What will Lenders look at when considering your application?
Lenders will look at your employment, income and current evidence of repayment capacity.
Is there a minimum or maximum term for a Mortgage?
This depends on the Lender; with most lenders the minimum term would be 5 years and maximum term is normally 35 years.
Why use a Mortgage Broker?
A Mortgage Broker can shop the market for the best rates and products from a number of Lenders, saving you time.
How much can I borrow?
How much you can borrow will depend on your income and Loan to value. A Lender will review both your gross and net income and the security of employment. If you are a first-time buyer you will quality for a loan to value of up to 90%, this means you will have to have a 10% deposit saved. If you are a second time buyer you will quality for a loan to value of up to 80% and will need to have a 20% deposit saved. Please note there are some exceptions to this rule.