Mortgage Broker Birmingham
Get The Best Mortgage Deals With Deedle in Birmingham, Edgbaston, Solihull, Walsall and the West Midlands area
Whether you are looking for your first mortgage in Birmingham, or you are a next time buyer, looking to remortgage or purchase a buy to let property, Deedle can help you find the most competitive rates in the UK.
Tell us your requirements and receive a same day callback from one of our expert advisers!
Begin Your Mortgage Journey Today
Can I Get A Mortgage in Birminghan?
Yes, there are many different types of mortgages you can get in the city. Whether you want Birmingham buy to let mortgages, first time buyer mortgages or next time buyer mortgages, we can certainly help you today.
As well as this, Deedle has access to lenders who offer Affordable Housing scheme mortgages in Birmingham, equity release mortgages, bad credit mortgages, mortgages with a guarantor, self employed mortgages, joint mortgages and low income mortgages to name a few. There is also the option to remortgage a property in Birmingham or to remortgage with bad credit.
How To Apply For A Mortgage In Birmingham
Step 1
Fill in Our Enquiry Form
Fill in Our Enquiry Form
Enter key details on our online form which is easy and straightforward to complete. This will take less than 60 seconds of your time.
Step 2
Receive A Callback
Receive A Callback
You will then receive a callback on the same day from an expert mortgage advisor who will ask a few more follow up questions.
Step 3
Check If You Qualify
Check If You Qualify
Our dedicated professionals will then use this to work out how much you can borrow and find the best rates in Birmingham for you.
Step 4
Receive Your Birmingham Mortgage
Receive Your Birmingham Mortgage
Once we have found a loan to suit your borrowing needs, our advisers will submit your application to help you purchase a property in Birmingham.
What Deposit Do I Need For A Mortgage In Birmingham?
Lenders in Birmingham usually expect a deposit of at least 5-20% of the property’s purchase price. With the average price of a properties in Birmingham totalling around £278,000, a typical deposit will range between £13,900 and £55,600 on average.
Often you will find that the higher the deposit you put in, the lower the interest rates will be. So it is ideal to save closer to 20% of the property’s full value if you can. The amount you need to pay for the deposit will also depend on the property’s value, the lender’s criteria and your financial situation.
Different Types of Mortgages Available in Birmingham
Fixed Rate Mortgages
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A fixed rate mortgage allows borrowers to fix their mortgage rate for 2 to 15 years.
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Repayments stay the same during that time.
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You can usually overpay by 10% a year to reduce the total loan amount. Any more than this could lead to early repayment charges.
Discount Variable Rate Mortgages
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Discounted variable rate mortgages mean that borrowers get a discounted rate for some time, usually between 2 and 5 years.
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These mortgages tend to have the lowest interest rates and lowest monthly repayments.
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However, interest rates and monthly repayments can go up or down.
Tracker Mortgages in Birmingham
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Tracker mortgages follow the Bank of England’s base rate.
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They are often a certain percentage above it, so they do not follow the same interest rate changes as fixed mortgages.
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Monthly repayments can go up or down with a tracker mortgage.
Get The Best Mortgage Rates In Birmingham
Why Should I Get A Mortgage Through Deedle?
We understand how nerve wracking it can be when you purchase a property and so we are here to help make the process as stress free as possible for you! Deedle takes pride in delivering a streamlined process whereby we connect you to the best Birmingham mortgage advisers who have access to offers from hundreds of lenders across the market. Better yet, our service is free of charge.
Where Can I Get A Mortgage In Birmingham?
You can get a mortgage to purchase a property anywhere in Birmingham. Some sought-after locations include:
- Bearwood
- Birmingham City Centre
- Bromsgrove
- Coventry
- Edgbaston
- Erdington
- Halesowen
- Kings Heath
- Lichfield
- Moseley
- Redditch
- Selly Oak
- Shirley
- Solihull
- Stourbridge
- Sutton Coldfield
- Walsall
- West Bromwich
Speak To Mortgage Brokers In Birmingham Today
How Can I Qualify For A Mortgage in Birmingham?
To qualify for a mortgage in Birmingham, lenders may consider:
- Your age
- Your income
- Your employment status
- Your employment record
- Your credit rating
- Your debt-to-income ratio
- The deposit amount
- The desired property’s value
- Your monthly outgoings
What Documentation Is Needed To Apply For A Mortgage In Birmingham?
The following documents are usually requested when applying for a mortgage in Birmingham:
- Proof of ID e.g your passport or driving license
- Proof of postal address
- Proof of income (usually the most recent three months of payslips)
- Proof of deposit
- Current or most recent P60
- Your SA302 tax return forms if you are self-employed
- Proof of any bonuses or commission if applicable
Frequently Asked Questions About Mortgages in Birmingham
What Costs Are Associated With Applying For A Mortgage?
If you are looking to get a mortgage in Birmingham, there are certain costs that will be involved. This includes arrangement fees, valuation fees and legal fees.
You will also have to factor in the stamp duty land tax if applicable, the monthly mortgage payments, as well as any other potential expenses such as home insurance, property renovation fees, new furniture or moving costs.
Does It Take Long To Complete The Mortgage Process in Birmingham?
The entire mortgage process in Birmingham can take anywhere from a few weeks to a few months, from initial application to the final approval and disbursement of funds. Timings generally tend to be around 4 to 8 weeks but this can vary depending on factors such as the lender’s processing time, whether you are in a chain and the complexity of the transaction.
Are There Bad Credit Mortgage Brokers in Birmingham?
Yes, there are lots of bad credit mortgage brokers in Birmingham. Deedle will connect you to experienced advisers who will help you get a mortgage even if you have low credit.
The lender may just offer you slightly higher interest rates due to the larger level of risk involved. But do not worry as even with a poor credit history, there are ways to buy a flat, house, bungalow, maisonette or any other property type in Birmingham.
What Are The Advantages Of Purchasing A Property In Birmingham?
Buying a home in Birmingham has many advantages. The vibrant heart of the West Midlands is a diverse and dynamic city known for its blend of historic charm and modern urban living. As the second-largest city in the UK, Birmingham is a vibrant hub of diversity and offers lots of affordable options, with properties to suit the needs of all types of residents.
Are There Any Mortgage Programmes Or Initiatives in Birmingham?
Yes, there are various mortgage initatives available in Birmingham. For example, Birmingham City Council’s Home Ownership Initiative offers assistance to first time buyers and those who are looking to relocate within the city.
What Should I Consider Before Applying For A Mortgage in Birmingham?
Before applying for a mortgage in Birmingham, it is worth researching all the different mortgage types available to help gain a clear understanding of what will be best for you. Our dedicated team of Birmingham mortgage advisers will also be on hand to help explain this to you.
You should also make sure that the loan terms suit your financial situation. Check if you will be able to comfortably afford the monthly payments and carefully read all the terms of your contract to ensure that you understand key components such as whether there are early repayment charges or what happens if you miss a payment.
Where Are The Best Mortgage Rates?
To find the best mortgage rates, you can compare deals from multiple lenders. To achieve this, you could research and contact different banks and building societies who can present you with their best offers. Or even better, you could get in touch with mortgage brokers like Deedle who can source the most competitive rates for you.
If you would like a stress free experience, we can certainly help you with this! Simply fill in our enquiry form and a dedicated mortgage adviser will call you back on the same day to help you find the best deals available.