Telephone
01295 698600

Email
info@cherwellfs.co.uk

Ground Floor
Unit 15 Somerville Court
Trinity Way, Banbury Business Park
Adderbury, Oxfordshire
OX17 3SN

GET DIRECTIONS

Telephone
01295 698600

Email
info@cherwellfs.co.uk

Ground Floor
Unit 15 Somerville Court
Trinity Way, Banbury Business Park
Adderbury, Oxfordshire
OX17 3SN

GET DIRECTIONS
FIRST TIME BUYER MORTGAGES

The amount a lender will lend you depends upon many factors but focus on your income & credit commitments, along with the term of the loan.

YOUR STATE PENSION
MAY NOT BE ENOUGH TO
COVER YOUR NEEDS

Historically lenders would use a simple multiple of your income however nowadays the majority use systems that work out how affordable the loan is and how much they may be prepared to lend.

These systems usually look at the following:

  • Your Income
  • Your Existing Debts
  • your Credit Score
  • your Outgoings
  • Children/financial dependants
  • The term you wish to borrow money over

Your home may be repossessed if you do not keep up repayments on your mortgage
*Commercial mortgages and some forms of Buy to Let mortgages are not regulated by the Financial Conduct Authority.

If you have accumulated large overdrafts or credit card bills, and are finding it hard to reduce the outstanding balances, then a re-mortgage could be used to reduce your monthly payments. Please be aware that if you are increasing your mortgage to repay financial commitments then you may be transferring an unsecured debt to a debt secured against your home. If the repayment term is longer, then you may ultimately pay more interest on the debt over that term.

Think carefully before securing other debts against your home. Your property may be repossessed if you do not keep up repayments on your mortgage.

If you ask us to arrange a mortgage for you we can be paid by either commission or a fee or a mixture of them both. If you choose to pay us a fee, this will usually be a fee of £500, payable at application, for mortgage advice and recommendation. Plus a fee of £500, payable at completion, for mortgage administration. We will refund to you any commission we receive from the lender.

Cherwell Financial Services Ltd is directly authorised and regulated by the Financial Conduct Authority. Registered Office Ground Floor, Unit 15 Somerville Court, Trinity Way, Banbury Business Park, Adderbury, Oxfordshire, OX17 3SN.

Registered in England. No. 08566532

©Cherwell 2018