FAQS

A mortgage is a loan that is used for the purchase of a property. The mortgage lender has the option to repossess the property if you cease your payments they're likely to sell the property on to recoup their losses. Lenders also charge interest which is the price you are paying them to receive the loan. So your total repayment will be your loan amount plus interest.

This varies on situation but we are always happy to work with you so you can find the route that maximises your loan potential. Lenders typically loan 4.5x your income e.g. if you earn £22,000 a year you could estimate a loan amount of £99,000 (plus your deposit). Try our free mortgage calculator to find out how much you can borrow in just 10 minutes.

This is simply swapping your mortgage product or provider when your deal comes to an end. It's important to note that if you try to change your deal too early you can be subjected to an 'early repayment charge' from some lenders. You can remortgage for various reasons e.g. Home renovation, equity release or simply changing to a cheaper deal.

Both rates are variable, this means they are connected to the Bank Of England base rate and changes with it. A standard variable rate is the typical mortgage rate of the lender so doesn't include any discounts and deals. This usually follows the base rate approximately. However a tracker mortgage is linked to a specific base rate which moves up & down with "tracks". The most common rates to be tracked are the Bank Of England base rate and LIBOR (London Interbank Offered Rate).

If this is your first time we recommend speaking to your mortgage advisor. As lenders may increase your interest rate due to the increased risk. Mortgage advisors can give you the necessary insight on your mortgage & insurance options. Remember the insurance you require on the build may change as it is now serving a different purpose.

An AIP (Agreement In Principle) is a declaration that you receive from your lender that outlines how much they are willing to lend you. This helps you have a clear budget and allows you to make offers on properties as most estate agents won't count your offered if you don't have an AIP as this is the evidence to show you can afford the property.

Fees are only payable when you receive the keys to your new property. We will work with you until that outcome, even if sales fall through or your offer is rejected we offer a start to finish mortgage service. We also like to keep in contact to offer you our services when it comes to remortgaging.