There are products out there to suit every type of homeowner.
Finding the right product can be confusing, especially if your circumstances are not what high street lenders would call ‘normal’.
However, there’s no need to worry. No what matter your circumstances, as a mortgage broker in the UK we specialise and are able to help get you the one you are looking for.
Bad Credit Mortgages
Mortgages for Self-Employed Individuals
Interest-Only Mortgages
Buy-to-Let Mortgages
Right to Buy Mortgages
Mortgages for Foreign Nationals
Secured Loans
Mortgages for First-time Buyers
Remortgaging
Shared Ownership Mortgages
Equity Release
Self-Build Mortgages
Not sure where to start? Ask an Expert today.
Commonly asked questions...
A mortgage is a type of loan that is specifically used to purchase a property. This could be a residential home or an investment property. In the UK, the length of your term can run anywhere from between 6 months and up to 40 years.
Your property will be used as security or ‘collateral’ against the loan, so if you’re unable to make payments over time your lender can repossess the property to pay off your debt.
When getting a mortgage you first need to have two things set out clearly: the amount you want to borrow and how much deposit you have. By using these and a range of other personal factors, like credit score and income, a lender will be able to determine your payments based over a set period of time, for example 25 years.
You can determine how long you want your mortgage to last – the longer the term, the less the monthly payments are likely to be as they will be stretched out more. However, you will end up paying more in interest over a longer loan term.
These payments, plus interest, will need to be made monthly and will contribute to the borrowed amount, and over time the outstanding loan value will go down until you have paid off everything.
It can be hard to give an accurate time frame on how long the whole process will take, as everyone’s situation is different. There is also the possibility that you could experience hiccups along the way.
For example, your solicitor may experience delays, in turn prolonging the length of time the legal work takes, which can slow down the overall mortgage application.
As a rough guide, based on our experience, a mortgage application can take anywhere from 2 to 6 weeks to conclude to a full mortgage offer. However, you should always keep in mind that unexpected things can happen, slowing your application down.
One way to ensure the process runs as smoothly as possible is by using a mortgage broker. They will be able to do all the hard work and identify anything that could slow your application down even before you apply.
