This is often the biggest step anyone will take in their life and certainly the most exciting. Its not just buying your first house, its the first time you create your own home. 

A home mover is someone who currently owns a property and is looking to relocate to a new one. If you have an existing mortgage, you may be wondering if you need to cancel it or if it’s possible to keep it. This will depend on several factors, such as your current interest rate and whether there are any early repayment fees with your current mortgage lender. Additionally, you may need to borrow extra funds to help finance your new home. This will all be discussed with you and you will be advised in accordance to your situation and circumstances.

At Thurlestone Mortgages, we know that moving can be a stressful experience, so we're here to assist you throughout the process.

 A remortgage, or refinancing, involves replacing an existing mortgage with a new one, either with the same lender or a different one. A big misconception is that the term “remortgage” often scares people as they think it only means borrowing more money. Whilst this can be a purpose of a remortgage, typically is moving your old mortgage balance to a new rate when your current deal is coming to an end.

A buy-to-let mortgage is typically used when you intend to purchase a property with the goal of renting it out for profit. You don’t have to be an existing homeowner, but banks and building societies may have certain limitations. A deposit of around 20-25% is usually required, and in some cases, a higher deposit might be necessary. The exact amount depends on how much mortgage you need and the anticipated rental income of the property. Quite often, the lender will conduct their own rental assessment, though a letter from a letting agent can help clarify the expected rent.

Shared ownership is a homebuying option that allows individuals to buy a portion of a property, typically between 25% and 75%, while renting the remaining share. This scheme is mainly aimed at first-time buyers or those with lower incomes and smaller deposits, particularly in areas with high property prices.

Securing a mortgage while self-employed can be more challenging, as lenders often have vastly varying criteria for their lending decisions. These requirements can include factors like how long you’ve been in business or the type of income proof they need. Typically lenders work off an average of the last two years tax returns, however what if you have only been trading for a year? Or your latest year is much better than your previous year? We have lenders that can take these elements into consideration.

Due to the government's push to increase housing availability, you may have observed significant development projects underway in certain areas. When it comes to new builds, the deposit required is generally slightly higher, with a typical deposit of 10% for a new house and 15% for a new flat. The housing association selling the properties on behalf of the developer will usually ask for you to exchange contracts within about a month, with completion typically scheduled for a later date, once the property construction is finished. New build homes offer various advantages, such as improved energy efficiency, modern features and overall less maintenance.

Life happens and sometimes you can’t help your situation, however that doesn’t mean you should forever out rule home ownership. Even if you have a low or poor credit rating, we are here to assist. We’ll need to understand the factors affecting your credit score, and typically, reviewing a credit report will help pinpoint these issues and place you with the right lender. We can help arrange mortgages for clients with defaults, CCJs, or more significant credit problems like past bankruptcies or IVAs. This applies to both buy-to-let and residential mortgages. 

A debt consolidation mortgage involves combining your existing unsecured debts, such as credit card balances or loans, into your mortgage balance, creating one manageable monthly payment. Lenders often may have specific criteria on how much or what can be added. 

Often for sole applicants struggling to borrow enough to get onto the property ladder. This is a type of mortgage where two or more people are responsible for paying for the mortgage yet only one person owns the property. Typically, this is with an individual goes on the mortgage with a parent to help increase borrowing, all whilst not having any stamp duty implications. Independent legal advise is required for this type of mortgage. 

A large loan, or High net worth (HNW) Mortgage is typically defined as anything over £500,000 by majority of banks and building societies. The process of purchasing a higher-value property is similar to that of a standard home purchase. However, factors such as your available deposit, chosen repayment plan, and complexity of annual income will influence the recommendations we make. High street lenders still often provide the most competitive interest rates, usually requiring a deposit of at least 10-15%. However private banks may offer more tailored options and better suited to your circumstances. At Thurlestone Mortgages, we’re here to help you find the best option that suits your needs.