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Mortgage guidance
Buying a Home
Straightforward mortgage guidance for your next move, from first enquiry to getting the keys.
Buying a home with clearer next steps.
Buying a home is one of the biggest financial decisions you will make, whether you are purchasing your first property or moving to your forever home. With mortgage products, lenders and costs to consider, it can feel overwhelming.
At Anderson Reed Financial Services, we believe mortgage advice should be straightforward, honest and tailored to your circumstances. We will help you understand the options available through our extensive lender panel and guide you from your initial enquiry through to getting the keys to your new home.
Whether you are buying your first home, moving house or simply exploring what may be possible, we are here to help.
Planning your purchase
How much can I borrow?
One of the first questions most buyers ask is: “How much can I borrow?” The answer depends on your income, monthly commitments, existing credit commitments, deposit, credit history and employment status. Every lender uses different affordability criteria, so borrowing limits can vary significantly.
Rather than relying on a rough estimate, we will consider your circumstances and help identify lenders that may be suited to you.
Ready for the next step?
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Discuss your circumstances and receive clear guidance on the options available to you.
Contact usYour budget
Understanding your monthly payments
Finding a mortgage is not simply about borrowing the maximum amount. It is about finding an option that is affordable today and remains comfortable if your circumstances change in the future.
When comparing options, it is worth considering:
- Monthly repayments and the mortgage term
- Interest rates, including fixed and variable options
- Product and arrangement fees
- Early repayment charges
Our mortgage repayment calculator can give you an initial idea of possible repayments before you speak to us.
Buying costs
Do not forget the additional costs
Many buyers focus on the deposit, but there are other costs involved in buying a home. Understanding these early helps you budget more accurately and avoid unexpected surprises.
- Stamp Duty Land Tax
- Solicitor's fees and property searches
- Survey fees
- Mortgage arrangement fees
- Removal costs and buildings insurance
Your deposit
What deposit do I need?
The size of your deposit affects the lenders and mortgage products that may be available to you, the interest rates you may qualify for and your monthly repayments. A 5% deposit may be enough for some buyers, but a larger deposit can often open up a wider range of mortgage options. We will explain the choices based on your individual circumstances.
From enquiry to completion
The mortgage process
Buying a home does not need to be confusing. While every case is different, the journey will typically include:
- 1 Initial conversation
- 2 Budget and affordability assessment
- 3 Mortgage recommendation
- 4 Agreement in Principle
- 5 Property offer accepted and full mortgage application
- 6 Valuation and mortgage offer
- 7 Exchange of contracts and completion
We will keep you informed throughout each stage.
Why use a mortgage adviser?
Comparison websites only show part of the picture. A mortgage adviser can help explain lender criteria, identify options suited to your circumstances, manage paperwork and liaise with solicitors and estate agents. Having someone in your corner can make the process feel considerably less stressful.
Common questions
Frequently asked questions
How much deposit do I need?
The deposit needed depends on the lender, the property and your circumstances. Some mortgages may be available with a 5% deposit, while a larger deposit can provide access to a wider choice of products and potentially lower rates. Your deposit must also sit alongside the costs of buying the property, so it is useful to look at the whole budget before you start viewing homes.
How long does a mortgage application take?
Timescales vary depending on the lender, how quickly documents are provided and whether the property valuation or legal work identifies anything that needs further attention. Once a full application is submitted, the process can take several weeks. Starting with a clear view of your income, deposit and paperwork helps the application progress more smoothly.
What credit score do I need?
There is no single credit score required for every mortgage. Lenders assess credit information differently and will also consider affordability, deposit, employment and the details within your credit history. A lower score does not always mean a mortgage is unavailable, but it may affect the options and rates that could be offered.
Can I get a mortgage if I am self-employed?
Many self-employed applicants can obtain a mortgage. Lenders will usually want evidence of your income, which may include accounts, tax calculations and bank statements. Requirements vary, particularly if your income has changed recently or you are a company director. We can help you understand the information a lender may need.
How much are solicitor fees?
Solicitor and conveyancing fees vary by firm, property price and the complexity of the transaction. Your quote may include legal work, searches, Land Registry fees and other disbursements. Ask for a clear breakdown so you can compare like-for-like quotes and understand which costs may be payable before completion.
What is an Agreement in Principle?
An Agreement in Principle is an indication from a lender of how much it may be prepared to lend, subject to a full application, valuation and checks. Estate agents often ask to see one when you make an offer. It is not a mortgage offer and does not guarantee that a later application will be accepted.
What happens after my offer is accepted?
After your offer is accepted, you appoint a solicitor, submit the full mortgage application and arrange for the lender to value the property. Your solicitor carries out the legal work and searches. Once your mortgage offer is issued and everyone is ready, contracts are exchanged and a completion date is agreed.
Ready to take the first step?
Whether you have found your dream home or are just beginning to explore your options, we would love to help.
Mortgage information
The information given in this website does not contain all of the details you need to choose a mortgage. Make sure that you read the separate key facts illustration before you make a decision. The FCA does not regulate some forms of buy to let mortgages.
It is our intention to provide you with a high level of customer service at all times. If there is an occasion when we do not meet these standards and you wish to register a complaint, please write to: Compliance Department, Connect IFA Ltd, 39 Station Lane, Hornchurch, RM12 6JL or call: 01708 676110. If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.
Anderson Reed Financial Services Ltd is entered on the Financial Services Register under firm reference number 947349. Registered in England and Wales under number 13190705. Calls may be recorded for training and monitoring.