Frequently Asked Questions.

A mortgage in is a loan you take from a bank or lender to buy a property. You repay the loan over time with interest. Mortgages are used for first-time buyers, home movers, buy-to-let investments, and remortgages.

The amount you can borrow depends on your income, credit history, profile, property being purchased, lender criteria and affordability checks. Most lenders offer 3–5 times your annual disposable income, but specialist lenders may offer more for certain circumstances.

Fixed-Rate Mortgages – Interest rate stays the same for a set period, ideal for predictable payments.

Variable or Tracker Mortgages – Rates move with the Bank of England base rate.

Interest-Only Mortgages – Pay only the interest as part of the monthly repayment, then the capital is paid later through a repayment vehicle like Life Cover or Property Sale.
 

Most UK lenders require a deposit of 5–25% of the property value. A higher deposit can give you access to better mortgage rates and terms. The deposit required for First Time Buyers is lower as compared to Buy to Let clients.

A mortgage broker compares deals from multiple lenders, helping you find the best mortgage rates for first-time buyers, remortgages, or buy-to-let properties. Using a broker can save time and money.

Mortgage approval involves submitting financial information, undergoing a credit check, and having the property assessed. Lenders usually issue a Decision in Principle (DIP) to show how much you could borrow.

Yes. Some lenders offer bad credit mortgages UK, though interest rates may be higher. A specialist mortgage advisor can help you find suitable options.

1. Monthly mortgage repayments (capital + interest)

2. Property insurance (buildings and contents)

3. Maintenance costs or service charges (leasehold properties)

4. Stamp duty UK when buying a property

Many mortgages allow early repayment, but some include early repayment charges (ERCs). Overpaying can reduce interest costs but check your mortgage terms first.
 

From application to completion, the process usually takes 8–12 weeks, depending on income affordability, property valuation, lender checks, and conveyancing.