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Tom Garvie Mortgage Services

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United Kingdom
Hinckley
Tom Garvie Mortgage Services

We offer whole of market mortgage advice with access to thousands of mortgage schemes, many of which are not available direct with high-street lenders.

Providing you with a much broader choice of mortgage products tailored to your personal circumstances.

04/09/2026

How Long Does It Really Take to Get a Mortgage Approved?

There is no single answer because every mortgage application is different, but a straightforward application can often move from submission to mortgage offer within a few weeks.

📄 Agreement in Principle

An Agreement in Principle can often be obtained quickly and gives you an indication of how much you may be able to borrow.

🏦 Full Mortgage Application

Once you have found a property and your offer has been accepted, the full application is submitted to the lender along with your supporting documents.

🔍 Lender Checks

The lender will review your income, spending, credit history, and overall affordability.

They will also arrange a valuation of the property.

⏳ How Long Does It Take?

A straightforward application may receive an offer within around 2 to 4 weeks, although some can be quicker.

More complex applications may take longer, particularly if additional documents or checks are required.

⚠️ What Can Cause Delays?

Missing paperwork, unusual income, valuation issues, or further questions from the lender can all slow things down.

Being organised and providing documents promptly can make a big difference.

A mortgage adviser can also help make sure your application is submitted correctly from the start and keep you updated throughout the process.

Contact us today & let’s see how we can help you with your mortgage!

Your home may be repossessed if you do not keep up repayments on your mortgage.

26/08/2026

Should You Buy a Fixer Upper or a Move In Ready Home?

Choosing between a property that needs work and one that is ready to move into comes down to your budget, your plans, and how much time you are willing to invest.

🔧 Fixer Upper

A property that needs refurbishment can sometimes be bought for less and may give you the opportunity to add value over time.

It can also let you create a home that is completely suited to your taste.

However, renovation costs can quickly add up, so it is important to budget carefully and understand the condition of the property before you commit.

🏡 Move In Ready

A move in ready home can make the buying process feel much simpler.

You may be able to move in straight away without worrying about major repairs, decorating, or unexpected building costs.

The downside is that these properties can attract more buyers and may come with a higher asking price.

📊 What Should You Consider?

Think about your available savings, your mortgage budget, and whether you could comfortably afford any work the property needs.

It is also worth arranging a survey so you understand the true condition of the home before making a final decision.

There is no right or wrong choice. The best option is the one that works for your finances, lifestyle, and long term plans.

Contact us today & let’s see how we can help you with your mortgage!

Your home may be repossessed if you do not keep up repayments on your mortgage.

29/07/2026

Another 5 Star Review! ⭐⭐⭐⭐⭐

There is nothing more rewarding than hearing that we've made the mortgage process simple and stress free for our clients.

A huge thank you to our returning client for leaving this fantastic review:

"Second time using Tom and again, absolutely fantastic. I can't recommend Tom and the team enough! They made the mortgage process so much less stressful, were always on hand to answer my questions, and kept me updated throughout. Friendly, professional, and incredibly helpful from start to finish. Wouldn't go anywhere else! Thank you!"

Reviews like this are exactly why we love what we do. Whether you're buying your first home, moving house, or looking to remortgage, we're here to guide you through every step of the process and make everything as straightforward as possible.

Thank you for your continued trust and support. It really does mean the world to us.

Contact us today & let’s see how we can help you with your mortgage!

24/07/2026

Can a Gifted Deposit Be Used for a Mortgage?

The simple answer is yes. A gifted deposit is accepted by many mortgage lenders and can be a great way to help you get onto the property ladder.

💷 What Is a Gifted Deposit?

A gifted deposit is money given to you, usually by a family member, to help towards your house deposit. The money is a genuine gift and does not need to be repaid.

👨‍👩‍👧 Who Can Gift a Deposit?

Most lenders are happy to accept gifted deposits from close family members, such as:
• Parents
• Grandparents
• Siblings
• Other close relatives

Some lenders may also accept gifts from other people, but their criteria can vary.

📄 What Evidence Will You Need?

Your lender and solicitor will usually ask for:
• A gifted deposit letter confirming the money is a gift
• Proof of where the funds have come from
• Identification from the person providing the gift

This helps satisfy mortgage and anti money laundering requirements.

🏡 Will It Affect Your Mortgage Application?

