There are differences when considering applying for a regular mortgage and you can financing granted of the bank to have construction otherwise repair from a home.

Mortgage brokers

Whether you're purchasing an excellent pre-had assets otherwise a recently-established domestic, the house financing you may need is exactly what the banks telephone call a keen ordinary loan, and usually you will simply features on the thirty day period to confirm toward property vendor that your financing might have been accepted.

it does not matter when you find yourself an initial-go out customer otherwise a perform visitors, nevertheless sized the borrowed funds will depend on the house or property cost and also the sized the deposit you'll be able to to get off, additionally the fees months may getting two decades, though some finance companies are able to stretch that it so you're able to three decades.