Frequently asked questions

How much deposit do I need?


You will need a minimum of 5% deposit. The more deposit you put in, the better the interest rates will be. For example, if you put in 15% deposit this will get you a better interest rate than a 10% deposit.




How much can I borrow?


The main things that dictate how much a person or couple can borrow is income and current credit commitments. All lenders have different ways to calculate what someone can borrow.




How much will a mortgage cost each month?


This will vary depending on the loan amount, the term of the mortgage and the interest rate.




What is the difference between a repayment mortgage and an interest only mortgage?


A repayment mortgage is guaranteed to pay off your mortgage by the end of the term as long as all payments have been made. An interest only mortgage is where your monthly payments are only covering the cost of the interest and your loan amount will remain the same. At the end of the term, you would either need to sell the property to repay the mortgage or find another source to repay the loan.





 

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Authorised and Regulated by the Financial Conduct Authority (FCA). UKFCS Mortgage Specialists is the trading name of UK Financial Consultancy Services Limited who’s FCA number is 435495 and can be found on the regulators website at www.fca.org.uk/register.


It is a private limited company registered in England & Wales with Company Number 05467810. The registered office of UK Financial Consultancy Services Limited is 142-143 Parrock Street, Gravesend, Kent, DA12 1EY. UKFCS Mortgage Specialists act as an intermediary and is not a lender. The FCA does not regulate some investment and commercial mortgage contracts. 

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT. PROTECTION POLICIES AND INSURANCE MAY BE SUBJECT TO EXCLUSIONS.