Useful Information Guides from Bath Mortgages Online

Why Choose Bath Mortgages Online to be your Independent Mortgage Broker?
Bath Mortgages Online is an independent, whole of market, mortgage broker. Bath Mortgages Online provides expert independent mortgage advice for everyone from first time buyers and for those looking to remortgage, through to experienced buy to let landlords and businesses looking to fund commercial properties. We offer expert independent mortgage advice with a personal touch, with over 25 years’ experience and the majority our clients staying with us for all their house purchases. As an independent mortgage broker we can research the best possible mortgage to meet your specific needs and ensure you receive the very best deal, best rate and terms.
Useful Information for a speedy mortgage application
We will initially send you a short questionnaire which we would ask you to complete in as much detail as possible, as this provides us with an excellent overview of you and your requirements from the outset.
As part of the mortgage application process there are a number of important documents, we require from you and obtaining these as early as possible is vitally important for two key reasons. Firstly, it will help us have a full understanding of your situation meaning that we can provide you with the best possible advice. Secondly, it will ensure that once your mortgage application meets all the regulated compliance and FCA money laundering requirements, it will progress as smoothly as possible. Please note in most cases we can accept scans of documents unless specified below. Scans in PDF format are preferable to photographed documents. 
Please click the link to view or download our Useful Information for a Speedy Mortgage guide.
First Time Buyer  Information 
Let Us Help You Improve Your Chances of Getting a Mortgage
Here at Bath Mortgages Online, we understand that getting your first mortgage, or even a remortgage, especially if your circumstances have changed, may look like an impossible task, but we are here to help.
We hold your hand from your initial enquiry through to the completion of your purchase. It's not that tricky and there are ways you can improve your odds and boost your chances of a successful mortgage application.
You'll need to be as attractive as possible to lenders if you want to get the best mortgage deal. Here are some top tips on how to boost your chances of getting the deal you want. 
Please click the link to view or download our 
Let Us Help you through the Mortgage & Buying Process
Bristol Mortgages Online, Bath Mortgages Online and Exeter Mortgages Online are all independent, whole of market, mortgage brokers that focus on finding a great deal and the best mortgage for you and your personal circumstances. Our expert team will guide you through the whole process, all the way through to completion. Due to the excellent relationships we have with many lenders, we can offer the most attractive mortgages on the market, some of which are only available through broker routes. 
Your first step is to arrange a free initial consultation with one of our Advisers. Depending on location and availability we can either come to see you at home or you can visit us by appointment at our offices in Henleaze, Bristol, Queen Street, Bath or Topsham in Exeter. Your experienced, expert Adviser will deal with you on a dedicated basis from your first appointment through to completion. At your free initial consultation, our Adviser will discuss with you any specific requirements, including your current circumstances, how much you can afford and your deposit. Your current employment status and earnings plus your credit history will also have a bearing on the type of mortgages we will recommend. Our Adviser will also give you expert advice about Protection insurance and other costs.

Please click the link to view or download our Let Us Help You Through the Mortgage & Buying Process guide
Let Us Help You With Making an Offer
When you make an offer on a property, it is more likely to be accepted if it is based on your knowledge of the seller and the local market as well as the house itself. While a bit of haggling is often to be expected, do not offer so little that you enter a lengthy negotiation process, as you might lose the property altogether if someone else makes a higher bid. If there have been other offers on the property, the estate agent cannot legally tell you how much they were for, but they may indicate whether they were close to the asking price, which will also help to inform your own offer.
Please click the link to view or download our Let Us Help You  with Making an Offer guide
Gifted Deposits - An Essential Guide
A gifted deposit is a sum of money that is typically given by a family member forming all or part of a deposit for somebody wanting to buy a property. It is possible for friends to gift money to enable someone to buy a property, but is less favourable for lenders.
Please click the link to view or download our Gifted Deposits - An essential guide
Useful Information about using a HTB ISA or LISA towards your deposit
You can use the Help to Buy: ISA or Lifetime ISA with other government schemes, towards your first-time buyer deposit.
There are guidlenes you must follow to use your government bonus. Please see our guide for more information.
Useful Information for ALL buyers
Stamp Duty Information from 23 September 2022
You must pay Stamp Duty Land Tax (SDLT) if you buy a property or land over a certain price in England and Northern Ireland.
You pay the tax when you:
• buy a freehold property
• buy a new or existing leasehold
• buy a property through a shared ownership scheme
• are transferred land or property in exchange for payment, for example you take on a mortgage or buy a share in a house
The threshold is where SDLT starts to apply. If you buy a property for less than the threshold, there’s no SDLT to pay. The current SDLT threshold for residential properties is £250,000. The threshold for non-residential land and properties is £150,000.
You’ll get a discount (relief) that means you’ll pay less or no tax if both the following apply:
• you, and anyone else you’re buying with, are first-time buyers
• the purchase price is £625,000 or less
You usually pay Stamp Duty Land Tax (SDLT) on increasing portions of the property price when you buy residential property, for example a house or flat. SDLT only applies to properties over a certain value.
The amount you pay depends on:
• when you bought the property
• how much you paid for it
You must send an SDLT return if you pay more than £40,000 for a property - even if there’s no SDLT due. This is usually dealt with by your Solicitor or Conveyancer.
Let Us Help You to Arrange Your Conveyancing
We are able to offer our clients a choice of local solicitors at comparatively discounted costs. They are local and approachable, giving you the reassurance when buying or remortgaging. We have worked with these professional conveyancing experts and can recommend their services. Please contact us to provide you with a quote so you can see the saving.
Please click the link to view or download our Let Us Help You to Arrange Your Conveyancing guide
Let Us Help You with Arranging a Survey
One in five home buyers rely solely on a mortgage valuation report, so it’s no surprise that many are hit with repair bills once they move in. Getting a survey can help avoid the stress and cost of making repairs further down the line. Choose a survey based on the condition of the property itself, not the cost of the survey. Money spent on a decent survey can save you a fortune in the future.
Please click the link to view or download our Let Us Help You with Arranging a Survey guide

