Professional Mortgage Advice

Mortgage Advice - FAQ

Read the answers to some of our most commonly asked questions about our mortgage advice.



Questions about our Mortgage Advice

A mortgage is a loan that you use to buy a property. When you buy your home, you'll put down a cash deposit and pay for the rest using a mortgage from a bank or building society. You then pay the mortgage plus interest back (Repayment mortgage) in monthly instalments over a set number of years. While your home serves as collateral for your mortgage, as long as the terms of that mortgage are met you, as the borrower, are the owner of your home not the lender.

They give you unbiased advice and will be able to choose from a range of lenders and multiple products, rather than being restricted to the single range from one lender you go to. Mortgage brokers must be qualified to give you mortgage advice so can provide expert advice as well as give you reassurance that you are dealing with a professional.

The amount you qualify for will be based on the purchase price of the property, the deposit you are able to put down, your income and monthly expenses and existing commitments. Refer to our mortgage calculator for a guide.

You are looked after by CeMAP Qualified expert mortgage advisers as well as being regulated under the FCA (Financial Conduct Authority).

Also, we are covered by the FSCS (financial Services Compensation Scheme)

So, you will have three forms of protection when using a mortgage broker.

There are two main types of mortgages:

Fixed Rate Mortgage and Variable Rate Mortgage. A Fixed Rate Mortgage means that your interest amount is fixed for a period of time therefore your repayments don’t change.

A variable rate mortgage means the amount of interest on your mortgage you pay can change.

There are a number of different mortgages related to the two main types, contact our advisers for more information.

We don't have a minimum contract term, we find our clients stay because of our excellent customer service. We don't believe in tying them into a contract.

Yes, Getting a mortgage as a self-employed person can be more difficult though as you have to prove you have a reliable, regular, and stable income. But you still absolutely have the same right to get a mortgage just like everyone else. It can just be trickier to get all your paperwork together, but you have us to help you with that.

Being self-employed can fall into many different categories, freelancer, contractor, sole trader or maybe even a company director. There are a few different factors to consider depending what kind of self-employed category you’re in. But lenders will categorise you as self-employed if it’s your main source of income, or you own more than 20 to 25% of a business.

If you’re self-employed and want to know how much you could borrow on a mortgage, then contact us to discuss your situation.

You do not need a mortgage or agreement in principle to make an offer, but it helps when looking. It will give you a better chance of getting an offer accepted for a house as sellers will take you more seriously. If another potential buyer with a mortgage in principle makes an offer on the same house, you may find that your offer could likely be rejected.

This will not necessarily stop you from getting a mortgage. Our advisers have helped clients with adverse credit in the past. There are a number of lenders that we work closely with who will still consider someone who have previously had trouble sourcing finance. Talk to one of our advisers for advice.

No, is the simple answer. However, we would highly recommend that when you take out a large debt for a house, you should also consider protecting it against the unthinkable like death, injury, or long-term illness.

Mortgage lenders will insist buildings insurance is in place as you move into your new home. Home insurance combines buildings and contents insurance to cover your most valuable asset. Contents Insurance is not mandatory, but most lenders will require you to take out Buildings Insurance.

Read our information on First Time Buyers.



Get in touch

If you would like further information or want to discuss your requirements, please get in touch.

T: 02394 311 110
E: info@astutemortgages.co.uk



“To inspire, bring optimism, generate knowledge and understanding. To work towards your desired home, your needs, your demands, as well as your future goals. Our service gives you the power of choice, variety, knowledge, and the ability to work outside the box. Your dreams are real, our work ethics are real, together we can work on the solutions, and make them a reality.”