Frequently Asked Questions
You’ll find answers below to the questions we’re asked most often. We’ve covered the topics that come up regularly – deposits, credit history, income types, lender criteria, timelines and more – so you can get a clear picture before you speak to anyone.
If your question isn’t here, or you’d like to talk through your specific situation, get in touch directly with a whole-of-market mortgage broker. There’s no obligation and no cost for an initial conversation. We’ll tell you straight what’s realistic, which lenders are likely to work for your circumstances, and what the next step looks like.
What types of mortgages do you offer?
We specialise in Residential, Buy-to-Let and Second Charge mortgages.
Our Advisors are kept fully up-to-date on all the latest offerings and industry regulations so they’re therefore best placed to advise you accordingly, saving you the time and money in doing your own research. In addition, as part of Commercial Finance Network we also have access to the full range of commercial finance solutions when required.
Do you charge fees?
Initial advice is free, and we only charge once we have found you a lender who will offer a mortgage.
You can then opt to instruct us to search the full market of lenders to find the most suitable options, for which again there is no charge or commitment. Our fee is applied so that we can deliver you our industry leading level of client service and find you the best possible deal for your situation.
Which lenders do you work with?
As a whole-of-market broker, we have access to every lender on the market.
We work with both mainstream and niche lenders, depending on the requirements of our clients and the suitability of the products. UK Mortgage Broker is directly regulated and authorised by the Financial Conduct Authority, which enables us to have complete control and flexibility, whilst ensuring our clients are fully protected.
How do I know that I'm getting the best deal?
We check the full market, including exclusive rates that aren’t available directly to the public.
Our team of Mortgage Advisors have years of experience working with the full range of lenders on the market and have established connections with both mainstream and niche lenders. We know the mortgage market inside-out and this enables us to always find the best deals available for our clients.
Am I able to speak directly with a Mortgage Advisor?
Yes. Every client is allocated a dedicated Mortgage Advisor, not a call centre.
You will be working with the same Mortgage Advisor throughout your mortgage application and they will always be available to call and email directly. We answer calls within 6 rings and any emails within 4 working hours. Updates on your mortgage applications are also available 24/7/365 via our innovative online WiiN portal.
How can I get a quote from you?
Getting a quote starts with a quick 5-minute chat we call Client Discovery.
We capture all of the vital information and then get to work on finding you the ideal mortgage deal for your requirements. Usually, the deal will be sourced on the same day, unless it is a particularly complex case, which will take a little longer.
What information will you need from me?
This varies by lender, and your Mortgage Advisor will confirm exactly what is needed once your lender options are presented.
What are the benefits of working with you instead of going direct to a lender?
We access rates and deals you would not find going directly to a lender, and we are not tied to any one lender’s products.
Due to our longstanding connections in the mortgage industry, we have a strong insight into the current deals available. We do all of the hard work, saving you the time you would spend searching through thousands of mortgage lenders.
How are you different / better to other mortgage brokers?
Whole-of-market access combined with a dedicated Mortgage Advisor and Case Manager, rather than a call centre.
We are also able to offer our unique WiiN online portal that provides 24/7 updates and full visibility of your application at each and every stage.
Will my details be shared with any other companies / 3rd parties?
Your details are protected under GDPR and are not shared without your consent.
As a company that is authorised and regulated by the Financial Conduct Authority, we are fully trained on every aspect of Data Protection and GDPR and take our responsibilities to protect your data very seriously. Read our Privacy Policy to find out more about how we keep your details protected.
What is the complaints procedure?
Call or email us directly and we will work with you to find a solution.
Call us on +44 1628 969500 or contact us by email info@uk-mortgagebroker.co.uk to let us know what we can do to help. You can read our full complaints procedure here.
What are your contact details?
You can reach us by phone, email, or at our Marlow office.
UK Mortgage Broker
9 Station Road
Marlow
Buckinghamshire
SL7 1NG
How long does it take to get a mortgage offer?
Timescales vary by lender and case, but you typically receive a Decision in Principle within a few hours, or 24 hours for more complex cases.
Your Mortgage Advisor will explain the process in detail and provide an expectation of timescales once we start searching. Your dedicated Case Manager keeps you updated every step of the way, and our WiiN online portal shows the stages of your case and what is still outstanding, along with expected completion dates.
Can you still help me if I've already been declined by some other Lenders?
Yes. A decline from one lender does not mean all lenders will say no.
We offer access to every lender on the market, and if your options are limited due to adverse credit, we work with specialist lenders to find a mortgage that suits your circumstances. Applying for a mortgage that gets declined can further affect credit records, so we will only present options that are best placed to provide you with an offer. We recommend checking your credit file regularly – you can check your credit score and full report with a 30 day free trial with Check My File which can be cancelled at any time.
Can you help me to set up home and/or life insurance?
Yes, our Protection Team can build a plan covering your mortgage payments, your home and your family.
As well as providing a market-leading mortgage broker service, we advise you on the types of protection to take out, tailored to your needs.
My situation is complicated. Will you still be able to help me?
Yes. Complex situations, including adverse credit and other complications, are our speciality.
We have been helping clients find solutions for many years, and even if another broker has been unable to assist you, our whole-of-market access and experience means we are better equipped to find a solution.
What does a mortgage broker do?
