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Mortgages guides

Mortgages guides

Mortgages can be complex. Our guides break down the intricacies of every vital mortgage topic including; deposits, guarantors, fixed or tracker and the lending available to first-time buyers. What type of mortgage are you looking for?

How to apply for a mortgage in principle

To be sure that you can borrow the amount of money you're likely to need to buy a property, you can apply for a mortgage in principle. We look at what you need to be prepared for to get your agreement in principle right first time.

How to get a mortgage if you are an older borrower

Getting a mortgage can be more difficult when you get closer to retirement. Here is how to find one whether you want to move house or remortgage your current home.

HMO mortgages

If you want to buy a property to let to individual tenants you’ll need a specialist mortgage. We explain what you need to know about HMO mortgages.

How to get your first mortgage

Getting on the property ladder is much easier if you know what help is available, where to find a mortgage and how to apply for a mortgage. Here is everything you need to know about how to get a mortgage and buy your first home.

How much does it cost to buy a home?

Your home could be the most expensive purchase you ever make. Here is how much you might spend and how to make sure you can afford a mortgage and all of the other costs.

Joint-borrower-sole-proprietor mortgage

If you’re struggling to get onto the property ladder, we look at one way to make getting a mortgage easier without some of the drawbacks of buying jointly.

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Should you get an interest only or repayment mortgage?

The two main ways to pay off your mortgage balance are interest only and repayment. Here is how to work out which best suits your finances.

Young couple among packing boxes holding coffee mugs

Should you rent or buy a home?

With average house prices and rents both rising, choosing between buying and renting can be a challenge. Renting can offer flexibility but often costs more, while buying your own home is a long-term commitment. Find out which is the best, most affordable option for you.

What does divorce mean for your mortgage?

Getting divorced or splitting up with your partner when you have an outstanding joint mortgage together can be difficult. Here are your options to make it less stressful.

Should I overpay on my mortgage?

If you have extra money to spare, you could make overpayments on your mortgage. This can reduce the amount you pay and shorten your mortgage term, but is it right for you?

How to interview your mortgage broker

We explain how to make sure your broker is both qualified and capable of finding you the best deal before they start your search for the perfect mortgage.

House model with agent and customer discussing for contract to buy

What is a guarantor mortgage?

If you are unable to buy the home you want with a normal mortgage, a guarantor could help you get accepted or borrow more. Here is how they work and how to get one.

How does Help to Buy work?

The Help to Buy scheme could make it easier for you to get your first home with help from the government. Here is how it works and how to use it.

How do offset mortgages work?

An offset mortgage is linked to your savings account and could save you money on interest. Here is how they work, who they suit and how much you could save.

Modern villa with a garden and a pool in sunny weather.

Holiday let mortgages

We look at the type of mortgage you’ll need if you want to buy a holiday home to let, including the costs involved and how to find the best deal

Inheritance tax: the basics

Inheritance tax is paid on any assets you leave to family or friends when you die, we explain what you need to know and how to avoid it altogether.

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Will changing jobs stop you getting a mortgage?

Starting a new job could make getting accepted for a mortgage more difficult - even if you'll earn more. Here's why and what you can do about it.

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Can you get a mortgage with bad credit?

You could still get a mortgage even if you have bad credit and have missed payments before if you know where to look. Here is how to get a bad credit mortgage.

Should you get a long or short term mortgage?

When you get a mortgage you have to decide how long you need to pay it all off. Here is how to work out which is cheapest and how to make sure you can afford the term you choose.

How do buy to let mortgages work?

If you want to invest in property and rent it out to someone else, you will need a buy to let mortgage. Here is everything you need to know about them.

Will I ever be able to afford a house?

You might be ready to buy your first home sooner than you think, but if you need a leg up onto the property ladder there are lots of ways you can find help. Here is how to get started before you buy and how to check you can afford it. 6

What is the Right to Buy mortgage scheme?

The Right to Buy mortgage scheme offers council tenants in England up to £84,200 (or £112,300 in London) off the market price of their council home. Here is what you need to know about the scheme.

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What insurance do you need when buying a house?

Your mortgage is likely to be the biggest expense you will face in life, but what happens if you can no longer pay it? Many people ask themselves the question: what insurance do you need for a mortgagein the UK? Here are the types of insurance that can help you pay your mortgage.

What is a bridging loan?

A bridging loan could help you buy a property while you wait for the sale of your existing home.

