The beginner’s guide to getting a mortgage - Yes Mortgage Services (2024)

The beginner’s guide to getting a mortgage - Yes Mortgage Services (1)

Mortgages aren’t known for being quick and easy, but they certainly don’t need to be a cause of stress.In this blog, we’ll take you through the process of getting a mortgage so that your house-buying experience will be as smooth as possible. It definitely helps to plan ahead and be prepared, while managing your expectations will save you a lot of headaches too.

1. Save up

The reason this is first on the list is that saving enough for a house deposit is not a quick process! It’s a good idea to start as soon as possible, even if you don’t see yourself owning your own home for a while. Help to Buy is a government scheme to help first time buyers save deposits for new build properties – it’s a good way of making your money go further.

Saving is not just about building up a five-figure sum for you to put down against your house. It’s also about proving to lenders that you can be responsible about your money. Mortgage lenders will want to see your bank statements – if they can see you’ve raided your precious savings for a holiday or a spending spree, they might think twice before lending you money to buy a house.

2. Are you ready to buy a house?

To answer this question, you need to do your sums. Maybe your mortgage repayments would be the same or less than your rent, but could you afford the life insurance, building and contents insurance that you would need too? Could you cover the costs your landlord used to cover, like fitting a new boiler or repairing the roof? Be honest with yourself and be realistic too – you don’t want to over-stretch yourself in the future.

Another factor is your credit rating. If you have a particularly poor credit rating or heavy debts after a bad patch, it could be worth waiting a few years for your credit score to recover. If you try and get a mortgage while your credit rating is still poor, you could end up with very expensive repayments.

3. What can you afford?

To get a mortgage, you’ll need to save a minimum of 5% of the property price. Bear in mind that the more you borrow, the more you will need to pay back. People who borrow more than 90% of the property price pose a greater risk to the lender than people who borrow less, so be prepared for higher mortgage repayments.

In 2017, the average property price for a first time buyer was just over £200,000. A 10% deposit would therefore be £20,000 and a 5% deposit would be £10,000. If you could save a percentage of your income each month, would you eventually be able to raise between £10,000 and £20,000? Would you be able to save more, or less? How much have you put aside already? Answering these questions will help you to decide what value of house you could afford.

4. Come and see a mortgage broker

Unlike high street lenders, mortgage brokers (like Yes Mortgage Services) have access to a wide range of mortgages, including ones that aren’t advertised publicly by banks and building societies. Working with a mortgage broker can be less intimidating than seeing someone at the bank – we are here for you, not for the lender. You’ve got the best chance of getting a good deal that’s right for you if you go through an independent mortgage broker.

Your mortgage broker will want to see proofs of income and expenditure (payslips, bank statements, bills etc) to show that you can afford monthly mortgage repayments. They will tell you what information they need from you. They will then show these documents to the lender who will decide whether or not to lend to you.

5. Get an Agreement in Principle

An AIP proves that a mortgage lender would be willing to lend to you in your current financial circ*mstances. It is not the same as the mortgage loan, which you will not need until you have had your house offer accepted.

This is also the point at which you should start house-hunting seriously. You don’t want to get an AIP then not put in an offer on a house until months later. Mortgage offers can change so they need to be based on current circ*mstances, not those of last year. Aim to put in an offer on a house within six weeks of getting your AIP.

6. Take out your mortgage

After your offer has been accepted, the house-buying process (conveyancing) begins, usually conducted by a solicitor. When both the buyer and the seller complete the sale, the money will be moved by the solicitor to the seller’s bank account to pay for the house. Once you’ve moved in, you can finally relax, knowing that you’ve got a house you love and mortgage repayments you can afford.

An independent mortgage broker will work for you, not the lender, to find the best mortgage for your circ*mstances. For a free, no-obligation consultation with Yes Mortgage Services, contact us today on 0800 612 5596.

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The beginner’s guide to getting a mortgage - Yes Mortgage Services (2)

Andrew Johnson

At Yes Mortgage Services, we offer a comprehensive range of products from across the market.

