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A question that we regularly get from customers, is how much will their process actually cost? Generally speaking, first time buyers in Derby are the ones who reach out to ask this question the most.
Because of this, we have put together a handy list of the different fees you can expect to pay throughout your mortgage journey, and the different points at which they become payable.
Estate agent fees will generally only be payable if you are selling a home. With general interest in online estate agents on the rise constantly, you can sell your home with much lower fees on a basic Rightmove listing.
On the other hand, if you are looking for a more localised and personal service provided by a dedicated sales negotiator in a local branch, you will be looking at a fee somewhere around 1-2%.
Your mortgage lender will require that you have a valuation carried out on your new home. This is to determine the value of said property, to confirm that it is worth the amount you’re looking to borrow.
The costs of a valuation can vary from nothing at all (for a basic valuation with some lenders), all the way up to well over £100 for a much more detailed Home Buyers’ Report. A full Building Survey can potentially cost more than that.
Really, being able to choose which report you would like is the key here. The valuation you decide will vary based on the age and type of the property you’re looking to buy, as well as any concerns you have.
If it’s a newer property, you may want a basic valuation. If you are buying a period property, you’ll probably want a more in-depth report.
For more information regarding the different types of property surveys, check out our article here.
Some of the mortgage products that you will find, will have cheaper rates. Occasionally though, the arrangement fee can outweigh how cheap it is.
This isn’t always the case, as there are products that won’t have a fee, meaning they cost nothing. That being said though, some might have a fee and they could be quite costly, depending on your lender or product.
You may have the choice to either add these to your mortgage balance or pay these upfront. If you add these to your mortgage, you may incur additional interest charges.
You will need to hire the services of a solicitor, and the fees for these can be very different depending on who you speak to. With a local company and a straightforward property purchase, you may find it’ll be around the mid hundreds.
When dealing with a solicitor, you will need to give them your property address. This will apply whether leasehold or freehold. In order to obtain a quotation, they’ll also need to know the purchase price.
The key points to cover when asking for a quote are:
You may need to pay an extra tax on your home, which your solicitor will collect on the completion of your purchase of the property. Further details about who this applies to can be found here: https://www.gov.uk/stamp-duty-land-tax.
A trusted and experienced mortgage broker in Derby will typically charge their own service fee. The fee amount will vary depending on the case and the mortgage advisor.
The cost of removing your furniture from your home can vary depending on who you use and the service you are looking for. Hiring a van to do it yourself may be a cheaper option than hiring a removal service, though they will be more efficient.
To learn more about your mortgage options or to get started on your mortgage process, book your free mortgage appointment to speak with one of our mortgage advisors in Derby today. We usually have a great selection of appointments available, at times that are convenient for you.
Here at Derbymoneyman, we find the two questions First Time Buyers and Home Movers in Derby commonly ask us is ‘Can I get a mortgage in my circumstance?’ and ‘How much can I borrow?’. In this article, we will be discussing the second question as this has changed drastically in the past decade.
Prior to the days of credit scoring, your local Building Society Manager would manually assess mortgages. To make the process more consistent and reliable, the 1990s introduced the idea of lenders carrying out more regular income assessments.
In order to lower the number of mortgages being accepted to people who couldn’t afford one, a lending cap was introduced. This prevented people from borrowing more than three to four times their annual income.
To receive more applications, lenders started to become more generous with this leading cap as well as their conditions. There were even some lenders who accepted customers a mortgage without any background checks such as payslips. This would eventually become the catalyst for the credit crunch in 2007. In the midst of the credit crunch, lenders were requesting a 20-30% deposit, which made it very difficult to obtain a mortgage as a first time buyer in Derby or if you were moving home in Derby.
In the early 2000s, lenders became flexible in their criteria a lot more, arguably being too generous in the amount they would be willing to lend their customers.
Depending on the lender, some people were offered self-certified mortgages. These type of mortgages meant you were not required to have a background check so as the customer, you could self certify your income, regardless if the buyer falsely inflated the amount they were declaring.
Due to many people carrying out self certified mortgages, the market fell. This began the infamous Credit Crunch of 2008, from then to 2010, these became a very difficult times.
This especially effected individuals who were wanting to take their first step onto the property ladder. At that time, stricter lending criteria was to be put in place due to lenders having to change.
