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Frequently Asked Questions About Mortgages
Getting started with you mortgage
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What exactly is a mortgage?
Hot Topics
- How Much Can I Afford?
- You have to be very careful when buying a house to be sure that you will be able to afford the monthly mortgage repayments – as you risk losing your home completely if you find you simply cannot afford it.
- What Is A Mortgage Indemnity Guarantee (MIG) And Will I Have To Pay It?
- The Mortgage Indemnity Guarantee is also known as a Mortgage Indemnity Premium or High Lending Fee. It protects the lender against the risk of you defaulting on your mortgage debt.
- Company Directors
- Are you a company director and looking for a mortgage, or remortgage to refinance your home? Our mortgage partners can arrange a mortgage for directors and the self employed, even those with less that two years accounts & low profits.
- What If I Die Before My Mortgage Is Paid Off?
- If you die before your mortgage has been repaid, your estate will face the cost of paying back the outstanding balance. The mortgage will not be written off by the lender, it will have to be paid by the next of kin.
- Cashback Mortgages
- Cashback Mortgages provide you with a lump sum of cash upon completion of the property purchase, either as a percentage of the mortgage or a fixed sum.
- Mortgages explained
- What will the initial costs of buying a house be
- How much can I afford?
- What is a loan to value (LTV) ratio?
- Income Multiples
- How much deposit do I need?
- What happens during the mortgage application process?
- What is a mortgage in principle ?
- How long are mortgages for ?
- How does a joint mortgage work ?
- How much is the valuation fee
- Will I have to pay an arrangement fee and how much will it be ?
- What is a Mortgage Indemnity Guarantee (MIG) and will I have to pay it?
- What is conveyancing ?
- Do I need a guarantor ?
- How do I prove my income
- No proof of income
- What happens if I am self-employed ?
- Interest rates explained
- How is interest calculated on a mortgage
- What happens if interest rates change ?
- Can I get a mortgage with a group of friends ?
- Do in need mortgage payment protection insurance ?
- Do I need home and contents insurance ?
- Unusual properties
- Company directors
- What happens if I am refused a mortgage ?
- Where can I buy a mortgage ?
- Mortgage glossary
After you've got your mortgage
- Repaying mortgages
- Can I take a break from making my mortgage repayments ?
- Can I repay my mortgage early ?
- What happens if I want to move home ?
- What happens if we have a joint mortgage but one of us wants to leave ?
- What happens if I can't keep up my repayments ?
- Is there any way I can lower my monthly repayments without switching mortgages ?
- What happens if there's a shortfall at the end of my mortgage term ?
- What if I die before my mortgage is paid off ?
- What are redemption penalties ?
Switching Mortgages (Remortgaging)
- What is a remortgage ?
- How do I know if I should switch mortgages ?
- How do I switch mortgages ?
- Refinance mortgages
Specific types of mortgage
- First time buyer mortgage
- 100% Mortgages
- Cash Back Mortgages
- Fixed Rate Mortgages
- Variable Rate Mortgages
- Discounted rate mortgages
- Capped Mortgages
- Base Rate Tracker Mortgages
- Self Certification Mortgages
- Isa Mortgages
- Flexible Mortgages
- Low Setup Cost Mortgages
- Equity Release Mortgages
- Buy to Let Mortgages
- Right to Buy Mortgages
- Commercial Mortgages
Mortgages and Credit Problems
- I have been turned down for a loan or credit cards, will I still be able to get a mortgage ?
- Previously declined
- What if I have bad credit ?
- Adverse credit
- Credit problems
- Mortgage arrears
- Bank defaults
- CCJ's - County Court Judgements
- Bankruptcy orders
- Repossession orders