At Barrett Mortgages we are a professional finance broker with offices in the Bournemouth area. Providing mortgages for everyone including first-time buyers and buy to let mortgages. A lot of people are getting fed up with the high-pressure sales tactics of the large corporates, Barrett Mortgages was set up by founder Darren Barrett has meant our business has thrived during these times when clients have needed more individual and specialist help. All of our staff are fully qualified, experienced and chosen based on their keenness to provide the best possible experience for our customers. We promise no pushy hard sales tactics and have built a strong reputation which is important as we rely heavily on referrals from clients.
We know that getting onto the property ladder is a goal in most peoples lives and this is why we have a first-time buyers service that we can provide you with. We can help to assist and guide you through the whole process. When you are looking at buying a home you will need to save at much money as you can each month, Reduce all of your outgoings so your monthly costs are as low as they can be. Reducing your debt or being debt-free will really help with your mortgage application as it would be good to show the lenders that you can repay the money that you owe. Receiving a regular income is a big need, as the lenders will want to know how much you are bringing in each month so that you can pay them the money back. Being in possession of a clean credit rating will also help with your application.
The reason for saving as much money as possible before getting your home is to pay for the deposit required, depending on what lender you go with each will have their own required deposit amounts and if you can’t pay for it then your chances of getting a mortgage will be slimmer. Being able to put down a big deposit onto your property will be of great benefit to you as your monthly payments will decrease as you won’t have as much of a mortgage to pay off. it is also very useful to keep some money aside for fees and moving costs, as you may be liable for stamp duty, pay solicitor fees and surveyor fees and the actual cost of moving from A to B.
There may also be some great government help to get you on the property ladder a little easier normally if the buyer can put down 5% on a property the government will lend you up to 20% of the purchase price of the property. This means you will only have to get a mortgage for the remaining 75% of the purchase price. If you are self-employed, we will help you to find a mortgage that will best suit your financial circumstances. It is quite surprising when speaking to people who are self-employed and don’t think they can get a mortgage. There is just another way to calculate how much you can borrow if you are self-employed. To find more out about this visit our self-employed mortgage page.
Obviously, this isn’t the only types of mortgage we can help you with, see the rest of our services on our homepage.
Get in contact with us if you are interested in any of our advice.