for your needs.