We at Mortgage & Lifetime Solutions provide expert help and advice on first-time buyer mortgage. We’ll ensure you acquire your new home seamlessly by educating you on what mortgage will best fit you.
What do you need for a mortgage application?
When applying for a mortgage, you need to settle the following:
- You need to have saved at least 5 per cent of the property’s price as a deposit.
- Ensure you have a competitive credit score. If you don’t have a good credit score, don’t worry. We also offer consulting services for bad credit mortgages.
- Pay for the survey costs, solicitor’s fee, removal costs, building insurance, furnishing, and stamp duty, among others.
Problems encountered when applying for a mortgage
Applying for a mortgage is as difficult as it is promising. There are reasons you might struggle to have a mortgage application approved.
- Bad credit score – Because of a lack of financial history, missed or late credit repayments or non-payment of other bills.
- Small deposit – Again, you’ll need to have saved a deposit of at least 5 per cent of the price of your new home.
- Low income – You’ll need to promise lenders that you can cover everything — from the initial costs to the monthly costs.
If you think you might run into a problem, we’re ready to help.