Interest rates have a direct correlation to the level of monthly payment. In simple terms; the higher the interest rate, the higher the monthly payment. The lower the interest rate, the lower the monthly payments.

It is possible to purchase a property with as little as a 5% deposit and up to any level that is affordable to you. It is important to note that the size of the deposit does impact on the loan to value you qualify for and in turn the interest bracket e.g. 95% mortgage will have the higher interest rates and sub 50% mortgages will have the lowest interest rates. The brackets tend to reduce in 5 or 10% increments.

Yes. Lenders use your credit history to determine if you are a reliable borrower and able to meet the repayments. It can be possible to obtain a mortgage with bad or adverse credit history, but each lender will set their own parameters on what can be accepted, it is not a blanket rule across the market.

When purchasing a property, there are several upfront costs to be aware of, including: * Stamp Duty * Solicitor/Conveyancing costs * Fees incurred when selling (estate agent fees) * Broker fees (if using a broker) * Lender fees e.g. product fee, administration fee * Survey/valuation fees * Moving costs * Furnishings

The monthly payment will be dependent on a combination of factors: size of mortgage, term, interest rate and repayment type.

Yes, parental gifts are accepted as a source of deposit. Parents will need to provide a gifted deposit letter confirming the gift details to meet the lender & solicitor requirements.

Payable within 14 days of a property purchase, although this is usually paid as part of the completion process.

An early repayment charge is penalty paid to your lender if repaying the mortgage whilst tied to a mortgage product and existing the deal early. It can also be incurred if you are overpaying more than the allowable overpayment limits.

Yes, a solicitor is required for a property purchase/sale and re-mortgage.

The application process typically takes 4-6 weeks from point of application to having a mortgage offer in place.

This providers confirmation from the lender on how much you are able to borrow, based on you income, expenditure and credit profile. This is not a guarantee and is subject to full underwriting assessment.

Each lender set their own lending criteria, therefore you may not qualify with one lender but do with another. It is important to review the whole of the market to ensure you are applying to the most appropriate lender.

* Critical illnesses are a lot more common than a lot of people believe and can affect anyone at any time. A number of critical illnesses are now being diagnosed at a younger age * State benefits only offer a limited amount and legally your employer only has to support you for the first 28 weeks. Whether or not you receive full pay is at your employer’s discretion * Critical illness cover is designed to help you or your family manage during this difficult time

Life Insurance helps to protect your loved ones financially in the event of your death. You chose the amount of cover you need and the length of time you want to be insured.

* 32% of households have no savings putting them at considerable risk if illness prevented the breadwinners from working. * You think it won’t happen to you, but if it did, how long could you afford to pay for everything such as your mortgage or rental payments, household bills, children’s school fees, mobile phone, and broadband payments. Bills don’t stop even if you are very sick. * Income protection can provide you with a regular monthly income if you suffer a loss of earnings due to ill health or injury and as a result are unable to work.

* Mortgage life insurance is designed to help pay off your outstanding mortgage amount in the event of your death * If you die during the period of your cover, your policy pays out your chosen amount of cover. You choose the amount of cover you need and the length of time you want to be insured for