A mortgage broker is an intermediary between lenders and homebuyers, comparing offers across the market on your behalf.
Their method involves evaluating your financial status, comparing loan offers from several lenders, and helping you apply for a mortgage while securing the best terms and interest rates for your home loan.
How does a mortgage broker differ from a bank?
A broker compares offers across many lenders, while a bank can only offer you its own products.
A mortgage broker is an independent expert that assists you in locating and evaluating mortgage offers from numerous different lenders. Banks are financial organisations that offer mortgage loans directly to consumers from just their own range of products.
Is it worth having a mortgage broker?
Yes. A broker gives you access to the full market of lenders and expert handling of the application process, often securing better terms than going direct.
You also get professional guidance on which products suit your circumstances, saving you significant time.
What does Loan to Value (LTV) mean?
Loan-to-Value (LTV) is the mortgage amount divided by the property’s purchase price, expressed as a percentage.
For example, if the property is valued at £100,000 and your deposit is £10,000, the loan-to-value ratio is 90%. Current rate ranges by LTV band are set out on our mortgage rates page.
How can I check my credit report?
Equifax, Experian and TransUnion are the three main UK credit reference agencies, and each provides access to your credit report.
You can use Check My File to access a combined report across all three agencies with a free 30-day trial, which can be cancelled at any time.
What documents do I need to pre-qualify for a mortgage?
You will normally need documentation of your income, employment status, credit history, and details of your assets and existing financial commitments.
How long will it take for my mortgage offer to be approved?
Once all documentation and a valuation are complete, a mortgage offer usually takes approximately one week to issue.
From this point, the legal process commences with solicitors being instructed to complete all necessary checks. This stage can take anything from two weeks for a remortgage to two months for a new purchase, depending on how quickly all parties respond.
How much deposit do I need?
A 5% deposit is widely available through the Mortgage Guarantee Scheme, though a 10% deposit opens up meaningfully more lenders and better pricing.
At 5% you are in the highest-risk tier for lenders, so scrutiny of your credit and income is stricter. 15% or more broadens the market further still. Our first-time buyer guide covers what each deposit level actually costs month to month, and our guide to 5% deposit risks is worth reading before committing to the lowest tier.
Can a mortgage broker help with bad credit?
Yes. A whole-of-market broker can help individuals with bad credit obtain a mortgage even with a less-than-ideal history.
We have access to specialist lenders who are experienced in adverse credit cases and can find options that may not be available directly from high street banks.
How long does a mortgage last?
UK mortgage terms typically run between 5 and 35 years, with 25 years being the most common.
The right term for you depends on your age, affordability, and long-term plans – your Mortgage Advisor will help you work out what makes sense for your situation. For a full comparison of fixed, tracker, interest-only and repayment structures, see our guide to the types of mortgage available in the UK.
Can a First Time Buyer get a Mortgage with bad credit?
Yes. Several lenders will consider first-time buyers with bad or adverse credit, even where CCJs have not yet been settled.
The interest rates and loan values available will vary depending on the exact credit scenario – speak with a broker who can get you a personalised quote. If you are not sure of your exact credit position, use this link to download your free credit report: Check My File
What's the difference between an income multiple and mortgage affordability?
An income multiple sets the ceiling; affordability is the calculation that actually decides your offer.
The multiple is roughly four to four and a half times your salary. Affordability deducts your committed outgoings and tests the payment at a rate above the one you would actually pay. Most declines happen because the affordability figure comes in lower than the income multiple suggested. Our guide to how much you can borrow covers both in detail, and how each is calculated.
How much does a monthly car payment reduce what I can borrow?
A £300 monthly car payment typically removes around £16,000 to £21,000 of borrowing at 4.5 times income.
The reduction is roughly the annual cost of the commitment multiplied by the lender’s income multiple, and it applies even if the account is managed perfectly and never missed. See our borrowing guide for the full worked figures.
Should I get a fixed or tracker mortgage?
It depends on how much payment movement your budget can absorb, not which rate looks lower today.
A tracker mortgage moves with the Bank of England base rate and usually carries no early repayment charge. A fixed rate holds your payment steady for the term but can include an exit charge if you leave early. Our fixed versus tracker guide walks through which suits which situation.
What counts as complex income for a mortgage?
Dividend income, retained company profit, bonuses, commission, and equity compensation such as shares or RSUs are all treated as complex income.
Lenders assess each differently, and some will only count a percentage of variable income rather than the full figure. See our complex income guide for how each type is assessed.
What's the true cost of a mortgage beyond the interest rate?
The headline rate is only part of the cost – arrangement fees, valuation fees and total interest over the term all add up.
The cheapest rate is not always the cheapest deal once fees are included. Our guide to the true cost of a mortgage sets out worked examples comparing deals properly.
What is the best mortgage strategy if you are not sure whether to fix, remortgage, or wait?
It depends on your risk appetite, how long you are staying, and where your current deal sits in its term.
Our best mortgage strategy guide brings fixed versus tracker, remortgage timing, and affordability together into one decision framework rather than treating them separately.
Still have a question? Call us on +44 1628 969 500 or email info@uk-mortgagebroker.co.uk and we will talk you through it directly.
Your home may be repossessed if you do not keep up repayments on your mortgage. UK Mortgage Broker is a whole-of-market broker directly authorised and regulated by the Financial Conduct Authority.