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StepChange Financial Solutions


When it's important to you,
you need advice you can trust

 
Mortgage advice from StepChange Financial Solutions

Mortgage advice. A safe environment to explore your options.

Whether you’re a first-time buyer or you're thinking about your current mortgage arrangements, StepChange Financial Solutions can help.

You can trust us to lead you through the complexities of the mortgage maze. Saving you valuable time, stress and effort, while ensuring you get the most suitable mortgage solution, with a home loan that’s tailored to your needs and circumstances – whatever stage you are at. 

Specialist expertise

If you’ve got your eye on a property you’ll want to act quickly, but buying a home can be stressful. You need to know that the decision you make will be the right one for you. Our advisors can offer specialist expertise that can help.

You can turn to us for answers, for advice and even for help with the paperwork. Everything will be explained in clear terms, to enable you to feel confident you’re making informed decisions.

A range of options

With thousands of mortgages to choose from, your advisor will consider all the residential mortgages available to us as an intermediary. For those in or near retirement your advisor can also establish your retirement mortgage and equity release options, ensuring you benefit from the widest range of solutions.

Your home may be repossessed if you do not keep up repayments on your mortgage.

 

mortgage advice from StepChange

Find out about mortgages

We give advice about:

Residential mortgages »

Retirement mortgages »

Frequently asked questions

How long is the application process?

From sending in your application it normally takes six to eight weeks for the mortgage provider to release your funds. Your advisor will manage the entire process for you to complete on your mortgage as soon as possible.

What set up fees are involved and how much will the fees cost?

If you're re-mortgaging it's not uncommon for the mortgage provider to meet the cost of your valuation and legal fees. You may have to pay an application or booking fee.

If you're buying a new home you'd usually be required to pay for a valuation, meet your own legal costs and possibly pay an application or booking fee.  You may also be liable for stamp duty.

I have poor credit, will I be able to get a mortgage?

There are some mortgage providers who will consider those with credit impairments although a high rate of interest will most likely apply. A successful application would depend on the equity available in your home and how you've managed your debt over the past few years.

What type of valuation do I need?

It all depends on how much you wish to find out about the condition of the property. The three most common valuation reports are; a basic valuation to establish the property’s value. A home buyers report which will also identify works to the property that need immediate attention and a structural survey will give you a full analysis of the structural integrity of the property, identify current and future works required and of course confirm the value.

How much can I borrow?

What you can borrow is based on what you can afford. Each mortgage provider has different affordability criteria. Your advisor will complete a full income and expenditure assessment to help you establish how much you can borrow.

What age can I have a mortgage until?

Some mortgage providers will allow you to maintain a mortgage in retirement providing you can afford the payments, though it would need to be repaid at a specific age. If you're in or near retirement you can also consider your suitability for a retirement mortgage or equity release plan.

Will mortgage providers accept benefit income?

Some mortgage providers will accept benefit income. As most means tested benefits aren't guaranteed and can change most mortgage providers will want to make sure you can afford the payments should your benefits reduce or stop.

I've just changed jobs, can I get a mortgage?

You can still qualify for a mortgage although it will depend on your new salary, type of contract and any probationary period.

How much deposit do I need?

The minimum deposit is usually 5%. Generally the bigger your deposit the more likely you are to benefit from a wider selection of mortgages and lower rates of interest.

Can I take out an interest only mortgage?

Interest only mortgages are still available but you would have to meet some very strict qualifying criteria. You would also be required to have an adequate repayment vehicle linked to the mortgage. To avoid the risks associated with an interest only mortgage most mortgage providers and clients prefer to borrow via a repayment mortgage which means your mortgage will be fully repaid at the end of your term if you make all your payments.

 

StepChange Financial Solutions is a registered trading name of Consumer Credit Counselling Service (Equity Release) Ltd. Authorised and regulated by the Financial Conduct Authority.

Book an appointment

0808 168 67199am to 5pm Monday to Friday

Free from all landlines and mobiles 

What our clients say

Our advisor was an absolute star. We genuinely couldn’t have bought our house without his help. StepChange is a wonderful organisation that gives real help to those who need it."

Helping you become debt free...

“I wish to thank your staff for all the great help they gave me when I was in so much debt.
They were a pillar of support to me.” (Leslie, Essex)

Foundation for Credit Counselling Wade House, Merrion Centre, Leeds, LS2 8NG trading as StepChange Debt Charity and StepChange Debt Charity Scotland. A registered charity no.1016630 and SC046263. It is a limited company registered in England and Wales (company no:2757055). Authorised and regulated by the Financial Conduct Authority.

*This is the average rating of our service on Feefo by DMP and DRO clients three months into their solution.

© StepChange Debt Charity 2016