Vanessa’s advice on banks policy for lending and importance of communicating with them.
Some buyers may not realise that lenders have different regulations and will not mortgage certain properties that don’t fit within their parameters. They have restrictions on size of property, postcodes and even how many properties they will mortgage in the same building. In this video Vanessa outlines some of these restrictions. She also explains the importance of communicating with your lender as you consider different properties in order to avoid disappointment when you go to purchase. You need to be clear from the beginning the type of property you are intending to purchase; the size, the postcode etc. In this incredibly informative video Vanessa also touches on the hidden fees that may be within your mortgage. She gives buyers lots of useful advice and great suggestions of questions for potential lenders or brokers. This is a really practical video with lots of advice for buyers who haven’t had much experience with lenders before. Vanessa gives great insight into the behind the scenes of the way lenders think and the various restrictions they have in place which a buyer may not be aware of.