A fixed-rate mortgage has a set interest rate for a specific period, ensuring stable monthly payments. A variable-rate mortgage can fluctuate based on market conditions, potentially affecting your repayments.
Most lenders require at least 5-10% of the property’s value, but a higher deposit (e.g., 15-20%) can help secure better interest rates.
Lenders assess your credit score, income, employment status, deposit amount, and existing debts to determine how much you can borrow.
Life insurance ensures that your mortgage is covered in case of unexpected events, preventing financial burden on your family.
Remortgaging means switching to a new mortgage deal, either with your current lender or a new one. It’s beneficial when your current deal is ending, you want better rates, or need to release equity from your home.
Yes! Self-employed applicants need to provide at least two years of accounts, tax returns, and proof of stable income to secure a mortgage.
11 Hulme Close, Coventry, CV3 2XN, UK