Irrespective of whether you are looking to buy a new home, re-mortgage an existing property, or looking to protect your family from the unpredictability that life throws at it or protect your income if you are unable to work due to accident or ill health.

Yes Mortgage Services are committed to offering you the highest possible standards of service. We can undertake the whole process from answering the initial questions through to handling multiple product applications. Ensuring that everyone gets treated with the same urgency and maintaining your best interests are our main goals irrespective of the value of the mortgage.

We recognise that both we and our customers have everything to gain if we look after your best interests and treat you fairly in all aspect of our dealings with you.

The beginner’s guide to getting a mortgage - Yes Mortgage Services (3)

Contact Us

YES Mortgage Services Limited
The Old Barn
Brooklands Farm
Mannington
Wimborne
BH21 7JU

Hours
Monday – Friday 0900 – 1700

Contacts
0800 612 5596
[emailprotected]

We don’t charge a broker fee

We are on Instagram

Having lived in Bournemouth all of his life, Ashley`s a big fan of the sun and sea 🌊⁣

When he isn’t helping clients find the right mortgage, he`s spending time with friends and family or taking his “Chief” out for a nice walk 🐶⁣

All our mortgage advisors (Ashley included) are ready to help you with moving, remortgaging, or buying your first home.⁣

💥 The best bit is we don`t charge a broker fee! Get in touch on 0800 612 5596 or send us a DM.⁣

...⁣

Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#househunter #homebuyeradvice #buyingahouse #hometips #ukhomes #mortgageoffer #propertytips #propertyfinder #ukproperty #movinghouse #buyingahouse #propertybuyers #letsbuyahouse #dreamproperty #housemove #newhome #moving #homes #foreverhome #mortgagetips #mortgageexpert #devonproperty #bournemouthbusiness #southcoastuk #mortgagebroker #mortgageuk #ringwood #hampshireuk #mortgageadviser

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The beginner’s guide to getting a mortgage - Yes Mortgage Services (4)

Having lived in Bournemouth all of his life, Ashley`s a big fan of the sun and sea 🌊⁣

When he isn’t helping clients find the right mortgage, he`s spending time with friends and family or taking his “Chief” out for a nice walk 🐶⁣

All our mortgage advisors (Ashley included) are ready to help you with moving, remortgaging, or buying your first home.⁣

💥 The best bit is we don`t charge a broker fee! Get in touch on 0800 612 5596 or send us a DM.⁣

...⁣

Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#househunter #homebuyeradvice #buyingahouse #hometips #ukhomes #mortgageoffer #propertytips #propertyfinder #ukproperty #movinghouse #buyingahouse #propertybuyers #letsbuyahouse #dreamproperty #housemove #newhome #moving #homes #foreverhome #mortgagetips #mortgageexpert #devonproperty #bournemouthbusiness #southcoastuk #mortgagebroker #mortgageuk #ringwood #hampshireuk #mortgageadviser
...

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Securing a mortgage for a non-standard property can come with its own set of challenges, like higher interest rates or larger deposit requirements. So it`s important to speak to a mortgage advisor as early as possible. ⁣

They`ll guide you through the process, provide invaluable insights, and ensure you find the most suitable deal.⁣

Our friendly mortgage advisors are on hand to connect you with accommodating lenders and help you negotiate favourable terms. And we don`t charge a broker fee!⁣

Click the link in our bio to learn more.⁣

...⁣

Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#househunter #homebuyeradvice #buyingahouse #ukhomes #mortgageoffer #propertytips #propertyfinder #houseaddictive #mortgagetips #mortgageexpert #devonproperty #bournemouthbusiness #southcoastuk #mortgagebroker #mortgageuk #ringwood #hampshireuk #mortgageadviser #nonstandardconstruction #nonstandardconstructionmortgage #listedbuilding #thatchedcottage #myoldhome

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The beginner’s guide to getting a mortgage - Yes Mortgage Services (5)

Securing a mortgage for a non-standard property can come with its own set of challenges, like higher interest rates or larger deposit requirements. So it`s important to speak to a mortgage advisor as early as possible. ⁣

