{"id":82549,"date":"2026-11-07T18:41:36","date_gmt":"2026-11-07T18:41:36","guid":{"rendered":"https:\/\/smfinancelounge.co.uk\/?page_id=82549"},"modified":"2026-11-07T18:41:36","modified_gmt":"2026-11-07T18:41:36","slug":"mortgage-faqs","status":"publish","type":"page","link":"https:\/\/smfinancelounge.co.uk\/ru\/mortgage-faqs\/","title":{"rendered":"\u0427\u0430\u0441\u0442\u043e \u0437\u0430\u0434\u0430\u0432\u0430\u0435\u043c\u044b\u0435 \u0432\u043e\u043f\u0440\u043e\u0441\u044b \u043e \u0418\u043f\u043e\u0442\u0435\u043a\u0430"},"content":{"rendered":"

[et_pb_section fb_built=”1″ _builder_version=”4.27.9″ _module_preset=”default” global_colors_info=”{}”][et_pb_row _builder_version=”4.27.9″ _module_preset=”default” column_structure=”1_2,1_2″][et_pb_column _builder_version=”4.27.9″ _module_preset=”default” type=”1_2″][et_pb_text _builder_version=”4.27.9″ _module_preset=”default” hover_enabled=”0″ sticky_enabled=”0″]<\/p>\n

YOUR QUESTIONS, ANSWERED<\/p>\n

Mortgage FAQs<\/h1>\n

Our mortgage FAQs give clear, honest answers to the questions clients ask most, from how we work and what we charge to deposits, remortgaging, buy to let and protection. Can’t find your answer? Just ask us.<\/p>\n

Book a Free Consultation<\/a><\/div>\n

\u2605\u2605\u2605\u2605\u2605<\/span> 5.0 from 120+ Google reviews \u00b7 FCA authorised \u00b7 Whole of market<\/p>\n

[\/et_pb_text][\/et_pb_column][et_pb_column _builder_version=”4.27.9″ _module_preset=”default” type=”1_2″][et_pb_image src=”https:\/\/smfinancelounge.co.uk\/wp-content\/uploads\/2026\/11\/Dizainas-be-pavadinimo-5.png” _builder_version=”4.27.9″ _module_preset=”default” max_height=”480px” border_radii=”on|20px|20px|20px|20px” hover_enabled=”0″ sticky_enabled=”0″ alt=”SM Finance Lounge mortgage FAQs team”][\/et_pb_image][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.27.9″ _module_preset=”default” background_color=”#e8f1ed” custom_padding=”0px||0px||false|false” global_colors_info=”{}”][et_pb_row _builder_version=”4.27.9″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.27.9″ _module_preset=”default” global_colors_info=”{}”][et_pb_code _builder_version=”4.27.9″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n

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Working with us<\/a>Buying a home<\/a>Mortgage basics & remortgaging<\/a>Landlords & investors<\/a>Specialist situations<\/a>Protection<\/a><\/div>\n

Use these mortgage FAQs as a quick guide. Every situation is different, so if your question isn’t here, we’re happy to help.<\/pee><\/p>\n

Mortgage FAQs: working with us<\/h2>\n

The mortgage FAQs we hear first: what we charge, how we’re paid and how the process works.<\/pee><\/p>\n

\nDo you charge a fee?<\/summary>\nYes. We charge a broker fee, payable only once your mortgage offer is issued, so you pay nothing until our job is done. We’ll confirm the exact fee before you proceed, so there are no surprises.<\/pee><\/details>\n

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\nDo you receive commission?<\/summary>\nYes. We may receive commission from lenders and insurers for the work we complete. We’ll always tell you about this upfront.<\/pee><\/details>\n

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\nWhere do you work?<\/summary>\nWe help clients right across the UK by phone and video call, as well as expats and investors living abroad.<\/pee><\/details>\n

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\nCan I speak to you in Lithuanian or Russian?<\/summary>\nYes. Our team speaks English, Lithuanian and Russian, so you can talk things through in the language you’re most comfortable with.<\/pee><\/details>\n

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\nHow long does a mortgage take?<\/summary>\nEvery case is different, but from first call to mortgage offer usually takes around 6 weeks or more. A full house purchase often takes 6 to 12 weeks or longer, as the legal work usually takes the most time, so choose your conveyancer carefully.<\/pee><\/details>\n

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\nWhat documents will I need?<\/summary>\nUsually photo ID, proof of address, your last 3 months’ payslips and bank statements, and proof of your deposit. If you’re self-employed, you’ll need tax calculations and tax year overviews or accounts. If remortgaging, your latest mortgage statement too.<\/pee><\/details>\n

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\nWhat is a decision in principle?<\/summary>\nAlso called an agreement or mortgage in principle, it shows what a lender could be prepared to lend you. It helps you know your budget and shows sellers you’re serious. You’ll still need a full application and valuation for a formal mortgage offer once your offer on a property is accepted.<\/pee><\/details>\n

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Mortgage FAQs: buying a home<\/h2>\n

