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Frequently Asked Questions

If you have any queries not answered below simply email us and we will endeavour to reply the same day with a response. Contact or contact us on (028) 3752 2874.

What documents will I need for a mortgage?

Every lender and every case varies on the documentation that may be required. However, for regulation proposes, we will always require at least one piece of identification and proof of address e.g. passport and utility bill. Depending on the type of mortgage you require, a lender may also request payslips, P60's, bank statements or accounts. The list is not exhaustive but the more documentation you can provide the process becomes easier and quicker.

I am a first time buyer, will it be harder to get my mortgage because of this?

Not at all! In fact with many lenders out there now trying to encourage first time buyers back into the market, you will find it easier than you think. The main thing to remember is the more of a deposit you can afford, the better the interest rate and overall deal will be! Some lenders will even offer Guarantor Mortgages that will allow a family member be part of your mortgage to help with affordability but they will not actually be named on your Mortgage Deeds! We can guide you through every step of the daunting process of purchasing your first home.

How long will it take for my mortgage to be offered?

At OPS we are proud of our speed and quality of service so we can normally have an Agreement In Principle from a lender in 2 days and aim to have a mortgage offered within 10 working days once an application is submitted in full. Unforeseen delays can arise such as the lender having a backlog, a property valuation survey being delayed or simply the lender requesting additional information (again, the more documentation supplied the less likelyhood of this happening).

I have been declined a mortgage before or have a poor credit rating, can you still help?

Whatever the reason for previously being declined, we have access to a range of lenders who specialise in 'sub prime' mortgages who can underwrite your case individually and access your circumstances accordingly. You are not alone if you have been declined finance or have credit problems so why not let OPS try get you back on track.

I have recently went self employed, can I still get a mortgage?

Many lenders will require a minimum trading time before lending (i.e. 6 months trading), but again depending on your circumstances we could source a lender who would be willing to review your case based on its individual merits.

What fees and expenses will I have to budget for to get a mortgage?

This really varies according to your needs. Typically for a standard purchase you will have a property valuation fee to pay (the cost of which depends on the lender and the estimated value of the property), stamp duty may be applicable depending on the value of the property, solicitor fees vary so its a good idea to price a few and of course OPS charge a broker arrangement fee of £500 for advising and arranging your mortgage.

Some lenders do provide incentives such as free valuations and free legal services or even cashback come mortgage completion but these are only applicable to certain applicants. Knowing the costs of purchasing and running a home, we do try to keep your outlay to a minimum so ask for your personalised quotation to see what we can do for you.

The overall cost for comparison is 4.7% APR for self certification and 9% APR for Adverse. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.


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