Finding a mortgage for a flat in Devizes

With hundreds of mortgage lenders and products to choose from, finding a suitable mortgage can be difficult even on a standard property in normal circumstances.  If the new home you have found is non-standard or your circumstances fall outside of lenders criteria this process becomes even more difficult to negotiate.  The choice of lenders reduces further when there are a combination of factors impacting the process.

Penny* approached us to help with her purchase of a flat in Devizes.  Her original mortgage broker had been unable to find a lender that was happy to lend on the flat as it was being considered a new-build, when in fact it was recently refurbished.  As Penny needed to borrow 95% of the purchase price this ruled out a significant number of potential lenders.  Whilst the flat was on the second floor, the ground floor was a retail premises, so reduced the choice further.  Additionally, due to the nature of her work Penny intended to work beyond state retirement age and wished to extend the term of the mortgage to age 80, which again reduced the choice of lenders even further.  With access to the whole of the market, our mortgage advisor Ian, was able to carry out extensive research and find a lender that was happy to lend to Penny within these criteria.  Throughout the process our mortgage advisor worked with the lender to negotiate these more complex criteria and ensure the case reached completion.

Our mortgage advisor also reviewed Pennys’ existing protection policies to ensure she had appropriate cover in place.  Penny decided to add in a critical illness policy and our advisor was able to source and arrange the most suitable product on the market.

Penny has now moved into her flat and is busy exploring her new home in Devizes.

*names have been changed to protect our clients.

There may be a fee for arranging your mortgage. The precise amount depends on your  circumstances. The fee is up to 1% of the amount borrowed, and a typical fee is 0.4% of the amount borrowed

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