Fake or Fact?

Some common misconceptions about mortgages

You need 3 years tax returns if self employed?

I’m afraid that’s not right; whilst it may have been true previously, here at CMQ, we can apply for a mortgage if you only have 2 or even 1 year of accounts.

You need a 15% deposit?

Wrong again, we have mortgages available with a 10% deposit and even 0% deposit if you are buying a shared ownership!

You cannot buy a BTL if you don’t own a home?

This is true for most lenders but we have access to some mortgages that do not require you to own a residential property in the back ground!

You need a perfect credit score!

This is true to an extent, to get a high street lender you would need a good credit score but we have a select few lenders who consider those with not perfect scores, even some who don’t even credit score at all!

You need to be in your job for a year

Another wrong, you are able to apply for a mortgage with as little as a new work contract (although some lenders may want at least 1 months payslip)

If you are not sure you can get a mortgage, get in touch, we are totally free to chat to and keep the jargon out of it for you

*All the above is dependent on the applicant and the individual circumstances and correct at the time of writing

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