Though it would be nice if we could all have the same experience, getting a mortgage can be quite difficult from time to time and often needs a little thinking outside of the proverbial box.
As an experienced and long-standing mortgage advisor in Coventry , there are many different complex situations we have come across, leaving us scarcely surprised when a customer gets in touch with something considered to be an “out of the ordinary” case.
Worry not, as it is very likely we have seen something similar before, using our knowledge of a prior encounter to further your chances of mortgage success.
Here at Coventrymoneyman, we have an extensive mortgage lender panel, with many of these lenders offering specialist mortgage deals for customers in particularly niche circumstances. These customers are often finding it rather difficult to obtain a mortgage, as they likely are unable to meet the standard mortgage criteria necessary to apply for a specific product.
Utilising the skillsets of a specialist mortgage broker in Coventry to work alongside you during your property buying or remortgage journey, especially if you are finding yourself in need of a bridge over troubled water, can be incredibly beneficial to you and your situation.
As an open and honest mortgage broker in Coventry, it is the job of our team to ensure that you hold the line and make it through your mortgage process, happy, free from stress and with a favourable outcome on your property goals, be it your home or somewhere you’re looking to let out.
Managing finances can be difficult, and late payments can damage your credit score, potentially leading to a poor credit rating in Coventry. The extent of the score reduction depends on the number and type of missed payments.
If you receive a CCJ, you must pay it off within a certain time frame to remove it from your credit report. If you settle the outstanding balance within 30 days, the court can remove the CCJ from your credit file using the registry. However, if you fail to pay the amount due, the CCJ will remain on your credit report for six years.
Many homeowners in Coventry choose to remortgage their homes to release equity. There are numerous reasons why you might need to raise capital, such as financing home improvements or helping a family member climb the property ladder. If you are struggling financially and every other avenue has been exhausted, then you might need to look at debt consolidation in Coventry. Although a risky decision and not something to take lightly, remortgaging to release equity for debt consolidation purposes in Coventry can be a way to combine your monthly expenses into another affordable monthly outgoing. Providing clear and transparent mortgage advice in Coventry, we will review your circumstances and help you determine if debt consolidation in Coventry is the best option for you. You should think carefully before securing other debts against your home. By adding your unsecured debt to your mortgage, which is secured on your home, you may endanger your home if you can't make the necessary repayments. Although the total monthly cost of servicing your debt may have been reduced, the total repayment cost may still have increased because the duration of your mortgage is longer than it may have taken to repay the original debts.
Here at Coventrymoneyman, we have expert mortgage advisors in Coventry, who have access to a large panel of specialist deals, each lender has its own unique mortgage lending criteria for customers, and we may be able to find you the most suitable deal.
Our team of mortgage advisors in Coventry can use their knowledge and expertise to recommend to our customers the most appropriate mortgage deal for their personal and financial situation.
If you're worried about your credit score, you should get an up-to-date copy of your credit report. When it comes to your free initial mortgage appointment, you'll benefit from this, where we can better understand your situation and see if we can help you achieve your mortgage goals.
We regularly come across customers who perhaps have been rejected by their own or another high street bank, oftentimes at the very last minute. This has been known to happen when the customer is already well into their mortgage process, being dropped by the lender with no given reason.
In situations akin to these, the high street mortgage advisors really should have had to ability to prevent the case in question from progressing too far at the outset, by undertaking preliminary checks, to ensure that you are on a mortgage deal that you qualify for.
Because of the oversights that the banks have, we find that our customers can even end up being out of pocket, in a great amount of stress and understandable frustration at the situation. Without knowing ahead of time that you are absolutely going to match up with a mortgage lenders specific criteria, you could actually be harming your ability to obtain a mortgage altogether, especially if you do end up being declined.
There need not be any reason to worry though, as we here at Coventrymoneyman have a profusion of complex mortgage experience, helping many a customer who have walked in similar shoes to you and yours. Book your free mortgage appointment today and speak with a trusted mortgage advisor in Coventry, who will take a look at your case and see how we are able to be of assistance.
Our Customers Love Us
5.00 Rating32 Reviews
Friendly efficient service, took their time to explain the procedure etc, I would definitely recommend them.
