How do you get a mortgage ?

I have a question that I cant seem to find a clear answer to. Where do you start qhen you are looking to get a mortgage? Do you walk into your bank and straight up ask? If so what exactly do you say. I just dont have a clue where to start. I have a decent deposit and earn a decent wage, enough to buy a flat, but I just dont know where to start. Thank you for any advice 

5 Answers

  • Maxi
    Lv 7
    1 month ago

    You can call into your bank ( or any other high st bank) who only use their own mortgage options or you can go and speak to an independant mortgage adviser ( who has more mortgage options available to them than the public do)

    You are looking to purchase a property and want to ask about mortgage options available....  the basics are you need to earn x3 the amount in salary you would like to buy and have at least 10/20% saved as a deposit and  proof of consistant employment, some want at least 6 months proof, some want up to 2years proof of consistant employment with the same employer.

  • 1 month ago

    Start by Googling Halifax.   Their rates are the benchmark.  Then Google 'mortgage best buys' to see if there are others that have more favourable offerings.  If you are a first time buyer you may also qualify for some taxpayer assistance.  Go as far out as you can on a fixed term.  Your bank is unlikely to be the cheapest but asking is free. 

    Stay away from mortgage brokers, they are for people whose finances are not good enough to qualify for a normal mortgage. 

    I have never bothered to pre-qualify but you can if you want to know how much you will be able to borrow.

  • 1 month ago

    You can do your bank, or use a broker who can check multiple places.  

  • 1 month ago

    Make an appointment at a bank to talk about it.  They will walk you through the process.  You can also check with credit unions.

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  • Anonymous
    1 month ago

    mortgage broker. 

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