Search mortgages from across the market for a great deal
Whether you are looking for a first-time buyer mortgage, a remortgage, to move house or a buy-to-let mortgage we can help. Compare mortgages today to see how much you can afford and which products are available to you.
What Type Of Mortgages Can Be Compared?
As well as standard mortgages, you can also compare the following types of mortgage:
- First Time Buyer
Buying your first property can be a daunting process and comes with a steep learning curve. Compare first time buyer mortgages to take the hassle out of finding the right deal. - Remortgage
When the time comes to re-mortgage, compare your options from across the market to see if you can find a better deal with lower monthly repayments. - Buy To Let
Being a landlord is harder than ever in a number of ways, including financially, so it’s crucial you find the best mortgage available. Compare buy-to-let mortgages online. - Bridging Loans
Compare leading bridging loan providers to find suitable short term finance for your requirements.
Fixed rate mortgages
Fixed rate mortgages ensure you pay a fixed interest rate for a set time period, as opposed to a variable rate mortgage where the interest rate you pay varies depending on the Bank Of England’s interest rate.
What are the advantages of a fixed-rate mortgage?
Fixed-rate mortgages are a good way of giving homeowners security and peace of mind in knowing exactly how much their mortgage payments are going to be for the foreseeable future. They are typically taken out over a period of 2 & 5 years, although some products can offer a 10-year fixed-rate mortgage which provides home buyers with a decade of unchangeable monthly payments.
If variable rates go up during your fixed-rate term, you won’t be affected by the negative changes.
What are the disadvantages of a fixed-rate mortgage?
Being in a fixed rate mortgage means you must honour the contract time. You will be charged an exit fee called an Early Repayment Charge (ERC) if you decide to switch to another mortgage during that time. These charges can be substantial so it is worth seeking advice on this when you apply through our fee-free mortgage broker. There are a number of types of ERCs to consider and you should take this into account when choosing a mortgage.
Variable rates can go up but they can also go down. In the event of this, you will still be paying your fixed rate, meaning although you’ve secured a steady payment method that doesn’t fluctuate you may also be paying more than you have to.
Mortgage FAQs
What Is A Mortgage?
A mortgage is a loan that you borrow from a bank or similar financial institution that enables you to buy a property. In most cases to buy a property you will also need a deposit of at least 5% of the property value.
What affects the amount I can borrow?
The amount you can borrow takes into account your income as well as your outgoings, e.g. other financial commitments. You can use our mortgage calculator above to get a better understanding of the amount you will be able to borrow, although the actual amount you can borrow will depend on other actors including your credit history.
What fees are typically charged with a mortgage?
Mortgage Adviser: You may have to pay a fee to a mortgage adviser if you choose to use one.
Booking fee: A fee to reserve your mortgage whilst the application goes through.
Arrangement fee: A payment to the mortgage lender which is typically around £1,000 for setting up the mortgage, but can go as high as £2,500. This fee can be paid upfront or it can be added onto your mortgage.
Valuation fee: A fee to cover the cost of the lender valuing your property to ensure that they are satisfied that the property is worth the amount that you are paying for it.
Legal fees: Solicitors fees, search fees and stamp duty. Stamp duty is a tax that is paid on property purchases. The percentage amount paid varies depending on the value of the property so make sure that you have taken this into account.