Specialist Mortgage Advice in Derby

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Declined by the Bank? We Might Be Able To Help!

If your bank or building society has turned down your mortgage application, it means you don’t fit their lending criteria, despite having the correct documentation and having evidence to prove you can afford your mortgage payments.


No homebuyer wants their application declined, which is why here at Derbymoneyman, our team of Mortgage Advisors in Derby will take the time needed to understand what you are trying to achieve and try our best to find you the most suitable mortgage deal available for your circumstances.


Speak to a Specialist Mortgage Advisor in Derby

We work with a large panel of mortgage lenders with various deals that cater to different homebuyers with their mortgage situations.


When you are hoping to achieve something slightly ‘complex’, having the help of a Specialist Mortgage Advisor in Derby on your side will prove to be highly beneficial to you as we aim to search through 1000’s of deals to find you the most suitable mortgage for your circumstances.


Complex Mortgage Situation in Derby?

We have previously dealt with customers who have been turned away from a high street bank at the last second as they branded their application as ‘complex’.


We tend to find that some customers can be weeks into the mortgage application process and then get turned away for one reason or another. Usually, the issue should have got picked up by the bank’s mortgage advisor at the start of the process.


This results in customers losing time and money due to that one mistake, causing you stress and frustration. Without understanding the lending criteria before your application, you could be risking your chances of getting accepted for a mortgage. In some circumstances, it’s not always easy!


Rest assured, we have faced many encounters dealing with clients in ‘complex’ situations, so we’d love to hear from you. To speak with a Mortgage Advisor in Derby, book your free mortgage appointment online or give us a call.

How does it work?Get a quote nowMeet your advisor

We search 1000s of mortgage deals across a large number of lenders, including:

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Popular Specialist Mortgage Scenarios We Faced

When a customer is struggling to achieve their mortgage goals and is having a hard time getting accepted by a lender, we will search the market to find you the most suitable deal and always offer a helping hand in any way that we can.


As a Mortgage Broker in Derby with over 20 years working in the industry, we have helped many customers get onto the property ladder, all of whom have had their personal goals and circumstances.


We felt it would be worth putting together some of the more ‘common’ mortgage situations that we came across over the years:


Property Down Valuation

A property down valuation is where you had a property survey carried out on the property only to find out that the offer you put forward is above the property’s market value.


What may happen is your lender pulls out of the deal. However, this can alter if you can make up the difference between your offer and the properties actual value.


Divorce & Separation Mortgage Advice

Making future arrangements for the next step together can be exciting but also challenging, especially when your relationship turns sour, and now you are both tied to a mortgage together.


Maybe things have gotten out of hand in your personal life, and you are going through a divorce or separation. We recommend getting this sorted out as soon as possible.


Remove a Person From a Mortgage

Similar to divorce and separation, there may come a time when you are looking to remove your name or your ex-partner’s name from your mortgage.


Depending on how stable you are financial, you may face limited options because your affordability is now only based on a single income rather than two.


Single Name Mortgages for Married Applicants

If you are married and considering obtaining a mortgage on a home for you and your partner, mortgage lenders always prefer both applicants be named on the mortgage, though it is possible to obtain a mortgage in one name.


Shared Ownership

The Shared Ownership Scheme is handy for allowing applicants to obtain a mortgage as a share, initially on only a percentage of the property.


The percentage is usually between 25%-75% whoever owns the remaining share of the property, most likely to be the local authority. Regarding how your repayments work, you will pay the money back in monthly rent alongside your mortgage repayments.


Professional Mortgages

Professional mortgages are only available by precise lines of work. It’s an incredible niche section of the mortgage market. Because of this, you need to speak with Specialist Mortgage Advisors in Derby for more information about professional mortgages.


Second Home Mortgages

If you plan to take out a mortgage on more than one home, you must present your financial stability to the lender. This will show that your income is financially enough to cover the costs. Lucky for you, we can help prepare you for this.


Holiday Home/Let Mortgages

Holiday lets operate in a similar way to a Buy to let Mortgage. The main difference is that your property might not always be occupied during down periods. In some situations, you are paying monthly costs on an empty property.


In situations like this, lenders need to be confident to lend to you. It would be best if you showed that you could afford your repayments at all times, whether someone is renting in the property or not.


New Build Mortgages

New builds can often cost a little bit more than slightly older properties, but some will argue it’s worth every penny. If you find it challenging to save up for your primary deposit, you could be eligible in one of the UK Government’s Help to Buy Schemes to help get you on the property ladder.


