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What Questions Will A Mortgage Broker Ask?

Applying for a mortgage is a daunting experience. Without the help of a mortgage advisor, the experience can be extremely stressful and you may not get the best Rate/Product.

Mortgage advisors have the qualifications, knowledge and experience to find you a mortgage that suits your circumstances. Without a mortgage advisor, you may struggle to obtain a mortgage, or you may end up with a mortgage you cannot afford.

If you are preparing to meet with a mortgage advisor, you may have some reservations. Don’t worry though, a mortgage advisor is there to help. Sure, it can be a little strange telling someone you have just met personal details, but it will be worth it in the end!

At Burnett Mortgages, we aim to get to know our clients so they feel comfortable and confident when discussing their finances and life choices.

In this blog, we are going to share the most common questions a mortgage advisor will ask you. Starting with…

What Is Your Monthly And Annual Income?

Any mortgage lender will want details of your income before they agree to give you a mortgage. Your mortgage advisor will most definitely ask for a breakdown of what you earn and how. If it’s a joint application you’ll need the income for both parties.

If you work part-time or you are self-employed, lending to you may seem like a bigger risk, so it is important to be upfront about your income and have the statements and payslips to demonstrate a breakdown of your income.

Do You Have Any Credit Cards Or Loans?

You will be asked to provide information on any existing or previous credit cards and loans you have. The mortgage lender will want reassurance that you can make regular, ongoing payments on time.

Having a credit card or other monthly payments (such as car finance) may be helpful when obtaining a mortgage, however you do not necessarily have to have credit in place to obtain a mortgage.

Do You Have Any Debt Or Adverse Credit?

Having debt isn’t always a negative thing when it comes to obtaining a mortgage. As long as you can prove that you are consistently repaying the money you owe, your debt shouldn’t hinder your chances of getting a mortgage.

Adverse credit refers to a poor credit history that might include delinquent debt, late bill payments, large amounts owed or even bankruptcy.

What Regular Outgoings Do You Have?

Aside from any credit cards, loans or debt, your mortgage advisor will also ask about your other outgoings. These might include car insurance or finance, other essential insurance, child care fees, child maintenance, gas and electricity bills, water bills, council tax, essential travel and other expenses.

Your mortgage advisor will likely ask to see your bank statements to check if you have any significant expenses. This allows the mortgage advisor to get an understanding of whether you will be able to afford the mortgage payments.

Do You Have Any Dependants?

Do you have any children, elderly adults or disabled adults that are dependent on you? If so, the mortgage advisor will ask for the names and dates of birth of any financial dependants.

If you have children, the mortgage lender may ask if you want more children in the future. If you don’t have children, they may ask if you are planning on having children in the future.

Where Is Your Deposit From?

Have you saved for your deposit? Or did you inherit it? Or was it gifted? If you have saved for the deposit yourself, this shows mortgage lenders that you are responsible with your money and you are less of a risk.

What Type Of Mortgage Do You Want?

If this is your first time obtaining a mortgage, the mortgage advisor will explain the different types of mortgages available, including fixed-rate mortgages, standard variable rate mortgages and tracker mortgages etc. They will then ask you what type of mortgage you want and will discuss the best option for your circumstances.

How Much Do You Wish To Borrow?

Obviously, the mortgage lender needs to know how much you need to borrow from a mortgage lender to increase your chances of obtaining the mortgage at a good rate.

Get In Touch

If you are looking for a trustworthy and reliable mortgage advisor to help you through the mortgage process, or if you have further questions, don’t hesitate to get in touch.

You can call Burnett Mortgages on 01302 436333 or fill out our online contact form and we will get back to you ASAP.

Burnett Mortgages is your local mortgage broker with more than 12 years of experience in financial services. Our dedicated team tailor the mortgage approach to your needs and always search the market for the very best remortgage deals.

Your home may be repossessed if you do not keep up repayments on your mortgage.

