Mortgage Guide

The subject of Mortgages is gigantic.
Get in touch, and we’ll answer your specific questions.
Property is the biggest financial commitment you’ll ever make,
so it deserves a proper conversation.

Understanding Mortgages with Mortgage One

For many individuals, getting onto the property ladder means securing a mortgage. At Mortgage One, we aim to simplify this process for you, ensuring you’re equipped with the knowledge and support needed to find the right mortgage deal.

What is a Mortgage?

A mortgage is a loan secured against your property, allowing you to purchase a home. The property acts as collateral, meaning the lender can repossess it if you fail to meet your repayment obligations.

How Mortgages Work

Mortgages are typically repaid over a set term, often 25 years. Monthly payments consist of both the amount borrowed and the interest charged. The loan is secured against your property until it's fully paid off, which is why consistent repayments are crucial to avoid the risk of repossession.

Mortgage Deposits and Loan-to-Value (LTV)

Your deposit is the initial amount you put towards the purchase, reducing the size of the loan you need. The percentage of the property’s value you borrow is called the Loan-to-Value (LTV). For example, with a 10% deposit, the LTV is 90%, and the mortgage will cover the remaining amount of the property price.

Types of Mortgages We Offer

  • First-Time Buyer Mortgages: Specially designed to help those taking their first step onto the property ladder.

  • Remortgaging: For those looking to switch to a better deal or release equity from their home.

  • Buy-to-Let Mortgages: For investors aiming to purchase rental properties.

  • Commercial Mortgages: Tailored for business purchases or investments.

Fixed vs. Variable Mortgages

At Mortgage One, we offer both fixed-rate mortgages, which guarantee your interest rate for a set period, and variable-rate mortgages, where rates fluctuate with market conditions. We’ll work closely with you to determine which option best suits your financial needs.

Managing Your Mortgage

Once you secure a mortgage, maintaining regular repayments is key. We recommend setting up a direct debit to ensure payments are made on time, preventing any negative impact on your credit rating.

Next Steps with Mortgage One

Our team at Mortgage One is committed to making the mortgage process straightforward and stress-free. From your first inquiry to completion, we’ll guide you every step of the way. Whether you’re a first-time buyer, moving home, or looking to remortgage, we’ll help you find the best deal for your unique situation.

Reach out to us today to start your mortgage journey with confidence.