Frequently Asked Questions

With a first-time buyer mortgage, you're likely to be looking for a 90% or 95% mortgage deal (meaning you'll need a 5% or 10% deposit saved).

Re-mortgaging has similar fees to a standard mortgage, such as broker fees, arrangement fees and legal fees. The reason for your re-mortgage can also have an impact on the fees. A deposit is not required, but it can improve your chances of acceptance, especially when looking to move to a higher value property.

The typical costs are booking fees, arrangement fees, valuation fees & legal fees. Most people only consider the interest that will be charged on a mortgage by the lender but it’s also important to take into consideration these additional costs before going ahead.

With an interest-only mortgage, your monthly payments only cover the interest charged on your loan. With a repayment mortgage, your monthly payments are also used to pay back the initial sum you borrowed.

There are two main types of mortgage interest rates: Fixed rate: the interest you're charged stays the same for a number of years, typically between two to five years. Variable rate: the interest rate you pay can change.

A Decision in Principle is an indication from your mortgage lender of how much they may be willing to lend you for your mortgage.

Loan to value ratio, or LTV, is the ratio of what you borrow as a mortgage against how much you pay as a deposit.