When thinking about mortgages we often think about applying for a loan that is a high figure, with a deposit that is usually around 10% of the overall value of the property as an additional cost to factor into any proposal. What happens though if you are thinking of only a small mortgage?
In some cases traditional lenders might not have looked that favourably at an application for a small mortgage of around £50,000 to £60,000, but with our extensive network of mortgage lenders we know that we have the ability to connect you to the perfect mortgage lender for your specific needs, whether you need a large mortgage, a small mortgage, or you are applying for an adverse credit mortgage.
With a small mortgage of around £60,000 it should be quite a simple process for a lender to allow an application, with lower mortgage payments meaning that an applicant is more likely to be looked at favourably with easier payments to make over the course of the loan. Smaller loans should be easier to meet affordability tests.
Of course, having an expert hand to guide you through a mortgage application is always advantageous, even if the process is a straightforward one. At Central Mortgages we have years of experience in helping mortgage applicants to secure the best deals for their unique circumstances. To find out more about our service, and to be linked to one of our impeccable mortgage lenders, contact the team today on 01277 630 183 or office@centralmortgages.net.
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