Moving home can be a daunting process
At Cherry Godfrey we aim to take the stress out of the process and make it an enjoyable
experience rather than a daunting one.
When people are moving property, they will often go straight to their existing lender. However, circumstances may well have changed since they took out their original Mortgage and other options with a different lender may be better suited to them.
As an Independent Mortgage Broker, Cherry Godfrey has access to the whole of market, which guarantees you access to the most competitive rates and Mortgage arrangements in the marketplace, based on your individual circumstances and needs.
Our experienced and fully qualified Mortgage Specialists will guide you through the whole process, from initial enquiry to moving into your new home.
Other specialists at Cherry Godfrey can then assist with arranging Home Insurance to protect your new home and Life Insurance to protect you and your family, making Cherry Godfrey truly a 'one-stop shop' for all your requirements and we will do everything possible to make the Mortgage process run as smoothly as possible for you.
How much can I expect to be able to borrow if I apply for a Mortgage?
Each lender calculates the maximum you can borrow based on their individual criteria. Here at Cherry Godfrey, we can provide you with expert advice and recommendations, tailoring your needs and circumstances to the most appropriate provider. This gives our customers the best possible chance of maximising the amount they need to borrow, whilst ensuring the most suitable and competitive product from the whole of the market.
What is the minimum deposit that I would need to be eligible to apply for a Mortgage?
Typically, you would need to be able to put down between 5% and 10% of the property value for a residential mortgage, and between 20% and 25% for a Buy to Let mortgage in the current market. Our advisers at Cherry Godfrey can provide you with options from the whole of the market, giving you the best possible choice. We will also talk you through all the fees associated with the transaction.
How much will my mortgage cost me?
The cost of your mortgage is determined by many different factors, including the initial interest rate, the term, the repayment method any associated fees and costs. With the vast array of lenders, products and types of mortgage available, finding the most appropriate solution for you can be a daunting prospect. Here at Cherry Godfrey, we are dedicated to providing professional advice, to tailor a package that compliments your objectives.
Do I need to Insure my property?
Yes, you will need to take out Insurance to cover the buildings (unless you are buying a flat) and we recommend that you also cover your personal contents. We can guide you on the amount you need to insure and provide you with a competitive quote.
What documentation do I need to provide?
Whilst each lender will have different requirements, some of the documents typically requested will include:
• Proof of income (Latest 3 months’ pay slips if you are employed, or latest 2 years’ tax returns if you are self- employed)
• Passport and driving licence (or alternative form of identification)
• Latest 3 months’ bank statements
• Proof of deposit (for example a bank statement for the savings account it’s held in or a gift letter if the deposit is being gifted to you)
How long does it take to get a decision on my mortgage application?
We always look to obtain a decision in principle from the proposed lender which usually takes a matter of minutes. For approval of a fully underwritten mortgage application, this can take between 2 and 4 weeks, although occasionally quicker. Once your application has been submitted, Cherry Godfrey will keep you fully updated on progress made, not only until you receive a mortgage offer, but right through to legal completion.