This is called a higher lending charge and can vary with each lender and is calculated as a percentage of the amount borrowed over 75%. This can be expensive but in certain circumstances the lender may allow this to be added to the loan amount and paid for over the mortgage term.

We guide our clients through the whole purchase process which includes dealing with solicitors, insurance requirements, estate agents and lenders to ease the pressure that may fall upon our clients.

We would welcome your enquiry and we would ask you to fill in our enquiry form that will enable us to assess your situation and advise you correctly as to the suitability of various mortgages and insurance products.

The purchase of the first property can be frustrating and highly emotional due to the uncertainty of the unknown and is usually the largest single transaction the buyer would have undertaken to date.

Usually the purchaser(s) would either have lived with family or would have been renting their existing residence and would have little or no experience of the information they need to provide to allow a lender to assess the clients borrowing capacity or their status to obtain funds for a mortgage.

The purchaser(s) may not be aware of the contractual obligations of a legal charge (a mortgage).

Some borrowers may have the abliity to save a deposit and this would reflect in the assessment criteria of the lender.

Some borrowers would not have the ability to fund for a deposit. 100% mortgages are available but these genarally attract a slightly higher interest rate and the lender may require an indemnity insurance (to cover the extra risk to them in lending 100%).