Truffle Mortgages: Cardiff’s Answer To Simpler Mortgages
Getting a mortgage can be a difficult task due to a number of factors and one of the main reasons is affordability. Lenders will typically want to see evidence that you can afford the monthly mortgage payments by taking into account your income, outgoings and any other debts you may have.
Another factor that can make it difficult is the increasingly strict lending criteria that have been put in place since the financial crisis of 2008. This means that borrowers now have to meet more stringent requirements such as having a good credit score, a large deposit and a steady employment history.
Additionally, the current economic climate has also made lenders more cautious about whom they lend to. As a result, many people may find it challenging to get a mortgage, particularly if they don’t meet the necessary criteria.
Using A Mortgage Broker
When it comes to getting a mortgage, a mortgage broker can be a valuable resource.
They can provide you with access to a range of mortgage products from various lenders, helping you to find the best deal for your needs. They can also advise you on the different types of mortgages available and help you understand the associated costs and fees.
A mortgage broker can also save you time and effort by handling the paperwork and liaising with the lender on your behalf. This can be particularly useful if you’re self-employed, have a complex financial situation or have a poor credit history.
In addition, many mortgage brokers have established relationships with lenders, which means they may be able to negotiate better rates or terms on your behalf.
This is where Truffle Mortgages comes in because they can provide you with expert advice and support throughout the mortgage application process, making it easier and more straightforward for you to find the right mortgage for your circumstances.
What Makes Truffle Mortgages Different?
Truffle is an independent mortgage broker in Cardiff who speaks your language and their main goal is to make mortgages simpler. Mortgages can be difficult but with over 30 years of experience, Truffle are experts at them.
Key to their success is giving the customer the power to make sensible decisions, which are correct for them, with full knowledge. This relies on asking the right questions and getting to know you and your dreams. When dealing with Truffle, you’ll have your very own expert to guide you through the process from start to finish.
With a modern office based in the centre of Penarth, they are conveniently located to cater for all local faces across the Vale of Glamorgan, Cardiff and the surrounding areas of South Wales. If you wish to visit the office, Truffle Mortgages are located at 1a First Floor, Stanwell Road, Penarth, CF64 2AB or you can give them a call on 0800 072 72 85.
What Is Truffle’s Top Tips To Getting A Mortgage?
We Spoke to James (the director of Truffle Mortgages) and he gave us some of his top tips to those looking to get a mortgage and move into their dream home:
- Improve your credit score: Lenders will use your credit score to assess your creditworthiness, so make sure it’s in good shape before applying. Pay off any outstanding debts and avoid making multiple credit applications at once.
- Save for a deposit: Having a larger deposit can increase your chances of getting a mortgage and may also help you secure better interest rates. Aim to save at least 5% of the property’s value but the more you can save, the better.
- Compare mortgage deals or use a broker: If you don’t use a mortgage broker, ensure that you shop around and compare different mortgage deals from various lenders to find the best option for you. Use online comparison sites, speak to your bank or building society and read mortgage guides to help you make an informed decision.
- Get your paperwork in order: To apply for a mortgage, you’ll need to provide various documents, including payslips, bank statements and proof of ID. Make sure you have these ready before you apply to speed up the process.
- Be realistic about what you can afford: It’s essential to be honest with yourself about what you can realistically afford. Use a mortgage calculator to work out your monthly payments and ensure you can comfortably meet them without stretching your finances too thin.
Conclusion
Getting approved for a mortgage can be a very stressful time but hopefully James’s top tips and the option to use him and his team as a broker has given you the confidence to knuckle down. If you require any information regarding mortgages, get in touch with Truffle today.