FAQs | Excel Mortgage Services Ltd
 


FREQUENTLY ASKED QUESTIONS


What is aN Agreement in principle/Decision in principal?
This is a pre application agreement from a lender that they would be prepared to lend to you and how much. Having assessed and credit checked your details, we can provide a lender certificate for you so that you can prove to estate agents that you have finances in place for your purchase.
How long will it take?
The average for purchasing is 8-10 weeks.
How much can I borrow?
There is no formula but this will depend on your overall situation taking account of income expenditure and liabilities and we would assess individually every case.
How much deposit do I need?
Currently at least 5% of the purchase price for a residential mortgage. For Buy To Let at least 20%.
Do I need life cover?
Whilst not obligatory there are few cases where it would not be appropriate.
Home insurance, can't I just use a comparison site?
Comparison sites make assumptions on your behalf in order provide a low premium often resulting in you not ending up with the policy you actually want. Also people don’t appreciate that those sites continue to credit check you each year whether you request it or not. We can compare most of the providers and their products to tailor a policy to suit you.
Where can I park when visiting the office?
At Long Stratton, we have parking outside the front of the office. At Lowestoft, there is street parking close by.

Can we help you?

Contact our friendly team at either our Long Stratton or Lowestoft offices now