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What Our Clients Think Of Us

  • “I couldn’t thank Simon and his team enough for helping me get on the property ladder. He could never do enough to help through the process. As a first time buyer I didn’t have a clue and any question I asked he answered with my best interests at heart. I would advise anyone who is thinking of using a mortgage advisor to use Simon and his team. I will be definitely using him in the future when it comes to remortgage time and thanks to Paulina who chased the solicitors making them pull there finger out. Thank you once again.”

    Matthew Lindley – May 2021

  • “Simon gives 100% in all aspects of his work. Highly recommended.”

    Rick

  • Simon was excellent from start to finish and in very unusual circumstances. He dealt with our mortgage managing to get us the best deal possible in a time of economic uncertainty and made sure our life insurance was up to scratch too. Despite not being able to be in face to face contact due to restrictions imposed at the time communicating was simple, regular, supportive and effective. He was easy to talk to and happy to deal with questions. He certainly went above and beyond to get us relocated and was excited for us even sending us a congratulatory gift. We will most certainly be returning when it is time to remortgage.

    Alexis – October 2020

  • “Where do we start with Simon, we can’t recommend him enough. This time we re-mortgaged after he found our first mortgage on our first home. Simon is so easy to talk to, and he always goes the extra mile to help his customers. Any stress you have you have about your mortgage dwindles away as soon as you speak to Simon. Every little detail he explains to you in a way that it is easy for anyone to understand, so you will never sign anything you are unsure about. We can’t thank Simon enough and we will sure be in touch when its time to re-mortgage again.”

    Colette Hunt – May 2021

  • “My girlfriend & I were left in a tricky spot after our mortgage application was declined having already had an offer accepted. As a first time buyer this was very stressful but Simon consistently reassured us throughout the process. He was extremely responsive to all questions and sorted us a mortgage with a better rate than any other we could find online in less than two weeks. We will definitely be using his services & we can’t recommend him enough!.”

    Nathan – February 2021

  • “We have found Simon to be a most helpful mortgage adviser. He is knowledgable and listens to clients’ requests and needs. He is very prompt in communication and always goes that extra mile to help. I would have no hestitation in recommending him for mortgaging advice.”

    Suzanne

  • “Simon is totally reliable, trustworthy and professional he went above and beyond to ensure that our mortgage was ported across to the new house we were buying in time for the completion date we had agreed. I would thoroughly recommend Simon to all of our friends and family and would have no hesitation in using him again to arrange a mortgage.”

    Steven Wheeler – August 2021

  • “Moved into our first home today after the incredible support from Simon. Hasn’t been a simple journey, with obstacles in our way (from seller and seller solicitors) but Simon was consistent throughout and was availiable at all times of day during the week to make things as easy as possible. Always worked around our awkward schedule including house visits on a Friday night. Can’t recommend him enough. Thank you so much Simon!”

    Jessica

  • “Excellent service. Both Simon and Paulina were very helpful guiding us through the process and answering all of the questions we had. Communications level has been fantastic and the application had progressed very efficiently. Thank you :).”

    Paulina Lucewicz April 2021

  • Very professional, honest and always at the end of the phone to guide you through everything you need. 100% recommend to anyone. Extremely happy with the service and will use for many years to come.

    Steve Fairhurst – December 2020

  • “Simon has just helped us remortgage our help to buy mortgage. He has been so supportive through this process going over and above!
    He got us a great deal on our mortgage too. Would definitely recommend him!!”

    Rachelle Mclennan – July 2021

  • “I cannot recommend Simon enough. He is professional, trustworthy, caring and knowledgable. Simon arranged both our mortgage and our protection. Unfortunately, we found ourselves in a position where we had to claim on the critical illness cover. Without his advice and cover we would have found ourselves in a sorry state. His attention to detail and no-nonsense approach to explaining each product ensured that we were covered. He has eleviated a huge financial burden at a very stressful time. I can’t recommend him enough. I will never use anyone else. This man really does go above and beyond.”

