Find the Right Mortgage
Based on your options!
Whether you’re buying your first home, moving house, remortgaging, or investing in property, choosing the right mortgage can make a significant difference.
At PBSBrokers, we take the time to understand your circumstances before recommending suitable mortgage options.
Why PBSbrokers
No two mortgage applications are the same. Employment type, income, deposit, credit history, and future plans can all influence which mortgage options may be available.
Rather than focusing on a single lender or product, we take the time to understand your situation and help you explore suitable mortgage solutions based on your individual circumstances.
Personalised mortgage guidance
Support for straightforward and specialist cases
Explanations without unnecessary jargon
Help throughout your mortgage journey
What Is a Mortgage?
A mortgage is a loan used to buy a property, with the property itself acting as security for the lender until the loan has been repaid.
You’ll usually contribute a deposit and borrow the remaining amount. The mortgage is then repaid over an agreed term through monthly payments. The amount you can borrow, the interest rate available, and the lender’s requirements will depend on your individual circumstances.
Whether you’re buying your first home or your next investment property, understanding how mortgages work is the first step towards making an informed decision.
How Does a Mortgage Work?
Although every application is different, most mortgages follow the same general journey. Lenders will assess your income, affordability, deposit, credit profile, and the property before making a lending decision.
Understanding each stage of the process can help you prepare the right documents, avoid unnecessary delays, and know what to expect from application to completion.
Check your circumstances, the property and the mortgage together.
Understand your options, compare the true costs and build a mortgage plan around your goals.
Learn More about Mortgages
The cost of a mortgage is more than just the monthly repayment. Depending on the lender and the product you choose, there may be additional costs such as arrangement fees, valuation fees, legal fees, and insurance requirements. Some products include incentives that reduce certain upfront costs, while others may charge higher fees in exchange for lower interest rates.
Understanding the total cost of borrowing, rather than focusing only on the interest rate, can help you compare mortgage options more effectively and avoid unexpected expenses throughout the home-buying process.
Your mortgage interest rate determines how much you'll pay to borrow money from the lender. Rates vary depending on the mortgage product, your loan-to-value (LTV), credit profile, and the lender's own criteria. Some rates stay the same for an agreed period, while others can change over time.
The most suitable option depends on your financial circumstances, your plans for the property, and how comfortable you are with potential changes to your monthly repayments.
Choosing between a fixed-rate and a variable-rate mortgage is one of the biggest decisions when selecting a mortgage product. A fixed-rate mortgage keeps your interest rate and monthly payments the same for a set period, offering greater payment certainty. Variable-rate mortgages can rise or fall depending on the lender's standard variable rate or changes to an external benchmark, meaning your monthly payments may change over time.
Each option has its own advantages and trade-offs, so it's important to consider both your budget and your long-term plans before deciding.
The amount you may be able to borrow depends on a range of factors, not just your income. Lenders typically assess your earnings, regular spending, existing financial commitments, credit history, deposit, and overall affordability before deciding how much they're prepared to lend.
Because every lender uses different affordability models and lending criteria, borrowing limits can vary significantly. Understanding your budget early can help you focus your property search on homes that are realistically within your reach.
Let's Find the Right Mortgage for You
Amir Shojaee
Director and Founder of PBSBrokers
CeMAP Qualified Mortgage Adviser
At PBSbrokers, we offer a free initial consultation to review your income, deposit, affordability, credit profile, and mortgage objectives. Whether your case is straightforward or more complex, we'll help you understand the options that may be available and guide you through the next steps.