Should I use my savings to pay off my mortgage?

We weigh the pros and cons of using your savings to clear your mortgage.

What is interest?

Borrowing costs money. A lender will usually charge a borrower a percentage of the money lent, rather than a flat fee. This is called interest. This guide covers the basics of how interest works, what it is and what it means for your finances.

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How to get a mortgage with no deposit

Here is how to get on the property ladder as soon as possible with a 100% LTV mortgage, or how to get a no deposit mortgage. There are several schemes and mortgages that can help, whether you are saving for your first home or have owned one before.

What the new stamp duty holiday means for you

The chancellor has extended the temporary changes to stamp duty to help cut costs for anyone buying a home during the COVID-19 pandemic. Here's what it means for you.

The listing prices and mortgage repayments of some of the world’s most iconic palaces

The personal finance experts at money.co.uk have discovered the listing prices and mortgage repayments of some of the world’s most iconic palaces.

Home ownership: joint tenants or tenants in common?

This guide offers a detailed overview of different home ownership options and explains why your choice matters.

80% buy to let mortgage

If you want to invest in a property to rent out you will need a buy to let mortgage, unless you have enough money to buy it outright.

First time buyer mortgage rates

This guide explains why the size of your deposit matters and the sort of mortgage rates first-time buyers can expect to get.

What is a commercial mortgage?

Commercial mortgages are used to buy non-residential property and they are different to the mortgage you would use to buy your own home to live in.

2 Scottish houses by a road. One house has a white door and the other has a red door.

Residential mortgages

If you’re buying a home we explain how the mortgage you need works, what to be aware of and how to choose the best deal for you.

How to apply for a mortgage payment holiday

Recent research suggests that more than 2 million UK homeowners are considering taking mortgage payment holidays. But what is a mortgage payment holiday, how do you take one and what are the potential pitfalls? We explain all you need to know.

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How to find a mortgage broker you can trust

Taking out a mortgage will be one of the biggest financial commitments you'll ever make, so finding a mortgage broker that understands your needs is essential. We explain how to find a mortgage broker you can trust.

What type of mortgage is right for you?

Here is how to choose a mortgage whether you are buying your first home, moving house or remortgaging to get a better deal on your property.

What does negative equity mean for me?

Find out what negative equity means, whether it affects you and what you can do about it.

Graphic to illustrate property extensions

How much do celebrity property conversions actually cost?

An insight into how much underground tunnels and infinity swimming pools actually cost celebrities and how this can affect the long term selling price or their homes.

The make believe mortgage - how much would you have to spend to live in homes from films, TV and games?

If have you ever wondered how much it would cost to own some of tv, film and gaming's most iconic homes then wonder no more. Our new mortgage guide reveals what the cost of owning some of the most recognisable properties in the world would be...

Graphic to illustrate money.co.uk Renovation Nation Report

The 2020 Renovation Nation Report reveals which areas of their properties homeowners have been upgrading under lockdown

With lockdown restrictions keeping most of us indoors, homeowners have been busy upgrading their homes to make them more comfortable and usable while working from home. Some have used personal loans, money from their holiday fund or have remortgaged to fund the renovations.

Leasehold vs freehold: Which should you get?

If you’re looking to buy a property in England or Wales, you’ll notice that they’re either listed as leasehold or freehold. But what’s the difference? We’re here to explain the terms, and share what they might mean for you as a property owner.

How will coronavirus affect the property market?

Find out what impact COVID-19 could have on the property market and what it could mean for home buyers and sellers.

Man at desk working on laptop going over paperwork

Should you get a fixed, tracker or variable rate mortgage?

Choosing a mortgage with the right type of interest rate can save you money and make sure you get a deal you can afford. Here are the differences between fixed, variable, tracker and capped mortgages.

How to get a remortgage

Getting a new mortgage deal could cut the interest you pay and save thousands of pounds. Here is how to remortgage to a better deal, avoid fees and reduce what you pay each month.

Should you get a limited company buy to let mortgage?

As a landlord, you could invest in buy to let (BTL) properties through a limited company instead of in your own name. Here's how to find out if this could help you save money and pay less tax.

Should you risk being a guarantor for a mortgage?

Helping a friend or family member get their foot on the property ladder can be a rewarding and generous undertaking - but fail to weigh up the consequences and you could soon regret your choice. Here's what you need to consider before signing anything.