They`ll guide you through the process, provide invaluable insights, and ensure you find the most suitable deal.⁣

Our friendly mortgage advisors are on hand to connect you with accommodating lenders and help you negotiate favourable terms. And we don`t charge a broker fee!⁣

Click the link in our bio to learn more.⁣

...⁣

Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#househunter #homebuyeradvice #buyingahouse #ukhomes #mortgageoffer #propertytips #propertyfinder #houseaddictive #mortgagetips #mortgageexpert #devonproperty #bournemouthbusiness #southcoastuk #mortgagebroker #mortgageuk #ringwood #hampshireuk #mortgageadviser #nonstandardconstruction #nonstandardconstructionmortgage #listedbuilding #thatchedcottage #myoldhome
...

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Did you know that the length of your mortgage can make a big difference to your monthly payments and overall costs? ⁣

Let`s break it down 👇⁣

If you choose a longer term, your repayments will be spread out over a longer period, making them more manageable. ⁣

But this may mean paying more interest over the life of your mortgage.⁣

Opting for a shorter term may result in higher monthly payments.⁣

But could save you money on interest in the long run.⁣

So, what`s the best mortgage term for you? ⁣

It all depends on your specific financial situation and goals. Seeking expert advice is always recommended to make sure you`re making the right choice.⁣

Tap follow for more mortgage tips.⁣

...⁣


Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#househunter #homebuyeradvice #buyingahouse #hometips #ukhomes #mortgageoffer #propertytips #propertyfinder #houseaddictive #ukproperty #movinghouse #buyingahouse #propertybuyers #letsbuyahouse #dreamproperty #housemove #newhome #moving #homes #foreverhome #mortgagetips #mortgageexpert #devonproperty #bournemouthbusiness #southcoastuk #mortgagebroker #mortgageuk #ringwood #hampshireuk #mortgageadviser

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The beginner’s guide to getting a mortgage - Yes Mortgage Services (6)

Did you know that the length of your mortgage can make a big difference to your monthly payments and overall costs? ⁣

Let`s break it down 👇⁣

If you choose a longer term, your repayments will be spread out over a longer period, making them more manageable. ⁣

But this may mean paying more interest over the life of your mortgage.⁣

Opting for a shorter term may result in higher monthly payments.⁣

But could save you money on interest in the long run.⁣

So, what`s the best mortgage term for you? ⁣

It all depends on your specific financial situation and goals. Seeking expert advice is always recommended to make sure you`re making the right choice.⁣

Tap follow for more mortgage tips.⁣

...⁣


Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#househunter #homebuyeradvice #buyingahouse #hometips #ukhomes #mortgageoffer #propertytips #propertyfinder #houseaddictive #ukproperty #movinghouse #buyingahouse #propertybuyers #letsbuyahouse #dreamproperty #housemove #newhome #moving #homes #foreverhome #mortgagetips #mortgageexpert #devonproperty #bournemouthbusiness #southcoastuk #mortgagebroker #mortgageuk #ringwood #hampshireuk #mortgageadviser
...

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Did you know this about private medical insurance? 👇⁣

It can give you access to specialist drugs and treatments that are not always available on the NHS or within your budget. ⁣

And it provides you with the comfort and reassurance you need if your health takes an unexpected turn. All the way from your initial consultation right through to your aftercare.⁣

There`s a wide range of health insurance products to choose from. Let us help you find the right policy for you.⁣

Tap the link in our bio or call us on 0800 612 5596 ⁣

...⁣

#insuranceadvisor #parentingtipsandtricks #insurancequotes #nuffield #insurancetips #lifehacking #lovetohome #ukinsurance #healthinsurance #privatehospital #insurancepolicy #homeownersinsurance #insuranceexpert #insurance #insurancebroker #medicalinsurance #lifetips #healthcare #hometips #insuranceprotection #lifehacks #homeadvice #privatedoctor #financialtips #privatehealthcare #healthandwellbeing #wellness

