What is a mortgage? A mortgage is a loan used to buy a property. You borrow money from a lender (such as a bank) and agree to repay it over a set period (typically 25–40 years) plus interest. The property acts as security for the loan. How much deposit do I need? Most lenders require […]
Alongside your monthly mortgage costs you will also need to budget for other costs associated with house purchases. Some or all of the following may apply, depending on your circumstances: Our fees Choicemortgages charge an administration fee of £595. This is payable on application and is non-refundable. Mortgage fees Mortgage fees include arrangement, booking, and […]
Buying your first home is exciting. And ChoiceMortgages are here to help you every step of the way. Here’s our guide to the mortgage application process for first-time buyers. Speaking to a mortgage advisor A mortgage advisor will help you understand your options and find suitable deals based on your circumstances. They compare lenders, explain […]
There are various kinds of mortgages available to first-time buyers. These include: Fixed-Rate Mortgages A fixed-rate mortgage is a mortgage where the interest rate is fixed for a set period of time. This is generally 2, 3 or 5 years. Fixed-rate mortgages are a popular choice because the value of the monthly payment remains the […]
After deposit size, how much a first-time buyer can borrow is perhaps the next most frequently asked question! Loan values are generally worked out as a multiple of your annual income. Lenders will also want to ensure that agreed repayments are actually affordable. For example, if your monthly income is £2,500 and your financial commitments […]
This is one of the questions we’re most frequently asked. Generally, first-time buyers will require a deposit of 5% – 15% of the property value. This is money you will pay as lump sum at the outset. The size of your deposit affects the mortgages available to you from different lenders, the interest rates and […]
Buying your first home should be exciting. But finding the money for a deposit and finding an affordable home in an area you’d like to live can be daunting. Rising house prices, increased interest rates, and a sluggish economy have made this all the more difficult in recent years. However, with the right guidance and […]
We’re delighted to announce that Fiona Pinto has joined ChoiceMortgages UK Ltd as our new Mortgage & Protection Consultant, marking an exciting new chapter in the continued growth of our business. As our client base continues to expand and enquiries increase, it is important to us that we maintain the high standards of service, advice […]
On 26 February 2026, Nicola Bentman celebrates 25 years with ChoiceMortgages UK LTD in Stamford, a remarkable milestone in an industry that has seen extraordinary change. When Nicola joined the firm in 2001, the average UK house price stood at £137,230. Today it’s closer to £291,000. The Bank of England base rate was 5.75% then, […]
The November Budget is a roadmap that will shape financial decisions for years to come. From tax thresholds, savings limits and property charges, these measures will influence borrowing capacity and financial planning. It is likely to affect your family finances, cost of living and how you protect what matters most. The budget may affect your […]
