Your guide to mortgages

• How does a residential mortgage work?
  A mortgage is a loan that you use to buy a property. When you buy a home, you’ll put
  down a deposit. This is usually at least 5% of the property price and you pay for the rest
  using a mortgage from a bank or building society. You then pay the mortgage plus interest
  back in monthly instalments over a set number of years. This will decrease over time if
  you are on a capital repayment mortgage and keep up your monthly payments.
• How much can I borrow?
  Residential mortgages come in many shapes and sizes. Our brokers look at individua;
  financial circumstances, along with your available deposit to work out your maximum
  borrowing amount using affordability calculations from hundreds of lenders
• Can you get a mortgage if you have low or bad credit?
  Yes, there are a number of lenders out there who can help you on to the property ladder
  even with low or poor credit. That is where the experience of our brokers really can help
  you get the right mortgage for you.
• Do I need life insurance?
  Without life insurance your loved ones might not be able to fund the mortgage, or other day-to-day expenses if you were to pass away, which could end up in your family being forced to sell and move out. The best way to determine whether or not you need life insurance is to ask yourself a few simple questions:
  • Would my family be financially stable on their own in making certain payments, such as
    the mortgage or daily expenses?
  • Would my death have a financial impact on my Parents, children or partner?
  • What documentation will I need?
  • Proof of address dated within the last 3 months (utility bill, council tax annual statement,
    bank statement)
  • Proof of ID (Valid passport or driving licence)
  • Latest 3 months payslips
  • Latest 2 years tax calculations and tax year overviews (If self-employed)
  • Latest 3 months personal bank statements
  • Proof of deposit (if applicable)

NGAGE are unable to advise of insurance / protection products but would recommend that you seek independent advice.

• Who can get a mortgage?
  If your employed, self-employed or a contract worker we can help. All you need is a
  deposit and income and we can help you find a mortgage to suit your needs.
• Why use a mortgage broker?
  We are experts in our field and we can explain the house buying process and all the costs
  involved. We are fully authorised and regulated by the FCA to give you mortgage and
  protection advice. We have direct access to thousands of exclusive mortgage deals from
  across the entire market with our established links with these lenders. We take care of all
  your mortgage and protection arrangements
• Will getting a quote affect my credit score?
  No, getting a quote will not impact your credit score.