HTG Mortgages
Mortgage FAQs
Common Mortgage Questions Answered
At HTG Mortgages, our team offers expert mortgage and protection advice to customers across the UK. With access to thousands of mortgages from over 100 lenders, we are committed to finding the perfect mortgage for you.
First Time Buyer
Freehold means you own the home and land. Leasehold means you own the property for a set number of years, but not the land.
Yes — joint mortgages are common for couples, friends or family members.
Keep your credit score healthy, reduce debts, and avoid taking out new loans before applying.
There isn’t a single set number you need to get approved for a mortgage, as every lender has their own criteria. In general, the higher your credit score, the better your chances of securing a mortgage with a lower interest rate. A good score shows lenders that you’re reliable with repayments. If your score is lower, you may still be approved, but you might face higher costs or fewer options.
It means your payments stay the same for a set time — usually 2, 3 or 5 years.
A fixed-rate mortgage keeps your interest rate the same for a set number of years, which means your monthly payments stay predictable. A variable rate mortgage can change over time depending on the lender’s standard variable rate or wider market conditions.
It’s the length of time you’ll repay your mortgage — usually 25 to 35 years.
Yes, you’ll need a conveyancer or solicitor to handle the legal side of your purchase.
Yes, some lenders are more flexible than others — we can help find one that suits you.
Yes, there are 95% mortgages available, meaning you only need a 5% deposit.
Most lenders ask for at least a 5% deposit, but a bigger deposit can get you better rates.
A first-time buyer is someone who has never owned a home or had a mortgage before.
You’ll need to budget for your deposit, solicitor fees, mortgage fees, surveys, and possibly Stamp Duty.
Most first-time buyers do get relief up to a set amount by the government. Best to check the current rates at https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#!/intro
It’s a document from a lender showing how much they might let you borrow. It helps show estate agents you’re serious.
This depends on your income, outgoings, credit history and the lender’s criteria.
That depends on your circumstances — a broker can help you choose between fixed, variable, tracker and more.
Yes — brokers like HTG Mortgages search the whole market to find the best deal for your situation.
It usually takes a few weeks from application to offer, but this can vary.
Schemes like Shared Ownership and Deposit Unlock can help — we’ll guide you through your options. These options do expire.
Your solicitor will carry out searches, exchange contracts, and arrange a completion date — then you get your keys!
Absolutely! Just get in touch with HTG Mortgages — we’re here to guide you every step of the way.
To get pre-approved, you’ll usually need to share details of your income, outgoings, debts, and credit history with a lender or broker. They’ll review your finances and confirm how much they’re likely to lend you.
Buying Your Next Home
Absolutely! Knowing your budget helps you view the right properties and puts you in a stronger position when offering.
Your solicitor will carry out searches, exchange contracts, and arrange a completion date — then you get your keys!
This is known as a property chain — timing and planning are key, and we can help guide you through it.
Yes, if you can afford both, you may be able to let your current home and buy another — known as let-to-buy.
Yes, unless you’re buying under the tax threshold — we can help calculate exactly how much you’ll pay.
Usually yes, but some people port their existing mortgage. A broker can help find the best route.
Porting means transferring your existing mortgage to a new property. Not all mortgages allow this — we can help check.
Yes, many movers use the equity built up in their home towards the deposit on their next property.
Yes, you can get a mortgage in principle, and some lenders offer options like bridging loans or let-to-buy.
It depends on your income, credit history, current mortgage, and any debts or outgoings you have.
Absolutely! Just get in touch with HTG Mortgages — we’re here to guide you every step of the way.
Switching mortgage lenders is often called remortgaging. You’ll apply with a new lender, who will assess your finances just like your first application. If approved, they’ll pay off your current mortgage and replace it with their product.
Remortgaging
Remortgaging means switching your existing mortgage to a new deal, either with your current lender or a different one. It can help you get a better interest rate, release equity, or change your mortgage terms. Essentially, you’re replacing your old mortgage with a new one.
