Haverfords Mortgages

Buying a home

is likely to be the best long-term investment most people ever make. The advantage of a repayment mortgage is that it provides the kind of discipline most investors just don’t have - and at the end you’ll hopefully own an asset worth a small fortune. 
We provide independent and whole of the market advice on mortgages and the home buying process for clients in Peterborough and surrounding areas. We help first time buyers (including those who purchase with the help of government schemes), existing homeowners as well as investment buyers and large portfolio holders.


HOW MUCH DOES IT COST?

If you like to budget and are concerned about the cost of purchasing a residential property, these are the approximate costs involved. They may change but were correct in November 2019.

RESIDENTIAL PURCHASE
Solicitors £900 - £1500
Valuation fee* £120 - £600
Homebuyer Insurance** £90
Lender application fee *** £0 - £1000
Mortgage advice fee # #
Stamp duty ## ##

* depending on the type of valuation you require and lender's charge
** not mandatory
*** depending on selected mortgage product
# Mortgage Advice Fees Table below
## depending on the purchase price

Mortgage Advice Fees Table

New Customers
Residential properties – Standard Purchase or Remortgage - £299
Residential Properties – Product Switch - £149
Residential Properties – Complex Case* - £499
BTL property (Small Landlord**) – Purchase or Remortgage - £299
BTL Property (Small Landlord**) - Product Switch - £149
BTL Property (Small Landlord**) - Complex Case - £499
BTL property (Portfolio Landlord***) – Purchase or Remortgage - £399
BTL Property (Portfolio Landlord***) - Product Switch - £249
BTL Property (Portfolio Landlord***) - Complex Case - £599

Existing Customers
Residential Properties – Remortgage (including capital raising and further advance) - £0
Residential Properties – Product Switch - £0
Residential Properties – Remortgage Complex Case - £0
Residential Properties - New Purchase (including complex cases) - £99
Residential Properties - New Purchase (including complex cases) - bought via auction - £199
BTL property (Small Landlord**) – Remortgage - £0
BTL Property (Small Landlord**) - Product Switch - £0
BTL Property (Small Landlord**) – New Purchase (including complex cases) - £149
BTL Property (Small Landlord**) – New Purchase (including complex cases) - bought via auction - £299
BTL property (Portfolio Landlord***) – Remortgage - £0
BTL Property (Portfolio Landlord***) - Product Switch - £0
BTL Property (Portfolio Landlord***) – New Purchase (including Complex Case) - £349

*Complex Case* - defined as
  • where one or more applicants have adverse credit history,
  • purchase or remortgage of second residential property
  • Interest only mortgage application for residential property,
  • Application for later life mortgage (such as Retirement Interest Only, Later Life Mortgage)
  • All applications for property bought via auction
  • Serviced accommodation
  • Holiday Let
  • Applications from professional landlords
  • Equity Release

**Small Landlord - A small landlord is a borrower with up to 3 distinct mortgaged Buy to Let UK rental properties. This includes properties owned through a limited company, 'consent to let' properties and all BTL mortgages owned solely or jointly by the applicant(s).

*** Portfolio Landlord - A portfolio landlord is a borrower with four or more distinct mortgaged Buy to Let UK rental properties. This includes properties owned through a limited company, 'consent to let' properties and all BTL mortgages owned solely or jointly by the applicant(s).
 
5 STEPS OF SECURING MORTGAGE OFFER
Information gathering, about your personal and financial circumstances, such as employment and credit history. We will also discuss various mortgage types and repayment options to ensure the loan is most suitable and meets your needs and requirements.
This will involve a full credit check by the lender and confirm in writing how much they are prepared to lend to you, subject to them checking the information you have given to them. This AIP can then be used to confirm your credit worthiness and seriousness as a bidder to the seller of the property.
More detailed information is provided to the lender. Usually, once the full mortgage application is submitted the lender will ask for documents evidencing the information provided, such as recent wageslips, bank statements or accounts for self – employed individuals.
The mortgage valuation is for the benefit of the mortgage lender. It is designed to give enough information for the lender to decide whether the property is safe to lend on, and up to what amount. Though you may pay for the report, you might not get a copy or even see what the surveyor has written.
When the lender has completed all of their checks and everything is satisfactory, they will send you a ‘Mortgage Offer’ which is a formal document confirming that your mortgage loan has been agreed. The Mortgage Offer includes a full illustration of mortgage costs and terms. A copy will be sent directly to your legal representative and financial adviser who will then be able to finalise the purchase on your behalf.

FREE INITIAL CONSULTATION
Our company is all about making sure that every penny you spend goes a long way. This is why we do not charge for initial consultation. What you can expect from the first appointment with our adviser?
1. Assessment of your personal, financial situation. We’ll ask you to fill out our Fact Find document. This can be done on line, via email or in person. You choose what’s the best
2. Understanding of your needs and requirements. We will ask you about your preferred types of mortgages, repayment strategies, and other features of the mortgage product
3. Obtaining a Decision in Principle from the selected lender

Free Initial Consultation / Need Help ? Contact Us