mortgage advice

Frequently Asked Questions

Q. Who are we?

Nottingham based mortgage broker, providing both mortgage and remortgage advice by a professional team of fully qualified mortgage advisers specialising in buy to let mortgages and in offering reputable protection advice. For protection we usually offer products from a selected panel of providers.

Northridge Mortgage Solutions is recognised locally as leading advisers in the mortgage market and as a specialist broker in buy to let mortgages. We have an office located in West Bridgford near the centre of Nottingham and an accessible, reliable, responsive online service, offering you mortgage advice either in person, over the phone or via email.

Q. How much can I borrow?

Different lenders have different ways of calculating how much they will lend to you. Some lenders will offer up to four times your salary, some will also take overtime and bonuses into account. Others will work on affordability by assessing your income and outgoings. Most lenders will deduct any loans or other credit agreements from your income, before working out how much you could borrow. As you can see there is no single answer, but the best way to get an accurate figure is to contact us and we can give you a more definite answer.

Q. Do I need a deposit? And how much?

If you can get a deposit of between 10-15%, it would mean that more lenders would be able to offer you their products, which will give you more options for example, a better deal. It is no longer possible to get a mortgage with no deposit at all.

Q. How long will the mortgage process take?

This can vary again, but in general for a new purchase it can take between 8-10 weeks for the whole process. However we should be able to get you a mortgage offer within 2-3 weeks. For a re-mortgage the timescales are shorter, and everything should go through in approximately 4-6 weeks. Some lenders and solicitors are faster than others.

Q. Do I need to provide any documents?

Yes, you will need to provide proof of identification such as Passport or Driver's License and proof of address such as a Utility Bill or Bank Statement. Also you will need proof of income such as last 3 payslips or latest P60, or accounts if self employed. Some lenders may also require latest Mortgage Statement and Bank Statements. We will advise you of the chosen lenders exact requirements when you submit an application, so you wouldn't need to automatically send all of the above documentation in.

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