As the market made a recovery, the Mortgage Market Review (MMR) 2014 was created to provide an updated and sounder credit scoring system. The MMR was a set of requirements that lenders had to follow. Nowadays, lenders can determine if an applicant will be able to pay off their mortgage based on their financial state through the affordability calculator.
Lenders can use the calculator to receive a more meticulous insight into an applicant’s spending habits as well as net disposable income. A thorough assessment of your bank statement is carried out to ensure that if you can’t afford a mortgage, then you are not granted one as you could have been prior.
With this assessment, you will find that the majority of lenders will no longer go past 4.75 times your annual income.
As mentioned, lenders will look into your spending habits and the way they analyse these depends on your situation. For example, you may have to pay high childcare costs, have a large number of credit commitments and in some circumstances, you might be paying off your student loan. With this in mind, a mortgage lender will likely offer you less than your work colleague for example, who has fewer outgoings.
These days, there is a distinctive difference between lenders when it comes to how much or little they will lend to some customers. Now and again, lenders have been known to penalise low-earners.
The reason for this might be that they are looking for that type of applicant. They may lend if they see pension contributions as a fixed outgoing, in particular, to customers who have a significant deduction, less than a private-sector worker.
With every lender comes a very unique lending criteria, and every customer has its own circumstance, in the case that you need to maximise your borrowing capacity to have a chance at buying your dream home.
Lenders will always be competitive when it comes to price and lending criteria, however, they will avoid competing for the lowest rate as this will provide no profit gain for them. Furthermore, this will be highlighted through the difference between lenders and their maximum borrowing capacity. Different lenders target for different niches of clients therefore don’t feel it’s inevitable that one lender won’t lender to you as there will be another out there who would.
State benefits like tax credits are factors lenders will take into account for a mortgage. Some lenders may be more generous if you are for a self-employed mortgage in Derby. Increasing the amount they will lend can be done through extending the term of the mortgage to the maximum allowable.
Seeking Mortgage Advice in Derby can be very beneficial. On behalf of the customer, our team will search the market to try and match you to various lenders criteria.
When it comes to knowing the maximum amount you can borrow for a mortgage and your repayments, book your free mortgage appointment online today to speak with one of our expert Mortgage Advisors in Derby. They are determined to make sure your process run as smoothly as possible and search through thousands of mortgage deals to find you the most suitable for your circumstances.
The idea of having one mortgage can stress people out, never mind two! That said, some people weren’t aware that it was possible to have two or more mortgages.
Many various costs come with a second mortgage, and there are many different reasons why someone might want more than one mortgage.
If you have a large amount of equity built up in your home and are looking to release some to fund for a second mortgage to purchase a new home, home improvements or on another property for your portfolio.
Then this is something an experienced mortgage advice team in Derby, like ourselves, can look into for you.
You’ll often find towards the back end of your mortgage that you will be heading onto or potentially already are on a lender’s Standard Variable Rate (SVR).
Our team of advisors may be able to shop around to find you a more competitive deal. Another potential option could be an advance with your current lender.
If you are looking into the possibility of moving house but securing full ownership of your current property to let it out, this is another case where having a second mortgage would be suitable.
Your second mortgage will be a new residential one, taken out on a property after raising funds from renting out the previous home. This particular process is known as a let to buy mortgage.
Some homeowners may look to release the equity sitting in their property, using that income to buy an additional property to add to their portfolio.
We are now seeing more situations where a homeowner may wish to take out a remortgage to release equity to gift their child a substantial deposit.
Gifted deposits are a widely popular option for many first time buyers in Derby who otherwise wouldn’t have gotten on the property ladder any other way.
A second mortgage may apply to other circumstances, such as financial complications present with a divorce or separation.
You may not always be able to get out of your joint mortgage straight away, if at all, but may wish to take out a mortgage on a home of your own once you’ve moved out.
If you have any questions regarding second mortgages, please do not hesitate to get in touch.
You can now book yourself in for a free mortgage appointment to speak with a dedicated mortgage advisor in Derby at a time that suits you and your lifestyle.
Through our experience as a mortgage broker in Derby, we have found that there are a lot of questions within the mortgage industry that come up regularly. To relieve clients worries, below is a list of common difficulties you may get into:
If childcare costs are involved, you usually aren’t as at risk of getting turned down for a mortgage. Potential outgoings of childcare costs can sometimes affect affordability. This is something you should consider as the lender may grant you a lower mortgage amount because of your childcare, in comparison to an applicant who may have the same amount of income but have no children.
