How will using StepLadder affect my ability to get a mortgage?
The ongoing commitment of paying in to your Circle could affect how much you are able to borrow for your mortgage, as a lender may factor that into its affordability calculations. David Hollingworth of the L&C Mortgages recently commented: “That could put a slight dent in the mortgage amount available, however, those with good affordability but a lack of deposit could still find themselves in a position to buy sooner than they otherwise could." We have partnered with mortgage brokers who understand StepLadder Circles and help our Members to get mortgages. The key for all lenders is affordability. We run our affordability analysis, modelled on that of mortgage lenders, ahead of matching you to a Circle to see that you could continue to make payments into your Circle alongside your mortgage payments.