First Time Buyer:
The maximum mortgage available is 90%, however this should be seen as guide only and for a specific assessment on to your own circumstances , please contact Anita Cambie Financial Limited or apply on line and we will guide you through the process.
Please read the current typical lending criteria below.
You must be in secure permanent employment or if self employed you will have to be well established and be in a position to show 2 years audited accounts.
You must have a deposit available for the purchase price and also have available funds to cover stamp duty and legal fees.
You should have a good credit history and should be able to demonstrate through previous savings/rental payments that you have the ability comfortably afford the proposed mortgage repayments. If you are currently paying rent it is beneficial to show the rent paid by direct debit from your account.
Unnecessary or large credit cards balances and personal loans could work against your application.
Please note the above is a guide only and is not written in stone, each application will accessed on its own merits
Warning: Your home is at risk if you do not keep up payments on a mortgage or any other loan secured on it.
Opportunities exist for switching to a cheaper lender, providing that you meet the following current lending criteria.
The criteria is typically as follows:
The maximum mortgage cannot exceed 80%of the current value of your homeIf you are consolidating short term loans as part of your re mortgage, the value of these loans cannot exceed 40,000, typically credit card debt will not be consolidated.
Normal lending criteria will apply in regard to security to employment, clean credit history and well managed current accounts.
Re mortgage now and you could save on your mortgage overall.
WARNING ON DEBT CONSOLIDATION
Warning: This new loan may take longer to pay off than your previous loans. This means you may pay more than if you paid over the shorter term
Mortgage terms should be kept as short as possible, consistent with your repayment means.
Warning: you may have to pay a charge/penalty if you pay off a fixed- rate loan early. If you are considering re mortgaging from your current provider please ensure that there are no exit penalties.
MOVING HOME/ TRADING UP
Good Credit History good repayment history on previous mortgage
Strong current accounts
If the proposed mortgage repayments are higher that your previous mortgage, you must show the ability to pay the difference .
You must show that you have the equity/savings available to cover the deposit, cover the associated costs i.e. Stamp duty the legal fees for the sale of the previous property and the purchase of new home and auctioneering fees.
Ensure that there is no penalty to exit your existing mortgage
Warning: Your home is at risk if you do not keep up payments on a mortgage or any loan secured on it.