If you are looking for a free no obligation quote for your Sheengold Mortgage whatever the size and whatever your circumstances SheenGold Mortgage can help. We have partnered with a number of leading national mortgage brokers, all fully FSA Authorised who with their expertise will help find you the best mortgage for your situation at the most competitive rates.

To get a loan illustration and then apply you will need to complete our online application form, this usually takes about 10 minutes. You can also download the application form and fax or email it to us.

Your First Mortgage

You just got married and you finally have paid the car off, but realize really quickly that the bachelor pad you were accustomed too isn’t going to suffice for your family to be. Buying your first house is exciting and rewarding and buying the right house also means finding a good mortgage that takes care of you and your family’s financial needs. Finding the right information will help you filter out the brutal estate agents.

Basically what you will be able to afford will be completely up to the lender but normally you can usually borrow a maximum of three and a half times the amount of your income before tax plus one year of income from a person who also lives in the home. So if you make £50,000 per year before tax and have a wife who makes £50,000 you can borrow up to £225,000.

Other lenders base their calculations on affordability factors such as debts like student loans or other existing loans, day care costs. People without children will generally be offered larger loans then those with children. Some lenders also consider future earnings such as a doctor in training who will become fully qualified in the next couple years. So it is important you let lenders know your exact situation so they can make an accurate proposal for you and give you the best possible deal.

Also keep in mind your own tolerance level as it is important not to overdo your limit. This is a 25 year commitment and there is no room for backing out or defaulting so make sure the deal you get is affordable for now and the future. Also remember to factor in current interest rates and how much they could go up in future years. Just one percentage point increase from 5% to 6% can mean thousands of dollars in interest.

Shenngold offers live customer support. You can contact us on 01634-404183 and we aim to get back to you within a maximum timeline of 24 hours.