Case Study: Farnham Remortgage After a Business Loss

Summary We recently helped our customers arrange a remortgage in Farnham to raise £175,000 from their residential property for a business purpose. Both customers were self-employed, and the money was being raised to buy out a business partner. The main challenge was that their business had made a loss in the previous year, so we… Read more
Case Study: Further Advance for Home Improvements in Ascot

Summary We recently helped homeowners in Ascot raise an additional £30,000 from their property to fund home improvements. They already had an existing mortgage with HSBC and wanted to keep their current mortgage in place rather than remortgage and potentially incur early repayment charges. Their priority was to secure the additional borrowing on a five-year… Read more
Mortgage for Commission Only Jobs

Mortgage for Commission Only Jobs: A Complete Guide to Borrowing on Commission If you earn your income through commission only, you may have wondered whether getting a mortgage will be harder than it is for someone on a basic salary. You might even have been told that lenders do not like commission only jobs, or… Read more
Case Study: Remortgage to Buy a Property Abroad

Summary We recently helped a professional couple in Virginia Water remortgage their UK home to raise funds for the purchase of a holiday property in the Algarve, Portugal. Rather than arranging finance overseas, they wanted to release equity from their £800,000 home so they could have the funds available to buy the property abroad before… Read more
How Do Credit Cards Affect a Mortgage Application?

Can Credit Card Debt Stop You Getting a Mortgage? Credit cards can affect a mortgage application, but having a credit card does not automatically stop you from getting a mortgage. Lenders are usually more interested in how you use the card, how much you owe, whether payments have been made on time, and whether the… Read more
Case Study: Further Advance for Home Improvements in Fleet

Summary We recently helped a couple with two children in Fleet, Hampshire, raise an additional £32,095 against their home to fund home improvements, with the option of using some of the funds to clear an existing loan. They already had a mortgage with Nationwide and wanted to keep the process as straightforward as possible while… Read more
How Do Childcare Costs and School Fees Affect Your Mortgage?

Mortgage Affordability and Childcare Costs Explained Childcare costs can affect how much you are able to borrow on a mortgage because lenders look at your income and regular household outgoings before deciding what is affordable. For many parents, nursery fees, childminder costs, wraparound care, after-school clubs or private school fees are among the largest monthly… Read more
Can I Get a Mortgage If I Am on Maternity or Paternity Leave?

Can You Get a Mortgage on Maternity or Paternity Leave? Yes, you can get a mortgage while you are on maternity leave, paternity leave or shared parental leave. Being on parental leave does not automatically prevent you from getting a mortgage. The main issue for the lender is whether the mortgage will remain affordable based… Read more
Is Remortgaging a Good Idea?

Is Remortgaging Right for You? Weighing the Benefits and Drawbacks Remortgaging is a term that often comes up in conversations about managing finances and homeownership. But what exactly does it mean, and is it something you should consider? Whether your current mortgage deal is coming to an end, or you’re exploring ways to better manage… Read more
What to Bring to Your Mortgage Appointment

Essential Checklist: Documents You Need for a Hassle-Free Mortgage Appointment Preparing for your mortgage appointment is crucial for a smoother and more efficient application process. Bringing or sending over the correct documents can significantly speed up the approval of your mortgage or remortgage. At Kerr & Watson, we aim to make this process as seamless… Read more
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
Remortgage in the UK to Buy a Property Abroad

Can you remortgage in the UK to buy a property abroad? Yes — many homeowners remortgage their UK property to release equity for an overseas purchase. This can be used to buy a holiday home, investment property, or retirement property abroad, although lenders will assess affordability carefully and not all lenders allow capital raising for… Read more

Category: Remortgages