Mortgage FAQs from first time buyers and home movers about deposits, costs and timings.<\/pee><\/p>\n

\nCan I buy a home with no deposit?<\/summary>\nYes, in some cases. Some lenders offer 100% mortgages to renters with a good rent payment history, and others accept deposits from \u00a35,000, 1% or 2%. Family-backed options can help too. See our first time buyer mortgages<\/a> page.<\/pee><\/details>\n

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\nHow much deposit do I need?<\/summary>\nFor your own home, usually from 5%, and less with some specialist products. Buy to let usually needs 25%, sometimes 20%. A bigger deposit opens up more lenders and better rates.<\/pee><\/details>\n

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\nI’m a first time buyer in my 50s. Can I still get a mortgage?<\/summary>\nYes. Many lenders will lend into your 70s, and some go further, so a longer term is often still possible. It depends on your income now and in retirement.<\/pee><\/details>\n

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\nI owned a home years ago. Am I a first time buyer?<\/summary>\nFor stamp duty, no. First time buyer relief only applies if you’ve never owned a home anywhere in the world. Some lenders, however, treat you as a first time buyer for their products if you haven’t owned a property for a few years.<\/pee><\/details>\n

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\nWhat other costs should I budget for?<\/summary>\nSolicitor fees, a survey, any stamp duty, lender fees, our broker fee, and moving costs. We’ll go through the full picture with you before you start.<\/pee><\/details>\n

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\nHow long is a mortgage offer valid?<\/summary>\nUsually 3 to 6 months, depending on the lender, and sometimes longer for new builds. If it’s running out, we can often ask for an extension.<\/pee><\/details>\n

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\nCan I take out a new credit card or loan during the process?<\/summary>\nBest not. Even after your offer is issued, a lender may run another credit check before releasing funds, and new borrowing could put your mortgage at risk. Speak to us first.<\/pee><\/details>\n

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\nCan I keep my home and buy another one?<\/summary>\nYes, if you pass the lender’s affordability checks. The 5% stamp duty surcharge for additional properties will apply. See our residential and home mover<\/a> and let to buy<\/a> pages.<\/pee><\/details>\n

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Mortgage FAQs: basics & remortgaging<\/h2>\n

Common mortgage FAQs about rates, terms, overpayments and switching your deal.<\/pee><\/p>\n

\nWhat’s the difference between a fixed and variable rate?<\/summary>\nWith a fixed rate, your payments stay the same for an agreed period, which makes budgeting easier. With a variable or tracker rate, your payments can go up or down, often in line with the Bank of England base rate.<\/pee><\/details>\n

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\nHow long should I fix my mortgage for?<\/summary>\nIt depends on your plans. Fixes usually run from 2 to 10 years. A longer fix gives certainty, but leaving early can mean large early repayment charges, so a shorter deal may suit you if you might move.<\/pee><\/details>\n

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\nHow can I pay off my mortgage faster?<\/summary>\nBy making overpayments. Many lenders let you overpay up to 10% of your balance a year without an early repayment charge. Always check your lender’s terms.<\/pee><\/details>\n

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\nWhat is the maximum age for a mortgage?<\/summary>\nThere’s no single answer. Many lenders lend up to around age 70 at the end of the term, others go further, and there are retirement mortgages too.<\/pee><\/details>\n

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\nWhen should I start looking at a remortgage?<\/summary>\nAround six months before your deal ends. You can often lock in a new rate early, and we’ll keep watching rates in case they fall. See our remortgage<\/a> page.<\/pee><\/details>\n

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\nShould I just do a product transfer with my current lender?<\/summary>\nSometimes it’s the best option, but not always. We compare your lender’s offer with the whole market and can sometimes challenge your valuation to get a better rate.<\/pee><\/details>\n

<\/p>\n

Mortgage FAQs: landlords & investors<\/h2>\n

Mortgage FAQs from first-time landlords, portfolio landlords and property investors.<\/pee><\/p>\n

\nCan I buy a buy to let as a first time buyer?<\/summary>\nYes, with some lenders, even if you rent or live with family. They’ll want to be sure it’s a genuine rental. See our buy to let mortgages<\/a> page.<\/pee><\/details>\n

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\nHow much can I borrow on a buy to let?<\/summary>\nIt’s mainly based on the expected rent, which usually needs to cover the mortgage payment by 125% to 145% at a stressed rate, depending on the lender and your tax position.<\/pee><\/details>\n

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\nWhat is an HMO?<\/summary>\nA house in multiple occupation is rented to 3 or more people from more than one household who share a kitchen or bathroom. Larger HMOs with 5 or more people need a licence from the council. See our property investor mortgages<\/a> page.<\/pee><\/details>\n

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\nCan I buy a house and rent it to a family member?<\/summary>\nYes, but it’s usually treated as a regulated buy to let, and fewer lenders offer it. We’ll find the ones that do.<\/pee><\/details>\n

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\nWhat is let to buy?<\/summary>\nYou keep your current home and rent it out on a buy to let mortgage, often releasing equity for the deposit on your next home. See our let to buy<\/a> page.<\/pee><\/details>\n

