Frequently Asked Questions
Here are some common mortgage questions that you may have before deciding to get in touch
Who I help
Q. Do you help First Time Buyers outside of Manchester?
A. Yes, everything can be done remotely.
Most of my clients are in Manchester, Bolton, Stockport and the surrounding areas, but I can help you wherever you are in the UK.
Q. Do you help people moving home and remortgaging?
Q. Do you help self-employed people?
A. Absolutely. If you’re self-employed different lenders will treat you differently. I save you time by going to the right lender for you.
Q. Is there anyone that you don’t get mortgages for?
A. I don’t get mortgages for people who use drive-thrus and then leave a bag of rubbish in the car park. If they aren’t ready to use a bin, they aren’t ready for a mortgage.
Q. Why did you chose to specialise in helping First Time Buyers?
A. I talk about this here.
Getting a mortgage
Q. When is the best time to start talking to a mortgage advisor?
A. As soon as you’re thinking about buying a home. Finding a property then seeking advice is more likely to leave you disappointed. The sooner my clients contact me, the more value and advice I can give them. Sometimes it’s over a year between our first call and them being ready to buy.
“Yeah but you would say that, you’re a mortgage advisor.”
Actually it would be great for me if all my clients turned up with a deposit and a home they’d like to buy as I would get paid much sooner. But this isn’t realistic, and it’s not how First Time Buyers get the best results. Best results come from planning ahead and being prepared, and early mortgage advice is a key part of that.
Q. Does a bigger deposit mean I can borrow more?
A. Potentially, but it would have to be a lot bigger, such as a 15% deposit instead of a 10% deposit. That’s an extra deposit of £10k on a £200k home. How much you can borrow is determined by how much money you earn and how much credit commitment you have.
Q. Is it important to have good credit before applying for a mortgage?
Yes it helps. I will go through your credit report before submitting your mortgage application so that we know exactly what the lender will see when they check you out.
Q. What documents do I need to get a mortgage?
A. You will need to provide me with pay slips (or tax calculations and overviews if you are self employed), bank statements, proof of deposit, ID, and your credit report. Depending on your situation you may also need to provide other things like benefits statements, company accounts, accountant’s certificates.
Q. Is now a good time to buy a home?
A. First you should ask if now is a good time to buy a home for you. If your lifestyle is stable, you can afford a home that meets your needs, you are ready to commit to one location, and perhaps to one person for a long time, it sounds like a good time. If what you are really asking is are house prices likely to drop after you buy a home, nobody knows. But you intend to live there for years not months, and if you are able to fall in love with a home, I bet somebody will too when you decide to sell.
About My Services
Q. How much do you charge First Time Buyers?
A. Usually I don’t charge first time buyers a fee. This will depend on your circumstances though.
Example of when I’d charge are for bad credit mortgages, complex incomes, or non standard homes. A typical fee would be £390 but could be up to £795. I’ll always let you know of any fees before we move on, and never charge you unless your mortgage completes.
Why Jamie Thompson Mortgages
- Making professional advice accessible
- Flexibility to suit your schedule
- Simplifying big decisions
- Reliable, friendly, professional