Mortgage Calculator
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Comprehensive guides on every aspect of UK mortgages, from application to completion.
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Latest Mortgage Guides
Expert advice and insights for your UK mortgage journey
First-Time Buyer Guide
Everything you need to know about buying your first home in the UK, from saving for a deposit to completion.
Types of UK Mortgages
Understand the different mortgage types available in the UK market and which one might be right for you.
Stamp Duty Explained
A comprehensive guide to Stamp Duty Land Tax in the UK, including rates, exemptions, and how to calculate it.
Understanding Mortgage Rates
Learn about how mortgage interest rates work, what affects them, and strategies to secure the best rate.
UK Mortgage Basics
What is a Mortgage?
A mortgage is a loan secured against your property. You'll need to make monthly repayments over a set term, typically 25-35 years. The loan is 'secured' because the lender can repossess your property if you don't keep up with repayments.
How Much Can I Borrow?
Most lenders will offer 4-4.5 times your annual income, though this can vary. They'll also consider your expenses, credit history, and existing debts when deciding how much to lend you.
Deposits Explained
A deposit is the amount you pay upfront towards your property. It's usually at least 5% of the property price, but a larger deposit (20%+) will often secure better interest rates.
Interest Rates
The interest rate determines how much you pay to borrow the money. Rates can be fixed (staying the same for a set period) or variable (changing over time). The Bank of England base rate influences most mortgage rates.
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