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The beginner’s guide to getting a mortgage - Yes Mortgage Services (7)

Did you know this about private medical insurance? 👇⁣

It can give you access to specialist drugs and treatments that are not always available on the NHS or within your budget. ⁣

And it provides you with the comfort and reassurance you need if your health takes an unexpected turn. All the way from your initial consultation right through to your aftercare.⁣

There`s a wide range of health insurance products to choose from. Let us help you find the right policy for you.⁣

Tap the link in our bio or call us on 0800 612 5596 ⁣

...⁣

#insuranceadvisor #parentingtipsandtricks #insurancequotes #nuffield #insurancetips #lifehacking #lovetohome #ukinsurance #healthinsurance #privatehospital #insurancepolicy #homeownersinsurance #insuranceexpert #insurance #insurancebroker #medicalinsurance #lifetips #healthcare #hometips #insuranceprotection #lifehacks #homeadvice #privatedoctor #financialtips #privatehealthcare #healthandwellbeing #wellness
...

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Did you know a remortgage could allow you to...⁣

👉🏻 Borrow more money ⁣

👉🏻 Achieve a better mortgage rate⁣

👉🏻 Change the type of mortgage (from interest only to repayment)⁣

👉🏻 Avoid your lender`s standard variable rate⁣

👉🏻 Switch to a mortgage that will allow you to make overpayments⁣

👉🏻 Debt consolidation ⁣

Whatever your reason for remortgaging, our friendly advisors are here to evaluate your unique situation and guide you through your options.⁣

And the best bit? Our advice is FREE!⁣

Send us a message or give us a call on 0800 612 5596 to discuss your remortgage options.⁣

...⁣

Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#budgetingtip #homeownerlife #homeownertips #moneysmart #homeownergoals #homeownerlife #moneymanagementtips #refinanceyourmortgage #refinancemortgage #homeowner #remortgages #mortgageuk #homeownertips #houseaddictive #financialeducation #remortgageuk #propertyeducation #housetips #homesweethome #mortgageadvice #ukmortgages #mortgagespecialists #mortgages #hampshirebusiness #ukmortgage #mortgagesuk #wellingtonsomerset #mortgageexperts #westcountry #mortgage

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The beginner’s guide to getting a mortgage - Yes Mortgage Services (8)

Did you know a remortgage could allow you to...⁣

👉🏻 Borrow more money ⁣

👉🏻 Achieve a better mortgage rate⁣

👉🏻 Change the type of mortgage (from interest only to repayment)⁣

👉🏻 Avoid your lender`s standard variable rate⁣

👉🏻 Switch to a mortgage that will allow you to make overpayments⁣

👉🏻 Debt consolidation ⁣

Whatever your reason for remortgaging, our friendly advisors are here to evaluate your unique situation and guide you through your options.⁣

And the best bit? Our advice is FREE!⁣

Send us a message or give us a call on 0800 612 5596 to discuss your remortgage options.⁣

...⁣

Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#budgetingtip #homeownerlife #homeownertips #moneysmart #homeownergoals #homeownerlife #moneymanagementtips #refinanceyourmortgage #refinancemortgage #homeowner #remortgages #mortgageuk #homeownertips #houseaddictive #financialeducation #remortgageuk #propertyeducation #housetips #homesweethome #mortgageadvice #ukmortgages #mortgagespecialists #mortgages #hampshirebusiness #ukmortgage #mortgagesuk #wellingtonsomerset #mortgageexperts #westcountry #mortgage
...

