So you're thinking about getting a mortgage?

No matter how much you think you can afford to spend, mortgage lenders will lend you only what they are confident you will be able to pay back. Remember...

• Taking on more than you can manage now may lead to trouble and worries later - especially if interest rates rise. Your home may be at risk if you cannot meet your mortgage payments.
• Monthly bills are likely to increase if you move to a larger property.

As well as the property price, you will need to budget for additional costs such as stamp duty, surveys, solicitors' fees, removals. If your not sure how much all these cost, then we will be happy to help you.

When you Buy ...

• You will normally need a deposit of at least 5% of the purchase price although this is not always necessary. The amount may vary according to your circumstances. If your deposit is less than 25% of the value of the property you may have to pay an additional High Percentage Loan Fee to the lender. This insures them against any potential losses if you don't pay the mortgage and they have to sell your house.
• Some lenders charge an Arrangement Fee. The amount of the arrangement fee varies from lender to lender and can usually either be paid up front or added to your mortgage.
• Very occasionally mortgages incur a Booking Fee. This charge may be applicable for a special rate, such as a fixed rate. The amount of the booking fee will depend upon the type of mortgage and the lender.
• Legal Fees vary according to where you live, the solicitor or licensed conveyancer that you use, and on the amount of work involved. The fee will include the solicitors fee and things like stamp duty and local and land registry searches.
  
  You will need a property survey carried out, the cost of which depends on the property price, and on the type of survey you choose. There are various types ranging from the lenders standard valuation to a full structural survey.

Property is one of the most expensive items you are ever likely to buy and the decision you make will have a major impact on your life. With so much at stake, it is little wonder that the process may seem overwhelming.

At Independent Mortgage Doctor, we aim to take away some of the stresses involved with buying your home. You can safely leave all the paperwork and chasing of your mortgage to us and spend more time on the important things like 'what colour your kitchen will be painted!'

Please note, these details apply only to buying a home in England, Wales and Northern Ireland.

Getting Advice - INDEPENDENT?

As an Independent Financial Adviser (IFA) and mortgage intermediary we will be able to advise you about a mortgage loan together with the associated investment and insurance arrangements you may need to take out, chosen from all products in today's market place.

We can help you choose from over 3000 different mortgage products and by following our simple advice process, you can see which mortgage deal is best for you and why!

WARNING!!

Some mortgage advisers only advise you on a limited number of mortgage lenders and may be tied to a life company. They can, therefore, only arrange associated investment and insurance with one company which greatly limits your choice.

Many Estate Agents and Banks & Building Societies work like this.

IF THEY'RE NOT INDEPENDENT - ARE YOU SURE YOU'RE GETTING THE BEST DEAL FOR YOU?