We’ll find the right mortgage for you

A mortgage is likely to be the biggest financial commitment you’ll take out in your lifetime – so getting the best rates available could save you thousands of pounds. To find out exactly how much you could save, get an obligation-free quote now with a nominal amount of information. Our expert team of advisers are here to find the best deals to suit your options and provide peace of mind when you’re looking to move home. We will advise you about everything from interest rates to the duration of the loan. Helping you borrow both comfortably and responsibly.

There is no set length of how long it takes to get a mortgage. Each stage involved can take a different amount of time, depending on your personal circumstances, including your lender and if the person you’re buying the house from is ready to move into their new home. Some lenders may take longer than others to approve mortgage applications. Often, it’s a good idea to get a mortgage in principle first, so you know what your budget is when looking for a property. Having this can also make the process smoother when it comes to taking out the mortgage.

At Fluent Money, we’ll deal with the lenders and paperwork to make sure your mortgage application is filed as quickly and smoothly as possible.

A mortgage in principle is a statement from your lender to confirm how much they will be able to lend you. Many people wanting to buy properties start by approaching lenders for a mortgage in principle , as then you have a better idea of   your price range. To apply for a mortgage in principle many lenders will request your passport, between 3 to 6 months’ worth of bank statements and proof of your income.

At Fluent Money, we strive to present you with the best options for your personal circumstances ensuring responsible borrowing. If due to personal circumstances you currently have a lower credit score, we are committed to finding you a mortgage that takes into account your current financial situation. With a lower credit score you may experience higher interest rates than other borrowers and many lenders won’t penalise people with poor credit but will require more security. Want to find out more? Get in touch and one of our expert mortgage advisers can help.

The amount of money you can borrow will depend on your annual income and the loan to value (LTV) of your home. In average circumstances, most lenders will loan up to 3.5 times your salary. As an example, someone searching to take out a single mortgage with a salary of  £30,000 per year, could borrow up to value of £105,000. Whereas individuals applying for a joint mortgage could be able to borrow up to 4 – 6 times their combined salary.                    

Mortgage length is dependent upon age, your income and how much money you need to borrow. In most circumstances lenders aim to not have the mortgage length extend beyond retirement age. The length is affected by the circumstances of the applicant for the suitability of the product. For example an applicant who is 50 in most circumstances won’t  wouldn’t be offered a 50 year mortgage. At Fluent, our strong partnerships with lenders allow us to carefully select and present our customers with a variety of mortgage options, We can offer mortgages from 5 – 35 years.

Depending on the lender, there are numerous options available to you in the case of early repayment. The most common option for repayment which you will experience is the early repayment charge (ERC). This is common in the mortgage market as if you repay your mortgage early, the lender won’t receive the full amount of interest which was agreed upon when the mortgage was taken out. Other common options are overpayments on your monthly repayment, or even full repayment with no additional fees. It is really dependent upon your lender.