Residential Mortgages: Making Your Dream Home a Reality

Mortgage approval depends on various factors like credit score, income, and debt. Lenders assess your financial profile and then decide whether to accept you along with which product would be suitable. 

The mortgage application involves several steps: initial discussion with a broker, decision in principle, documentation submission and full application, property valuation and then completion.

The amount you can borrow varies depending on factors such as the value of property you are buying, size of deposit and financial profile including income, credit commitments and credit score.

The larger deposit you have means the smaller mortgage loan you will require. First-time buyers can, for example, purchase with a 5% deposit however 10%-25% is more typical. You may be able to access lower rates if you have a larger deposit.

The amount depends on rental income, property value, and your financial status. Lenders typically calculate loan eligibility based on these factors, ensuring sustainable repayments.

Yes, interest rates are often higher for buy-to-let loans. Lenders perceive rental properties as higher risk. However, favorable rates might be secured with a substantial deposit and strong financial credentials.

Generally, no. Buy-to-let mortgages are designed for investment properties. Living in a property financed by a buy-to-let mortgage could breach the terms of the loan.

Tax rules vary, but rental income is usually taxable. Mortgage interest relief has changed, so it's crucial to understand tax implications and consider seeking advice from a financial professional.

Equity release may reduce the inheritance you leave. It's crucial to understand implications and discuss options with family members before proceeding.

Yes, many later life lending plans allow you to move, but specific terms apply. Seek advice to explore portability options and potential impacts on the loan.

Equity release is a regulated product and has a built in no negative equity guarantee meaning you will never owe more than your house is worth.

Yes, some plans consider health factors. Poor health may result in more favorable terms. Consult with experts to explore options tailored to your individual circumstances.

Bridging loans can be secured swiftly, often within a few days. The process is expedited, making it ideal for time-sensitive property transactions or urgent financial needs.

Interest rates vary but are typically higher than traditional loans due to the short-term nature and quick availability. Rates depend on the lender and your financial profile.

While commonly used in property transactions, bridging finance can be versatile. It can be used for various purposes, such as business needs or renovations, depending on the lender's policies.

If you can't repay on time, options may include refinancing, extending the loan, or selling the property. Communication with the lender is key to exploring suitable solutions.

Income protection ensures financial security if you're unable to work due to illness or injury. It provides a regular income, easing financial strain during recovery periods.

Premiums are calculated based on factors like property value, contents worth, location, and personal details. Customized quotes consider specific risks and coverage requirements for comprehensive protection.

Yes, income protection is crucial for self-employed individuals. It provides a safety net, covering lost earnings during periods of incapacity, offering financial stability for those without employee benefits.

Yes, exclusions may include deliberate damage, wear and tear, and certain high-risk activities. It's vital to review policy terms carefully and choose coverage aligned with your specific needs.