First class service! Straight forward to deal with, answered all questions quickly and a speedy turn around to mortgage offer being issued. I cannot recommend Nigel and the Team highly enough. I would…
Thank you so much to Nigel for helping out with my recent remortgage. Always available on his mobile to answer any questions I had and made the whole process as stress free as possible for me. I would…
Nigel was extremely helpful in arranging my remortgage. His excellent knowledge allows him to provide a fast, efficient and professional service. Previously I have tried to arrange these myself which …
Highly recommended explained everything well, went to and from the lender so many times making sure all was agreed before spending my money on a survey 5 star amazing service!
Thank you Nigel for helping us with our mortgage! We really appreciate your patience and for always being at the end of the phone to answer any questions no matter how big or small!
Thank you so much to Nigel for helping out with my recent remortgage. Always available on his mobile to answer any questions I had and made the whole process as stress free as possible for me. I would definitely recommend him to friends and family!
“I received protection advice from Brian at AJMS and we proceeded to arrange various insurances for myself & my partner. I am very happy with the service I received and the policy I was recommended, I wouldn’t hesitate to recommend Brian’s services to anyone looking to arrange their personal insurance. “
Nigel has been our mortgage/financial advisor for many years now. His knowledge and expertise is second to none and I can’t recommend his services enough!
Alexander James Mortgage Services - The Best Woking Mortgage Brokers
Nigel is extremely knowledgeable, professional, supportive and well versed in many financial services, including but not limited to Mortgages. I would highly recommend you engage with him and his company to assist with your financial needs and mortgage application. A one stop shop in financial services with friendly advice and exceptional service delivery. Happy Customer !!
Alexander James Mortgage Services - Woking Mortgage Brokers
Nigel has been very helpful and knowledgeable helping me out get the mortgage to get my first house. His knowledge does not only limit on mortgage but broader financial areas. I was a happy customer and would definitely ask him for your help if I will need to get more properties with mortgages or advice on financial planning.
I used Nigel over the course of the years for my property purchases. In all my dealings with him he has always given me impartial advice and in my opinion found the best rates on the market. I would recommend Nigel as an honest and genuine financial adviser.
We were recommended to use the services of Nigel Glossop of Alexander James Mortgage Services by our then financial adviser.
In retrospect, this was an excellent recommendation as Nigel provided an outstanding service.
We were so impressed with the service that Nigel provided that when our youngest daughter decided to purchase a flat, we again secured the services of Nigel.
Who provided a first class service in helping her obtain a very competitive mortgage and appropriate life, critical illness, contents and health insurance cover.
And in the future will help her to set up a private pension fund.
So to anyone looking for sound, sensible and straightforward financial advice, we all recommend Nigel Glossop of Alexander James Mortgage Services.”
If you are looking to buy, you will likely need to arrange a mortgage. In most cases, the mortgage application process comes in two steps:
Both of these stages are important, as you would expect given the sums of money involved when applying for a mortgage. It is best to seek guidance from professionals and experts in the industry, helping you make an informed decision as to what you can afford, and what mortgage is best for your needs.
As part of the mortgage application process, you should expect the lender to ask a variety of questions. If you can answer these confidently, while providing evidence that supports your application, you will enhance your chances of receiving an attractive mortgage offer.
Expect to be asked where you work, how much money you earn, how long you have been employed at your current work, and how your pay is derived. If you can prove you have been in steady employment with the same employer for at least two years, and your level of income suggests you can afford the monthly payments, you are more likely to receive a suitable mortgage offer.
If you are self-employed or you are a contract worker, you will need to provide additional evidence as to your suitability regarding the mortgage. However, there is an increasing array of mortgage offers suitable for people in these circumstances. If you make a robust application, there is no reason why your application shouldn’t be successful.
You should expect to be asked about any recurring debts you have, such as car loans, student loans and credit cards. If you haven’t taken out credit in a while and your monthly debt payments account for a manageable level of your income, your application is more likely to be approved by lenders.
If your credit cards are close to their limit and a significant proportion of your income goes towards debt payments, you may not receive as attractive an offer as you would like.
While lenders want to know about any debts you have, they also want to know about any savings or assets you have. If you have money in the bank or a savings account, it may lead a mortgage lender to look more favourably upon your application.
You should also expect to be questioned on the size of the deposit you can afford, and the property you intend to buy. The condition of the property affects how much a lender is willing to offer, so the property will be assessed before a decision is made. The size of the deposit is crucial because the more substantial the deposit, or the larger in comparison with the value of the property, the more likely the lender is to offer you an appealing mortgage.
While applying for a mortgage is often a stressful activity for applicants, you can minimise the stress and pressure you experience. If you thoroughly prepare yourself for what the application entails, and what lenders want to know about you, it helps you make a stronger application.
It is natural for people to feel under pressure when applying for a mortgage. Given the importance of the mortgage in buying a home, you want to make a positive impression and present a robust application which persuades lenders to offer you an affordable mortgage. To support your claim, you should provide documents which detail your employment history, income and suitability for the loan.
By preparing these documents, you can speed up the process, and you can make the most compelling argument in support of your application.
All mortgage lenders must prove you are who you claim to be. Therefore, you will be asked to verify your identity, and the most effective way of doing so is to provide a passport or driving licence as part of your application.
You need to show you receive regular income, and there is a variety of documents to support your claim. As a minimum, you should supply your three most recent payslips, and bank statements for at least three months. If you can prepare six months’ worth of bank statements, it is worth doing so if it will strengthen your application.
You should also provide a P60 from your employer if possible.
While being self-employed makes the mortgage application process more challenging, it is far from an insurmountable challenge. However, in addition to bank statements, you should provide additional information to support your application.
It would be of benefit to provide accountant statements for two to three years. You should also look to provide the relevant tax return form (SA302) to support your claim. If you have more than one source of income, you should look to provide this statement.
If you receive benefits, you should provide proof of these benefits.
Mortgage lenders like to review utility bills for several reasons. A key reason is utility bills, with your name and address on them, allows them to match you to your stated property. Also, utility bills are a necessary outlay each month or quarter for people, so these bills are an example of your outgoings.
While your bank statements will be reviewed to verify your income, they will also be considered to determine your outgoings. Also, if you have credit cards or debts, offer documentation about these. Having a credit card or loan debt is no barrier to arranging a mortgage, but it is best if you can prove you are on top of these payments and you are not close to your credit limit.
Compiling these documents will assist you in making your application, and help you form an opinion on how robust your application is. If there is anything you can provide which strengthens your application, it is worth preparing and submitting with your application.
Mortgage lenders have strict criteria, but if you can prove you meet their expectations, they are more than happy to offer funding. Therefore, the stronger your application, the more likely it is you will be successful, so take the time to collect as many documents as you need for your mortgage application.
If you’d like to get in touch with us to discuss all your possible options, we’re always here to help.