Most people consider remortgaging at the end of their current deal, often after a fixed or discounted period (typically 2-5 years). Doing it early can sometimes trigger early repayment charges, so timing it right is key to saving money.
It’s tougher but not impossible. Lenders will assess your current property value and your income. If your property value has dropped, you might face higher interest rates or be limited in how much you can borrow, but some specialist lenders can help.
Costs vary but can include arrangement fees, valuation fees, legal fees, and sometimes early repayment charges. Many deals come with cashback or fee-free options, so it’s important to compare the total cost to see if remortgaging makes financial sense.
Applying for a mortgage triggers a hard credit check, which can have a small temporary impact on your credit score. But if remortgaging lowers your monthly payments and you manage your mortgage well, it can improve your overall credit health over time.
Yes, remortgaging is a common way to release equity — cash tied up in your home — which you can use for home improvements, debt consolidation, or other expenses. How much you can release depends on your property’s current value and your lender’s criteria.
Yes, you’ll need a solicitor or conveyancer to handle the legal work involved in switching your mortgage. Sometimes your new lender will offer a panel solicitor as part of the deal, which can save you money.
Bad credit makes remortgaging more challenging, but not impossible. Some lenders specialise in helping people with less-than-perfect credit. It might mean higher rates or a smaller loan, but a good broker can find options tailored to your situation.
Remortgaging means changing your mortgage deal while staying in the same property. Moving home means selling your current property and buying a new one, which usually involves taking out a new mortgage rather than remortgaging.
It usually takes 4-6 weeks from application to completion, but this can vary depending on lender speed, how quickly you provide documents, and legal work. Planning ahead helps avoid any last-minute mortgage surprises.
If you want to pay off your mortgage early, you can increase your monthly payments or make lump-sum payments when possible.
A mortgage overpayment means paying more than your agreed monthly instalment.
Buy to Let
A buy-to-let mortgage is for people who want to buy a property to rent out rather than live in. The rules and rates are a bit different from residential mortgages — and that’s where we come in.
Most buy-to-let mortgages need at least a 20–25% deposit, though some lenders might accept less. The bigger your deposit, the better your choice of rates.
Yes, but it can be tricky — not all lenders are keen. We work with lenders who do accept first-time buyers, so it’s definitely possible with the right guidance.
Unlike residential mortgages, lenders mainly look at the potential rental income, not your salary. Most want the rent to cover 125–145% of the mortgage payments — we’ll help crunch the numbers.
Buying through a limited company can have tax advantages for some landlords, especially higher-rate taxpayers. But it’s not one-size-fits-all — we’ll walk you through the pros and cons. Speaking to your accountant is always the first step.
Nope — not on a buy-to-let mortgage. If you want to live there, you’d need to switch to a residential mortgage. Lenders take this seriously, so it’s best to get proper advice.
Yes, typically they are. But the difference isn’t as big as you might think — and with access to 100+ lenders, we’ll help you find the most competitive deal.
Expect things like arrangement fees, valuation fees, and legal costs. Some deals come with free legals or cashback — we’ll always show you the total cost, not just the rate.
Absolutely — and lots of landlords do to secure better rates or release equity. Whether it’s one property or a full portfolio, we’ll handle the legwork for you.
You can do either. It’s your choice — just make sure you’re on top of things like tenancy agreements, legal compliance, and safety checks if going solo. We’ve helped landlords of all shapes and sizes.
The best mortgage deals this month will depend on your personal circumstances, deposit size, and whether you’re looking at a fixed-rate mortgage or a variable-rate mortgage. Get in touch to learn more.
General
Most lenders ask for your last three months of payslips. Payslips help lenders confirm your income and check that it is stable enough to support mortgage repayments. They are usually reviewed alongside bank statements so lenders can see your salary being paid into your account. If you receive bonuses, commission, or overtime, lenders may look at a longer history to understand how regular those payments are. If you have recently changed jobs, some lenders may still consider your application if you have a permanent contract. Requirements can vary slightly between lenders, so whether remortgaging or applying as a first-time buyer, preparing your documents in advance can help make the process smoother.