Non-Standard Construction Property Mortgages

A ‘non-standard’ property is a property not built from building materials like mortar or bricks. If you need to take out a mortgage on a non-standard property, you need to speak to a specialist Mortgage Advisor in Derby. We highly recommend getting a full structural property survey if you are looking to purchase a non-standard property.


Multiple Applicant/House of Multiple Occupation Mortgages

HMO properties are properties usually bought to lets with 4-6 tenants. You may see these used for student accommodation. Looking into Mortgage Advice in Derby can be the help you need to get you an HMO mortgage if you are eligible.


Mortgages Past Retirement Date/Lifetime Mortgages

If you have built up an amount of equity in your property, you may be able to release some of this and turn it into cash by taking out a lifetime mortgage. We would recommend speaking to a Specialist Mortgage Advisor in Derby if you are over the age of 55.


Offset Mortgages

An Offset mortgage is where it combines a savings account with your Mortgage. Offset mortgages are a suitable method of helping you access competitive mortgage products and interest rates.

In need of a Specialist Mortgage Advisor in Derby?

We have many specialist mortgage lenders on the panel, all with unique mortgage lending criteria. Our trusted Mortgage Advisors in Derby utilise their knowledge and experience over the years to recommend our customers the most suitable deal based on your situation and the lending criteria.


If you have any questions regarding your credit score, we recommend getting an up-to-date copy of your credit report. This documentation will come in handy during your free initial mortgage appointment. It helps give our Mortgage Advisors in Derby a better understanding of what you’re looking to achieve and steer us in the right direction to find you the most suitable recommendation.


Mortgage Advisors in Derby

During your mortgage process, you are our responsibility. Our mortgage advice team are available 7 days a week and always aim to give you open and honest Mortgage Advice in Derby and remain by your side through every step of your mortgage process.


To speak with a Mortgage Advisor in Derby, get yourself booked in for your free mortgage appointment online or give us a call.

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Common mortgage

Your initial free mortgage consultation in Derby will last for roughly about one hour. An advisor will then recommend a mortgage for you, that you are under no obligation to accept and proceed with, if you decide it’s not for you.

As a dedicated and trusted mortgage broker in Derby, we will carry out a Fact Find to establish your circumstances & needs prior to recommending the most suitable mortgage for you. A credit check will then be required for an Agreement in Principle. Once you have provided all the relevant documentation and a valuation of the property has been carried out, a formal mortgage offer can be issued to you.

We would highly recommend you obtain an Agreement in Principle prior to property viewings in Derby, to avoid possible disappointment, especially as this can boost your bargaining position pre-making an offer and can be obtained with the help of one of our mortgage advisors in Derby, free of charge.

A standard Agreement in Principle generally lasts for between 30 and 90 days depending on which lender you are with. If your Agreement in Principle happens to expire, it can easily be refreshed.

If you’re looking to make any potential home improvements or consolidate any debt, then it can be possible to get a second mortgage on your home. Second Mortgages are also usable for if you are wanting to take out a mortgage for a family member, a holiday home or a Buy to Let.

When purchasing a property in Derby, the minimum deposit a High Street Lender will usually require is 5%, though if you have had previous credit problems, this can be higher.

If you have had credit problems, it could still be possible for you to get a mortgage, however, you may need to put down a higher deposit than usual. This could be 15% of the purchase price.

You may still be able to get a mortgage once you have submitted at least one year’s accounts. Typically we find that, for the most part, lenders will use your salary + dividend to calculate the maximum mortgage. Alternatively, some may go off your net profit.

To prove your income to a lender, it’s usually three payslips for an employee. If you are self-employed, it’s the latest 2 years’ accounts. In addition you will need to produce the lender with proof of ID, address and the latest 3 months’ bank statements.

Your free initial mortgage consultation will typically last up to an hour. Our team have the ability to obtain an agreement in principle within 24 hours. A formal mortgage offer will take about three weeks on average.

We make it so easy!
Our 4 step process

Step 1

A telephone call where we can take some initial details and find out about your plan of action.

Step 2

Enjoy finding a property in Derby!

Step 3

Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.

Step 4

Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.

A telephone call where we can take some initial details and find out about your plan of action.

Enjoy finding a property!

Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.

Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.

Handy quick links

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

The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
Should you have cause to complain and you are not satisfied with our response to your complaint, you may be able to refer it
to the Financial Ombudsman Service, which can be contacted as follows

The Financial Ombudsman Service, Exchange Tower, London, E14 9SR

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