Frequently Asked Questions

Frequently Asked Questions

Mortgage Questions

How much can I borrow?
How much you can borrow will depend on how much deposit you have to put down as an initial down-payment on your property. It will also depend on your income and whether or not you have any other financial commitments such as loans, credit cards, maintenance payments etc. To find out exactly how much you can borrow, contact us or use our online enquiry form on the left.
If I can't prove my income, what are my options?
If you are finding it difficult to get a mortgage because you're self-employed, do contract work or have an income that's not easily assessible, then a self certification mortgage may be the best mortgage option for you.

A self cert mortgage allows you to certify your earnings without having to supply proof of income documentation, such as pay slips or fully audited accounts. Self cert mortgages are generally suited to those who are self-employed, or employed but have an irregular income, due for example to bonuses and commission. They are also suitable for those who may have several jobs, possibly seasonal wage earners or those who regularly undertake short term contract work.

To find out if you qualify for a self cert mortgage contact us and we'll advise if this is the option for you.

Self-Certification/No Proof of Income - The overall cost for comparison is 8.9% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.

How much will my payments be and will there be any additional costs?
Your mortgage payments will depend on the following factors:
  • the mortgaged amount
  • the interest rate
  • the mortgage term (number of years to repay)
  • if the mortgage is interest only or a repayment

A Key Facts Illustration detailing what your monthly payments would be will be provided after consulting with one of our advisors. You should also consider the additional costs involved when budgeting for your mortgage. These are:

  • valuation fee, payable to an approved independent surveyor often commissioned by your lender, who will carry out an assessment of the value of the property
  • arrangement fee, this is charged by your lender when arranging the mortgage, although some mortgage lenders have deals that do not incurr arrangement fees.
  • solicitor's fees for carrying out the conveyancing work on your property, where they check the deeds are in order.
  • Buildings & Contents Insurance and Life Assurance


To find out exactly how much your repayments will be use our online enquiry form to send us your requirements one of our advisers will contact you to discuss your requirement and provide you with a quote.

Can I raise additional capital?
As house prices have risen significantly over the past few years, many home owners want to release some of the equity in their home by re-mortgaging.

Contact us in the first instance and we'll advise you on your best re-mortgaging options. We'll check the terms and conditions of your existing mortgage and these will indicate if you are tied-in to your existing mortgage deal or if there are any early repayment charges (redemption penalties).

It's then up to you to decide if it's worth moving to a different lender or stay with your current one until the penalties have expired.

How long does it take to get a mortgage?

It's not easy to give an exact time scale as there are many influencing factors, such as whether you are purchasing a new property or remortgaging.

If you are remortgaging it can take around a month but this does depend on how qresponsive your solicitor is, as they can delay the process.

People with an adverse or poor credit history and those going down the self certification process may find it takes longer to get lender approval as their financial position is usually a little more complex.

What's the difference between a repayment and interest only mortgage?
Mortgage lenders offer a variety of schemes from which you can choose. These can be divided into two broad methods of repayment:

Capital & Interest method: - The capital and interest elements of the loan are paid off with each monthly instalment, with the balance reducing over the length of the loan. Therefore by the end of the mortgage term, assuming all mortgage payments are made, you have paid off the balance in full and you own your property outright.

Interest only method: - The balance of your mortgage stays the same throughout the mortgage term. Interest and usually a premium in a suitable investment vehicle are paid monthly. At the end of the term, the proceeds from the investment vehicle are intended to repay the mortgage. This amount will depend on the performance of the investment vehicle. If you do choose an interest only mortgage you are responsible for ensuring that you have sufficient funds available to repay your mortgage at the end of the term.

Can I get a mortgage to build my own house?
We can source a number of flexible mortgages that are specifically designed for people wishing to self build or renovate.

At the start of each phase of the build, money is released to finance the construction. This enables you to negotiate the best prices for material and labour.

How do I purchase my council property?
If you are a secure tenant of either; a district council, a London Borough council, or a housing action trust, a non-charitable housing association then you may qualify to buy your council home.

So if you are a council tenant wanting to buy your home, you may qualify for a discounted rate which will depend upon how long you have lived there. The amount of discount will be in proportion to the number of years you have been paying rent for your council property.

Once your right to buy has been approved by your council, think about how much you need to borrow and what you can afford to repay. You may decide you wish to carry out home improvments in which case most lenders will allow you to borrow a little extra in addition to your mortgage. All borrowers are required to be on the right to buy papers.

Right to Buy - The overall cost for comparison is 8.2% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.

Equity Release Questions

Will I still be able to move home?
Yes. The option is still open to move home in the future with the equity release plans we recommend. The equity release provider will need to approve your new property subject to their own terms and conditions.
Can I release equity from a second home?
It is possible to release equity from a second home or retirement property. Please call us on 0845 057 3306 so we can assess your situation and give a correct answer.
Will I qualify for an Equity Release Plan?
You will normally qualify for an equity release plan if:
  • You are a homeowner with little or no mortgage outstanding
  • You and your partner are aged between 55-95
  • Your home is worth at least £50K
How long will it take to receive the money?
Around 8-12 weeks is the norm from application to completion but it depends on the provider and equity release plan.
What amount of cash will be available?
It is dependent on your age and your peroperty value. The cash you can release depends on the provider so it is crucial to get professional advice to give you an idea of what could be available.
How will my home be valued?
Your home will be assessed by an independent chartered surveyor and the true value of your property determined. The valuation is arranged by the equity release provider.
Can I release more cash in the future?
It's possible but it depends on the equity release plan you have and the amount already released. Contact us to find out if a top up would be available.
Can I repay the Equity Release Loan
Equity release plans are normally repaid when the last surviving partner move into care or upon their death. If you repay the loan before this time you may incurr early repayment charges on a lifetime mortgage. Reversion plans can't usually be reversed as you have sold a percentage of your home to the provider in return for tax free cash and lifetime lease.
What happens if my partner dies?
The equity release plans we recommend give you both the right to remain in your home for as long as you wish.
What happens if my property changes in value?
Should property prices rise you would benefit unless you had released all of the value of your home with a home reversion plan. Should property prices fall you would never owe more than the value of your home as you are protected by a 'no negative equity guarantee'.
Will my children inherit any debt?
No. The plans we recommend come with a 'no negative equity guarantee' so you would never owe more than your property value.
How will any state benfits be affected?
Your entitlement to state benefits will need to be re-assessed if you release cash from your home. We are able to find out whether you qualify for benefits and whether releasing equity would affect your entitlement.

Call Back Service

If you would like further advice about our services the please enter your details in the form below and one of our advisors will contact you directly.


Equity / Mortgage Enquiry


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