FAQs
We can give you options for solicitors as we have good relationships with various conveyancing firms covering most transaction types. We will send a fully comprehensive quote over with a competitive company and will instruct them on your behalf. The benefit to you is that we will have access to your case throughout, which will help speed things up and if you ask nicely we can also help with the paperwork!
This is a charge set by the lender if you were to repay the mortgage early. It is usually a percentage of the loan and the ERC period will end when the initial product, fixed/tracker period ends. With many lenders you can make overpayments during the concessionary period, which will mostly be limited to 10% of the outstanding balance per annum, some lenders will vary. You will not be charged any ERCs if you stick within the lenders limit, anything over the limit may incur the ERCs.
If you are purchasing a freehold property then you will need buildings insurance. If however you are purchasing a leasehold property, then you may only need contents insurance. Please do check with the freeholder to see if they cover the building separately. We can arrange these policies for you and will look to send a quote once you receive the mortgage offer.
Just because another lender has declined your application, or another mortgage broker couldn’t find what you were looking for doesn’t mean that it will happen again. All lenders have a different set of criteria, so it is our job to find one who will accept your current situation. We are a whole of market broker, so we may have access to lenders that others may not.
On many mortgages yes you can. This is usually set at 10% of the outstanding balance per annum, however this does vary with some lenders. If this is important to you and you are likely to make larger overpayments, let us know as we may have access to better overpayment facilities.
