Mortgage Solutions2022-04-19T14:02:22+01:00
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Residential MortgagesBuy To Let MortgagesProtection Cowens Mortgage Solutions

FINDING A MORTGAGE THAT IS RIGHT FOR YOU

TEL: 01623 666 123

cowens mortgage solutions

Welcome to Cowens Mortgage Solutions

Cowens Mortgage Solutions offers impartial mortgage advice with access to the whole market. Whether you’re buying your first home, next home or remortgaging, we’re here to help find the right mortgage for you.

Why Choose Us

  • No cost to you & no obligation, initial consultation

  • Unbiased advice with whole of market access

  • Access to thousands of products across the market including exclusive products unavailable on the high street

  • Specialist lending available, adverse credit and complex circumstances considered

  • A friendly, reliable personal service tailored around you

  • Tailored advice with knowledge of the marketplace

  • We will add simplicity to what can be a complicated process

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FAQs

How does the first appointment work?2022-02-18T16:47:58+00:00

The first appointment will typically last around an hour and comes at no cost to you and without obligation. This can be held to suit you, whether over a coffee together or on a video or phone call.

At this point, we will go through a fact finding exercise to allow us to understand your current circumstances and what you are ideally looking to accomplish.

Your adviser will then discuss your needs with you and whether there is a feasible solution to meet these. We can give you an indication whether there’s a lender that can consider you at this present time or if the timing is not quite right, give you an idea on how you can improve your position and the likelihood of being accepted for a mortgage in the future.

Please get in touch with Cowens’ expert mortgage adviser to discuss further.

How does the process work?2022-01-25T14:00:45+00:00

The mortgage process consists of different steps throughout the journey, from gathering the initial requirements, securing a decision in principle from a lender, assessment of the application- including a valuation of the property.

If the application is acceptable to the lender then they will issue you with a mortgage offer. This is a commitment from the lender to provide necessary funds within an agreed time period, so that you can continue with your purchase and know that you can have piece of mind that finance will be available when you need it.

Please get in touch with Cowens’ expert mortgage adviser to discuss further.

When should you obtain a decision in principle?2022-01-25T14:05:13+00:00

A decision in principle is a good first step to start seriously looking for a home. It’s easy to get excited once you decide that you want to buy a property and the last thing you want to do is spend weeks looking for a home, to then find your dream home and realise you’re unlikely to be considered by an estate agent without a decision in principle.

A decision in principle will give a key indication that you can get the money required for your purchase, subject to a full assessment and on the whole proves to an estate agent that you are serious about purchasing a home.

Please get in touch with Cowens’ expert mortgage adviser to discuss further.

How long does the agreement in principle last?2022-01-25T14:27:04+00:00

This can vary depending on which lender you apply to, but typically they are valid between 30-90 days. If it expires before you find your property, we can quickly look to reapply for another valid decision.

Please get in touch with Cowens’ expert mortgage adviser to discuss further.

What does an agreement in principle involve?2022-01-25T14:02:07+00:00

A decision in principle is a decision from a lender as to whether they can consider your mortgage requirements.

The lender will gather information about you and your mortgage needs, along with your credit history and will use this information against their current risk assessment to give you an indication if they can consider your mortgage requirements.

It is important to remember this is not a mortgage offer and should not be treated as one as the case will still need to be assessed on full application. However, it’s the best indication that you can be considered by a lender prior to finding a property and submitting a full application.

Please get in touch with Cowens’ expert mortgage adviser to discuss further.

How long does the decision in principle take?2022-01-25T14:18:22+00:00

Following our first appointment and once we have agreed what your loan requirements are likely to be, we can look to apply for a decision in principle within 24 hours. Usually the lender will give an instant decision as to whether or not they will consider you at this time. However, there may be certain occasions where the lender will refer to a further assessment before giving a decision.

Please get in touch with Cowens’ expert mortgage adviser to discuss further.

How much deposit do I need?2022-01-25T15:59:22+00:00

Typically for residential purchases, you will require a minimum of 5% deposit, however depending on your credit rating and circumstances you may be required to put a larger sum down as deposit.

For Buy to let purchases, you will typically be required to put down a larger deposit initially because of the increased risk involved in lending. Again, this will be dependent on your circumstances and the purchase property details. Most lenders will consider a 25% deposit, however as all circumstances are different some lenders will consider a deposit as little as 15%.

Please get in touch with Cowens’ expert mortgage adviser to discuss further.

Can I get a mortgage with bad or adverse credit?2022-01-25T17:27:11+00:00

If you’ve had bad credit in the past, this doesn’t mean you cannot be considered for mortgages in the future, however you just might find your options are more limited.

Every lender has a different risk assessment in terms of who they are prepared to lend to. There are ‘clean lenders’ who will stay clear of adverse credit, there are some lenders that will consider a few minor issues, but you also have specialist lenders that can offer products specifically designed towards people with adverse credit history.

You may have to put more of a deposit down or be on a slightly higher interest rate than if you had a clean credit history, but there are options available to help you get back on track.

Please get in touch with Cowens’ expert mortgage adviser to discuss further.

I’m self employed, can I get a mortgage?2022-01-25T16:04:08+00:00

Mortgages are just as widely available to the self-employed as they are to the employed. They are just assessed in a different way, which can make it harder to prove a sustainable income.

Typically, most lenders will look to assess a period over the last 2-3 years in terms of sustainability of income received, others will consider the latest year depending on circumstances.

Everyone has a different set of circumstances, even if you think you can’t be considered, you should still contact us for clarity, as there are instances where you could be considered with just one years of accounts. We do have whole of market access and so we may be able to find a lender to suit your needs.

Please get in touch with Cowens’ expert mortgage adviser to discuss further.

What documents will I need to send?2022-01-25T16:05:35+00:00

In all applications we request that standard documentation will be the last four months’ payslips if employed, or the last three years of accounts, self-assessment forms & tax calculations if self-employed.

We will also need identification and proof of address documents, and the last four months of bank statements showing all income and outgoings. If you don’t quite have all these documents, please still get in touch as depending on your circumstances we may be able to help.

Please get in touch with Cowens’ expert mortgage adviser to discuss your circumstances further.

I am a foreign national, can I get a mortgage?2022-01-25T16:06:44+00:00

If you do not have permanent rights to reside in the UK, depending on your circumstances you may still be able to get a mortgage, a lot will depend on your visa status, nationality, and your plans for residency.

You may be required to put more deposit down as well, but there are options where lenders can consider foreign nationals and we can access these as we have whole of market access.

Please get in touch with Cowens’ expert mortgage adviser to discuss your circumstances further.

Which areas do you cover?2022-01-25T16:12:00+00:00

Although we are based in Nottinghamshire we also cover the surrounding areas in the East Midlands as well as the West Midlands.

We are also able to conduct business nationwide, although if we are not seeing you face to face, extra checks will be carried out to confirm your identity.

Please get in touch with Cowens’ expert mortgage adviser to discuss your circumstances further.

Useful Links & Tools

House Purchase Process
Mortgage Affordability Calculator
Mortgage Calculator
Stamp Duty Calculator
Your home may be repossessed if you do not keep up repayments on your mortgage
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