Question 1

How much deposit do I need for a mortgage?

Accepted Answer

Deposit requirements vary by lender and product. In some cases, a minimum deposit may be accepted, but a larger deposit can provide access to a wider range of mortgage options.

Question 2

Is it possible to get a mortgage with a poor credit history?

Accepted Answer

Some lenders consider applications from customers with previous credit issues. Acceptance depends on factors such as the type, severity, and timing of any credit problems, as well as overall affordability.

Question 3

Do mortgage lenders use a specific credit score?

Accepted Answer

Mortgage lenders do not rely on a single credit score. Instead, they assess your overall credit profile, including payment history, existing commitments, and financial stability.

Question 4

What is the difference between a fixed-rate and a variable-rate mortgage?

Accepted Answer

A fixed-rate mortgage has an interest rate that remains the same for a set period. A variable-rate mortgage can change over time, which may result in higher or lower monthly payments.

Question 5

Can I remortgage before my current deal ends?

Accepted Answer

In some cases, it may be possible to remortgage before an existing deal ends. Early repayment charges or other fees may apply, depending on your current mortgage terms.

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