Most mortgages require a deposit of at least 5% of the property price. This is the portion of the purchase price you pay upfront, while the mortgage covers the rest. For example, a £200,000 property would typically require a minimum £10,000 deposit. Although 5% mortgages are available, a larger deposit can give you access to better mortgage rates and more lender options. Deposits of 10% or more are often viewed more favourably. If you’re a first-time buyer, your deposit may come from savings, the sale of another property, or a gift from family. Lenders usually require confirmation if a deposit is gifted and proof of where the funds came from.
There is no single credit score required for a mortgage. Lenders look at your full credit history rather than just the score provided by a credit agency. Your report shows how you have managed borrowing in the past and whether repayments have been made on time. A stronger credit profile can improve your chances of approval and may help you access better mortgage rates. However, people with lower scores may still be able to get a mortgage depending on their income, deposit, and overall financial situation. Checking your credit report before applying can help you understand your position and correct any errors that might affect your application.
Most lenders allow you to borrow around four to four-and-a-half times your annual income. For example, someone earning £40,000 may be able to borrow roughly £160,000 to £180,000. This is a common guideline used by many UK lenders. However, income is not the only factor. Lenders also review your spending, existing debts, and financial commitments to assess affordability. They may also check whether you could still manage repayments if interest rates increased. If you are applying with a partner, lenders usually combine both incomes when calculating how much you could borrow. An agreement in principle can give a clearer estimate before you begin house hunting.
Your income is the main starting point when lenders assess affordability. Many lenders use income multiples to estimate borrowing limits, but they also look closely at your monthly spending. Regular commitments such as loans, credit cards, or childcare costs can affect how much you are able to borrow. Lenders also carry out affordability checks to ensure you could still manage repayments if interest rates rise in the future. Because each lender uses slightly different criteria, borrowing amounts can vary depending on where you apply. Understanding your affordability early can help you focus on properties that fit comfortably within your budget.
A mortgage application usually takes between two and six weeks. Once your application is submitted, the lender reviews your income, credit history, and affordability. They will also arrange a property valuation to confirm that the property is worth the amount you want to borrow. If everything meets the lender’s criteria, they will issue a formal mortgage offer confirming the loan amount and terms. Delays can happen if additional documents are needed or if the lender has a high number of applications to process. Having your documents ready early can help keep the process moving smoothly.
Yes, it is possible to get a mortgage if you are self-employed. Instead of payslips, lenders usually review two or three years of accounts or tax returns to understand your income. These may come from your accountant or HMRC records. Lenders want to see that your income is stable and that your business is performing consistently. They may average your earnings over several years when assessing affordability. Being self-employed does not prevent you from getting a mortgage, but you may need to provide more financial evidence. Preparing your accounts in advance can help make the process smoother.
Most mortgage applications require proof of income, identity, and address. If you are employed, lenders usually ask for recent payslips and bank statements. Self-employed applicants typically provide accounts or tax returns instead. You will also need identification, such as a passport or driving licence, along with proof of address, like a utility bill or council tax statement. Lenders also ask for evidence of your deposit so they can confirm where the money is coming from. If the deposit is a gift from family, a short letter confirming it does not need to be repaid is usually required. Preparing these documents early can help avoid delays.
Why use HTG’s mortgage services?
Available 24/7, so we are always there to help when you need us
We are an independently owned, whole-of-market mortgage broker offering first-charge mortgages
We provide unrivalled customer service, ensuring that you get the care you deserve
Speak To An Expert
Our experienced advisers are here to guide you – whether you’re buying your first home, remortgaging, or protecting your property and lifestyle. We’ll save you time, cut the hassle, and make sure you secure a competitive deal that’s right for you.