Unlike residential mortgages, commercial mortgages fund business premises and investment properties such as offices, retail units, warehouses, and mixed-use buildings. The lending is bespoke: underwriters assess the business, property, cash flow, and borrower experience. Types of commercial mortgages • Owner-occupied: for businesses buying premises they trade from. • Commercial investment: for investors purchasing property to…

For many first-time buyers, affordability is the biggest hurdle. Even with a healthy deposit, lender income assessments can block access to the right property. A joint borrower sole proprietor mortgage (JBSP) can be a solution. It allows another person (often a parent) to boost the application without being on the property deeds. What is a…

A joint mortgage allows couples, friends, or family to combine incomes and co‑own property. Everyone on the mortgage is liable for repayments. How it works Lenders assess all applicants’ incomes, credit, and commitments. Ownership can be set as joint tenants (equal shares) or tenants in common (flexible shares). Legal agreements (declarations of trust) can protect…

For buyers who fall short on deposit or affordability, a guarantor mortgage can bridge the gap—without the guarantor owning the property. How it works A parent/relative guarantees repayments, often securing the loan against their home equity or a savings pledge. If the borrower defaults, the lender can claim against the security. The guarantor may be…

Variable rates trade certainty for flexibility. Your lender’s SVR can move, affecting your payments; discount deals sit at a margin below SVR for a period. How it works SVR is set by the lender and can change at their discretion (often influenced by the base rate). Discount mortgages track SVR minus a discount (e.g., SVR…

Tracker mortgages are variable products that move directly with the base rate—your payments can rise or fall during the deal term. How it works Your rate = base rate + a fixed margin (e.g., +0.75%). If base changes, your payment changes accordingly. Terms often last 2–5 years before reverting to SVR. Advantages Lower costs when…

Interest only keeps monthly payments low, but the capital must be repaid at term end via investments, savings, or sale—so a robust strategy is essential. How it works Monthly payments cover interest only; balance remains. At maturity, repay the capital in full using an approved repayment vehicle or disposal plan. Who qualifies Borrowers with strong…

Offset mortgages pair a savings account with your mortgage: your savings don’t earn interest; instead, they reduce the mortgage balance used to calculate interest. Example Mortgage £200k, savings £20k. Interest charged on £180k—cutting cost and potentially term, while you keep access to savings. Key features Flexible access to savings, reduced interest, potential term reduction, and…

Fixed rates offer certainty for 2/3/5/10 years+, protecting you from rises and simplifying budgeting. How it works You agree a rate for a fixed period; payments stay the same. At expiry you revert to SVR unless you remortgage. Many borrowers switch again before SVR. Example £200k over 25 years at 4% fixed ≈ £1,056/m. Even…

A second charge (secured) loan sits alongside your first mortgage, using your property as security to raise funds while keeping an attractive main rate intact. How it works You continue paying your first mortgage and take a separate loan secured on available equity. On sale, the first charge is settled before the second. Why use…

Shared ownership lets you buy 25–75% of a property and pay rent on the remainder to a housing association, with the option to staircase later to 100%. Who qualifies? First‑time buyers or former owners who can’t afford outright purchase, household income ≤ £80k (£90k London), and intention to live in the home. Local/priority rules may…

BTL mortgages finance rental property. Lenders assess affordability using expected rent rather than your personal income. Key features Rental coverage: rent must typically cover 125–145% of mortgage interest (stress‑tested). Higher deposits: 20–40% is common. Interest‑only is popular among landlords. Fees/rates usually higher than residential. Who can get one? Often requires homeownership, clean…