Buying
We offer a wide range of financial services, including services related to purchasing a property.
Read more below!
Agreements in Principle
An Agreement in Principle is a preliminary decision from a lender stating the amount they would be willing to lend you based on an initial assessment of your financial situation.
It helps you understand your potential borrowing capacity and can be used to demonstrate your eligibility when searching for a property or negotiating property purchases. However, it is not a guarantee of mortgage approval and further assessment is required before finalising the mortgage.
The team at Wise have access to thousands of mortgage products and can find you suitable lenders, complete the necessary applications, and obtain Agreements in Principle on your behalf.
First time buyers
A first time buyer refers to an individual who is purchasing a residential property for the first time and has never owned a property before, either in the UK or anywhere else in the world. First-time buyers are often eligible for certain benefits and incentives, such as government schemes and reduced rates of stamp duty (a tax on property purchases) in order to facilitate their entry into the property market.
Individuals buying their first home often have specific needs when it comes to finding a mortgage. A range of mortgage products exist specifically for this market sector, which our expert team can navigate to find the right solution for your individual needs.
To learn more about mortgages for first time buyers, visit our dedicated page.
Your home may be repossessed if you do not keep up repayments on your mortgage.
For expert mortgage advice you can trust, contact Wise today.
Next time buyers
A next time buyer is someone who is looking to purchase another residential property after already owning a home. Next time buyers are typically individuals who have already gone through the process of buying a property and may be looking to upgrade to a larger home, downsize, or move to a different location.
When it comes to obtaining a mortgage as a next time buyer, the process is similar to that of a first-time buyer. However, there may be some differences in terms of eligibility criteria and mortgage options available. Next time buyers may have additional equity from the sale of their current property, which can be used as a deposit for their next purchase. They may also have an existing mortgage that needs to be settled or transferred to the new property.
Our team will assess the financial situation of next time buyers based on factors such as your income, credit history, and the equity you have in your current property. We will consider the affordability of the new mortgage based on these factors.
Home movers & porting applications
Porting is the term used when a borrower wishes to transfer their current mortgage product, including its terms and conditions, from their existing property to their new property.
To initiate a porting application, Wise will contact the mortgage lender and inform them about your intention to sell your current property and purchase a new one. The lender will then assess the feasibility of porting the mortgage, taking into consideration factors such as the outstanding mortgage amount, the value of the new property, and your financial circumstances.
It's important to note that porting a mortgage is not guaranteed and is subject to the lender's approval. The lender will evaluate the new property to ensure it meets their lending criteria and may also conduct a reassessment of your financial situation.
If the porting application is successful, you can transfer your existing mortgage to the new property without incurring penalties. However, it's worth noting that there may still be administrative fees involved in the porting process.
