5 Mortgage Myths Debunked

"I receive benefits so I cannot get a mortgage"

Many lenders will consider applicants with benefit income. Depending on which benefits you receive, some lenders will take up to 100% into affordability.

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"I have a joint mortgage with my partner but we have split so I am no longer responsible for paying the mortgage"

Both of you will remain liable for the debt and both of your credit scores will be impacted if you do not keep up your payments. We always advise to try and keep paying the full mortgage amount and speak to us as soon as possible so we can see if you can take over the mortgage in your sole name if this is something you would rather do, as apposed to selling the property.

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"I need a high deposit to secure a mortgage"

Although a larger deposit is often favorable there are many lenders who will accept a small deposit such as 5%. Sometimes if you have adverse credit, lenders may ask for a higher deposit amount from you however you will never know unless you try so contact us and we can find out for you!

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"I have missed multiple payments before so I know they will not accept me"

Although you have missed payments there are many lenders who will still accept these depending on how many, when they were and the reason for these. We see clients who are in this position often and we can still find a lender to accept them so do not let this stop you!

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"I am self employed and my income is irregular so it would be a nightmare trying to find a lender who will offer me a mortgage"

Self employed does include more rigorous checks however there are many lenders who we can approach. Lenders will look at your income over an extended period to obtain an average. We can streamline all the lenders who would accept you to find the one offering the best deal for you.