Mortgage FAQs

The benefit of engaging the services of a mortgage adviser is that it will ultimately save you time, effort and money ensuring that the most suitable mortgage deal is found for you!

A mortgage broker is essentially a mortgage adviser who is not tied to one specific lender. There are hundreds of lenders that offer mortgages, each with their own criteria/rules, products and interest rates. For this reason, a mortgage broker has experience and knowledge to make sure that they explore which lender will allow you to borrow your required amount, which one will accept your circumstances and which one offers the best product taking in to account fees and charges.

A mortgage broker will usually have access to lenders that are on the high street, but also those that are not. This means that you do not have to do the running around.

There are generally 3 types of mortgage adviser to consider:

• A Tied Adviser will usually work for one lender and only have access to their products. As an example, this could be a Mortgage Adviser in your local Bank or Building society.
• A Multi-tied Adviser will usually have access to a specific panel of lenders or products. As an example this could be a Mortgage Adviser in an Estate Agency.
• A Whole of Market Adviser will have unrestricted access to the whole of the mortgage market. As an example this is an adviser at Burnett Mortgages.

When choosing a mortgage adviser it is important to know which type is right for you.

This will all depend on the timescale, type and severity of the bad credit. The good news is that there are many mortgage lenders that will consider adverse credit; such as CCJ’s, Defaults, IVA’s, Arrears and previous bankruptcy. This is something that Burnett Mortgages can explore for you!

It all depends on your personal circumstances, but the simple answer is Yes! We have been helping our self-employed clients throught 2020 and into 2021 and can discuss your personal circumstances, we can also help you if you have only been self-employed for 1 year!. This is an example of where a Mortgage Broker can help. Have a look at our Self employed mortgage page here.http://burnettmortgages-co-uk.voteqstaging.co.uk/services/self-employed/

At the moment most lenders have restricted mortgages of this type, however with the recent Government announement of the Mortgage Gurantee scheme, we expect these to return in April 2021. Here ar Burnett Mortgages can discuss your individual circumstances and explore your options and will have access to these deals as soon as they become available!

When considering whether to approve your application lenders will look at the length of time you have lived in the UK, the type of Visa that you have and the credit history that you have accrued in the UK. We can help discuss your needs and provide you with the answers before making an application.

The process of buying a house typically takes 6-12 weeks depending on the other parties involved.