<\/p>\n

\nWhat is a bridging loan?<\/summary>\nShort-term finance, often used for auction purchases, refurbishments or buying before you sell. Unregulated bridging for investment purposes is not covered by the Financial Ombudsman Service. See our bridging finance<\/a> page.<\/pee><\/details>\n

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\nShould I buy in my own name or a limited company?<\/summary>\nIt depends on your tax position and plans. Lenders usually prefer a special purpose vehicle (SPV) for limited company buy to let. Speak to an accountant about the tax side.<\/pee><\/details>\n

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Mortgage FAQs: specialist situations<\/h2>\n

Mortgage FAQs for bad credit, self-employed, visa holders and expats.<\/pee><\/p>\n

\nCan I get a mortgage with bad credit?<\/summary>\nOften, yes. It depends on what happened, when and how much. Specialist lenders look at each case individually. See our adverse credit mortgages<\/a> page.<\/pee><\/details>\n

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\nI’m self-employed or a company director. Can I get a mortgage?<\/summary>\nYes. Lenders assess income in different ways, so the right lender can make a big difference. See our self-employed<\/a>, company director<\/a> and CIS contractor<\/a> pages.<\/pee><\/details>\n

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\nCan I get a mortgage on a visa?<\/summary>\nYes. Some lenders accept a 10% deposit, and from 5% if your partner is British or has settled status. See our visa mortgages<\/a> page.<\/pee><\/details>\n

<\/p>\n

\nI live abroad. Can I buy or remortgage in the UK?<\/summary>\nYes, through specialist expat lenders, usually with at least a 25% deposit. See our expat mortgages<\/a> page.<\/pee><\/details>\n

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Protection FAQs<\/h2>\n

<\/p>\n

\nIs life insurance compulsory with a mortgage?<\/summary>\nNo, there’s no legal requirement, but it’s strongly recommended. It means your family isn’t left with a mortgage they can’t afford if the worst happens.<\/pee><\/details>\n

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\nIs critical illness cover expensive?<\/summary>\nOften less than people expect. The cost depends on your age, health, lifestyle and the amount of cover. Taking it out younger usually means lower premiums.<\/pee><\/details>\n

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\nWhat does “guaranteed premiums” mean?<\/summary>\nYour monthly payment stays the same for the whole policy term, as long as you don’t make changes. Reviewable premiums can go up over time.<\/pee><\/details>\n

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\nCan I have more than one protection policy?<\/summary>\nYes. Many people combine life insurance, critical illness cover and income protection, and some hold several life policies for different needs.<\/pee><\/details>\n

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\nCan I cancel my protection policy?<\/summary>\nYes, at any time. Within the cancellation period (usually 30 days) you’ll normally get your premiums back. After that, your cover simply stops when you cancel. Speak to us first, as replacing cover later can cost more.<\/pee><\/details>\n

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\nShould I put my life insurance in trust?<\/summary>\nUsually, yes. It can mean a faster payout without waiting for probate, keep the money outside your estate for inheritance tax, and lets you choose who receives it. See our life insurance and protection<\/a> page.<\/pee><\/details>\n

Didn’t find your answer in our mortgage FAQs? Book a free call, or read free, impartial guidance from MoneyHelper on buying a home<\/a> and GOV.UK on stamp duty<\/a>.<\/pee>Your home may be repossessed if you do not keep up repayments on your mortgage.<\/pee><\/div>\n<\/div>\n

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STILL HAVE A QUESTION?<\/p>\n

Ask us directly.<\/h2>\n

Every situation is different. Book a free call and we’ll answer your questions based on your own circumstances.<\/p>\n<\/div>\n

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YOUR QUESTIONS, ANSWERED Mortgage FAQs Our mortgage FAQs give clear, honest answers to the questions clients ask most, from how we work and what we charge to deposits, remortgaging, buy to let and protection. Can’t find your answer? Just ask us. Book a Free Consultation \u2605\u2605\u2605\u2605\u2605 5.0 from 120+ Google reviews \u00b7 FCA authorised \u00b7 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"class_list":["post-82549","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/smfinancelounge.co.uk\/ru\/wp-json\/wp\/v2\/pages\/82549","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/smfinancelounge.co.uk\/ru\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/smfinancelounge.co.uk\/ru\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/smfinancelounge.co.uk\/ru\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/smfinancelounge.co.uk\/ru\/wp-json\/wp\/v2\/comments?post=82549"}],"version-history":[{"count":5,"href":"https:\/\/smfinancelounge.co.uk\/ru\/wp-json\/wp\/v2\/pages\/82549\/revisions"}],"predecessor-version":[{"id":82557,"href":"https:\/\/smfinancelounge.co.uk\/ru\/wp-json\/wp\/v2\/pages\/82549\/revisions\/82557"}],"wp:attachment":[{"href":"https:\/\/smfinancelounge.co.uk\/ru\/wp-json\/wp\/v2\/media?parent=82549"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}