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Buying a home can seem an impossible dream at times. But there is help available. Swipe for some of the schemes and initiatives in England that can pave the path to your very own home 🏡⁣

Do you know someone wanting to get onto the property ladder? Share this with them!⁣

...⁣

#affordablehomeownershipschemes #affordablehomes #sharedownership #helptobuy #depositunlock #renttobuy #propertyladder #firsthome #homebuyertip #firsthomes #firstimehomebuyer #househunting #myfirsthouse #buyingahouse #firsttimebuyer #firsttimebuyeruk #ukmortgages #mortgagespecialists #mortgages #hampshirebusiness #ukmortgage #mortgagesuk #wellingtonsomerset #mortgageexperts #westcountry #mortgage

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The beginner’s guide to getting a mortgage - Yes Mortgage Services (9)

Buying a home can seem an impossible dream at times. But there is help available. Swipe for some of the schemes and initiatives in England that can pave the path to your very own home 🏡⁣

Do you know someone wanting to get onto the property ladder? Share this with them!⁣

...⁣

#affordablehomeownershipschemes #affordablehomes #sharedownership #helptobuy #depositunlock #renttobuy #propertyladder #firsthome #homebuyertip #firsthomes #firstimehomebuyer #househunting #myfirsthouse #buyingahouse #firsttimebuyer #firsttimebuyeruk #ukmortgages #mortgagespecialists #mortgages #hampshirebusiness #ukmortgage #mortgagesuk #wellingtonsomerset #mortgageexperts #westcountry #mortgage
...

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Andrew, the Director of Yes Mortgage Services is out of office this week networking! (That`s what he has told the wife!) We think this looks more like skiing... #networking #skiing2024 #mortgages

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The beginner’s guide to getting a mortgage - Yes Mortgage Services (10)

Andrew, the Director of Yes Mortgage Services is out of office this week networking! (That`s what he has told the wife!) We think this looks more like skiing... #networking #skiing2024 #mortgages...

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We like to keep the mortgage process easy & simple...⁣

👉 Busy schedule? No problem! We offer appointments outside normal working hours.⁣

👉 No complicated mortgage jargon! We break everything down in plain and simple terms.⁣

👉 From finding the perfect mortgage to guiding you until completion, we`re by your side.⁣

Visit our website to learn more (🔗 in bio) or call us for a chat on 0800 612 5596.⁣

...⁣


Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#househunter #homebuyeradvice #buyingahouse #hometips #ukhomes #mortgageoffer #propertytips #propertyfinder #ukproperty #movinghouse #buyingahouse #propertybuyers #letsbuyahouse #dreamproperty #housemove #newhome #moving #homes #foreverhome #mortgagetips #mortgageexpert #devonproperty #bournemouthbusiness #southcoastuk #mortgagebroker #mortgageuk #ringwood #hampshireuk #mortgageadviser

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The beginner’s guide to getting a mortgage - Yes Mortgage Services (11)

We like to keep the mortgage process easy & simple...⁣

👉 Busy schedule? No problem! We offer appointments outside normal working hours.⁣

👉 No complicated mortgage jargon! We break everything down in plain and simple terms.⁣

👉 From finding the perfect mortgage to guiding you until completion, we`re by your side.⁣

Visit our website to learn more (🔗 in bio) or call us for a chat on 0800 612 5596.⁣

...⁣


Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#househunter #homebuyeradvice #buyingahouse #hometips #ukhomes #mortgageoffer #propertytips #propertyfinder #ukproperty #movinghouse #buyingahouse #propertybuyers #letsbuyahouse #dreamproperty #housemove #newhome #moving #homes #foreverhome #mortgagetips #mortgageexpert #devonproperty #bournemouthbusiness #southcoastuk #mortgagebroker #mortgageuk #ringwood #hampshireuk #mortgageadviser
...

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Mortgages shouldn’t be complicated just because you’re self-employed.⁣

But high street lenders tend not to offer mortgages to the self-employed without considerable paperwork and delay, so finding the right mortgage for your circ*mstances can be daunting 🤯⁣

We have access to a wide range of lenders and understand the specifics that each mortgage lender has when it comes to getting a self-employed mortgage.⁣

Meaning we can match you to an appropriate lender for your circ*mstances and needs 🎯⁣

And the best bit? We don`t charge a broker fee, so our advice is free! ⁣

Send us a DM or call us on 0800 612 5596 to book your appointment.⁣

...⁣

Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#mortgageexpert #devonproperty #bournemouthbusiness #southcoastuk #mortgagebroker #mortgageuk #ringwood #hampshireuk #mortgageadviser #selfemployedandlovingit #selfemployment #soletrader #mortgagepro #selfemployedproblems #freelancerlife

