How much can I borrow?
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.
What do you charge?
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 £399.
However, for whatever reason should the mortgage not proceed, we’ll refund the fees in full.
What other costs do I need to be aware of?
Stamp Duty Land Tax is a fee payable if you purchase a property or land over a certain price in England (also Wales and Northern Ireland). The current threshold is £125,001 for a residential property and £150,000 for commercial land or properties.
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.
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.
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.
How often should I renew my mortgage?
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.
Why can’t I just go to my bank?
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.
I’m interested. What do I do next?
It’s easy. Just call 01323 894532 and have a chat with us.
Get in touch
Contact us to find out how our experts can help you save money on your first house or upcoming remortgage.
5 High Street,
Call: 01323 894532
Do you have questions about how Venture Mortgage Management can help you?
Send us an email and we’ll get in touch shortly.