A mortgage is a type of loan that helps you buy a property when you do not have the full amount to pay upfront. Essentially, you borrow money from a lender, such as a bank or building society, and pay it back over an agreed period, usually in monthly instalments.

Mortgages typically consist of two parts: the loan amount (the money you borrow) and the interest (the cost of borrowing that money). The type of mortgage you choose, such as a fixed rate, tracker, or variable rate, will affect how your repayments change over time.

Most people also need to provide a deposit, which is a percentage of the property’s purchase price. The larger the deposit, the more favourable your mortgage terms may be.

At SibSmart Mortgages, we guide you through the entire mortgage process, helping you understand how much you can borrow, which type of mortgage is best for your situation, and what costs to consider along the way. Our goal is to make your mortgage simple, stress-free, and tailored to your needs.

The amount you can borrow depends on your income, outgoings, credit history, and the lender’s specific criteria. Every lender is different, and each one may assess your situation slightly differently. At SibSmart Mortgages, we review a wide range of options across multiple lenders to find the most suitable mortgage for you. This ensures you get the best possible borrowing amount and terms for your circumstances.

Fixed rate mortgages keep the same interest rate for a set period. Tracker mortgages follow the Bank of England rate. Variable rates can change depending on the lender.

Yes. Lenders will look at your income over the past 2-3 years. We can help you prepare the right documents.

These may include solicitor fees, surveys, stamp duty, broker fees and insurance. We help you budget for all the costs.

Most mortgages require a deposit, usually between 5% and 20% of the property price. Generally, the larger your deposit, the better the mortgage deal you can secure. However, there are also government schemes and specialist lender options available where a deposit may not be required at all, particularly for first-time buyers. At SibSmart Mortgages, we can review all available options to help you find a mortgage that suits your budget and circumstances.

Staying can be simple, but switching might give better rates or terms. We review both options to find what suits you.

A good credit score helps you secure better rates. Even if your credit isn’t perfect, we can advise on suitable options.

Life insurance can provide peace of mind by offering a financial safety net for your loved ones in the event of your death during the term of your mortgage. It can cover the outstanding mortgage balance or provide a lump sum, helping your family manage their home and finances. At SibSmart Mortgages, we can help you explore different options to find the level of cover that fits your situation and budget.

Income protection is designed to provide a regular income if you are unable to work due to illness or injury. This can help ease the financial pressure of everyday bills, including mortgage payments, while you focus on recovery. There are a range of policies available, and at Sib SmartMortgages, we can guide you through the options to find one that works for your lifestyle and financial goals.