.png)
FAQs
Decision in Principle (DIP)
Q: What is a Decision in Principle? A: It’s a soft credit check and affordability review that gives you an estimate of how much you might be able to borrow — subject to a full application. Q: Is there a difference between a Decision in Principle, Mortgage in Principle, or Agreement in Principle? A: No, these terms all mean the same thing. Lenders and brokers may use different names, but the process is identical. Q: When should I get a Decision in Principle? A: Ideally, before viewing properties. It strengthens your position when making offers and helps avoid disappointment later in the process. Q: Can I apply to one lender for a DIP and another for my full mortgage? A: Absolutely. A DIP doesn’t tie you to a specific lender. When you find a property, we’ll review the market again to ensure you're getting the best deal. Q: How long does a DIP last? A: It depends on the lender, but most are valid for 1 to 3 months.
Types of Mortgages
Q: What is a Capital Repayment Mortgage? A: You repay both the interest and the loan each month. At the end of the term, the full mortgage is cleared. Q: What is an Interest-Only Mortgage? A: You pay just the interest each month. The loan itself isn’t reduced, so you’ll still owe the full amount at the end of the term. Q: What is a Fixed Rate Mortgage? A: Your interest rate remains the same for a set period (commonly 2, 3, or 5 years). Q: What is a Variable Rate Mortgage? A: The interest rate can go up or down, depending on market changes and the lender’s terms.
Documentation
Q: How many months' payslips do I need? A: You will need 3 months. Some lenders may accept 1 month or a signed employment contract for a new role. Q: What if I’m self-employed? A: You will need 2 years of tax calculations and overviews, plus 3 months of business bank statements. Limited company directors may also need full company accounts. Q: Do I need to provide bank statements? A: You will need 3 months bank statements. Some lenders may also require more. Q: Do I need to provide ID and proof of address? A: Often, yes. However, some lenders run electronic checks. We still recommend having these documents ready, just in case. Q: Can I send photos of documents or do they need to be PDFs? A: PDFs are preferred for clarity. Photos can be blurry and harder to process, which may slow down your application.
Mortgage Lenders
Q: Do you work with all mortgage lenders? A: We work with a wide panel, but some lenders (like Lloyds and First Direct) are direct-only and not available to brokers. Q: Should I apply with my current bank? A: Not necessarily. Your bank won’t favour you if you don’t meet their criteria. We search across lenders to find the best fit. Q: Do you only recommend high street lenders? A: No. We work with high street banks, building societies, and specialist lenders. Q: Will I be recommended the best mortgage deal? A: Yes — based on your individual circumstances. Not every lender will accept every applicant, so we focus on what's best for your profile. Q: What if I don’t want to use a lender with bad reviews? A: We understand concerns. If you’ve had a bad experience or don’t feel comfortable, we can look at alternatives. Most lenders have mixed reviews, so we focus on reliability and suitability.
Remortgaging
Q: When can I review my mortgage deal? A: Around 6 months before your current deal ends, as that’s how long most mortgage offers last. Q: What if I lock in a deal and rates go down? A: No problem — we can continue monitoring for better deals. You’ll have the option to switch or stick with your locked-in rate. Q: Is the documentation different for a remortgage? A: No, it’s generally the same as for a purchase. Q: If I stay with my lender, why use a broker? A: We monitor deals, handle the process, and remove the stress. You could miss better rates without ongoing support. Q: Do I need a solicitor for a remortgage? A: Only if you switch lenders. The legal process is simpler than buying and often paid for by the new lender.
Buy-to-Let Mortgages
Q: What is a Buy to Let mortgage? A: It’s a mortgage on a property you intend to rent out instead of living in yourself. Q: Do I need a larger deposit? A: Typically 25%, though some lenders accept 20%. Q: Can I live in the Buy to Let or let family live there? A: No, that would breach the mortgage terms. Q: Should I use a limited company or personal name? A: It depends on your tax situation. One property may not justify a company, but portfolios often benefit. Speak to a tax adviser. Q: Can first-time buyers get Buy to Let mortgages? A: It's possible, but options are limited. Most lenders want you to have owned a home for at least 6 months.
Adverse Credit
Q: Can I get a mortgage with bad credit? A: Yes, depending on the type and age of the credit issues. We work with specialist lenders. Q: Will I need a larger deposit? A: Often, yes. But some lenders offer 95% mortgages if your credit issues are historic. Q: Can I still use a high street lender? A: Possibly. Minor issues may be accepted with a good deposit and strong application. Q: What types of credit issues can you help with? A: Missed payments, defaults, CCJs, DMPs, IVAs, bankruptcy, repossessions, and more. Q: What if I can’t get a mortgage now? A: We’ll create a plan and support you until you’re ready. Just because it’s a "no" now doesn’t mean "never."
Debt Consolidation
Q: What is debt consolidation? A: Using the equity in your home to pay off unsecured or secured debts like loans and credit cards by increasing your mortgage. Q: Should I consolidate debt? A: Not always. It depends on your circumstances. We assess whether it’s appropriate or if other options may be better. Q: What’s the risk? A: You’re converting unsecured debt into secured debt, which means your home is at risk if you fall behind on payments. Q: What if I’m already struggling financially? A: Speak to us. We can help explore all available options before considering debt consolidation.
Solicitors & Conveyancing
Q: What is a conveyancer? A: A legal professional who specialises in the property transaction process. Q: How do I find one? A: You can find your own, take a referral from your estate agent, or ask us for a trusted recommendation. Q: Anything important to know? A: Not all solicitors are accepted by all lenders. Wait until your lender is confirmed before instructing one. Q: How long does conveyancing take? A: It varies. A simple case might take a month, but it can stretch to 6 months or more in complex scenarios. Q: Is it best to choose the cheapest solicitor? A: Not always. Cheaper options may lack strong communication or quick turnaround times, which can delay your purchase.
Protection Cover
Q: Do I need life insurance with a mortgage? A: It’s not mandatory, but highly recommended to protect your home and family if the worst happens. Q: What types of cover are available? A: Life Insurance, Critical Illness Cover, Income Protection, Family Income Benefit and we can also advise on Accident, Sickness and Unemployment insurance. We’ll help you choose what’s right for you. Q: Can I get cover if I have a medical condition? A: Possibly. Premiums may be higher, but options are often still available. Q: When should I review my cover? A: Every few years or after a major life change (e.g. having a child, moving home). Q: My employer gives me life cover. Do I need more? A: Employer policies end if you leave the job. Having your own cover ensures continuous protection for your family.