Mortgage FAQs

There is no set formula to work out how much you can borrow as different lenders will look at different things, this can include; Size of Deposit, Type of Income, Type of Property, Outstanding Finance, Credit Conduct and much more. If you speak with one of our specialists, we can quickly look at your situation and be able to provide you with the answers you need to find your next home.

To get a mortgage you have 2 options

1. Speak to an Independent Mortgage Broker and they will guide you through the entire process and beyond. An independent broker will look at multiple lenders for you and will help you beyond getting your first mortgage.
2. Go directly to the Bank.

There is no set timescale for a mortgage application as it depends on the lender and complexity of the case. A rough time scale would be 4-6 weeks however it could be quicker or longer. If you speak with one of our specialists, we will be able to advise you on how long the application will take depending on your current financial status.

This is very much lender dependent but typically a mortgage offer is valid for 6 months.

Mortgage Offers can be extended, how long they can be provided for is specific to each lender. This is particularly important in the case of New Build properties. If you speak with one of our specialists, we will be able to advise you on the correct course of action if you are buying a new build property.

There is no specific credit score you do or don't need for a mortgage and it's not the number lenders look at but how you conduct your credit. We would recommend getting in touch and one of our Advisers will guide you through this.

If you have a history of adverse credit you may still be able to get a mortgage, it will depend on what it was, how much it was for and when it was. It is best to speak to an Adviser to help you with this. Click on the contact us button now and one of our advisers will get back to you quickly to discuss.

Some Advisers may offer fee free services however this is dependent on the firm’s service offering.

It is not possible to give blanket advice, what’s right for one may not be right for another. Every recommendation is tailored to each individual client and their circumstances. Hit the contact us button for more information and guidance on what is right for you.

A tracker mortgage is a type of Variable rate mortgage that will track a Base Rate, normally this will be the Bank of England Base Rate. Hit the contact us button for more information and guidance on how this type of mortgage might work for you.

An Interest Only mortgage is a mortgage in which your monthly payments only cover the interest on the loan and do not reduce the outstanding mortgage balance/debt. Hit the contact us button for more information and guidance on what is right for you.

A Mortgage Offer can be withdrawn if there is a change in your circumstances before you complete on the property.