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Getting a mortgage in Peterborough with credit issues

Worried if you can get a mortgage for your first home in Peterborough due to your credit score? At The Mortgage Broker, we have years of experience supporting people across Peterborough to buy a home and secure a mortgage whatever their credit score. Our mortgage advisers will call you to understand your credit situation and what you’re hoping to borrow to buy your first home. We can help you to check your credit score and understand what this means for borrowing. If you have defaulted on a payment in the last 12 months or have a really poor credit score, you may struggle to find a lender but we can advise you on how to improve your rating so you can borrow in the future. We save you time by searching across a wide market to see which lenders will give you a mortgage and advise you on the best deal for you. And if you decide to make the move for your first home in Peterborough, we’ll guide you through the whole process from applying to starting your mortgage when you collect your keys. Give Gio a call today on 01733 306226 for a free, no-obligation chat on how you can buy your first home in Peterborough whatever your credit rating.

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Can I get a mortgage if I’m self-employed?

Getting a mortgage or re-mortgaging when you’re self-employed in Peterborough can be a minefield. Some high-street lenders will want three years of accounts before they will consider you for a mortgage. Here at The Mortgage Broker we’ve helped hundreds of self-employed people in Peterborough to get a mortgage. We have access in minutes to a wide range of lenders across the market, saving you time and effort shopping around. Each lender looks at self-employed people differently – some will want a year of accounts while others want more. We can give you a quick view of what the market offers and advise on the best deal for your situation. We will support you through the whole process from understanding who will lend to you, what the best terms are to working through all the documentation needed.  call today on 01733 306226 for a free, no-obligation chat on how you can buy a home or remortgage in Peterborough when you’re self-employed.

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Five things first time buyers in Peterborough need to know

Here at The Mortgage Broker, we get a lot of enquiries from first time buyers looking to buy a home and take on their first mortgage in Peterborough. Our mortgage adviser Gio talks through the five most common questions.

  1. Can I get a mortgage?
We start by asking first time buyers in Peterborough what their employment situation is. We need to know if you’re in permanent employment, contract working, on probation or self-employed. There are lenders across the market whatever your employment status, but this helps us to find the right mortgage deal for you.
  1. How much can I borrow?
This will depend on your income, the term or length of mortgage deal, plus how much you can afford to pay back on your monthly bills. We always talk this through with first time buyers, so we get a picture of how much you can spend on your Peterborough home.
  1. How much will my monthly cost be?
The monthly mortgage cost is calculated based on how much you have borrowed and the length of the mortgage term. It is also linked to whether you decide on a repayment or interest-only mortgage. We look at deals across the market to give you a clear picture of your options and to ensure your mortgage is affordable for you.
  1. Will my credit score effect my mortgage?
All lenders will run a check on your credit score to see if you’re a risk to lend to. Even if your credit score is high, there are things you can do to improve it and we’ll advise you on this. An important part of what we do for first time buyers is that we can work with lenders to get you a mortgage agreement in principle, without impacting on your credit score.
  1. How much deposit do I need?
As a starting point you can potentially obtain a mortgage deal with a 5% deposit and there are help to buy schemes that we can advise on. The greater the deposit you have, the better mortgage interest rate you can potentially access depending on your particular situation. As always, we will look at a range of lenders to give you the best offers. Call 01733 306226 for a free, no-obligation chat on how you can buy your first home in Peterborough.  

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Remortgages – Peterborough

Your Remortgage in Peterborough As the mortgage market remains fluid and ever-changing, many borrowers are opting to remortgage every couple of years so as to benefit from the new rates that are available to them.  If you opt not to take advantage of a new deal and to stick with what you currently have for the duration of your mortgage then you could be missing out on the chance to reduce the overall amount you are going to have to pay back. In some cases this can be a large amount so why not have a look in to a remortgage?  

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First Time Buyers – Peterborough

Top Tips for First Time Buyers Peterborough If you're reading this, then buying your first home is probably quite high on the list of your 5-year plan. But how do you go about connecting the dots from those initial savings to eventually signing the contract for your first time buyer mortgage Peterborough? Here are some handy tips to get you started!  

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First Time Buyer Mortgages in Peterborough

For those of you looking to buy your first home in or around the Peterborough area, you are probably facing the common circumstances of trying to save every last penny and to not get lured in by the temptation of Friday night takeaways, drinks with friends and sunny days out. And so you sit at home, convincing yourself that all of this is worth it and you will get your dream home, it’s just a matter of patience! Whilst this mindset is ideal, here are a few options that you may not have stumbled across, that have the potential to accelerate your quest for your first time buyer mortgage.  

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First Time Buyer Mortgage Guide Peterborough

A Guide for Your First Time Buyer Mortgage in Peterborough

Your first time buyer mortgage is just one part of the puzzle and something that needs to be considered properly. This post briefly covers some of those considerations.  

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Interest Only Mortgages Peterborough

Is an Interest Only Mortgage in Peterborough the Ideal Mortgage Scheme for You?

An interest only mortgage is a mortgage scheme that allows you to pay just the interest that is accrued on your mortgage. This means that when you are making your monthly repayments, these will only go towards paying the interest off and subsequently means that you will need to make alternative arrangements for repaying the bulk (capital) of your mortgage, aka the sum that you have borrowed to buy your property.  

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Buy to Let Mortgages Peterborough & Cambridgeshire

Are You Interested in a Buy To Let Mortgage in the Peterborough Area?

As the demand within the renters market becomes ever greater, there must be landlords out there ready to fulfil the demands. If you are interested in buying a property which is intended for rental purposes then a buy to let mortgage is going to be the scheme for you.  

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Is a Fixed Rate Mortgage in Peterborough the Right Option For You?

Fluctuations in mortgage rates are not uncommon, which means that it is crucial to stay on the ball and monitor these changes. This can be quite time consuming as there is a vast choice of mortgages and providers, each putting their own twist on the standard mortgage product.  

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