Let us help you to arrange a mortgage if you are Self-Employed

At Bristol, Weston, Bath and Exeter Mortgages Online we deal with a great many clients who have their own businesses and will gladly discuss all the options available to you if you are self-employed, even if you only have one year’s accounts.Please click the link to view or download our

Let Us Help You get a Self-Employed mortgage guide

Let us help you if you have an Adverse Credit History

A poor credit rating can be a major barrier to getting a mortgage, but the good news is, there are lenders who are prepared to help those whose applications may be refused elsewhere. It might not seem fair but even having a big deposit in place and a decent salary isn’t enough to guarantee you a mortgage, if you have a poor credit history.

Banks and building societies are cautious about who they lend to, so they always check credit reports carefully to see if potential mortgage customers have defaulted on any debt payments in the past. They will also look for any County Court Judgments (CCJs) against you, or if you have ever filed for bankruptcy. In any of these scenarios apply, the chances are you won’t be eligible for some mortgage deals that are on offer – even if your financial problems occurred in the past few years.

There are some mortgages however, which are specifically designed for those whose credit history is far from perfect. Our team of expert Advisers will give you advice about the most appropriate mortgage and/or lender to apply to. As fully independent brokers we will look at all the options available to you.

Please click the link to view or download our Let Us Help You if you have Adverse Credit guide

Useful Information for Buy to Let Landlords and Investors
Let Us Help You Become a Buy to Let Landlord
Bristol Mortgages Online have excellent arrangements with many specialist Buy to Let lenders that are often only accessible through Independent Mortgage Brokers like ourselves.
We can help you from the very beginning to become a Buy to Let Investor, plus we can recommend experts that we work closely with. We will help you to:
  • Find the best Buy to Let Mortgage
  • Arrange for you to meet specialist Accountants for setting up your business and tax advice.
  • Recommend experienced, professional and good value Solicitors for conveyancing.
  • Put you in touch with Brokers for Landlord and other Insurance products.
  • Help you source Investment Properties throughout the UK.
  • This will all start with a Free Consultation with one of our Expert Mortgage Advisers.
Please click the link to view or download our Let Us Help You to become a Buy to Let Landlord guide

Let Us Help You Understand More About HMOs

Lenders consider HMOs as specialist properties, which means getting a mortgage on one can be more complicated and expensive than if you were letting a standard home. Previously, a property was only classified as an HMO if it was at least three storeys high, but this rule was removed in England and Wales, pushing thousands of rented homes into the HMO category. The usual deposit required is 25%.

Please click the link to view or download our Let Us Help You Understand More About HMOs guide

Let Us Help You Buy at Auction
 Property auctions are usually planned well in advance, with auction houses publicly releasing a catalogue of 'lots' (properties) to bidders ahead of the auction date. Most auction houses publish their catalogues around a month before the auction, but some leave it until as little as two weeks before. Each property will be listed with a 'guide price', which is what it's expected to sell for. Sometimes the seller will also set a 'reserve price', which is the lowest price they will accept, but this is usually kept private until the auction has ended. 
Please click the link to view or download our Let Us Help You Buy at Auction guide
Equity Release Plans and Lifetime Mortgages
Let Us Help You Choose the best Equity Release plan
Equity release refers to a range of products that let you access the equity (cash) tied up in your home if you are over the age of 55. You can take the money you release as a lump sum or, in several smaller amounts or as a combination of both.
Please click the link to view or download Equity Release - An Essential Guide 

Life Cover, Critical Illness and Protection Insurance
Let Us Help You Arrange Your Protection & Insurance Cover
We always recommend a Fully Protected Mortgage
As an Independent Mortgage Broker, we are not only mortgage specialists, but we can also access the whole market for your insurance protection needs too. Many banks and building societies and estate agents are “tied” to one insurer, and therefore cannot compete with an Independent specialist like us on cost or benefits as they only offer one product. This is a complex area and, in our view, is sometimes a more important decision than the mortgage. Whereas a mortgage deal may only last two or three years, the right protection could last the whole term! 
Please click the link to view or download our Let Us Help You Arrange Your Protection & Insurance Cover guide


Bath Mortgages Online
1st Floor
33 Gay Street
Bath 
BA1 2NT

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