Residential mortgage is the most common form of credit. If you are looking to buy, or sell your house in the UK, then we are the answer to all your problems. We not only provide our services for residential mortgages in Leeds and Birmingham but all over the UK.
Whether you need to purchase an apartment or a house, we are here to help you get a residential mortgage to solve your worries.
Residential mortgage is a large loan designed for first time buyers, those moving home or those interested in remortgage.
What Is A Residential Mortgage?
A residential mortgage is a loan you take to purchase your property. It is long-term funding of the property you are going to purchase. The money could be lent back over the years, depending on the deal. You can stay at home while the process is going on.
It requires a cash deposit of about 30% of the total property value. All residential mortgages have an LTV ratio which is the amount that is borrowed. The amount borrowed as a mortgage is always higher than the actual property.
What Will Lenders Consider When You Apply For A Residential Mortgage?
Lenders for your residential mortgage deal will check your finances to see if you can afford the deal or not. No one would want to lend a loan to those who are under financial strains. Your credit history and rating also play a major factor in determining whether you are qualified or not. If you have a poor credit reputation, then mortgage dealers might increase interest rates.
Why Choose Us For Your Residential Mortgage Deals?
They will connect you with lenders and mortgage brokers who are authentic.