    Nicki – December 2018

  • “We came across Simons website when we were searching for a local mortgage broker. We had just had our mortgage declined from a bank because I only had one years accounts. I emailed Simon and had a response from him within the hour, he said he’d try his best to help us out. He phoned us a few days later to talk about our situation and why we had our previous mortgage declined. With us being first time buyers we were stressed out and we didn’t want to loose a house that we had fallen in love with. Simon made sure that he gathered as much information as possible from me and my boyfriend and found a mortgage and had it accepted within a week or so. I would recommend him to anyone who is struggling to get a mortgage, he’s very down to earth, friendly and professional and we will continue to use him if we ever buy another house in the future!!.”

    Megan – February 2021

  • December 2020 “This is our second re-mortgage using Simon and on both occasions he has provided us with a first rate service. Personable, responsive, kind and extremely good at his job. I highly recommend him and will continue to use his services as long as he’s offering them!

    Also a thank you to Paulina, who has recently joined Simon’s team and kept in regular touch throughout as well as being very friendly and efficient.”

    Juliette Prosser- December 2020

  • “Me and my partner had Simon help us when we first decided to buy a property together neither of us had any experience and at the time we had an average if not low credit score Simon was able to talk us through the process and what we could do to raise that score and look at options available to us. Simon has helped us through every stage and has been an absolute diamond answering questions that we had no clue about. It is always a pleasure talking to Simon he works his best and looks at all options, he is very efficient and is true to his word. He has now helped us not only initially get onto the property ladder but with a variety of other questions in relation to our mortgage and we recommend him highly to anyone who needs help”

    SarahJane Ward April 2021

  • “Me and my partner were 1st time buyers and had no idea what we was doing with any paperwork or what to apply for. Simon and Paulina calmed all nerves and helped us every step of the way. Nothing was any trouble for them and no question was too stupid (I asked some stupid ones).

    I would highly recommend Simon to anyone who’s looking for their 1st home or people remortgaging.”

    Will Gregorick – April 2021

  • “We came across Simons website when we were searching for a local mortgage broker. We had just had our mortgage declined from a bank because I only had one years accounts. I emailed Simon and had a response from him within the hour, he said he’d try his best to help us out. He phoned us a few days later to talk about our situation and why we had our previous mortgage declined. With us being first time buyers we were stressed out and we didn’t want to loose a house that we had fallen in love with. Simon made sure that he gathered as much information as possible from me and my boyfriend and found a mortgage and had it accepted within a week or so. I would recommend him to anyone who is struggling to get a mortgage, he’s very down to earth, friendly and professional and we will continue to use him if we ever buy another house in the future!!”

    Megan Randall – February 2021

  • Simon took on a challenge for my daughter – less than two months into a new job with time off on sick for Covid testing, turned down elsewhere, and not only found a mortgage that was 25% more affordable, but got it over the line within a week. Thank you – you’re a legend!

    Guy Nottingham – January 2021

  • “Best service we could have hoped for! Simon got us the right mortgage quickly, was professional, friendly, super responsive and delivered what we needed in a difficult Covid-19 time time, all whilst explaining everything through to us. Burnett Mortgages even went the extra mile sending us a thoughtful and lovely moving in gift, which just cemented that caring touch we experienced throughout. We couldn’t recommend Simon, Paulina and Burnett Mortgages highly enough! Will definitely use them again in the future.”

    Rebecca Hastings, July 2021

Request a Callback

Please call us on 01302 436333 or email Burnett Mortgages for a no obligation conversation.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Not all Buy to Lets are regulated by The Financial Conduct Authority.

As with all insurance Policies conditions and exclusions will apply.

You may have to pay an early repayment charge to your existing lender if you remortgage.

There may be a fee for arranging a mortgage and the precise amount will depend on your circumstances. This will typically be £399.

Burnett Mortgages Limited is an Appointed Representative of Stonebridge Mortgage Solutions LTD, which is authorised and regulated by the Financial Conduct Authority. Registered Office : Burnett Mortgages Limited, 115A Scrooby Road, Bircotes, Doncaster. DN11 8JN. England. Registered Company Number : 11224301. Registered in England and Wales.

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