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Mortgages

First Time Buyers: Starting Your Journey

Becoming a homeowner for the first time is a milestone. We simplify the complexity by helping you understand your borrowing power and the costs involved.

  • The Deposit: You’ll typically need a minimum of 5%. The larger the deposit, the better the interest rates available to you.

  • Borrowing Factors: Lenders look at your income, credit rating, outstanding debts, and regular outgoings.

  • Government Support: We can guide you through schemes like the Lifetime ISA (LISA) for a 25% government bonus or the First Homes Scheme for discounted property prices.

  • Key Tip: Get an Agreement in Principle before you start viewing houses to show sellers you are a serious buyer.

Self-Employed Mortgages: Professional Solutions

Being your own boss shouldn't stop you from owning a home. While the "legwork" is higher, the mortgage products available to you are the same as those for employees.

  • Proof of Income: Most lenders look for 2 years of trading history. You will need SA302 tax calculations and certified accounts.

  • How You’re Assessed:

  • Sole Traders: Averaged net profit over 2–3 years

  • Limited Company Directors: Salary plus dividends or share of retained profits.

  • Contractors: Often calculated using an annualised day rate.

  • Pro Tip: Use a chartered accountant to prepare your figures to ensure the highest level of lender confidence.

Remortgaging: Optimising Your Finances

Note: Based on the "Remortgage" category seen on the site menu. Don't pay more than you have to. When your initial fixed or discounted rate ends, you often default to the lender's expensive Standard Variable Rate (SVR).

  • Why Remortgage? To secure a lower interest rate, fix your monthly payments for peace of mind, or consolidate debt.

  • Capital Raising: You may be able to release equity from your home for renovations or other major expenses.

  • Timing: Start looking at your options 3–6 months before your current deal expires to avoid a "payment shock."

Buy-To-Let: Building Your Portfolio

Note: Based on the "Buy-To-Let" category seen on the site menu. Investing in property requires a different financial approach, as these mortgages are often assessed on the property's potential rental income rather than just your personal salary.

  • Rental Coverage: Lenders typically require the rent to cover 125%–145% of the mortgage payments.

  • Larger Deposits: Buy-to-Let usually requires a higher deposit, often a minimum of 20%–25%.

  • Regulation: Note that Buy-to-Let mortgages are generally not regulated by the Financial Conduct Authority (FCA)

Insurance: Your Financial Safety Net

Mortgages are a long-term commitment; insurance ensures you can keep your home even when life takes an unexpected turn.

  • Life Insurance: Provides a tax-free lump sum to your dependents, ensuring they can stay in the family home.

  • Income Protection: Offers a regular income if you’re unable to work due to illness or injury until you recover or retire.

  • Critical Illness Cover: Pays a lump sum upon diagnosis of specific conditions (e.g., stroke, cancer) to cover bills or medical adjustments.

  • Mortgage Payment Protection: Specifically covers your mortgage payments for a set period (usually 2 years) if you lose your income.

Book a Free Initial Consultation

Your home may be repossessed if you do not keep up the repayments on your mortgage.

There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances, with the fee being up to 1% but a typical fee is £495