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Develop and expand your buy-to-let portfolio.

Understand the new build property market.

Secure your new home, whether you’re a first-time buyer, looking to move or invest in a second property.

Understand equity release and how it might work for you in later life.

Finding you the right mortgage

Whether you are a first-time buyer, moving home or simply wishing to take advantage of a more competitive rate, finding the right mortgage solution is paramount.

What options are available?

The products on offer from lenders are always changing. Fairstone’s mortgage experts understand the complex property market and have the experience needed to identify trends and navigate any difficulties that could arise, ensuring you get the product that is right for you.

What do you need to prepare?

When applying for a mortgage, you will need to provide a number of documents to support your application. These might include:

  • Proof of identity (passport or driving licence)
  • Proof of address (such as utility bills)
  • Details of your occupation and income
  • Your deposit amount
  • Details of any current existing mortgages you have (including buy to lets)
  • Details of any other financial commitments such as car loans, bank loans, credit cards etc

 

If you’re considering applying for a mortgage in the near future, it would be a good idea to start collating these documents in preparation.

Download Our
Mortgage Advice
Guide

Helping you to understand:  


  • What you need to prepare
  • How you should protect your property
  • The benefits of receiving mortgage advice

Download Guide

Mortgage advice - your key questions, answered

How do I repay a mortgage?

You have two options; a repayment mortgage or an interest only mortgage.

With a repayment mortgage you repay both the capital and the interest together in fixed instalments over an agreed period of time. Provided you keep up your repayments, your entire mortgage will be repaid at the end of the term.

With an interest-only mortgage, you pay the interest due but none of the amount you have borrowed. While your repayments will be less than an equivalent-sized repayment mortgage, at the end of the term you still owe the original amount that you borrowed. The remaining capital will be repaid under the conditions outlined by the mortgage lender. You should be aware that very few lenders now offer interest-only mortgages.

How will my mortgage interest rate be set?

You will need to make a decision on which type of interest rate is going to work best for you. Mortgage interest rates fall into two main categories; fixed-rate and variable rate, although there are a number of variations within each of these categories.

A fixed rate mortgage is set for a particular period of time and the interest you are charged will stay the same throughout the deal.

With a variable rate mortgage, your interest rate can change at any time. This means your payments could rise or fall as interest rates fluctuate.

How do you get a mortgage for new homes?

New build properties can be attractive for many reasons; however, it is important to remember that when it comes to applying for a mortgage, lenders apply different loan criteria than they do when lending against established properties.

House builders sometimes have special incentives and these can look like great deals – but you must use a lender who will accept them.

Fairstone specialises in mortgages for new build properties. We have long-term relationships with many of the UK’s largest house builders and the expertise to help you navigate their incentives and offers.

Our team of experienced mortgage advisers understand that only certain lenders will accept mortgage applications for new build properties and will ensure that you only apply to appropriate lenders, saving you time and helping you to secure your new home.

What information do you need to apply for a mortgage?

In order to assess your requirements and provide you with indicative mortgage costs, our adviser will need the following:

  • Full names and three years address history
  • Details of your occupation and income (latest two years income figures if self employed)
  • Your deposit amount
  • Details of any current existing mortgages you have (including buy to lets)
  • Details of any other financial commitments such as car loans, bank loans, credit cards etc
  • Details of the property you would like to purchase including purchase price, accommodation and anticipated build completion date.

Do I need to protect my property?

A mortgage is the biggest financial commitment most of us make in our lifetimes and it is vital that you are protected should the unexpected happen.

Fairstone’s specialist protection advisers can help you choose a comprehensive protection package that’s right for you and your family.

We can help you ensure that, should the worst happen, your home and possessions are protected and you can still meet your mortgage payments.

This could include:

  • Buildings and contents insurance
  • Life cover
  • Critical illness cover
  • Cover for long-term sickness

Matching you with the right local adviser for your needs

We have over 650 local advisers specialising in investment advice all the way through to retirement planning.

Provide some basic details through our quick and easy to use online tool, and we’ll provide you with the perfect match.

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steps

Simple, online and personal. Provide some details and let us do the rest!

  • 1 Tell us about your financial goals
  • 2 Tell us about yourself
  • 3 We'll get in touch to match you to an adviser