azembel mortgage adviser

Advisor FAQ

WHAT IS LTV?

You may often hear about the term LTV requirement. LTV is an abbreviation for Loan to Value Ratio. This term is used to describe the ratio of a loan to the value of the property. For example, if you borrow £180,000 to purchase a property valued at £210,000 the LTV is 180,000/210,000 or 85%, the remaining 15% is your equity.

I WANT TO INVEST IN A RENTAL PROPERTY CAN IT HELP ME?

Our mortgage advisers brokers have a wealth of experience in a range of Mortgage types thus is the increasingly popular Buy To Let Mortgage

HOW DOES THE PROCESS WORK?

For more details on what you can expect from our office and how your application will be handled through to completion. Contact us

HOW MUCH CAN I AFFORD?

There is no criteria to determine what you can borrow. The amount you qualify for will be determined by the purchase price of the property, your income, deposit you are able to put down and monthly expenses.

WHAT FEES ARE INVOLVED IN GETTING A MORTGAGE?

Azembel mortgage advisors take all the hard work out of finding the very best mortgage offers available for you. Our brokers are fully qualified and FCA Regulated. We could charge an Application Fee and a Financial Arrangement Fee payable on completion. Any fees will be written on the documentation provided prior to any commitment by the customer.

HOW TO KNOW IF I'M BEING OFFERED THE BEST MORTGAGE AVAILABLE TO ME?

As a ‘whole of market broker’ this means that we have access to the whole mortgage market. Azembel mortgage advisers search and compare the entire market to find the best offer that suits you, we do all the hard work for you.

IS THE MORTGAGE ADVICE INDEPENDENT?

Yes, our advice is always impartial and independent, our advisors will recommend what they consider to be the best mortgage to meet your needs. We have no affiliation with a particular lender or panel. Our advisors are all fully CeMap qualified, FCA regulated and offer professional advice.

WHAT DIFFERENT TYPES OF MORTGAGES ARE THERE?

There are two main types of mortgages Fixed Rate Mortgage and Variable Rate Mortgage. A Fixed Rate Mortgage means that your interest amount is fixed for a given period (usually two to five years) your repayments don’t change. A Variable Rate Mortgage means the amount of interest you pay could change, and therefore so do your repayments.

WHAT HAPPENS IF YOUR MORTGAGE LENDER GOES OUT OF BUSINESS?

“no need to panic. There will be a process in place to protect you.

CAN YOU GET A MORTGAGE IF YOU’RE SELF-EMPLOYED?

Worrying over debt is clearly a source of stress amongst many of those who need to borrow. “‘can I get a mortgage if I have an overdraft?” are commonly-asked questions.

COULD YOU GET A MORTGAGE IF YOU HAVE AN OVERDRAFT?


Yes, but the lender will assess your ‘debt-to-income’ ratio. This is the portion of your monthly income which is used paying credit cards, bills, loans and student finance to ensure you aren’t overstretching yourself financially.

We advise is to cancel any unused credit cards before applying for a mortgage because lenders will look at the amount of credit available, not the amount you owe.



HOW DOES A MORTGAGE WORK?

A Bank or Lender loans money with interest. The amount borrowed is secured against the value of the property. The details of the loan agreement are registered against the Title – this is what is known as a mortgage.

There may be options out there and some credit issues carry less weight than others.

Some lenders are willing to lend to those with bad credit but at a higher interest rate

WHAT IF I HAVE BAD CREDIT, CAN I GET A MORTGAGE?

Worrying over debt is clearly a source of stress amongst many of those who need to borrow. “‘can I get a mortgage if I have an overdraft?” are commonly-asked questions.

What happens if your mortgage lender goes out of business faq?

“no need to panic. There will be a process in place to protect you.

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Azembel Ltd is an appointed representative of Openwork Limited, which is authorised and regulated by the Financial Conduct Authority. Registered address 71-75 Shelton Street, Covent Garden, London, WC2H9JQ Registered No. 926051.