Thinking about a mortgage in Castle Cary? Here’s what you need to know

Thinking about a mortgage in Castle Cary? Here’s what you need to know
Castle Cary is one of those places people visit once and then start searching Rightmove on the
way home. A proper Somerset market town, it has characterful old streets, a busy high street,
weekly markets and that all-important train station with direct links to London Paddington –
making it popular with both locals and commuters.
If you’re looking to buy, remortgage or invest in Castle Cary or the surrounding villages, here
are a few key things to consider.

1. A town that punches above its weight
   For a relatively small town, Castle Cary has a lot going for it:

• Independent shops, cafés and pubs rather than just big chains
• A traditional Market House and regular local events
• Good schools and community feel
• Strong rail links plus easy access to the A303
  All of this helps underpin demand for property in and around Castle Cary, which in turn makes
  it important to get the right mortgage deal for your situation – whether you’re buying your
  first home, moving up the ladder or downsizing.

1. First-time buyers in Castle Cary
   If you’re renting locally or moving in from further afield, the usual questions pop up:

• How much deposit do I actually need?
• Can I use gifted deposit from family?
• How much will a lender let me borrow on my income?
  Lenders all have different criteria on income multiples, bonuses, overtime and other sources of
  pay. A key part of my job is matching you with a lender whose criteria actually fit your
  circumstances, not trying to squeeze you into the wrong one.

1. Self-employed, CIS or company director?
   Castle Cary and the surrounding area have plenty of tradespeople, freelancers and small
   business owners. Getting a mortgage when you’re self-employed is absolutely possible – but it
   can be more complex.
   Depending on the lender, we may be able to use:

• Salary plus dividends for limited company directors
• Net profit for sole traders
• CIS statements for contractors in the construction industry
• A track record of contracts or day rates for certain professionals
  The key is presenting your income properly and choosing the right lender from the start rather
  than collecting “computer says no” responses.

1. Already own in Castle Cary? Don’t ignore your remortgage
   If you already own a home in Castle Cary, reviewing your mortgage regularly can make a big
   difference, especially with the way interest rates have moved in recent years.
   A remortgage might help you:

• Reduce your monthly payments
• Fix your rate for peace of mind
• Raise funds for home improvements, an extension or helping children onto the property ladder
• Consolidate certain debts (where appropriate and affordable) onto the mortgage
  It’s important to weigh up the pros and cons carefully – especially when consolidating
  unsecured debts into a mortgage, as this is often over a longer term – but for many clients it
  can be life-changing when done properly.

1. Why use a local mortgage broker for Castle Cary?
   Yes, you can click around comparison sites, but a local broker who understands Castle Cary and
   the wider Somerset market can:

• Look across a wide range of lenders, not just one bank
• Explain in plain English what you can realistically borrow
• Spot potential issues early (credit blips, complex income, previous missed payments)
• Liaise with estate agents and solicitors to help keep things moving
  Want to chat about a Castle Cary mortgage?
  If you’re:
• Buying in Castle Cary or the nearby villages
• Thinking about remortgaging your existing home
• Self-employed and not sure what you can borrow
• Just starting to plan a move in the next 6–12 months
  …I’d be happy to talk it through with you.
  Jamie Cullen – Cullen Financial Services
  (07964) 000361
  jamie@cullenfinancialservices.com