Mortgages

We look at your circumstances and have a bespoke service that ensures the advice we give is relevant and tailored to your individual needs.

A Wide Range of Lenders

We have a wide range of lenders to choose from and we can help you all, it really is a minefield, and we take that stress away from you, not only do we find you a suitable product we will liaise with Estate Agents & Solicitors for you to make the whole process as seamless as we can.

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Why choose Xl finance?

We're Here to Help You

Buying a home is possibly one of the most stressful and frustrating things you can do, it is such a BIG thing; you are so reliant on others, your buyers, the sellers, the solicitors, the estate agents – however you can rest assured that WE will always be there to help you.

We can help all kinds of clients, please get in touch with your enquiry

> Don't Forget...

We have access to exclusive deals not found on the high street, and we have the knowledge to know the criteria of Lenders, saving you hours of time and potential heartbreak.

Mortgage FAQ's

We will provide you with an Agreement in Principle from a Lender, once we have assessed your circumstances, you can then use this to show Estate Agents you have already taken the first steps, especially as a First Time Buyer – shows you are serious about making an Offer.

This depends on a number of factors; Income, Outgoings (credit card balances, car finance, loans, childcare etc), number of Dependents – this is why we are here, to help guide you.

Make sure you are on the Electoral Roll

Cancel any unused Catalogues / Credit Cards

If you do use Credit Cards try not to use a high percentage of your available credit

Don’t go over any authorised Overdrafts, don’t go into an UNauthorised Overdraft

Don’t let Direct Debits bounce

Don’t miss payments, set up a direct debit on your Credit Card to ensure you at least pay the minimum each month

Don’t be an ostrich! If you are struggling speak to your credit providers

Make sure you have the correct address on all your financial accounts

Think about your bank statements, Lenders do not like Pay Day Loans, they do not like seeing things like Betting on your Accounts, especially if you spend a lot.  Think about what you are spending on the lead up to your application – would you lend you money if you saw your Bank Statement?

There are specialist lenders our there who will take into account your circumstances and we have access to these to be able to help you.

Yes! We can source mortgages with a 5% deposit.

You can also get government help with the Help to Buy Equity Loan Scheme, allowing you to borrow up to 20% of the value of the home as a deposit as well as your 5%, the loan in interest free for 5 years.

Shared Ownership is another option with a 5% deposit, where you buy a share of the property and pay rent on the remaining share. 

These schemes is not suitable for everyone, and this is why you need a Mortgage Broker to go through it all with you

More info here https://www.gov.uk/affordable-home-ownership-schemes

What Costs are Involved with a Mortgage?

Arrangement Fees

Payable to the Lender for the product you have, some have them, some don’t; depends on the product and we will look at all of the options for you – we aren’t being deliberately vague with this, we will be open and transparent when we go through your needs

Valuation Fees

Lenders require a valuation “for mortgage purposes”, basically they want to know if the property is suitable security and they will get their money back if you were to default and they have to repossess.  Sometimes they charge and sometimes they don’t, but bear in mind this is a valuation for the Lender NOT you. 

You may wish to arrange your own Survey such as a Home Buyers Report or A Full Building Survey, the cost for these vary, and we have sample reports you can review to see if you wish to do this or not.

Stamp Duty

Payable on homes purchase over a certain price, check here for more info https://www.gov.uk/stamp-duty-land-tax we will also be able to advise you on any schemes or holidays the government are currently running

Broker Fees

We usually charge a fee for our service, details of which can be found at the bottom of this page.  We ONLY charge at the end of the process i.e. when you get your keys, so there are no hidden extras

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