1 week ago
Leo is always a pleasure to talk to. Very friendly and knowledgeable, and allows us to ask questions, no matter if we’ve asked before orbits really obvious
1 month ago
Really helpful and clear.
8 months ago
From first discussions with Tom to being passed over to Lyndsey, the whole process was easy and seamless. Everyone I have dealt with at Moneyman have been really helpful and friendly, which has helped take the stress out of applying for a...
10 months ago
Jenny has been extremely helpful throughout the process and resolved any issues quickly. Thanks!
11 months ago
Very good service over the moon Wayne and Megan no there stuff
1 year ago
4 weeks and got my offer very good service from Wayne and Megan can not fault them
1 year ago
1 year ago
Fantastic service. From start to finish I had everything clearly explained and the broker always had my best interest in mind. I highly recommend for first time buyers!
1 year ago
The service provided is personal and efficient. The team are willing to help and will try hard to meet tough timings to support an application. Would recommend
1 year ago
Brilliant! Really helpful, did everything for us, explained the process clearly and made it all so easy! We wouldn't have gotten a mortgage without them!
1 year ago
Really friendly advisors who are happy to answer any questions. Leo walked us through the entire process, and was happy to go over things to make sure we fully understood and were happy with everything.
1 year ago
Helen was really warm and friendly.
1 year ago
Very helpful, very polite and knowledgeable! Would recommend to anybody
1 year ago
Charlie was thorough and informative. What we really liked is that he always asked if we understood what he was saying and would ask if we had any questions
1 year ago
Really pleased with there good work. Reliable and available when you contact them. Very good communication and customer service team. I will recommend to my friends any family member looking for morgage advise.
2 years ago
Very helpful, would definitely recommend
2 years ago
As a first time buyer, I was somewhat nervous of the unknown and wary. After choosing moneyman. I was really pleased with the service and the customer service. I got my mortgage as promised. Which was a relief. Each step of the way I was...
2 years ago
Very professional, helpful and friendly staff. Always available to offer required support and guidance. Great mortgage brokers
2 years ago
Just a friendly service really , felt comfortable talking to Megan, put me at ease with any questions x
2 years ago
Discuss the challenges you are currently faced with and what you are looking to achieve with a trusted mortgage advisor in Coventry.
During your free mortgage appointment with a mortgage advisor in Coventry, you will need to provide information about your income and expenses to determine your affordability.
Although certain circumstances may limit your options, we will search through 1000 deals to find the best possible solution for you.
Our next step is to obtain an agreement in principle, which can be used to support any purchase offers you make.
Once you accept a purchase offer, your mortgage advisor in Coventry will proceed to submit your full mortgage application and relevant evidence documents.
Throughout the process, your dedicated case manager will keep you informed until you receive your mortgage offer and complete your purchase.
Our service goes beyond merely obtaining the best deal. We will also advise you on relevant insurance policies to safeguard you and your family financially.
We will contact you again when your mortgage is due for renewal to ensure that you are still on the most favorable deals.
If you happen to be concerned about your credit score at all, we would highly suggest that you look to obtain for yourself an up-to-date credit report.
This will be incredibly useful when it comes to your free initial mortgage appointment, as your personal credit report gives us a much better overview of you as a person, what you are looking to achieve and what might be the best route to take when looking to find you the best mortgage deal.
Here at Coventrymoneyman we are able to choose from a wide variety of specialist mortgage lenders on panel, each who have their own strict mortgage lending criteria that we are able to match our customers against.
Our expert team of mortgage advisors in Coventry are able to use their knowledge and experience that they have been able to gather over their multitude of years within the world of mortgages, in order to recommend a customer the absolute best available deal for their situation, that they qualify for.
We always work hard for our customers, making sure they’re put first and with their best interests at heart. We aim to keep all of our customers well informed and looked after throughout their process, providing them with the best service we can possibly provide and answering any questions they have.
As a company that truly prides itself on being able to provide everyone who gets in touch with fast, friendly, clear & simple mortgage advice in Coventry, we will be there throughout your entire mortgage journey. Book your free mortgage appointment and we will see how we are able to help you.
