Mortgages

Take the first step towards owning your future

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A mortgage is a big commitment, be confident with the right one.

Whether you’re a first-time buyer or a seasoned property investor, mortgages are a large financial investment so it’s crucial you find the right one. You need to be sure you can keep up with the repayments, not just today, but in the future too.

Remortgaging can often be a suitable option if you’re coming to the end of your current mortgage or are wanting to switch lenders.

Popular mortgage options

First time buyer

Exactly as it sounds, these are mortgages for first-time buyers. One of a handful of incentives for helping more people get onto the property ladder.

Buy-to-let

One of the most common mortgage types, a fixed-rate mortgage means your monthly payments remain the same, no matter what happens to interest rates.

Fixed-rate

One of the most common mortgage types, a fixed-rate mortgage means your monthly payments remain the same, no matter what happens to interest rates.

A few things you should know about mortgages

  1. If you can, saving a larger deposit will usually give you access to better mortgage deals
  2. Government schemes like Help to Buy and Right to Buy can help to buy with a smaller deposit
  3. Remortgaging your property can often save you money on your existing monthly repayments
  4. Some mortgages can be transferred, or ported, ideal if you’re thinking about moving house

Your common mortgage questions, answered

What is stamp duty?

Stamp duty is a tax on buying property or land, usually set as a percentage of the purchase price. The amount of tax payable also generally depends on the value of the property you are buying and if you’ll be living in it or renting it out. It’s also worth noting that thresholds and levies are different in Scotland and Wales from England and Northern Ireland.

Can I get a mortgage if I’m self-employed?

Yes, however there may be a few extra hoops to jump through. In addition to the usual checks, you’ll usually need to provide two or more years’ worth of certified accounts and evidence of upcoming contracts, dividend payments or retained profits. As long as you can prove that you have a reliable income the application process is the same as for employed people.

What is an agreement in principal?

An agreement in principal is confirmation from your bank or building society on the amount they are willing to lend you. In most cases you’ll need this agreement in principal before you’re able to make an offer on a property.

How long does it take to get a mortgage?

This will be different for every application, there isn’t a specific time to wait for your application to be approved. Once your application has been submitted, approval can depend on a few different things, such as where you are in the chain, your credit rating and the outcome of any surveys.

Finding the right mortgage is quick and easy with QuoteSearch

Our cutting-edge technology compares products and features directly from leading providers. We also have experts just on the other side of the phone to discuss your individual needs.

Our service is completely free and there’s no pressure to take out a product. We’re 100% independent and FCA regulated, meaning you can proceed with confidence.

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