Residential Mortgage

A residential mortgage is a loan that can be used to buy a home. Mortgagees must use the property as their primary residence. You won’t be allowed to rent the property out to tenants or for commercial purposes.

First-time buyers, as well as those who are looking to remortgage their homes, can apply for residential mortgages. A bank or building society will lend you money that you can use to buy your home. The mortgage loan will be repaid in monthly instalments over a set term, plus additional interest.

Your home is secured by residential mortgages. If you fail to make your monthly payments, your lender can legally take possession of your home. This could mean that you are forced to sell your house in order to repay the lender, but it is rarely the last resort.

The largest and most popular form of credit in the UK is residential mortgages. They allow millions to purchase their homes.

The Office for National Statistics reported that the UK’s average house price was PS270,000 in September 2021. However, there are large regional variations. In London, it was hugely PS507,000.

You will need to borrow money to buy any property you want, regardless of how much you have saved. A residential mortgage is an answer.


Dependent Relative Mortgage Guide: Options, Affordability & FAQs

By |2024-05-15T12:13:58+00:00May 14, 2024|Mortgages, Non Standard Residency Mortgages|

Mortgage for Dependent Relative Each month, we assist numerous clients who are looking for a mortgage for a dependent relative. This need arises [...]

Buying Out Sibling from Inherited House: Mortgages & Other Options

By |2024-02-14T08:17:34+00:00February 14, 2024|Financial Advice, Knowledge Mortgages, Mortgages, Mortgages for Different Properties, Using a Broker|

Losing someone close to you is really tough, and it makes things like dealing with house and money matters even harder. When you and [...]

Expat Residential Mortgage UK: Get Approved with a Foreign Income

By |2023-11-09T13:07:47+00:00November 9, 2023|Knowledge Mortgages, Loan to Values / Deposits, Mortgages, Mortgages for Different Occupations / Income Types, Mortgages for Different Properties, Non Standard Residency Mortgages|

In today's interconnected world, many UK nationals are venturing abroad for work, education, or personal reasons. This growing expat community faces unique challenges [...]

Let to Buy Mortgages: How to Get Started

By |2023-08-09T13:29:59+00:00August 7, 2023|Investment BTL Mortgages, Knowledge Mortgages, Mortgages for Different Properties|

You have found your next dream home but you don’t want to be stuck in a chain waiting to find a buyer to sell your current home. You are interested in becoming a landlord or wish to own more than one property.

Mortgages and Japanese knotweed and other invasive plants

By |2023-06-12T08:25:03+00:00June 10, 2023|Knowledge Mortgages, Mortgages for Different Properties|

Mortgages with Japanese knotweed  Getting a mortgage with a Japanese knotweed plant on the property is not easy because of many reasons. Most mortgage [...]

Comments Off on Mortgages and Japanese knotweed and other invasive plants

The Complete Guide for Raising a Deposit as a First-Time Buyer

By |2023-04-04T09:05:36+00:00April 4, 2023|First Time Buyer Mortgages, Knowledge Mortgages, Loan to Values / Deposits, Mortgages|

For all the doom and gloom you may have read about the difficulties of first-time buyers getting onto the property ladder, there is evidence [...]

How to change names on transfer of equity remortgage?

By |2023-09-26T10:01:34+00:00March 27, 2023|Mortgage Ownership Equity Transfers, Mortgages, Remortgages|

What is a transfer of equity remortgage? In that process of adding or removing names – and whether any money changes hands or not [...]

Renovation Mortgage UK: What You Need to Know

By |2023-03-24T13:51:17+00:00March 24, 2023|Financial Advice, Knowledge Mortgages, Mortgages, Mortgages for Different Properties, Property Types, Remortgages|

Getting a Mortgage Renovation Property Project Getting a renovation mortgage is becoming more complicated as banks tighten their lending criteria and the government has [...]

Mortgage With Pre-Settled Status: Everything You Need to Know

By |2023-10-31T09:56:47+00:00January 29, 2023|Mortgage Process, Mortgages, Non Standard Residency Mortgages|

Regardless of whether you are a non-EU or EU citizen, getting a mortgage in the UK as a non-UK citizen is extremely tricky. [...]

Go to Top