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Our great relationships with our lenders means we have access to plenty of house purchase mortgage deals - including exclusives.
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A house purchase mortgage is your typical mortgage when buying, or moving, to a new home. It’s the process of securing, or renegotiating, a mortgage suitable for your new property. Obviously, equity, individual circumstances and other financial factors have their part to play in determining what deal or rate you can get. However, if you’re moving house, then presumably you’ve already experienced the mortgage process - a moving house purchase mortgage is pretty much the same as that.
As you can imagine, house purchase mortgages are very competitive. Comparing mortgages is one option to finding a better rate or lender. However, if you’ve already secured a mortgage through MortgageKey, it’s advisable to stay put. Sticking with your current lender may reduce the stress and administration involved in a new mortgage. It may also help you to avoid any remortgaging penalties involved with exiting your current mortgage deal earlier than anticipated.
Finding a better house purchase mortgage is do-able. The current mortgage climate is very aggressive, with variable rates as low, if not lower than 3% and fixed rates edging in a fraction higher. This is very attractive for prospective lenders, and the best it’s been for some time. Although these rates appear low, make sure you factor in any arrangement fees or other costs, so that the headline figure remains attractive.
Moving or applying for a new mortgage can incur further credit checks. Be aware that the criteria may’ve changed somewhat since you last went through this process and prepare yourself for further financial scrutiny. If you discover that you are ineligible under the new criteria, you may be left without an option. Even if your circumstances have not changed, new legislation may deem you unsuccessful in your application. Unless you are downsizing, then because you’re not borrowing more money, you should be just fine.
Because you are either moving home or buying a property, you will need a mortgage. The product best suitable for this situation is a house purchase mortgage. Most mortgages are portable. This means that there is an option to transfer your mortgage from your existing property to your new one. This is the smoothest and most swift process for anybody in this situation.
This depends entirely on your own individual circumstances. Each mortgage products and their lenders operate very differently. Therefore, when they assess your current situation, they may decide that they do not want to lend you any more money, as they see the risk as to high. Alternatively, they may be able to find you a house purchase mortgage deal which suits you and your needs perfectly and secures you a better mortgage rate in the process. Speak to an advisor today, to determine if a house purchase mortgage is suited to your circumstances.
The process of securing a house purchase mortgage can be demanding, especially if you’ve already got your sights set on the ideal property. It’s important to do your research beforehand, and ready yourself financial scrutiny and a thorough process throughout. Luckily, here at MortgageKey, our industry experts take the time to compare and search through thousands of house purchase mortgage deals from leading providers, so they can present you with the options they believe are right for you and your property.
There are a range of factors you need to consider when thinking about a house purchase mortgage deal. One of the main ones is to prepare yourself for credit checks and financial scrutiny under new legislation. Next, you need to make sure you can maintain the new monthly repayments, otherwise your home could be in danger of being repossessed. It’s always worthwhile budgeting in-case of any unforeseen fees or charges which may occur throughout the process.
Firstly, there is no obligation, or fees, for our friendly advice or quotes. Secondly, you can benefit from our years of experience and lasting relationships with a comprehensive range of lenders. Finally, our expertise and knowledge with help you to familiarise with even the most complex mortgage procedures. Also, our friendly and attentive staff, offer a five-star service from inquest to completion.
Relieving you of the stress and complexities of house purchase mortgages is high on our agenda. We have the people in place to do the hard work for you. The constant changes in our industry mean we always have our finger on the pulse, keeping you are as up-to-date as possible so that you can make the right decision at the right time.
By keeping a close eye on the market, and through regular activity with our lenders, we are perfectly poised to identify which providers are best suited to your individual circumstances. MortgageKey firmly believe that each case is different but fully understand the importance of making the whole process as watertight and as smooth as possible for you.
Our mortgage advisors are available Mon-Fri from 9am to 8pm, giving you plenty of opportunity to seek a quick overview of what your mortgage deal could potentially look like.
A dedicated team of mortgage experts will answer your questions, queries and provide quality advice for your personal circumstances and the specific mortgage product suited to you.
We’ll take care of your application to your chosen lender from start to finish, in record time - taking away the stress and making the process pain free!
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