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The beginner’s guide to getting a mortgage - Yes Mortgage Services (12)

Mortgages shouldn’t be complicated just because you’re self-employed.⁣

But high street lenders tend not to offer mortgages to the self-employed without considerable paperwork and delay, so finding the right mortgage for your circ*mstances can be daunting 🤯⁣

We have access to a wide range of lenders and understand the specifics that each mortgage lender has when it comes to getting a self-employed mortgage.⁣

Meaning we can match you to an appropriate lender for your circ*mstances and needs 🎯⁣

And the best bit? We don`t charge a broker fee, so our advice is free! ⁣

Send us a DM or call us on 0800 612 5596 to book your appointment.⁣

...⁣

Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#mortgageexpert #devonproperty #bournemouthbusiness #southcoastuk #mortgagebroker #mortgageuk #ringwood #hampshireuk #mortgageadviser #selfemployedandlovingit #selfemployment #soletrader #mortgagepro #selfemployedproblems #freelancerlife
...

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There`s no one-size-fits-all calculation to determine how much you can borrow. It depends on several factors:⁣

👉 The cost of the property you`re looking to purchase.⁣

👉 The size of your deposit.⁣

👉 Your income and financial affordability, which considers your monthly commitments and any future obligations.⁣

These factors, combined, will determine your eligibility and help shape the amount you can borrow. ⁣

We know navigating the mortgage process can be overwhelming, but we`re here to lend a hand. Our friendly advisors can help you understand your eligibility and guide you towards making informed decisions about your mortgage. ⁣

Our advice to you is FREE, so get in touch for a chat - call us on 0800 612 5596 or visit our website to learn more.⁣

...⁣


Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#propertyladder #familyhome #housebuyingtips #movinghomes #solobuyer #timeforachange #houses #homebuyers #propertyuk #movinghouse #buyingahouse #propertybuyers #letsbuyahouse #dreamproperty #housemove #newhome #moving #homes #foreverhome

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Open

The beginner’s guide to getting a mortgage - Yes Mortgage Services (13)

There`s no one-size-fits-all calculation to determine how much you can borrow. It depends on several factors:⁣

👉 The cost of the property you`re looking to purchase.⁣

👉 The size of your deposit.⁣

👉 Your income and financial affordability, which considers your monthly commitments and any future obligations.⁣

These factors, combined, will determine your eligibility and help shape the amount you can borrow. ⁣

We know navigating the mortgage process can be overwhelming, but we`re here to lend a hand. Our friendly advisors can help you understand your eligibility and guide you towards making informed decisions about your mortgage. ⁣

Our advice to you is FREE, so get in touch for a chat - call us on 0800 612 5596 or visit our website to learn more.⁣

...⁣


Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#propertyladder #familyhome #housebuyingtips #movinghomes #solobuyer #timeforachange #houses #homebuyers #propertyuk #movinghouse #buyingahouse #propertybuyers #letsbuyahouse #dreamproperty #housemove #newhome #moving #homes #foreverhome
...

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Home will always be where mum is. But if it`s time to take your own steps onto the property ladder, we`re here to help.⁣

Our friendly mortgage advisors are always available to chat, listen to your goals, and discuss your options. We`ll provide you with expert advice on how you can prepare yourself to step onto the property ladder with confidence 💪🏡⁣

The best bit is we don`t charge a broker fee, so our advice to you is FREE!⁣

Tap the link in our bio to find out more, or give us a call on 0800 612 5596⁣

...⁣


Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#myfirsthome #firsthome #firsttimebuyertips #firsttimebuyersuk #househunters #letsbuyahouse #homebuyer #firstimehomebuyers #homebuyersguide #firsthouse #firsttimebuyerspecialist #firsthometogether #firsttimehomebuyertips #firstimebuyer #firsttimebuyersuk #homebuyingprocess #homeownership #firsttimehomebuyer #followyourdreams #propertyeducation

