FREQUENTLY ASKED QUESTIONS
1What does it cost for us to go through you to get a loan?
If we are applying for a property loan on your behalf we don’t charge you for our services. The bank pays us for taking your loan to them. We do offer additional services for which we charge a small fee but will tell you up front what this will cost.
2What lenders do you use, can you go to my current bank?
We have a large number of lenders on our panel which we can use including the big banks and lesser known ones. We regularly use about 8 to 10 lenders. If your bank is on our extensive panel we are able to go to your current lender on your behalf.
3Why use a mortgage broker?
There are many reasons to use a mortgage broker rather than going directly to your bank:
- Choice – We have access to a large number of banks and products unlike your bank which has a limited range of products. The banks are being very stringent in their assessing due to the current financial climate; you are more likely to find a bank saying yes when we can tailor the loan to your circumstances.
- Experience – We have been helping clients for a combined total of 10 years but also have many years back ground in finance and property. The finance climate is always changing, we are constantly updating our knowledge to be able to provide the best possible service to you. We are committed to you for the long term.
- Follow up – Following up the progress of your application can be very time consuming and frustrating, we have a system which includes following up, keeping you informed and saving you time.
- Personal Banker – We know what needs to be done, we make sure it happens and because it is our own business, we are in it for the long haul. We have a vested interest in making sure you are happy and satisfied with the job we do.
4How much deposit do I need to buy a house?
The amount of funds you need depends on your specific circumstances. Generally you will need between 5-20% of the purchase price plus funds to pay fees and charges eg. State Fees, Solicitors, Bank Charges & Fees, this is normally about 5% of the purchase price. We can give you a tailored estimate based on your own personal circumstances.