Looking for a mortgage? Finding the best deal on the market is virtually impossible by yourself, so it makes sense to use an adviser. They cost nothing, help you to get the best deal, and are regulated by the FCA which means they have to put your interests first. But not all mortgage advisers are created equal! We’ve partnered with SO Smart Money who will provide you with a quote that compares prices from every lender in the UK, meaning you can rest assured you’ll be saving both time and money.

✅ Borrow £25,000 to £1,000,000+

✅ Free service

✅ CCJ’s, Defaults and missed payments

✅ We compare products from more than 90 lenders, searching the whole of the market to find the most suitable product for you.

 

Your quote will be provided by an FCA-authorised mortgage specialist.

How to choose a mortgage broker

The perfect mortgage broker will:

  • Offer a free service
  • Be able to compare rates from every single UK lender
  • Interpret your needs and understand make recommendations for which mortgage will suit your needs best
  • Have a proven track record
  • Be able to advise you on all of more complicated options such as whether you’re better off with a tracker or fixed rate, how long a fixed term you should get, and so on
  • Provide a service that is professional and not pushy

While the perfect broker may not exist (there aren’t many who will actually be comparing every mortgage from every single UK lender), the ones you can get in touch with on this page come pretty close!

How to choose the best mortgage

The two main things you need to factor in when looking for a mortgage are how much it costs, and whether you and your property are eligible.

You’ll need to look at the loan to value you require (the size of the mortgage you need as a percentage of the property’s value), whether it’s for first time buyers, existing owners for a new home, or a remortgage, then check out the fees involved, the monthly cost in the initial period, and the cost thereafter.

There’s quite a lot involved so a qualified adviser can do a lot the hard work for you.

What are your mortgage options?

  • Repayment Mortgages: This is where your monthly payment gradually pays down the amount of money you owe.
  • Interest Only Mortgages: This is where your monthly payment only pays the interest on the capital. You’ll need to save separately to pay the capital at the end of the term. Interest Only mortgages typically involve a lower monthly payment but can cost more in the long run.
  • Fixed Rate Mortgages: Here, the interest rate is set at the start and stays the same until the fixed term ends. This term is always defined when you take out your mortgage, and is usually 2, 3, or 5 years.
  • Variable Rate Mortgages: With Variable Rate mortgages, the rate is often lower at the outset than with a Fixed Rate mortgage but it could go up or down if certain things (like Bank of England Base Rate) change.
  • Using an advisor or not: Many people choose to use an advisor to help them get the best deal. Some advisors are able to choose mortgages from the whole of the UK market, and some are able to select them from a segment of the market. It’s important to know what type of advisor you are using before you proceed.

Mortgage FAQs

The amount you can borrow will be influenced by the size of your deposit, your income, and your outgoings. Typically, most lenders will allow something in the region of four times your and your partner’s salary less your outgoings.

Rates tend to get better the more deposit you have, as it reduces the risk for the lender. As a first time buyer you now tend to need 15% if you want to buy all of the property. but if you have 5% you can use government schemes to buy a share in the property.

You’ll need to spend some time figuring this out. Start with your monthly income after tax, then figure out what you spend on bills, what you need for leisure, how much you want to save, and then look at what you have left.

There are usually fees involved, which will be made clear to you when you get a quote.

A mortgage adviser can take your details and find which mortgages you are eligible for before actually getting a quote. This can save a lot of time and help protect your credit rating.

About our mortgage comparison

We include an example of life insurance companies who you can get a quote from via a Financial Conduct Authority (FCA) regulated broker who we may introduce you to if you request a quote. We keep the information on this page up to date, but you will get a tailored quote from the broker we introduce you to.

If you choose to take out a policy, we may be paid a commission by the broker.