Call Now:  01603 961618

office@balancedfinancialservices.co.uk

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YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

 

For mortgages we can be paid by commission, or a fee or a combination of both.  Our fee is usually £249 for a standard case & £499 for a complex case.  We will confirm before application if your case is standard or complex.

 

Balanced Financial Services Ltd, registered in England and Wales number: 10277422Registered address: 14 Draper Way, Norwich, Norfolk, NR5 9NA

Balanced Financial Services Limited is authorised and regulated by the Financial Conduct Authority

 

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Your home is at risk if you do not maintain payments for any mortgage secured against it.

Balanced Financial Services is an Authorised Representative of Sesame ltd, who are authorised and regulated by the Financial Conduct Authority. FCA Number: 000000

Balanced Financial Services

14 Draper Way

Norwich

Norfolk

NR5 9NA

CONTACT    01603 961618

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At Balanced we are often told that people have been told previously that they can't have a mortgage for several different reasons, in this page we are going to try to dispel some of the common reasons people believe they can't get/have a mortgage or protection policy.  We have divided the myths into categories so you can see which may apply to you.  There are many misconceptions out there so if we haven’t listed your reason, call us - You might be surprised.  (All scenarios listed below are subject to other criteria which may affect eligibility)

Investment Property Mortgages Financial Protection

“I’m too old for a mortgage”   Myth – Some lenders have no maximum age for landlords with low loan to value loans, others will lend up to age 80 at application.

 

"I want a Ltd company Mortgage but cant because my company hasn't been trading long enough"  Myth - We can make a Ltd company investment mortgage application the day you have a company Bank account and your company is incorporated.

 

“I can’t have a mortgage because my income is too low”  Myth – We have access to lenders who have no minimum income requirement for some landlords

 

“I'm a first-time buyer so I can't have a Buy to Let”  Myth – Some lenders will allow first time buyers to have a buy to let mortgage.

 

“I can't have a buy to let mortgage because I have had credit problems” Myth – Some lenders will consider applicants with some adverse credit history

 

“Insurance is expensive”   Myth –  You can set a budget you are comfortable with and we will help you prioritise options based on your own needs and budget.  

 

"I can't have insurance because I have a medical condition in the past"  Myth - Insurers look at pre-existing conditions differently, some will offer cover, but at a higher cost to reflect the higher risk, others will exclude pre-existing conditions, but offer cover for other conditions.  Some may even offer cover at standard rates as treatments may have become more advanced and successful over the years.

 

“Insurance companies never pay out ”  Myth – This is a common misconception.  Insurance providers have been working hard over the years to ensure that their pay out rates have improved, and people can have faith in the cover they are purchasing.  Many claims which are declined these days are due to non-disclosure of material facts. We can talk you through how important it is to disclose all facts to ensure you have the best chance of a successful claim.

 

 

 

 

“I’m too old for a mortgage”   Myth – Some lenders have no maximum age provided affordability criteria is met and can be sustained throughout the mortgage term.  

 

"I’m have only been self-employed 1 year so I have to wait until I have 2 years accounts"  Myth - We have access to lenders who are happy with self-employed applicants with only 1 full years accounts.

 

“I can’t have a mortgage because my credit score is too low”  Myth – We have access to lenders who assess applications without using credit scoring systems

 

 

“It’s very difficult to get a mortgage if you’re a contractor or self-employed” Myth – We have different lenders who will assess contractor / self employed income differently.  Talk to us as there is usually more than one way to assess income.

 

Residential Mortgages