Happy Customers

"After inheriting a property from my late Mother, I approached National Homebuyers. I had been caring for my Mother for a number of years and the thought of selling the property using an Estate Agent was a hassle that I did not feel able to cope with. The sale of the property was a difficult […]"

Mrs J, Lydney, Gloucestershire

"We wanted to up-size to make room for our growing family, but needed to sell our flat first and National Homebuyers enabled us to do this quickly. They simplified the whole process of selling and enabled us to purchase our dream property! Deposits And Other Mortgage Application Issues"

Mr & Mrs H, Space

Deposits And Other Mortgage Application Issues

The cash you get for your current home can have a big impact on the type of mortgage you can get for where you want to live next, especially if you don’t have access to other funds for a deposit.

Whether you intend to rent or buy your next home, you’ll always need a deposit of some kind – as well as some funds to help you move and settle in. It’s therefore usually necessary to sell your current home before you can move.

When applying for a mortgage as a UK home buyer, a sizeable deposit demonstrates to lenders that you are taking a responsible attitude towards your purchase; and it can also affect the quality of interest rate that you’re able to get… and even whether or not you can secure a mortgage at all.

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Other important factors include your credit history and your current income. If the former has any mistakes you should get them corrected as soon as you can; and also consider closing any credit facilities that you don’t really need, as banks are wary of people with access to large amounts of credit. It’s also important that your credit isn’t too high – though some banks will accept your guarantee that you’ll use house sale funds to pay some of it off, when you move.

Your income is important because it shows you can afford your monthly mortgage repayments – but you have to be able to prove it, via payslips (if you’re employed) or tax records (if you’re self-employed).

Once these necessities are in place, it’s time to sell your home – and if you’d like a quick house move with minimal complications, it’s always worth getting an offer from a professional property-buying agency to see how much you could get. If you’re happy with the figure, you could save yourself the hassle of the open market and pay a deposit on a new home much sooner.

If you’d like to generate some cash by selling your home, ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

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Homebuyer Man is the public face of National Homebuyers’ expert property team, keeping up to date with all the latest industry news, property trends and market information.

Homebuyer Man’s experience in the property market is unmatched, providing expert information and exclusive insight on all things property, whether that be mortgage advice or drilling down into the best times to buy and sell in different areas across the UK. With more than 15 years’ experience, there isn’t much Homebuyer Man doesn’t know when it comes to the property market.

I’m a regular face on some of the country’s most popular TV channels including ITV, E4 and Nickelodeon.

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