Mortgage Process Explained: What Lenders and Underwriters Check

Key Insights and Tips to Boost Your Mortgage Approval Chances Mortgage underwriters are the gatekeepers of mortgage approval, meticulously assessing every aspect of a your financial profile. We explain the intricacies of mortgage underwriting, shedding light on what lenders scrutinise and offering actionable advice to bolster your chances of securing that coveted mortgage offer. Understanding… Read more
Longest Term Mortgage in the UK

Longest Term Mortgage in the UK: Benefits and Drawbacks When considering a mortgage, one of the decisions you’ll face is the length of the mortgage term. The mortgage term refers to the duration over which you’ll repay your loan, influencing your monthly payments, total interest paid, and financial planning. As lenders continue to evolve their… Read more
No-Deposit Mortgage

Getting on the Property Ladder Without a Deposit Struggling to save a deposit for your first home? A no-deposit mortgage might be your solution. At Kerr & Watson, we understand the challenges of saving for a deposit while paying rent and managing other expenses. This guide will explain how no-deposit mortgages work, their advantages and… Read more
Can Stamp Duty Be Added to a Mortgage?

Can Stamp Duty Be Added To A Mortgage? Stamp Duty Land Tax, often shortened to stamp duty or SDLT, is one of the main costs buyers need to budget for when purchasing a property in England or Northern Ireland. In most cases, stamp duty is not simply “added to the mortgage” as a separate fee… Read more
Move your existing mortgage to a new property

Moving Home? Here’s How to Take Your Mortgage With You If you’re planning to move home and already have a mortgage in place, you might be wondering whether you can take your current deal with you. Porting a mortgage allows you to transfer your existing mortgage product to a new property. This means you can… Read more
When Will Your Mortgage Be Pre-Approved?

Can you get a mortgage pre-approval before finding a property? Yes — many buyers secure a mortgage Agreement in Principle (AIP) before they start viewing properties. This helps you understand how much you may be able to borrow and can strengthen your position with estate agents and sellers when making an offer. Not sure how… Read more
Case Study: House Move and Remortgage in Farnborough

Summary We recently helped a couple in Farnborough move to a detached property valued at £655,000 while keeping the benefits of their existing mortgage with NatWest. The customers, a teacher and a nurse, needed to increase their total borrowing from around £337,000 to £500,000. Their main priority was to port their existing mortgage so they… Read more
How Long Does Mortgage Application Approval Take?

How Long Does A Mortgage Application Take To Be Approved? A mortgage application can sometimes be approved within a couple of weeks, but many applications take around two to four weeks from full submission to formal mortgage offer. More complex cases can take longer, especially where the lender needs additional documents, the property valuation raises… Read more
What Do Mortgage Lenders Look for on Bank Statements?

What Mortgage Lenders Check on Your Bank Statements When you apply for a mortgage, lenders will usually ask to see your recent bank statements. This is not because they are trying to judge every day-to-day purchase you make, but because your statements help them understand how you manage money in real life. Bank statements can… Read more
Joint Mortgage Separation

Joint Mortgage Separation: Removing A Name Or Buying Out Your Ex Separating from a partner is difficult enough without the added pressure of deciding what happens to the family home and joint mortgage. Even if one person moves out, the mortgage does not automatically change, and both borrowers usually remain responsible until the lender and… Read more
Do I Need a Decision in Principle to Make an Offer

Making an Offer on a House: Do You Need a Decision in Principle First? The process of buying a home can feel complex, especially when it comes to understanding financial preparations like a Decision in Principle (DIP), sometimes known as an Agreement in Principle (AIP) or Mortgage in Principle. A common question we get is,… Read more
Single Parent Mortgages

Single Parents: Expert Tips and Options for Securing Your Home Securing a mortgage as a single parent can feel daunting, but it’s entirely possible with the right guidance and preparation. While single parents may face unique challenges during the mortgage application process, such as meeting affordability checks, lenders have different methods of calculating income so… Read more

Category: Home Mover Mortgages