When a customer finds themselves experiencing a particularly difficult process and can’t seem to find a lender that is willing to accept their mortgage application, we will make sure we are on hand to provide expert mortgage advice in Coventry, using our knowledge to guide them throughout their mortgage journey.
As an open & honest mortgage broker in Coventry with a strong reputation for working hard for mortgage customers, we have spoken to countless individuals over the years, each with a wide variety of mortgage circumstances.
If somebody has come out to the property and performed a property survey on your potential new place to live, only to find out that you have offered (and had accepted) more than the property is worth, this is called a Property Down Valuation.
These situations are not entirely impossible to work with, they can just make the process a little more complicated than it would have been initially. There is a chance when this happens, that your lender may actually pull out of your deal. Luckily this can be worked around if you are able to make up the difference between your offer and the true value of the property.
If your relationship suddenly goes awry and you end up divorced or separating, making arrangements for any joint finances you have together, especially if one of those is a mortgage, can be quite a difficult process. It is important to make sure you sort all of this out as soon as you can. The longer you leave it, the more difficult it becomes.
If we segue from the previously mentioned scenario, you may look at the possibility of removing either yours or your ex-partners name from your current mortgage. Depending on whether or not one of you can afford this mortgage on your own, you may have limited options. Mortgage lenders will prefer two incomes and reluctantly reduce some of their own security.
If you are currently married and find yourself in the market for a mortgage on a home for both you and your partner, you will notice that a mortgage lender would much prefer to have two incomes if they can, for their own security, though it certainly is possible to obtain a mortgage in just a sole name.
The Shared Ownership Scheme is quite a helpful tool for potential mortgage applicants to be able to take out their mortgage as a share of the property instead of the full purchase price, as a percentage of the property. Generally speaking, this will be somewhere between 25-75% of the property purchase price, though this can be different.
Whether it’s the local council or the housing association, the third party who owns the remaining share will be paid back on a monthly basis as a rental fee, alongside the monthly mortgage repayments you make back to your mortgage lender.
Professional mortgages are only accessible by very specific professions across the United Kingdom. It is a specifically niche area of the mortgage market, so it is absolutely recommended that you get in touch with a qualified mortgage advisor in Coventry to learn more about this type of mortgage.
If you are considering taking out a mortgage on any additional properties, you will need to be able to prove to the mortgage lender that you are financially able to cover the costs of these mortgage payments at the same time. We are able to help you prepare for this.
Holiday lets are similarly functioning to buy to lets in Coventry, though the difference between the two is that a buy to let will usually have long term tenants, whereas holiday lets are known for having multiple short term tenancies.
Because of the nature of a holiday let, you may not be able to rent out your home at all during the off-seasons, as potential tenants may not be interested. The mortgage lender will need to have the utmost confidence in your ability to repay your mortgage in any situation, whether you have a tenant or not.
New builds are often quite a deal more costly to invest in than properties from other periods. If you are finding the initial step of saving up for the deposit to be quite a difficult step and you are a first time buyer in Coventry, you may benefit from using the Help to Buy Equity Loan Scheme as a way to find your footing on the property ladder.
A ‘non-standard’ property is what you would call a property that has not been built in a conventional way, say with bricks and mortar.
For a home buyer to take out a mortgage on a property such as this, you would need to be applying for an incredibly specialist mortgage deal. We would also very much recommend that you get a full structural property survey if you’re looking to buy this sort of property.
HMO mortgages are another variation of a buy to let in Coventry that will typically have between 4-6 tenants, functioning similarly to that of student housing. HMOs are often quite complex investments to work with. We would suggest obtaining specialist buy to let mortgage advice in Coventry prior to taking on a HMO property.
You may be able to release the equity that you have built up over a length of time. To convert that into personal funds, you’ll need to take out a Lifetime Mortgage, though this only applies to people past the age of 55, with properties worth over £70,000.
To learn more about this type of mortgage, speak with a specialist Later Life Mortgage Advisor in Coventry.
Offset mortgages will open up a savings account to run alongside your mortgage. This type of mortgage is generally considered to be quite a useful way of helping you to access competitive interest rates and various mortgage products that are available with different mortgage lenders.