Request A Call Back
Request a callback below and we will get in touch with you if you wish to talk about any of our services.
Resource Videos
Overview Of Mortgage Protection
Please be aware that by clicking on to the above links you are leaving AM Mortgages website. Please note that AM Mortgages nor HL Partnership Limited are responsible for the accuracy of the information contained within the linked site(s) accessible from this page.
What To Expect In Your Mortgage Meeting With Us
Please be aware that by clicking on to the above links you are leaving AM Mortgages website. Please note that AM Mortgages nor HL Partnership Limited are responsible for the accuracy of the information contained within the linked site(s) accessible from this page.
Download Guides
Frequently Asked Questions
AKA Decision or Agreement in principle – this is an initial assessment to confirm how much you are likely to be able to borrow. It will be based on your income and circumstances and usually a soft credit check. It is the first step you need to take for ANY mortgage application, even porting or remortgaging. It will give you peace of mind and shows estate agents that you are ‘good’ for the offer you are making. We promise to provide this instantly to you, saving you potentially weeks of waiting for a meeting at your bank or building society.
Stamp Duty is a tax that may be payable when buying your home, in England and Northern Ireland (as of March 2022), any property over £125,000 is subject to a tax. In Scotland, there’s a slightly different policy, but the concept is the same – it’s known as Land and Buildings Transaction Tax, or Land Transaction Tax in Wales. Your conveyancer (solicitor) will provide you tailored and personalised advice on this.
There’s an easy way to find out how much tax you might have to pay on your property sale – simply take a look at these Government calculators for your respective country of residence. England & Northern Ireland, Wales, Scotland.
Please be aware that by clicking on to the above links you are leaving AM Mortgages website. Please note that AM Mortgages nor HL Partnership Limited are responsible for the accuracy of the information contained within the linked site(s) accessible from this page.
All banks, building societies, collection agencies and even governments, report and share information with each other through credit reference agencies to provide a history of your borrowing and financial activity. When you apply for a mortgage, all lenders will use this as a reference to assess whether they can lend to you. We advise everyone to check their full credit report before any mortgage application. Firstly, it gives you and us an accurate account of your outstanding debts (which needs to match the mortgage application, even if they have recently been repaid or will be repaid as part of the new mortgage) and the credit scoring that the lender will use. Secondly, if there are any issues or ‘blips’ these can be resolved or considered when applying for a mortgage. Even if the score is low, we can look at finding the right lender for you.
There are various reports you can access, however we recommend Check My File, as they provide a multi-agency report which gives both you and us the most information available. You can sign up for a free trial here.
Try it FREE for 30 days, then £14.99 a month – cancel anytime
Please be aware that by clicking on to the above links you are leaving AM Mortgages website. Please note that AM Mortgages nor HL Partnership Limited are responsible for the accuracy of the information contained within the linked site(s) accessible from this page.
The amount of mortgage you can afford is based on your income and any financial commitments you already have. At AM Mortgages we have invested in innovative software that allows us to calculate across many lenders without giving them your personal information, saving you hours of research! Whether a lender will let you borrow this amount will also depend on your credit history, the size of your cash deposit and the length of the mortgage term.
Banks and building societies change their mortgage rates quite frequently, so it is always best to shop around when looking for the best deals. Again, we have access to specialised software that provides live, up-to-date rates that is reviewed daily. While low interest rates are attractive, they are not the only consideration. You should also factor in the type of deal you want – such as a fixed or variable rate mortgage – the fees attached to the deal, plus how long you want to be tied into the loan. This will all come into our recommendation, you can have real peace of mind that you are getting the most suitable mortgage deal in a very crowded and competitive market.
Loan to value (LTV) is the percentage of borrowing you take out against your home. For example, if you have a £180,000 mortgage on a £200,000 house, the loan to value ratio would be 90%. The more you can put down as a deposit, the lower the LTV will be. Lenders look at your LTV when deciding if they’ll accept your mortgage application – the lower, the better and can mean you can get lower interest rates. The lower your LTV ratio, the higher your equity in a property. You can sometimes ‘release’ this equity by borrowing extra against your home. The equity will go up and down depending on house prices and the balance of your mortgage.
Each mortgage lender decides their own criteria for lending money. This means that while some lenders might turn you down, others may not. Generally, a lender will take into consideration:
– how much you want to borrow
– your deposit
– what kind of property you want to buy – it can be harder to find a lender willing to lend on high-rise flats, ex-local authority property, homes made from non-standard materials, properties above restaurants and bars etc.
– your employment status
– any debts you have
– your regular spending
– your credit rating
– whether the mortgage is affordable for you
If you are worried that any of these factors will stop you getting a mortgage, please speak to us first. We have access to specialised lenders that can accept various situations and have many success stories we are practically proud of.
Whilst most lenders do require 10% – 15% deposit, we do have access to lenders which can consider 5% or even no deposit! Schemes such as family assisted, or mortgage guarantee scheme can help first time buyers get on the property ladder quicker than you may think. Your deposit can come from varied sources so speak to us today about your options.
Whilst most standard mortgage deals will run until age 70 there are many options on the market where you can take your mortgage way beyond retirement now. If it is seen to be affordable by the lender, you may be able to have a mortgage at any age!
Whether you are looking to move home, borrow more or switch to a better rate you may be able to do this with your existing lender. At AM Mortgages we have the facility to compare deals with your existing lender to others on the market, so you can know exactly which is the most financially viable for you. Even if you stay with your current lender we can do the admin for you, saving you lengthy waits for long appointments in the high street bank or frustrating long phone appointments. We can get the same rates that you would direct or sometimes even cheaper.