Childcare costs are usually associated with a loan or credit commitment. Parents can still be granted a lower mortgage without the childcare costs and the mortgage amount may still be lower than applicants who aren’t parents. This is because lender’s affordability calculators often factor in having kids in as some additional expense.
Child benefits and other state benefits can be something lenders will consider. In some cases, increase the amount they will be willing to lend you.
Nobody ever plans ahead in buying jointly with a partner, expecting to eventually get a divorce or to separate. Unfortunately, this happens more often than you might think. When divorce or separation occurs, certain files and documents need to go through changes such as a name change on a mortgage and inquiring as to whether or not a person is allowed two mortgages.
It’s a requirement that you get in-depth mortgage advice in Derby for instances like names to be removed and for someone to be allowed two mortgages. In the circumstance where you receive maintenance, this usually is put towards your income for a mortgage.
Surprisingly, this is a lot easier than people might think. In some cases, the lender’s criteria may require the applicant to be in work continuously for a period of time while some lenders are flexible with this. Even if you are still in your first job, and haven’t been employed with anyone else, you may still be able to get a mortgage.
Obtaining a signed contract and job offer when you’re starting a new job can give enable you to get a mortgage. Gaps in employment might be a problem with lenders, which is something to remember and probationary periods are typically acceptable.
The years after the financial crash have seen Anti-Money Laundering precautions become stricter. Lenders will want you to evidence where your money for the deposit has come from. This is something solicitors and estate agents might want to discuss with you.
Due to this, any large amounts that you want to deposit will be questioned and could mean your application will be at risk of being rejected. This can be a common occurrence for first time buyers in Derby.
It’s common for some applicants to have a ‘gifted deposit’. In this case, the person who decides to gift your deposit will need to confirm in writing that it is not a loan and is just a gift.
Once you begin the process of moving home in Derby, there will be a lot for you to deal with stress-wise. One area that is always tedious, but it essential to make sure you get right, is updating all records of your address, to make sure that bills and other post goes to the right home.
There will no doubt be a lot for you to update, from your local GP, to your Amazon shopping account and more! It goes beyond just making sure you get your post though, as consistent address information is helpful in many other areas as well.
Most of the time, addresses can be missed when you are updating everything, which can leave you being linked to multiple addresses. What you may not realise though, is it can impact your credit score too. The less varied addresses you have, the better it is for your credit score.
Because of how important your credit score is to a lot of areas, you need to make sure that your credit score is looking in a good way, especially if you are looking to apply for a mortgage on a new home in Derby.
In more recent times, first time buyers in Derby and home movers in Derby seem to think they have a much bigger and better understanding of how their credit scores work and will look to use this to their advantage, keeping both old and newer addresses active.
Typically, this will be done if they have moved out of their family home with their parents, becoming private or council tenants. Even though they will now be living somewhere else, they don’t see the issue in leaving their credit cards, electoral roll info and bank statements at the old address they had.
Many think that with this type of practice, they can manipulate how it looks to seem like they have a long-standing and stable address in their name, rather than moving from address to address. In theory, this works, though in practice, it really does not.
The reason why this does not work, is that somewhere as time has gone on, if you have moved home in Derby, there will be a record of the new address on your credit report. Staying linked to your previous addresses is a flawed strategy, unfortunately.
Whether it’s through paying home bills, any car insurance you have, things that you have ordered from online stores like Amazon or eBay, or from anything else you have given your address over time, there will be a record of it existing on your credit file.
In turn, this can seem like you are actually living in two places at the same time or even like you have failed to disclose important information to the mortgage lender. In either case, this can have an impact on your ability to achieve mortgage success, as this will be based on trust.
The best thing that anyone who is looking to purchase a new home in Derby and apply for a mortgage can do, is to make sure that every record of your address is completely accurate and your accounts are all updated.
This means you need to be sure that all of your online shopping accounts, the electoral roll, your credit cards and pretty much anything else that springs to mind that has your address on it, is all correct and the most up to date it can be, with your current home address only.
When you update your address to be where you are currently living on the electoral roll, make sure that you have definitely got the right moving in and out dates, as getting this wrong can also make it seem like you have two homes.
Making sure that all of your addresses and dates for moving in and out are correct is a far more open and honest way of handling your application for a mortgage in Derby, with a mortgage lender. Not only will it paint you in a good light, but it will make your mortgage process a little easier.