In most cases, no. As long as the lender is happy with the source of the funds and the deposit is a genuine gift with no expectation of repayment, it should not negatively affect your application.

🤝 Speak to a Mortgage Adviser

Every lender has different criteria when it comes to gifted deposits. A mortgage adviser can help you find a lender that accepts your circumstances and guide you through the process from start to finish.

A gifted deposit could make buying your first home much more achievable, especially if saving a deposit has been a challenge.

Contact us today & let’s see how we can help you with your mortgage!

16/07/2026

How Many Years of Accounts Do I Need for a Mortgage?

If you are self employed, lenders will usually want to see evidence that your income is stable and sustainable before approving your mortgage.

📄 Most Lenders Ask for Two to Three Years

Many mortgage lenders prefer to see two or three years of accounts. This gives them a clearer picture of how your income and business have performed over time.

📅 Can You Apply With One Year of Accounts?

Yes, it may still be possible. Some lenders will consider applicants with just one full year of accounts, although the available options may be more limited and additional evidence could be required.

💷 What Documents Might You Need?

Depending on your business structure, a lender may ask for:
• Finalised business accounts
• SA302 tax calculations
• HMRC Tax Year Overviews
• Personal and business bank statements
• Evidence of ongoing contracts or future work

📊 Your Income Will Be Assessed Differently

Sole traders are usually assessed using net profit, while limited company directors may be assessed using salary and dividends. Some lenders may also consider retained profits.

🤝 Why Speak to a Mortgage Adviser?

Each lender has different rules for self employed applicants. A mortgage adviser can identify lenders whose criteria are better suited to your trading history, income, and business structure.

Having fewer than two years of accounts does not necessarily mean you cannot get a mortgage. It simply makes choosing the right lender even more important.

Contact us today & let’s see how we can help you with your mortgage!

01/07/2026

How Do Lenders Assess Self Employed Income?

If you're self employed, getting a mortgage is absolutely possible. The process is simply a little different, as lenders need to understand how stable and sustainable your income is.

Here's what they typically look at:

📄 Your Tax Returns

Most lenders will ask for your SA302 tax calculations and Tax Year Overviews from HMRC. These help verify your declared income over the last few years.

📊 Your Business Accounts

Some lenders may request your business accounts, especially if you run a limited company. These are often prepared by a qualified accountant and provide a clear picture of your business finances.

📅 Trading History

Many lenders prefer applicants who have been trading for at least two years, although some may consider just one year's accounts depending on your circumstances and the lender's criteria.

💷 Your Income

How your income is assessed depends on your business structure:
• Sole traders are usually assessed on their net profit.
• Limited company directors may be assessed on their salary and dividends, while some lenders will also consider retained profits.

🏦 Bank Statements

Lenders often ask for recent personal and business bank statements to confirm your income and ensure your finances are well managed.

📈 Affordability

As with any mortgage application, lenders will look at your monthly commitments, existing debts, and regular outgoings to ensure the mortgage is affordable.

🤝 Why Use a Mortgage Adviser?

Not all lenders assess self employed income in the same way. A mortgage adviser can identify lenders that are more flexible and find the most suitable mortgage based on your individual circumstances.

Being self employed doesn't have to make getting a mortgage difficult. With the right preparation and expert advice, you can give yourself the best possible chance of securing a competitive mortgage.

Contact us today & let’s see how we can help you with your mortgage!

03/06/2026

Take a Look at Our Fantastic Review! ⭐⭐⭐⭐⭐

Nothing means more to us than happy clients, and we are incredibly grateful for this wonderful feedback from Jeremy:

"Tom has been dealing with my mortgage for many years. As always the whole experience has been simple and communication superb. I can’t recommend highly enough and look forward to our continuing relationship."

Thank you, Jeremy, for your kind words and continued trust. It has been a pleasure helping you over the years, and we look forward to continuing to support you with your mortgage needs in the future.

Helping our clients make the mortgage process simple, stress free, and straightforward is always our goal. Reviews like this mean the world to us. 🙌

If you are looking for expert mortgage advice from a team that puts communication and customer service first, we would love to help.

Contact us today & let’s see how we can help you with your mortgage!

27/05/2026

Key Questions to Ask Your Estate Agent

Speaking to an estate agent is a key part of the home buying process, but knowing the right questions to ask can help you make a more informed decision and avoid surprises later on. Here are some important ones to keep in mind:

🏡 How long has the property been on the market?

