We know that mortgages can be quite daunting and stressful experience for some. So we have created an easy 6 step guide for you to follow which will make the process much easier and simpler to understand. We will be with you every step of the way with expert advice and assist you with anything you need.
We will conduct a detailed affordability assessment and provide you with an agreement in principle (AIP) certificate.
Get browsing and contact estate agents to give them an idea of the type of property you’re after. You will be equipped with your AIP to show the estate agents that you’re prepared and have a mortgage in place ready for when you’ve found your perfect home.
We will meet again and process the full application & go through all the precise details of your new mortgage. At this stage you would need to pay the £495 fee to AK Mortgages Ltd.
Once the application has been submitted we will instruct the survey for the property you are buying. Most of the time this is free but if it isn’t then we will need to pay the lender directly to get it instructed. You would also need to pay your solicitor a small part of their fee to begin the legal work and property searches on your behalf.
Once surveys are completed, your solicitor will call you to arrange a completion date. You will go into their offices to sign and exchange contracts to confirm your purchase. After this is done you are legally obliged to buy the property. You will also need buildings insurance to be arranged from this date and the solicitor would need to see proof of this.
We will meet for a final time to discuss all your insurance needs around life, critical illness & income protection. Please visit the insurance & protection tab for more details.
We are experienced mortgage brokers and our expert advice could save you thousands, whether you’re looking for your first mortgage or looking for a better rate on your current deal. We have a unique sourcing system that ensures you get the cheapest & most cost effective products across the market. We will advise & arrange the mortgage on your behalf from start to finish whilst keeping you informed every step of the way.
Our advisors are Fully CeMAP Qualified. We have over 12 years of diverse Financial Services Experience and are experts in understanding the Mortgage Market Review introduced in 2014. We offer world class customer service with continuous regular updates. Our mortgages are advised from a comprehensive range of lenders and our insurance is advised from a range of providers.
How do we offer such competitive rates? We have close links with local, recommended conveyancing solicitors and independent financial advisers. We promise to be forward thinking, innovative, holistic and offer you creative advice to best suit your financial situation.
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Fri - Sat: 10:00 AM - 4:00 PM
Your payments are guaranteed not to change for a set period of time. You can choose how long to fix for. After this your mortgage will revert to your lenders SVR.
This is your lenders ‘standard variable rate’ and is subject to change at any time they choose. You should try to avoid being on this rate as they are usually very high.
This is where your mortgage rate will move in line with the bank of England base rate (BOE). Your payments can change month by month if there is movement with the BOE.
Mortgage payments is made up of interest and capital. Your mortgage is guaranteed to be paid off in full at the end of your mortgage term.
You pay only the interest element of your mortgage. You would need a separate repayment plan to pay off the capital at the end of your mortgage term.
You are buying a property for yourself or your family to live in. This can be arranged with as little as 5% deposit.
Purchase of a property with the intention of letting/renting it. Mortgages for BTL’s usually require a 25% deposit and the rent would need to be considerably more than your mortgage payments.
When you buy any property you are required to pay a cash deposit. The higher the deposit the lower the interest rate you will get on your mortgage. This is the security the bank has against your property so the higher the deposit the lower the risk to the bank.
Your mortgage from one lender to another to get a better rate. Most lenders pay for your legal fees & survey costs to move your mortgage from your previous lender, you could also borrow extra or make any changes to your mortgage at this stage.