Aside from keeping your addresses on and offline up to date, there are also a collection of different tips that could prove to be quite useful to those applying for first time buyers mortgages in Derby, as they start their own home buying and home owning journey.
These tips include making sure you maintain your bank accounts, try to avoid unnecessary charges if you are able to do so and limit your gambling transactions, if you happen to be a regular gambler. Gambling can have a massive negative effect if you do this too often.
Remember that your bank account needs to represent a true reflection of how well you can keep up monthly payments, generate income and handle your finances in a suitable way. This is a big determining factor in your ability to obtain a mortgage.
A gifted deposit can be a great opportunity for a first time buyer in Derby to take their first steps towards homeownership. This is where a family member is able to gift you a portion of or even the full amount of a deposit to you, to help you buy your new or first home.
This is solely to be a gift, however, not a loan to be repaid. Your mortgage lender will want to see this in writing, to prove that this is the case.
We would always absolutely recommend that customers, whether they are new or existing, they should take a look at obtaining an up-to-date credit report as soon as possible.
Check My File is a really great tool that can pull together information from a variety of sources, such as Experian and Equifax, in order to get a more complete view of your financial position. You get a 30 day free trial, that can be cancelled at any time, before it rolls onto £14.99 a month.
Try it FREE for 30 days, then £14.99 a month – cancel online anytime.
If you are a First Time Buyer in Derby or are looking to move into the area, you may be thinking about where in the area of Derby you would like to live. House hunting is known to be the most daunting. Along with this, you will need to factor in mortgage arrangements as well as find the best mortgage deal and sort out your finances for your new home.
There is a high chance that at this point you will have a rough idea of where you may like to live and the type of houses you would like. Furthermore, you will be looking into the location and its amenities and the amount you get for your money. You may be stuck between a few places and will want to weigh up the pros and cons of each place to help you towards your final decision.
In this article, we have listed some points you could keep in mind when selecting a place to live in Derby.
An important factor for many homebuyers will be what type of area they would like to live in Derby. For many, this is whether they want to live in a more central location or a more rural area.
It’s more important to think about whether the area will affect your commute to work, as well as access to local amenities, shops and schools.
You need to think about the transport links around the area you are thinking of living in. For drivers, you may want to look at the motorway links, whereas, those who are looking for public transport will want to look at the railway or bus links to their place of work. It’s generally important for those who don’t have their own mode of transport.
One of the reasons for moving home in Derby is to look for a property with a larger space. This is normally for homebuyers who are looking to start a family. With this, many people look at an area that has excellent schools nearby for their children to go to. If you are in this situation but are wondering which school is best, looking at the school league tables to get an idea of what each school is like can help towards your final decision too.
The type of amenities in the area will change depending on what lifestyle you have. For example, you may enjoy exploring and being around nature which is what a rural area can fulfil or you enjoy the thriving city where there are lots going on at your doorstep. Whatever your lifestyle is, it’s good to look into these and what facilities will be around your area and whether these will benefit you.
Making some sort of ‘wishlist’ of the things you would like and need in the area can help towards a decision. You may find that all the areas you were looking at don’t have all the things you want which is why you should split up your list into priorities and desires to whittle down to an area that will benefit you.
Being close to your family and friends can be important to those with children who are in need of childcare like the school run. Therefore, it’s best you look into this yourself and find a property that is not far for your family or friends and is convenient for you to visit or approach them for any support you need.
Through your property search, you may have noticed that property prices slightly change in different parts of the U.K as well as within Derby. Through our experience providing Mortgage Advice in Derby, we do find homebuyers, in particular, those who are looking for their first property will look at a cheaper place and compromise on the facilities to save money while they save for a bigger property in the future.
Community is an aspect to think about when moving, however, it’s not at the top of everyone’s list. An area with a thriving community can be important if you want to be a part of it or if you are new to the area. Many areas do have community websites and Facebook pages which can provide insight into what the locals are like. Many areas do have a community centre or village that puts on plenty of weekly activities if you are looking to build friendships with the people in your area.
Again, house prices can slightly change in areas, but you may be house hunting in the hopes of finding a property you want to settle down in long term in the hopes the property prices may rise so you can sell in the future.
