A mortgage is a secured loan used to buy a property.
We offer owner-occupied mortgages, which means you live in the property you’re buying, and buy to let mortgages, when you buy a property to rent out to someone else.
A fixed rate mortgage means your monthly payments and interest rate will stay the same during your agreed product term, which is usually for 2 or 5 years. After your fixed term ends, your mortgage will move to the lender’s variable rate.
A variable rate mortgage means your interest rate can change at any time and will move in line with market rates, so your payments could go up or down depending on market conditions.
With a repayment mortgage your monthly payments will pay the interest and also go towards paying off the amount you’ve borrowed. Your mortgage balance will gradually reduce and if you make all the agreed monthly payments, you’ll repay your mortgage in full at the end of the term.
With an interest only mortgage your monthly payments only pay off the interest on the amount you borrow. You’ll still owe the amount you originally borrowed at the end of your term, so you’ll need to have suitable plans in place to pay the outstanding amount at the end. Please contact your broker for more information on suitable ways to repay.
Freehold: you own the property and the land it stands on, for an unlimited period.
Leasehold: you own the property but not the land it’s built on – that’s owned by the freeholder. Ownership of your property is also for a set period, which can be a number of years, decades or centuries, depending on the length of your lease. If your lease expires, ownership of your property technically passes to the freeholder.
You can apply for a decision in principle before you've found a home to buy, and you may be asked to confirm you have one before you can make an offer on a property. You'll then make a mortgage application once you've had an offer accepted.
Yes, we have a range of mortgages to choose from (including options for those with a smaller deposit) and you can apply if you're aged 21 years or over. Your mortgage can be paid back over a maximum term of up to 40 years.
When we look at how much we'll lend to you, we'll look at your income and outgoings, and consider your LTV (loan to value) calculation, which means the value of the mortgage compared to the total value of the property. You can find out more about our first time buyer mortgages here.
If you’re a UK or EU national with settled status and have been continuously resident in the UK for the last 2 years then you can apply for a mortgage with us.
If you’re a non-UK national, then we’ll consider your application as long as you’ve been living in the UK for the last 2 years and also have a non-conditional and permanent right to reside.
We don’t consider applications from ex-pats and those with diplomatic immunity.
Yes. As a specialist lender we have a range of mortgages for all types of landlord, from one property to those who operate under a limited company structure and portfolio landlords. You can find out more here.
We'll consider each application on an individual basis. If you’ve been turned down by another lender please contact a broker as they’ll be able to discuss your personal circumstances to help find the right mortgage for you. You can find a mortgage broker by searching online or by asking friends or family for personal recommendations. Don’t forget to check they're registered with the FCA. You can do this by visiting register.fca.org.uk.
You'll find all the information you need about managing and making changes to your mortgage here.
If you're thinking about additional borrowing, our mortgage advisers are here to help you through the process.
If you’re concerned about making your mortgage payments, we’re here to talk things through.
Subject to status. Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments.