Mortgages - Guides | moneyfacts.co.uk

Guides

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Mortgages Guides

Should I get an interest only mortgage?

Updated: 01st April 2019 An interest only mortgage is a type of mortgage where the borrower only pays the interest on the loan each month and does not reduce the actual value of the loan on the property. Read More...

Self build mortgage

Updated: 12th March 2019 A self-build mortgage is a mortgage that is specifically designed for those looking to build their own home. Read More...

Should I switch mortgage lenders?

Updated: 12th March 2019 If you have been with the same mortgage lender for many years you could be missing out on thousands of pounds of savings by not switching your mortgage to a new lender. There are occasions when sticking with your current lender is the best option. Read More...

Why use a mortgage broker?

Updated: 20th February 2019 An independent mortgage broker can really help you find the best deal. They do a whole lot more than simply find the cheapest mortgage. Read More...

Should I get a two or five-year fixed mortgage?

Updated: 04th February 2019 Fixed rate mortgages have the benefit of allowing borrowers to know exactly how much their repayments will be for the initial term chosen. The question is, how long do you want to fix your mortgage for? Read More...

Should I pick a long-term or short-term mortgage?

Updated: 01st February 2019 Should you be looking at a short-term or long-term mortgage? Moneyfacts gives you the benefits and drawbacks for those looking for a mortgage term of less than or more than the usual 25 years. Read More...

Can I get a mortgage as an older borrower?

Updated: 25th January 2019 For many years, older borrowers – those approaching retirement or already in retirement – struggled to find a mortgage when they wanted to move home or remortgage. That's changing. Read More...

How to pay off your mortgage early

Updated: 25th January 2019 Find out the best ways to pay off your mortgage early. Whether it’s shortening your term, overpaying or offsetting your savings we explain how you can get mortgage-free. Read More...

Is your credit rating good enough for a mortgage?

Updated: 25th January 2019 After years of saving for a deposit, months of hunting for the dream home and countless hours spent searching for the perfect mortgage, there is still one major hurdle to get over in the quest for homeownership - a good credit history. Read More...

How to choose an estate agent

Updated: 23rd January 2019 Here we look at practical ways to shortlist, negotiate with and manage estate agents, with the ultimate aim of ensuring you pick an agent that can get you the best sale price possible. Read More...

How much can I borrow for a mortgage?

Updated: 23rd January 2019 Before you start looking for that dream home, you need to know how much you're able to borrow in order to fund it. That way, you can search accordingly. Generally, how much you can borrow will depend on four things. Read More...

Should I fix my mortgage for five or 10 years?

Updated: 24th January 2019 Long-term mortgages are becoming increasingly popular, with many borrowers wanting repayment security for longer than the traditional two years. But what does it mean to take out a five or 10-year mortgage, and should you fix your rate for that long? Read More...

What are retirement interest-only mortgages?

Updated: 22nd January 2019 Retirement Interest Only mortgages are an alternative to equity release or downsizing if your mortgage has matured and you are unable to repay the capital. Find out more in this handy guide. Read More...

Mortgage tips for the over 70s

Updated: 18th January 2019 In today's world, where a growing number of people face the prospect of working well into their retirement years, it is hardly surprising that more people aged 70 and over are looking to secure mortgage deals. Find out more in this handy guide. Read More...

Why you should remortgage now

Updated: 11th January 2019 Motivation to remortgaging has already reached an 11-year high, with borrowers who are wary of potential economic uncertainty in 2019, find out why you should remortgage now. Read More...

Mortgage terminology – glossary and jargon buster

Updated: 11th December 2018 Baffled by mortgage terminology? Our glossary and jargon buster explains commonly used terms in the home buying and remortgaging process. Read More...

Help to Buy: Equity loan

Updated: 23rd January 2019 The Government’s Help to Buy Scheme was first launched in April 2013. It aims to help borrowers secure a 95% loan-to-value (LTV) mortgage on a new-build property. Read More...

Offset mortgages and compensation arrangements

Updated: 15th October 2018 It’s well documented that savings held in a UK bank or building society account are covered up to £85,000 by the FSCS, but what about savings offset against your mortgage? Read More...

What is a tracker mortgage?

Updated: 26th November 2018 Tracker mortgages are a type of variable rate mortgage. They’re different because they follow (or track) another rate, usually the Bank of England Base Rate. Read More...

What income can I use for a mortgage application?

Updated: 05th April 2018 An important part of any mortgage application is the affordability check – where the provider decides how much you can afford to borrow, and therefore what size mortgage you’ll be offered. Read More...

What is a shared ownership mortgage?