Your new job may take you to move to Derby. It’s very likely that you will be looking for a property that is located in a convenient route to your workplace and within a reasonable distance. On the other hand, many do look to live on the outskirts of Derby as it may be cheaper and have some brilliant transport links making it easy to commute to and from work.
Future developments in the area can be important to look at to see whether the property you are interested in will be affected. This is especially the case if you are looking for a long term property.
This is another reason why doing your research is key as you will be able to see if there will be any future investments. From this, you can conclude whether this will have a good impact on your lifestyle or not.
You may be looking for a more quiet and rural life, however, you may not be happy with the fact that the area is thinking of developing a large housing estate nearby.
If you are in the process of finding a property in Derby and are looking to make an offer, it’s time to look at getting yourself a mortgage. Contact our team today so we can book you in for a free mortgage appointment with one of our expert Mortgage Advisors in Derby.
Our team are here every day of the week from early until late, subject to appointment availability. We have a fantastic reputation for helping those taking that first step onto the property as well as those Moving Home in Derby. Our team are more than happy to help with your mortgage success!
A 95% mortgage is as simple as the name would suggest; you are borrowing against 95% of the price of a property, and then you are covering the remaining 5% with your deposit. An example of this is if you looked at buying a property that was worth £150,000 with a 95% mortgage, you would be putting down £7,500 as your deposit and borrow the remaining £142,500 from the lender.
Off the back of the March 2021 Budget, Boris Johnson announced a Mortgage Guarantee Scheme for mortgage lenders, making 95% mortgages more readily available from the bigger high street banks.
This is fantastic news for First-Time Buyers and Home Movers alike, as this scheme will continue running until December 2022. Certain terms and conditions will apply though, which is something your Mortgage Advisor in Derby will be able to look at, to see if you qualify.
All our customers who opt to Get in Touch will receive a free, no-obligation mortgage consultation where one of our dedicated mortgage advisors will be able to make a recommendation on the best possible route for you to take.
95% mortgages are usually accessible by both First-Time Buyers in Derby & those who are Moving Home in Derby. Whilst saving for a 5% deposit sounds like a pretty straightforward concept, you’ll still need to have an acceptable credit score and prove that you are able to afford your monthly mortgage repayments, in order to access a 95% mortgage.
A good credit score is essential in the process of obtaining any mortgage, especially a 95% mortgage. Things like paying any current credit commitments on time, ensuring your addresses are updated and checking that you’re on the voters roll, can all help with your credit score.
Affordability is another one that is important to take note of. By giving the lender details of your income and monthly outgoings (things like your bank statements will be necessary for this) and any pre-existing credit commitments, your lender will be able to get a general overview of whether or not you are able to afford this type of mortgage.
Nowadays we see lots of family members helping each other get onto the property ladder, especially parents looking to further their children’s lives. The way this usually happens is by gifting the person looking to find their home, the deposit required. Known through the industry as the “Bank of Mum & Dad, Gifted Deposits are only intended to be a gift, and not as a loan. The lender will need proof that this has been agreed, before it can be used towards your mortgage.
When looking for a 95% mortgage, you want to make sure you have the right type of mortgage. Each mortgage type works differently, with that choice allowing you to find one that is most appropriate for your personal and financial situation.
Some homeowners and home buyers prefer Fixed Rate or Tracker Mortgages, mortgage types which mean you either keep interest rates at a set amount for the term given or have your interest rates tracking the Bank of England base rates.
Alternatively, you might find that Interest-Only or a Repayment Mortgages are more your style. Interest-Only allows cheaper payments until you need to pay a lump sum at the end (mostly now used for Buy-to-Lets), whereas a Repayment mortgage (a normal mortgage if you’d like) means you’ll be paying interest and capital combined per month.
Seeing as a mortgage is such a large financial outgoing, you need to be prepared and need to be aware. You might find things like higher interest rates, remortgaging difficulties due to less equity and then negative equity all cropping up if you’re not.
There is no need to worry though, as all these can be avoided if you’re savvy enough with your process to begin with. The more deposit you put down for a property, the less risk the lender will see you as.
A larger deposit, of say 10-15%, would not only reduce the rates of interest by a noticeable amount, but would also give the property more equity and reduce the risk of negative equity, thanks in part to you borrowing less against the property.
So, whilst the risks may seem intimidating, planning ahead and saving for a bigger deposit to access something like a 90% or even an 85% mortgage will be a massive help in your mortgage journey and something you’ll be able to reap the rewards from in the future.
