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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. From our headquarters in Southampton, 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. You can explore an initial income-based illustration with our How Much Could I Borrow? calculator.
Rather than relying on a rough estimate, we will consider your circumstances and help identify lenders that may be suited to you. If you are planning to buy a home with previous credit issues or after completing a formal arrangement, read our guides on bad credit mortgages, getting a mortgage after an IVA and mortgages after bankruptcy.
Ready for the next step?
Speak to an adviser
Discuss your circumstances and receive clear guidance on the options available to you.
Get startedYour 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
See our dedicated Buying & Moving Costs Guide for an itemised schedule of upfront fees, leasehold supplements, and worked total-cash examples.
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, and eligible first-time buyers may also be able to consider £5,000 deposit mortgages where criteria and total buying costs are met. However, a larger deposit can often open up a wider range of mortgage options. Read our First Time Buyer guide or speak with us to explore the choices based on your individual circumstances.
Energy-Efficient Homes & Retrofit Guidance
Reviewed 25 October 2026 by Nigel Kent, CeMAP • Next review: 25 January 2027
Buying an energy-efficient home vs. borrowing to improve an older property
If you are comparing a modern energy-efficient property with an older home that needs insulation, glazing, solar, or heating upgrades, mortgage lenders treat the two situations differently:
- Buying a home that already has an EPC rating of A or B: Selected lenders offer modest interest-rate reductions or cashback on properties with a valid, officially registered EPC A or B certificate (for example, NatWest’s Green Mortgages up to 85% LTV for residential purchases, checked October 2026). Predicted Energy Assessments (PEAs) or anticipated post-renovation ratings are normally not accepted, and you should not assume all EPC A–C properties or new-builds automatically qualify.
- Borrowing after purchase to fund energy-efficiency improvements: Some lenders offer dedicated retrofit further advances solely to their existing residential mortgage customers once the mortgage is active (for example, Nationwide’s 0% Green Additional Borrowing of £5,000 to £20,000 over 2 or 5 years up to 90% LTV for qualifying upgrades, checked October 2026).
- Compare total borrowing cost first: A green-labelled product is not automatically the lowest-cost mortgage. Always compare the total amount payable—including arrangement fees, LTV caps, cashback conditions, and revert rates—against standard whole-of-market products, and never rely on assumed energy-bill savings or property-value increases. See our detailed green remortgage & retrofit guide or speak to an adviser for a tailored comparison.
Existing homeowners
Moving home: Can I keep my current mortgage?
If you already own a home and are planning your next move, you do not necessarily have to give up your existing mortgage deal. Many homeowners ask whether they can transfer their current mortgage rate to a new property — a process known as porting.
What is mortgage porting?
Porting means taking your current mortgage interest rate and product terms from your present home to your new property. If you have secured a competitive fixed rate with substantial early repayment charges (ERCs), porting can potentially protect your rate and avoid thousands of pounds in exit penalties.
Porting is not guaranteed
Even if your mortgage contract states your product is portable, porting is never automatic. You must submit a fresh mortgage application. Your lender will fully reassess your income, living outgoings, employment status, credit profile and the valuation and construction of the new property under their current lending criteria.
Timing and completion gaps
Ideally, your sale and purchase complete simultaneously on the same day. If there is a delay or broken chain, some lenders provide a grace window (often 30 to 90 days) where you pay the early repayment charge on completion of your sale, and the lender refunds it if you complete on your new home within that period. Policies vary between lenders.
Borrowing more or downsizing
When moving home, your borrowing needs rarely match your exact existing balance:
- Upsizing (borrowing more): If your new property costs more, the extra borrowing is arranged as an additional loan part (sub-account) with your existing lender. This top-up is priced on the lender's current interest rates, meaning you may have two loan parts with different rates and end dates.
- Downsizing (borrowing less): If your new property requires a smaller mortgage, you repay part of the balance. If you are still within a fixed promotional period, the lender may charge an Early Repayment Charge on the portion of the mortgage you pay off early.
Porting vs switching to a new lender
Porting is not always the most cost-effective choice. If your current deal is coming to an end, if exit charges are modest, or if your existing lender's rates on additional borrowing are uncompetitive, taking a fresh mortgage across the entire borrowing amount with a new lender may be cheaper overall.
Independent home-mover review
What Anderson Reed reviews for you
As independent mortgage advisers, we compare the total cost of all viable pathways before you commit:
- ✓ Current deal terms: We review your existing interest rate, expiry date, and exact ERC penalty schedule.
- ✓ Blended cost comparison: We calculate the combined blended rate of your ported mortgage plus any top-up loan, versus a single replacement mortgage from the wider market.
- ✓ Moving timetable & chain risks: We check your lender's porting completion rules and grace periods in case of property chain delays.
- ✓ Changed circumstances: We ensure your income and profile still align with lender stress testing and criteria.
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.
Tailor your preparation checklist
Printable Preparation Checklist
No email or document upload required
Home Mover & Porting Preparation Checklist
Moving house involves reviewing both your existing mortgage contract and the affordability of your onward purchase.
0 / 5 ready
When to prepare:
Before listing your current home or making an offer on your next property.
Important guidance note: This checklist is a practical preparation guide and not a mortgage application, eligibility decision, or pre-approval. Actual document requirements vary by lender, property type, and individual circumstances. Your ticks stay in this browser tab only and are never stored on our servers—do not upload or email sensitive documents until your adviser requests them through a secure channel.
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.
Can I take my existing mortgage with me when I move home?
Most residential mortgages are portable, meaning you can apply to transfer your existing interest rate and terms to a new property. However, porting is not automatic or guaranteed. Your lender will require a new mortgage application and will reassess your income, affordability, credit profile and the suitability of the new property before approving the transfer.
What happens if I need to borrow more money when moving house?
If your new property requires a larger mortgage than your current balance, the additional borrowing is usually arranged as a separate loan part with your existing lender, subject to affordability. This additional slice will typically be on the lender's current interest rates and may have a different fixed-rate end date to your main mortgage. Alternatively, an adviser can compare whether remortgaging the entire amount with a new lender could be more cost-effective overall.
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.
Editorial provenance & source verification
Time-sensitive guidance
How this financial guidance is written, reviewed and kept accurate
Prepared by Anderson Reed Editorial Team and reviewed by Nigel Kent (CeMAP Qualified Adviser, Mortgage and Protection Adviser). Last substantive review: .
Scope checked: Porting an existing mortgage vs remortgaging, England/NI exchange of contracts vs Scottish conclusion of missives, and green home-mover considerations. Scheduled internal accuracy checks do not alter our published review date unless a material update to rules, rates or guidance is approved and published.
Primary official sources & regulatory references
- Stamp Duty Land Tax: Residential Property Rates Source: HM Revenue & Customs (GOV.UK)
- Buying and Selling a Home in Scotland (Missives & Home Report) Source: Law Society of Scotland
- Scottish EPC Register & Home Energy Scotland Source: Scottish Government
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 and Anderson Reed Financial Services are trading names of Anderson Reed Financial Services Ltd, an Appointed Representative of Connect IFA Ltd, which is authorised and regulated by the Financial Conduct Authority (Firm Reference Number 441505) and 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.