Hot Topics

How Much Deposit Do I Need?

As a general rule of thumb, you need to make a deposit of about 5 – 10% of the total amount you are borrowing.

What Happens During The Mortgage Application Process?

The mortgage application process, once underway, does not take very long. Once you have decided to go with a certain lender and signed a purchase contract, the lender will run a full credit check verifying your income, liabilities and your ability to repay the loan.

What is a Mortgage in Principle?

A Mortgage in Principle is a conditional offer made by a mortgage lender to verify that they will ‘in principle’ give you the mortgage loan you have discussed with them.

What are Variable Rate Mortgages?

A variable rate mortgage is when you pay a standard variable rate (SVR) that changes in line with the Bank of England's base rate. The SVR is usually between 2% and 4% higher than the Bank of England's base rate, but this will vary from lender to lender.

What Happens If I Have Bank Defaults?

If you have failed to meet payments on a credit agreement such as secured loans, unsecured/personal loans, credit cards, store cards or car finances etc, or you have failed to comply with your lender’s requirements, you will be described as having 'defaulted'.