Updated: 04th May 2018 Find out which lenders offer shared ownership mortgages as well as how the scheme works, and why it might be suitable for you. Read More...

What is an offset mortgage?

Updated: 04th May 2018 Use your savings to pay off your mortgage sooner! Offset mortgages help you save mortgage interest by shortening your term, or lowering your payments… Read More...

Could you overpay your mortgage?

Updated: 26th November 2018 Mortgage rates have been at historically low levels for some time now, but the base rate started to increase in 2017 as well as more increases on the cards for 2018. Yet homeowners could continue to benefit for a while yet. Read More...

Getting on the ladder: First time buyers' guide

Updated: 07th March 2018 The current market is great for first-time buyers. Over the last few months there’s been a definite increase in the number of people getting on that first rung of the housing ladder, helped in no small part by Government incentives. Read More...

Repayment and interest-only mortgages explained

Updated: 04th May 2018 Find out how repayment and interest only mortgages work. This in-depth guide will tell you the risks, as well as who the different repayment types could be suitable for. Read More...

Improve your chances of getting a mortgage

Updated: 04th May 2018 If you haven’t remortgaged recently, you may find that you have to jump through a few extra hoops to obtain a new mortgage. Read More...

What is LTV?

Updated: 03rd May 2018 LTV, or loan-to-value, is how much mortgage you owe in relation to how much your property is worth. LTV becomes particularly important when you come to buy, sell or remortgage. Read More...

How much can I borrow for a mortgage?

Updated: 19th December 2018 How much mortgage you can have is determined by 4 key factors: income, outgoings, credit score & the percentage of the property’s value (LTV) you need to borrow. Read More...

Mortgages key factors to consider

Updated: 11th December 2017 There are various key factors that you should consider before you buy your mortgage. Here’s the Moneyfacts.co.uk guide to things to consider when buying your mortgage. Read More...

Help to Buy: Mortgage Guarantee

Updated: 03rd April 2017 Phase two of the Government’s Help to Buy scheme was officially launched in October 2013. This part of the scheme aims to help borrowers with at least a 5% deposit secure a 95% loan-to-value (LTV) mortgage. Read More...

Worried about how you will pay your mortgage?

Updated: 03rd December 2018 There are few things financially that can weigh so heavily on a mind, than worry about paying your mortgage. Worrying can be good for you; in that it can be the spark that ignites the fire of action. Read More...

What fees do I need to pay when getting a mortgage

Updated: 23rd November 2018 When you’re getting a mortgage it can seem that there are just fees, fees and more fees! Here's a list of the fees your mortgage lender may charge, and what they mean… Read More...

You and your mortgage

Updated: 05th December 2017 What is your relationship with your mortgage? Are you repaying it off as quickly as you can – are you overpaying? Take control now and become mortgage-free sooner! Read More...

What is a Standard Variable Rate?

Updated: 23rd November 2018 What is a Standard Variable Rate (SVR)? When will a lender raise it, when will they lower it? And what are the advantages and disadvantages of SVR mortgages? Read More...

What is a fixed rate mortgage?

Updated: 03rd May 2018 Fixed rate mortgages can seem simple at first glance, but it’s still worth brushing up on how they work, and the things to be aware of if you’re considering one. Read More...

What is a capped mortgage?

Updated: 23rd November 2018 Capped mortgages are actually a type of variable rate, but with the difference that they have an interest rate cap, beyond which your payments can’t rise. Read More...

What is a discounted mortgage?

Updated: 23rd November 2018 Discounted mortgages offer a discount off another interest rate – normally a Standard Variable Rate. But despite the name they may not be the very best mortgage rates on offer. Read More...

Top 10 tips when choosing a mortgage

Updated: 26th November 2018 Buying a house is one of the most expensive purchases that we make in our lifetime; so choosing the right mortgage is crucial. Read More...

How to choose an estate agent

Updated: 11th December 2017 Find out how to choose the best estate agent in this guide. We look at practical ways to shortlist, negotiate with and manage your chosen estate agents. Read More...

Mortgage valuations are not in-depth surveys

Updated: 23rd November 2018 Mortgage valuations shouldn’t be confused with a property survey. You should consider having a survey too, to avoid an expensive surprise down the line. Read More...

What is a flexible mortgage?

Updated: 04th May 2018 Just what exactly is a flexible mortgage? It certainly doesn’t mean you can pay it when you want to! However, it does give you greater flexibility when compared to a normal mortgage - and here's how... Read More...

Infographic - How to buy a house

Updated: 30th November 2017 Find out how buying a house works, from making your offer to completion. This guide explains the mortgage & legal processes including where delays may arise. Read More...


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