As a First Time Buyer in Derby that has started house hunting, you may have found a property that has drawn you to make an offer. Creating a proposal is a key factor in the mortgage process and is just as important as part of the homebuying journey so needs to be approached with care.
When you’re looking at properties and are looking to make an offer, you need to keep in mind that other applicants will be scouring the market as well. This means you need to put yourself in a better position than them to have a better chance of getting your offer accepted.
Cash buyers can be a challenge to compete against regardless of whether you have everything organised. They might even offer less than the one you proposed, however, sellers will see this as an easy buyer as they will usually have barely any complication with the process. The good news is that there is only a small number of cash buyers in the market today.
One way to increase your chances of getting an offer accepted is to be very organised. To start, you need to send your mortgage agreement in principle to your estate agent. This will put you a step ahead of many other applicants who may not have sent theirs off. Here at Derbymoneyman, we offer ‘same day service’ for this documentation if your case is straightforward.
Negotiating comes with buying a home. We do find that people who got an offer accepted the first time have more than likely offered too much. In the case where your first offer gets rejected, there is no need to worry as you will get asked whether you want to increase your initial request after this.
Your second offer may get rejected too which sometimes means that you will left with the only option of paying the original asking price, which is the case if the property is quite new to the market. Sometimes, it can mean that you have to walk away and find somewhere else.
Scanning through Zoopla and Rightmove can be helpful as you may find out the sold prices of properties similar to the one you are looking to make an offer on in that area. These types of websites collect their data from the land registry which is perfect to find an accurate asking price. Keep in mind, however, that some houses do sell lower than the neighbouring properties around them, but there will be a reason behind this.
If they are getting sold lower than you expected, some houses can sometimes be down to such reasons as being repossessed, sold to a sitting tenant at a discounted price or it was an inter-family sale.
Houses that are sold at a lower price may be due to the fact that it has been repossessed, sold to a sitting tenant at a discounted price or it was an inter-family sale.
As an experienced Mortgage Broker in Derby, we can advise you on how your approach this part of the home buying process. We are available 7 days a week and are more than happy to help!
When you are ready to Move Home in Derby in order to progress further up the property ladder, you will need to take on the task of selling your existing home on the property market. You may have got the deposit for your next property purchase through the amount of equity in your home (the amount it sells for minus your current mortgage balance) post-sale.
The deposit can be increased in many different ways like your personal saving or a Gifted Deposit from a family member or friend. Both of these options are common among many First Time Buyers in Derby to achieve their homeowning goals, however, the option is available to those looking to move house in Derby.
As the seller of the property, it’s likely that you will a rough estimate on the lowest asking price you will accept, however, you may be open and willing to consider other offers out of this range. How quick the sale is can be effected by the way you market and present your home to potential buyers.
It’s best to look at whether your asking price is above the average price is in the surrounding areas. You need to be considerate and fair with the price regardless of if the estate agent told you that the property could be sold at a much higher amount, this doesn’t mean it will get sold at that price.
Cause as much traction to your property is something you need to do within the initial few weeks of your listing. With this in mind, if you find you aren’t receiving a lot of viewing for your property, you may want to consider dropping your asking price.
In the case where you have already found your potential dream home and are still living at your current house, it’s key that you sell it as quick as possible. This is why having a fair asking price can be beneficial as you are more likely to attract a potential a lot quicker.
Through our time as a reputable Mortgage Broker in Derby, we have gained vital experience and extensive knowledge within the mortgage industry. In terms of properties, the main factor that always stands out to any homebuyer.
It’s all about first impressions which is why the outside of the property should be attractive to many potential buyers. Look at the exterior of your home through the eyes of someone who has never seen it before, is the front lawn well kept? Is there anything that needs fixing?
Having an eye-catching, well-presented exterior could be done by jet-washing your driveway and neatly mowing the lawn. Not only is the buyer looking at the house but also how well you have kept it which is why it’s key to consider these things because you want to demonstrate to the buyer that you have taken good care of your home.
Furthermore, this also will peak more interest to the buyer as they will see the outside looks good and will then wonder what the inside is like. Having this can make the buyer hopeful and could result in a potential sale.
You need to remember that this is first time the buyer is going to see your property and their initial impression will be key in their decision process and whether or not you will get a sale. Make the most out of the viewing by having that ‘kerbside appeal’ to interest as many buyers a possible.
Tidying up every part of your home can be a huge chore, however, it’s the best way to impress your viewers! You need to make your home look clean, welcoming and comfortable.
Decluttering is the first port of call, in particular, around the entrance of the property. Viewers need to see your home has been well kept as soon as they step foot on the property. Little details like a new doormat or a new doorbell can make all the difference.
As you have organised your hallway, it’s then time to clean each room in your house. Kitchen and bathroom need to be fully clean and taken care of as they are key parts of the house. Even the inside of any cupboards and wardrobes need to be nicely arranged and cleaned.
For those who smoke, the smell can usually linger around the house. Therefore, open windows to get some good air in the house before any viewers arrive. Try and remove any objects in the house that smell of smoke too as that could enhance the smell further.
All of your interior doors should look presentable with a fresh coat of paint if necessary, brass fixtures polished and make sure each for open and close as they should.
Let some natural light in each room if possible or some good lighting. Any darker room needs blinds and curtains open. The temperature of your home should be comfortable to enhance the viewer’s experience.
You should test all lightbulbs to ensure they are working. Tap into the senses further by ensuring your house has a welcoming smell. Try to avoid any cooking smell and go for alternatives like air fresheners, incense or oil diffusers.
Eliminating any distractions that could affect the viewing like children or pets is key. You want to make them feel comfortable and calm without any unnecessary interruptions from small children and animals.
On the other hand, they may be best to have around. Many people could be looking for a home to settle down and start a family, it’s all about having that nice balance of welcoming and homey, to distracting.
Following on from this, it may be nice to display any family picture or painting to decorate the house. It can show to a viewer how a family has created fond memories in the home.
It’s good to let your home viewer roam free around your home so don’t crowd them too much. Couples usually like to have private conversations and comments they want to keep in mind as they look around.
As mentioned your kitchen and bathroom should be clean and spotless. Organise your belongings by putting away any items you don’t use often in cupboards and storage containers. This includes any towels and clothes which need to be nearly folded and put away with no coat hangers or any towels left on hooks or on the floor.
To create a fresh, clean essence to the home, think about washing your curtains, wiping your walls down and cleaning your floors and windows. Speaking of windows, they should be shiny and smear-free. Change out your bedding to clean, fresh bedding as well as carry out any minor repairs.
Consider looking at buying new carpets for smaller rooms as a cheap way to impress your viewer. Having fluffy, new carpets in place can show that you take care of your place and keep up with any moderations.
Creating an open space is something many homeowners don’t think about but can be beneficial for viewings. This can give the viewer an opportunity to look at how they would decorate the property and gives them some kind of canvas to mentally create on.
This is why you should put stuff that doesn’t need to be out into cupboards. You will be helping yourself by taking this approach as it means moving can be more straightforward by simply packing and transporting your belongings to your new home.
In terms of your kitchen, make sure your worktops are as clear as possible also put any pots away.
The size or style of a garden could be at the top of many homebuyers’ preferances. You may find that it is a deciding factor for a viewer who is looking at your home. Generally at the back of the house, the garden will be a lasting impression when looking at your home.
Give your garden a good declutter by picking up any rubbish and putting away any unnecessary things. You shouldn’t be throwing everything in the shed as there’s a chance for homebuyers to look inside that too.
Check that your fences have their slats properly in place and are freshly painted or creosoted. Bright and colourful gardens can be eye-catching and inviting to viewers so add a nice variety of plans flowers as well as some garden decoration e.g ornaments, birdfeeders etc.
It’s all about making the garden look inviting and presentable to the point where a potential sale could happen. Carrying out some gardening tasks like removing weeds and dead flowers, cutting the grass, and removing grass clippings can help towards the overall presentation of the home
Not only does your home need to provide a good persona, but so do you! Being a good host can help towards the overall impression of the house. Be welcoming, honest and authentic towards your viewers. You need to sell your home in the best possible light in order to get a potential offer.
In order to be authentic and honest, mention any problems that occurred in the home whilst keeping a balanced perspective. For instance, if you had an issue with a leak in the past, say how straightforward it was to fix and that’s unlikely it will happen again any time soon.
In the case where you are working with an estate agent, it’s usual for them to earn their commission by talking to the property viewers as much as possible. Remember that you know your home as much as they do, you lived there yourself. Therefore, don’t hesitate to get involved and provide further information to the viewer.