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The beginner’s guide to getting a mortgage - Yes Mortgage Services (14)

Home will always be where mum is. But if it`s time to take your own steps onto the property ladder, we`re here to help.⁣

Our friendly mortgage advisors are always available to chat, listen to your goals, and discuss your options. We`ll provide you with expert advice on how you can prepare yourself to step onto the property ladder with confidence 💪🏡⁣

The best bit is we don`t charge a broker fee, so our advice to you is FREE!⁣

Tap the link in our bio to find out more, or give us a call on 0800 612 5596⁣

...⁣


Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#myfirsthome #firsthome #firsttimebuyertips #firsttimebuyersuk #househunters #letsbuyahouse #homebuyer #firstimehomebuyers #homebuyersguide #firsthouse #firsttimebuyerspecialist #firsthometogether #firsttimehomebuyertips #firstimebuyer #firsttimebuyersuk #homebuyingprocess #homeownership #firsttimehomebuyer #followyourdreams #propertyeducation
...

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Arranging a mortgage or organising personal finances can be time-consuming and stressful.⁣

But we`re here to make it as painless as possible!⁣

👉🏻 Before recommending a mortgage, we take the time to understand your individual needs and circ*mstances.⁣

👉🏻 We`ll only suggest mortgages that we consider suitable and affordable for you.⁣

👉🏻 If we can`t find a suitable mortgage, we won`t recommend one.⁣

👉🏻 We encourage you to ask any questions you have – no question is too silly.⁣

👉🏻 From start to finish, we`ll handle the entire process, from answering initial questions to managing multiple applications.⁣

👉🏻 Best of all, we won`t charge you a broker fee!⁣


Visit our website to learn more (🔗 in bio) or call us for a chat on 0800 612 5596.⁣

...⁣

Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#househunter #homebuyeradvice #buyingahouse #hometips #ukhomes #mortgageoffer #propertytips #propertyfinder #ukproperty #movinghouse #buyingahouse #propertybuyers #letsbuyahouse #dreamproperty #housemove #newhome #moving #homes #foreverhome #mortgagetips #mortgageexpert #devonproperty #bournemouthbusiness #southcoastuk #mortgagebroker #mortgageuk #ringwood #hampshireuk #mortgageadviser

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The beginner’s guide to getting a mortgage - Yes Mortgage Services (15)

Arranging a mortgage or organising personal finances can be time-consuming and stressful.⁣

But we`re here to make it as painless as possible!⁣

👉🏻 Before recommending a mortgage, we take the time to understand your individual needs and circ*mstances.⁣

👉🏻 We`ll only suggest mortgages that we consider suitable and affordable for you.⁣

👉🏻 If we can`t find a suitable mortgage, we won`t recommend one.⁣

👉🏻 We encourage you to ask any questions you have – no question is too silly.⁣

👉🏻 From start to finish, we`ll handle the entire process, from answering initial questions to managing multiple applications.⁣

👉🏻 Best of all, we won`t charge you a broker fee!⁣


Visit our website to learn more (🔗 in bio) or call us for a chat on 0800 612 5596.⁣

...⁣

Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

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The beginner’s guide to getting a mortgage - Yes Mortgage Services (2024)

FAQs

What can stop me getting a mortgage? ›

Common reasons for a declined mortgage application and what to do
  • Poor credit history. ...
  • Not registered to vote. ...
  • Too many credit applications. ...
  • Too much debt. ...
  • Payday loans. ...
  • Administration errors. ...
  • Not earning enough. ...
  • Not matching the lender's profile.

At what stage do you get a mortgage offer? ›

It will typically take up to 14 days from submission of your mortgage application to get a mortgage deal approved. You should expect to wait up to another two weeks to receive the lenders formal mortgage offer. So from application to offer is typically two to four weeks.

How easy is it to get a mortgage? ›

How easy is it to get approved for a mortgage? This all depends on your personal and financial circ*mstances, including if you already have an existing mortgage. Factors such as deposit, credit history, debt and income all play a large role in you being approved for a mortgage.

