Several lenders are also offering free valuations or have removed booking fees, which will make the choice of who to use even more of a challenge.

All of the Jersey mortgage providers uses different lending criteria, with some able to offer multiples of income at 4.75 times whilst others will at times offer up to 7 times joint income. Some will consider overtime and bonuses, but not all, whilst there is a widely varying view that is taken on short term debt, nursery fees, spousal maintenance and even zero hours contracts.

The team at The Mortgage Shop has an in-depth knowledge of what can work with which lender – why not give us a call? We aim for a 100% success rate.

THE JERSEY MARKET

The high level of activity in January seems to have cooled down now and with half term nearly upon us, it may slow further. Asking prices are now being achieved by many sellers, although purchasers recognise an over-priced property and will avoid it – if it’s been on the market for months, and reduced offers are being rejected, then look elsewhere.

First Time Buyers and Home-movers complain that there is limited choice in The Island, and for this reason, estate agents will welcome buyers who have already made sure that they have a mortgage agreed in principle and, if they have a property to sell, have already placed it on the market.

If you are thinking of buying this year, why not take advantage of the Mortgage Shop’s 5-minute review, between 12 and 2 each day to find out how much you can borrow and to avoid the disappointment of discovering at a later date that the property you have fallen in love with is outside of your affordability?