If a property has been listed for a while, there may be room for negotiation or a reason it has not sold yet.

💷 Has the price been reduced?

This can give you an idea of the seller’s expectations and whether they may be open to offers.

📍 Is there a property chain?

Knowing whether the seller is in a chain can help you understand how quickly the purchase may move.

🔧 Has any work been carried out on the property?

It is helpful to know about extensions, renovations, or repairs, especially if building regulations or planning permission were required.

🧾 What are the running costs?

Ask about council tax, service charges, ground rent, and utility costs so you can budget properly.

🚗 What is included in the sale?

Fixtures, fittings, appliances, and garden items are not always included, so it is worth clarifying early.

🏠 Why is the seller moving?

This can give useful insight into how motivated they are and whether there may be flexibility on price or timescales.

📅 Have there been any other offers?

Knowing the level of interest can help you decide how quickly to act if you love the property.

Asking the right questions can help you buy with confidence and avoid costly surprises later in the process.

Contact us today & let’s see how we can help you with your mortgage!

22/05/2026

How Do Tracker Rate Mortgages Work?

A tracker mortgage is a type of mortgage where the interest rate moves in line with an external rate, usually the Bank of England base rate. This means your monthly payments can go up or down over time. Here’s how it works:

📈 Your Rate Tracks the Base Rate

With a tracker mortgage, your lender charges a set percentage above the Bank of England base rate.

For example: If the base rate is 4.5% and your tracker mortgage is base rate +1%, your mortgage rate would be 5.5%.

If the base rate goes up, your mortgage payments increase. If it goes down, your payments reduce.

💷 Potential Benefits

✅ You could benefit if interest rates fall
✅ Some tracker deals have lower starting rates than fixed mortgages
✅ Greater flexibility, with some products offering lower early repayment charges

⚠️ Things to Consider

Because the rate can change, your monthly payments are less predictable. If interest rates rise, your mortgage could become more expensive, so it is important to make sure your budget has some breathing room.

📅 How Long Do Tracker Deals Last?

Some tracker mortgages are available for a fixed introductory period, such as 2 or 5 years, before moving onto the lender’s standard variable rate. Others are lifetime trackers that follow the base rate for the full mortgage term.

🏡 Who Might a Tracker Mortgage Suit?

A tracker mortgage may be suitable if you:

- Are comfortable with payments changing month to month
- Want to benefit if rates fall
- Prefer flexibility over fixed payment certainty

If you prefer stable monthly payments and easier budgeting, a fixed rate may be a better option.

Choosing the right mortgage depends on your financial situation and attitude to risk, which is why getting professional advice can be so valuable.

Contact us today & let’s see how we can help you with your mortgage!

14/05/2026

How Long Does a Mortgage Application Take?

One of the most common questions homebuyers ask is how long a mortgage application takes. While every case is different, here is a general guide to what you can expect.

📄 Agreement in Principle

Before the full application, you can usually get an Agreement in Principle within a few minutes to 24 hours, depending on the lender. This gives you an idea of how much you may be able to borrow.

📝 Submitting the Full Application

Once you have found a property and submitted all your documents, the full application can usually be completed within a few hours to a couple of days, depending on how quickly everything is provided.

🔍 Lender Assessment

The lender will then review your income, outgoings, credit history, and affordability. They will also arrange a property valuation. This stage usually takes 1 to 3 weeks.

🏠 Mortgage Offer Issued

If everything goes smoothly, a formal mortgage offer is often issued within 2 to 4 weeks from submitting your full application. Some straightforward applications can be quicker, while more complex cases may take longer.

⚠️ What Can Cause Delays?

- Missing or unclear documents
- Self employed or complex income cases
- Property valuation issues
- High lender demand
- Additional underwriting checks

💡 How to Speed Things Up

Having all your documents ready and working with an experienced mortgage advisor can help avoid unnecessary delays and keep your application moving smoothly.

While timelines vary, being prepared can make a big difference and help you get to the finish line faster.

Contact us today & let’s see how we can help you with your mortgage!

Address

The Atkins Building
Hinckley
LE101QU

Opening Hours

Monday	9am - 8pm
Tuesday	9am - 8pm
Wednesday	9am - 8pm
Thursday	9am - 8pm
Friday	9am - 8pm

Telephone

+442477717130

Website

http://tomgarviemortgages.co.uk/

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