What happens after my mortgage is approved? ›

What happens after receiving a mortgage offer? A mortgage offer means your application has been accepted by a lender. After the offer, you'll sign a contract with your lender to let them know you're happy with it, then your conveyancer can start the legal work.

Can you be denied a mortgage after being pre approved? ›

However, even though prospective homebuyers get pre-approved for a mortgage before shopping for homes, there's no 100% guarantee they'll successfully get financing. Mortgages can get denied and real estate deals can fall apart — even after the buyer is pre-approved.

What credit score do you need to get a mortgage? ›

Credit score and mortgages

The minimum credit score needed for most mortgages is typically around 620. However, government-backed mortgages like Federal Housing Administration (FHA) loans typically have lower credit requirements than conventional fixed-rate loans and adjustable-rate mortgages (ARMs).

How long does it take to be approved for a mortgage? ›

From application to approval and closing, getting a mortgage can take anywhere from 30 days to 60 days. However, some home purchases can take longer, depending on factors unique to the purchase transaction and the home loan processing time.

How long does it take to get a mortgage offer after accepting it? ›

After receiving a mortgage offer, review and accept it, ensuring you're satisfied with the terms. Consult your solicitor or broker if needed. Exchange contracts and complete conveyancing. Completion typically occurs 1-3 months later, and you can collect keys and move in.

How long before buying a house should I start looking? ›

As a general guideline, it's advised to start house hunting five to six months before you want to move in. This might seem like a long time, but there's plenty to do. Now, remember, depending on various factors, including the state of the market's, the process may take longer.

Who is easiest to get a mortgage from? ›

What mortgage lenders are available if I have a low credit score?
  • Vida Homeloans. ...
  • Kensington Mortgages. ...
  • MBS Lending. ...
  • Buckingham Building Society. ...
  • Aldermore. ...
  • Kent Reliance. ...
  • Darlington Building Society. ...
  • Foundation Home Loans.

What is the easiest type of mortgage to get? ›

If your credit or down payment prevents you from qualifying for a conventional loan, an FHA loan can be an attractive alternative. Likewise, if you're buying a home in a rural area or are eligible for a VA loan, these options might be easier to qualify for.

At what age is it harder to get a mortgage? ›

The upshot is that if you're over the age of 62, you're almost 30% more likely to get rejected for a standard mortgage.

Can anything go wrong after mortgage offer? ›

Yes, a mortgage offer can be revoked by the provider at any time after it's been issued. Make sure you thoroughly read all the information you receive with your mortgage offer, as there should be a section detailing the circ*mstances in which it may be withdrawn.

Can you use credit card after mortgage offer? ›

It's best to wait at least a full business day after completing on the property before applying for any new credit cards. This waiting period ensures that there are no changes to your credit profile that could affect your mortgage.

How do I know my mortgage is approved? ›

A mortgage offer is a confirmation that your application for a mortgage has been checked and approved, marking a significant milestone in the home-buying process. It's the green light from a lender that says, "Yes, we will lend you the money to buy your home."

Do people get denied for mortgages? ›

Home loan denial happens, but it doesn't mean you can never be a homeowner. There are many reasons why a lender may not have approved your loan. But, the key to success is understanding the reason(s) why and what you can do to correct the problem.

Why is it so hard to get a mortgage? ›

Getting a mortgage can be a challenge, even in the best of times, with piles of required documentation, repeated verifications of things like employment and assets, and very strict rules about how much debt you can carry.

Can I be denied a mortgage loan? ›

Lenders turn down mortgage applications for any number of reasons, from bad credit to a recent job change. It doesn't mean you have to throw in the towel on your dream of homeownership, though. Figuring out why you were denied and how to address the problem can improve your chances next time.

How much is too much debt for a mortgage? ›

Debt-to-income ratio targets

Meanwhile, any ratio above 43% is considered too high. The biggest piece of your DTI ratio pie is bound to be your monthly mortgage payment. The National Foundation for Credit Counseling recommends that the debt-to-income ratio of your mortgage payment be no more than 28%.

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