The final point, consider the emotion attached to buying a home, in particular, if you are speaking with a First Time Buyer in Derby. For sellers with a family, let the viewer know about how important and memorable this home has been during your time there. This can leave a touching last impression on the viewer, especially for those looking to start a family or already have one of their own.
It’s no secret that we think going with a mortgage broker would be your best option, however that isn’t the only path you can take. Sometimes it is worth exploring your options. Generally speaking though, we find that most people opt to side with a Mortgage Broker in Derby. Let’s take a look though at the positives and negatives of both, allowing you to decide for yourself.
As a general rule of thumb, a mortgage broker (like Derbymoneyman) will charge a broker fee on top of the costs you are already needing to pay for. On the flip side, the majority of mortgage lenders won’t require this, leaving you with money still in your pocket.
On top of this, going to a mortgage lender directly will open you up to exclusive deals you can only get through going to them. This attracts business from both those looking to get a mortgage and even mortgage brokers. These are also only allowed to be offered by the broker itself and not just anyone in a branch without proper mortgage advice training or consumer protection knowledge.
Luckily in 2014 this was banned nationwide, only allowing for experienced and fully qualified mortgage advisors in Derby to provide any kind of mortgage advice and product recommendation. This took a while for people to get used to however, and some customers were left waiting for a month, sometimes even more.
Even today, this can still happen to some customers. This isn’t the best when you have already had an offer accepted on a property you like. It’s reasons like this that mortgage applications via mortgage brokers went on the rise. A part of our charm is offering a same day service, hoping to put you through with a qualified mortgage advisor in Derby as soon as possible, often within the same day unless the customer requests otherwise.
In the days before the 2010s, it was a lot harder to look as possible mortgage deal comparisons, whereas nowadays everything is now at your fingertips and easy to find out. The hardest part now is not comparing, but rather finding criteria that you match up with and features that can be tweaked to match your individual situation. It is still advised that you be wary though, as deals with the lowest fees often come with the highest arrangement fees.
Something else to look out for is affordability. You could find the greatest deal in the world with a lender, but if you can’t afford it, you won’t get it. This in turn ends up being a large factor as to why people opt to use a mortgage broker in Derby. Using our knowledge of lender criteria, we will do our best to find you an appropriate and affordable deal for your circumstances.
With regulations these days being a lot tighter (a lot of that being thanks to the Credit Crunch), mortgage applications are not as easy as they once were. For the inexperienced home buyer, it can be an overwhelming experience to go alone. Here are some possible hurdles that customers may find along the way:
Over the years, Mortgage Lenders had gotten rather competitive with each other, trying to offer better deals than their fellow lenders. Due to legislation changes post-Credit Crunch, most of these changes are now in regard to the lending criteria.
Some of these examples include how much they are willing to the self-employed versus the employed, as well as leniency when checking previous credit report issues.
Your circumstances are completely unique to you. Whatever the situation, it is unique to you. When speaking to an experienced Mortgage Broker in Derby about your situation, it will be likely that they have encountered something similar in the past. Hopefully with their experience in play, you’ll end up with the most appropriate deal for you, along with lower interest rates.
Our service is more than just mortgage focused. Even if the application is simple and straightforward, customers will often still rely on a mortgage advisor in Derby for more. Customers are welcome to discuss with us how much they are planning to offer on a property, and we can recommend services such as solicitors and property surveys. One of our most important services is running through any available protection with our customers.
Something else we pride ourselves on is the ability to be a responsive mortgage broker in Derby, offering out of hours and weekend appointments to all our customers. Our dedicated team of mortgage advisors in Derby are available 7 days a week!
A factor that gets overlooked regularly, is that most applicants seem to be busy and need the assistance of a mortgage broker to handle the mortgage proceedings and eliminate possible stress. Professional applicants can reap the benefits of this as well, as they have their own clients that they are able to charge their services to.
In the future, we could see lenders wanting to bring back more customers from mortgage brokers. In this case, it’s unlikely that they will invest in more staff, instead opting for a more technological route.
For anyone looking for a quick and easy process, who is comfortable doing things that way, it’s great. Mostly we find though, whether they are First Time Buyers in Derby, Self Employed in Derby, or looking to Remortgage in Derby, people prefer people and would much rather have human interaction and input in their mortgage case.
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Derbymoneyman.com & Derbymoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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Derbymoneyman.com & Derbymoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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