Guide: The essential guide to mortgages

Most people who buy property use some form of mortgage. According to the Financial Conduct Authority (FCA), in the final quarter of 2023, the total amount borrowed through residential mortgages was £1,657.6 billion.

While buying a property is exciting, the mortgage market can be daunting at times. With an overwhelming number of options available, whether you’re a first-time buyer or expanding your property portfolio, it can be challenging to navigate.

Read our latest guide to discover the essentials you need to know.

Some of the topics covered:

• How much can I borrow?
• Should you choose a repayment or interest-only mortgage?
• How long do you want your mortgage term to be?
• Would you prefer a fixed- or tracker-/variable-rate mortgage?
• Other fees and costs you might want to weigh up when taking out a mortgage
• What will your loan-to-value ratio be?
• 6 savvy reasons you might want to work with a mortgage professional

Get in touch

If you’d like to arrange an initial meeting to talk about your financial planning requirement, please contact us: email adviseme@fosterdenovo.com, call 0330 332 7866 or book a meeting.

With so much to consider, finding the right lender and mortgage product for you can be challenging.
A mortgage broker understands the market and will be in a position to offer you advice and guidance throughout the process.
Working with a mortgage broker can help you save money in the long run, through securing a mortgage with a lower interest rate, as well as helping you to handle the paperwork and other aspects of applying for a mortgage.
If you have any questions about your current mortgage arrangement or need to take out a new deal, we could help you. Please contact us to arrange a meeting:

This guide is for general information only and does not constitute advice. The information is aimed at retail clients only.

Your home may be repossessed if you do not keep up repayments on a mortgage or other loans secured on it.

The Financial Conduct Authority does not regulate some buy-to-let and commercial mortgages.

You may have to pay an early repayment charge to your existing lender if you remortgage.

By incurring a Lifetime ISA Government withdrawal charge you may get back less than you paid in.

Saving in a Lifetime ISA may affect your entitlement to current and future means tested benefits