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Mortgage basics
Everything you need to understand how mortgages work
Mortgages can seem complicated and with so many different options to choose from, it’s not always easy to know where to begin. Working out how much you can afford to borrow, understanding which deals you’ll be eligible for, and how your circumstances might affect your options can all make the process seem daunting.
That’s where we can help. Our mortgage basics guides are designed to give you all the fundamental knowledge you need to get started.
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Want to speak to a mortgage adviser? Speaking to an experienced adviser can help you to understand your options and get a great deal on your mortgage.
If you’re looking for expert mortgage advice, you can get a free consultation with a mortgage adviser at HUB Financial Solutions. Speak with a qualified, FCA-regulated adviser you can trust. HUB Financial Solutions is rated ‘Excellent’ on Trustpilot. Please note your home may be repossessed if you don’t keep up with mortgage repayments.
Getting started
Getting to grips with all the mortgage basics can help make finding the best deal to suit your circumstances much easier. The following guides explain which types of mortgage deal you might be eligible for, how to apply for a mortgage and what sort of costs are likely to be involved.
Types of mortgages
There are numerous different types of mortgage to choose from. The right kind of mortgage for you will depend on how much budgeting certainty you need, your income and how much you can afford to repay each month, and why you need a mortgage. For example, you might want to buy a property to let out, remortgage your existing home, or be a first-time buyer. Whatever you’re looking for, our guides can help guide you through the mortgage maze.
When you apply for a mortgage, lenders will want to see proof that you’ll be able to comfortably afford your mortgage payments, both now and if interest rates rise. We explain what sort of information you’ll need to provide and look at some of the costs and fees you may need to pay.
Our mortgage affordability calculator gives you an idea of what you could borrow, based on your income and outgoings.
Mortgages and deposits
Your deposit is the amount of savings you need to put down when buying a home or, if you’re remortgaging, it is the amount of equity you own in your property (along with various other criteria) which will determine which mortgages you have access to. Here, we explain how much you’re likely to be able to borrow, some of the ways you might be able to boost your deposit, and how to pay down your mortgage.
Managing your mortgage
Getting a mortgage is just the start of your home ownership journey. You’ll need to review it regularly to make sure you’re on the best possible deal, and there may be times when you struggle to make your monthly payments. We explain everything you need to know about managing your mortgage.
Mortgage news
Stay updated about the latest happenings in the world of mortgages here. Whether it’s what’s happening to interest rates, changes to government schemes, or the general state of the property and mortgage market, we’ve got it covered.