Mortgage FAQs

Why use a mortgage intermediary as an advisor? 

With so many banks and lenders offering mortgages, it can be hard to choose which one to go with.  

Here are some advantages of using a mortgage intermediary such as Cleere Mortgages:

• We have years of experience and know to present your application to the lenders

• We will source the mortgage market for you and get the best rate and mortgage to suit your needs

• We are impartial and unbiased and not affiliated to any one lender

• We will look after all the paperwork for you and save you time

• We are accessible at every stage of the mortgage process via a meeting/zoom or phone call

What will the Mortgage Broker take into consideration as part of your application?

Your savings
It is useful to set up a regular savings account to save your deposit. This has the added benefit of showing your ability to save money each month. 

Your day-to-day finances
Make sure you manage your accounts so that you don’t go over your credit limit – banks like to see that you have been managing your finances effectively for a period of time before you apply for your mortgage.

Your other borrowings
It’s a good idea to pay down credit cards and personal loans, if you have any, as much as possible, as additional borrowing could affect the amount you can borrow for your mortgage.

Additional costs
You will need to show how you can cover additional costs such as stamp duty, legal fees and any additional expenses that might be required to make your new property habitable.

If I rent will the Mortgage Broker take the rental payments I have made into account?

Yes,  we will take into account the monthly rental payments you have made – it demonstrates your ability to support this level of monthly repayments. You should arrange to pay your rent through your bank account – even if you are living at home and making a contribution to the household. This is the best way to demonstrate regular rent payments over a period.

Do I need to be employed to apply for a Mortgage?

You will need to be employed or self-employed to qualify for a mortgage. This will help to ensure you can manage your mortgage repayments ging forward.

Do I always need to take out a Life Cover with a mortgage?

 When you take out a mortgage, your lender needs to be sure that you'll be able to pay it back, even if you lose your job, become unwell for a long period or die. Because of this, lenders will request you buy life cover when you take out your mortgage.

 Talk to us about Starting Your Mortgage today