Yes, you can usually adjust your mortgage terms later, but it depends on your current deal and your lender’s policies.

Common changes include adjusting the repayment period (making it longer or shorter) or asking for a payment holiday.

If you want to change your interest rate product (e.g., from a fixed rate to a tracker), you would need to remortgage or do a Product Transfer. Keep in mind that making major changes may incur fees or penalties, especially if you are still within an initial fixed-rate period.

We can help you explore all of these options and calculate any potential costs.

If you miss a payment, it’s crucial to contact your lender immediately. They may have options available to help you avoid penalties. We recommend proactive communication to address any concerns.

Yes, it is absolutely possible to get a mortgage even if you have a poor credit history or have experienced financial difficulty in the past.

While high-street banks may decline applications with adverse credit (such as missed payments, CCJs, or defaults), a whole market of specialist lenders exists specifically to help people in this situation. The options may be more limited, and the interest rates are often higher initially, but we specialise in matching clients with these flexible lenders.

We will work closely with you to understand your specific credit situation and find a viable mortgage solution that fits your needs.

Yes, there can be fees associated with closing or ending a mortgage, but they depend entirely on when and why you are closing the account.

The two main types of “closing fees” you need to be aware of are:

1. Mortgage Exit Fee (or Redemption Fee):

• This is a relatively small, fixed administrative charge (typically£50 to £300) charged by the lender to formally close your account, release their charge on your property, and send you the final paperwork.
• It is payable regardless of when you close your account—either at the end of the full mortgage term or if you pay off the loan early.

2. Early Repayment Charge (ERC):

• This is the most significant fee and is charged if you pay off your mortgage, remortgage to a new lender, or overpay by more than your limitbefore your initial deal term ends (e.g., within a 5-year fixed rate period).
• The ERC is usually a percentage of the outstanding loan balance (commonly between1% and 5%), which can amount to thousands of pounds.
• If you wait until your fixed or discounted rate term has expired (and are on the lender’s Standard Variable Rate/SVR), you typically avoid this charge.

We will calculate all potential exit and repayment charges for you before we recommend switching a deal or paying off your loan, ensuring that you save money overall.

Absolutely! Getting pre-approved can give you a clear idea of your budget and streamline the home-buying process. We can assist you through the pre-approval process to ensure you’re ready.

Interest rates are the cost of borrowing money, expressed as a percentage. They can be fixed or variable, and they can fluctuate based on market conditions. Our advisors can explain how this applies to your mortgage.