The majority of lenders will use an affordability calculator.  Some still make use of a more traditional income multiple base lending calculation.

As this is a major financial commitment, we’ll only recommend a mortgage you can realistically afford.  Lenders’ criteria can vary so let Venture Mortgage Management help you work this out.

Broker Fee

We aim to offer top quality advice to save you money, time and hassle and can really add value.  We therefore levy a broker fee upon full mortgage application.  We’ll let you know in advance what this will be but on average we charge between £199 and £599.

However, for whatever reason should the mortgage not proceed, we’ll refund the fees in full.

Stamp duty

Most property transactions in the UK will trigger a stamp duty liability, how much you have to pay depends on the value of the property as well as other factors such as if you’re a first time buyer or if the property is for investment purposes. To work out how much you’ll pay we recommend visiting www.stampdutycalculator.org.uk 

Solicitors’ fees

You will normally need to refer to a conveyancing solicitor to take care of the legal paperwork.  They can also carry out local searches to check whether there are any local plans or problems.

Surveys

A Homebuyer report is a straightforward option and will be suitable if you plan to purchase a property which appears to be in a good condition, perhaps (but not always) a modern flat or house which has had little alteration since its construction.  It will give you guidance on the state of the property and any likely ongoing maintenance needs.

A full structural survey entails a more detailed inspection and assessment of the exterior and interior of a building’s structure.  This sort of report is recommended if the property is old or if it has had (or you intend to make) extensive structural alterations.  Again, it will highlight the condition of the property, advise on defects, repairs and likely future maintenance.

Valuation fees are required by the mortgage lender and enable the lender to confirm its market value and whether the property is adequate security for the loan.

Mortgage costs

Obviously, you will need to consider the loan re-repayments, plus your incomings and outgoings.  Here at Venture Mortgage Management we help you work out what these are so that you’re fully aware of what you can afford.

It will depend on the product.  Generally, you should start looking around six months before the end of the initial benefit period.

At Venture Mortgage Management, we’ll contact you pro-actively to discuss your renewal options.  We may be able to secure a renewal deal that better suits your needs, is more flexible and has a better interest rate.

Well, you can. But…banks will only offer their own range of products.  With Venture Mortgage Management, we have access to a comprehensive range financial products from a leading panel of lenders and providers.  You get more choice.  You will most likely get a better deal.

It’s easy.  Just call 01323 894532 and have a chat with us.