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It's always crucial to speak with a company like UK Moneyman.
We offer a truly holistic over 50s lending approach.
Understand how to build & release equity through remortgaging, whether it's home improvements, debt consolidation, or retirement planning.
All mortgage offers are valid for a fixed amount of time. Typically, they will last between 3 - 6 months, depending on the lender.
What mortgage can I afford? ... The most you can borrow is usually capped at four-and-a-half times your annual income.
You usually need a large deposit to get a mortgage and buy a home – typically at least 5% of the property's value.
There isn't a specific credit score that you need, but the higher your score the more likely your mortgage application will be accepted.
Repayments are calculated using the size of your mortgage, the interest rate from your lender, and the term of your contract.
After having an offer accepted on a property and applying for a mortgage, on average it can take weeks to get a mortgage approved.
Which mortgage type could be the best option for you? Here's our quick guide to the different types of mortgages, with their pros and cons.
A lifetime mortgage is a type of equity release, secured against your home to allow you to release tax-free cash without needing to move out.