>>taking out a mortgage is a significant financial commitment, and it’s not always easy to know where to start.

This guide will help you understand your options and navigate the process with confidence.

introducing our mortgage service

Our qualified Mortgage Consultants are authorised and regulated by the Financial Conduct Authority (FCA) to provide clear, practical advice on your mortgage and protection needs. We take great pride in finding the right mortgage product for your circumstances. Whether you’re a first-time buyer, moving home, a buy-to-let investor or remortgaging, we’ll:

• Search thousands of mortgage deals from our panel of selected lenders to find the right one for you
• Confirm your borrowing capacity and explain all costs involved
• Help you construct a suitable offer to potentially save you money*. If your property purchase is for sale through another agent, and as long as we are not acting for the seller of the property, we can help with negotiations to aim to save you money
• Guide you through the house-buying process
• Take care of all your mortgage and protection arrangements

lifetime membership

When you take out a mortgage through us, you can become a Lifetime Member. This means you will receive ongoing mortgage and insurance advice for life.

• Never have to pay a broker fee again, no matter how many times you move or remortgage your existing home. Please note that an administration fee will still apply to all current and future mortgage applications.
• £100 when you recommend a friend or family member to us. Terms and Conditions apply**
• Full transferable across our entire brand. So if your needs or preferences change, your membership moves with you.

repaying your mortgage

There are two main types of mortgages. The option that is most suitable for you will depend upon your circumstances.

repayment mortgage

With this option, each monthly payment includes both capital and interest. Your loan gradually reduces, and by the end of the term, your mortgage will be fully repaid (provided you keep up with payments). This is a low-risk method that guarantees the repayment of your mortgage.

Your Mortgage Consultant can help you to find the right number of years over which to repay your mortgage. Please note that the longer your mortgage term, the more interest you will have to pay the lender.

interest-only mortgages

• Monthly repayment consists of interest only
• No capital repayments are made during the term, resulting in lower monthly costs
• Suitable in limited circumstances for people who do not wish to repay the capital until the end of the mortgage term
• Requires a separate repayment vehicle to pay off the capital at the end of the term
• Not accepted by all lenders unless an investment vehicle is also in place
• If the proceeds of your repayment vehicle do not cover the full amount of your mortgage, you’ll be responsible for paying the difference

repayment vehicle

At the end of the mortgage term, you will still owe the original amount you borrowed and will not own the property outright, so you need another plan for raising the money to do that, known as a ‘repayment vehicle’ such an endorsement, pension or ISA. We are not able to advise on the suitability of your selected repayment vehicle. If uncertain, we recommend that you seek independent financial advice.

types of mortgages available

Here are some of the most popular types of mortgages available.

fixed rate

Your payments are locked in for a set period (typically 2, 3, 5 or 10 years), regardless of what happens to the Bank of England Base Rate. This gives you certainty for budgeting, but be aware of potential early repayment charges and arrangement fees. You move on to your Standard Variable Rate at the end of the fixed rate period (unless you remortgage).

Be aware of Payment Shock - An increase in the payment on an adjustable-rate mortgage that may surprise the borrower at the end of an incentive period.

base rate tracker

Your payments track the Bank of England Base Rate plus additional interest. You’ll benefit from immediate rate reductions, but you’re also not protected from rate increases.

• Arrangement fees
• Early repayment charges and arrangement fees (these are possible)

The Bank of England base rate influences the mortgage interest rates available to buyers. A higher base rate typically means more expensive mortgage products, while a lower base rate can lead to more competitive, affordable options.

variable rate

Your payments follow your lender’s Standard Variable Rate, which is usually based on the Bank of England Base Rate plus additional interest. While you’re unlikely to face arrangement fees or early repayment charges, monthly budgeting can be more difficult.

standard variable rate 

A standard variable rate (SVR) is a type of variable-rate mortgage that you’re typically switched to when your current fixed-rate, tracker, or discount mortgage comes to an end— unless you decide to take out a new deal instead.

conveyancing services

Conveyancing is the legal transfer of property from one person to another. A conveyancer will charge an additional fee for their services, and there are thousands based around the UK, so to avoid confusion and make the process as stress-free as possible this is where we can help.

our home conveyancing service offers

• Fixed Legal Fee
• "No sale, no legal fee" promise
• Search Pledge on third-party costs if your purchase falls through, and it is not your fault
• No need to visit a Conveyancer's office
• Specialist expertise for properties in England and Wales
• Upfront searches giving you the possibility of moving 2 weeks earlier than others (terms and conditions apply)

valuation and surveys

The lender will process your application and arrange a basic mortgage valuation to ensure the property is worth the mortgage amount they are lending you. You should be aware this valuation is not a survey and may not identify any physical problems with the property.

RICS Home Survey Level 2 (Survey Only)

This is a report suitable for conventional properties, built from common building materials and in reasonable condition. The focus of the report is on assessing the general condition of the main elements of the property.

RICS Home Survey Level 2 + Valuation (Survey and Valuation)

This report is as above, but also includes the surveyor’s professional opinion on the ‘market value’ of the property and an insurance reinstatement figure.

RICS Home Survey Level 3 (Survey)

The level 3 Survey is the most detailed survey Connells offer. Typically instructed on older properties, those that have been extended or altered significantly or those of unusual construction.

• Comments on defects and their cause, and gives advice on remedial measures required
• Does not include a valuation

We can help you choose which survey would suit you best and arrange it for you, either directly with the lender or via our Survey and Valuation department.

the home buying process

We’re here for you every step of the way, ensuring the process is as smooth as possible. 

1. meet with our mortgage consultant

Speak to one of our Mortgage Consultants who will help assess your affordability for a mortgage.

2. mortgage approval

We will then search for an appropriate mortgage provider and find out how much they are prepared to lend to you in principle (subject to status and lender criteria).

3. your decisions

We will help you find your dream home as well as give you guidance on what offer to make if the property is for sale with another agent.

4. applying for mortgage and protection products

If your offer is accepted, we can help arrange your mortgage and happily discuss any protection needs you may have.

5. legal process

Most people use a conveyancer or solicitor when buying a house as it can be a complicated process. We can help you appoint one, if you wish.

6. your lender will arrange a valuation

This is a requirement for your mortgage, please note that having a survey done on the property would be in addition to this.

7. mortgage offer

If everything is in order a mortgage offer will be made.

8. searches

Local searches are carried out by your conveyancer or solicitor.

9. exchange

From this point, the purchase is legally binding. (Note that Building and Contents Insurance must be put into force from this point)

10. completion

The property is yours, and you can move in!

protecting you, your home and your family

Buying a property is a major investment, so it is wise to protect yourself and your home.

buildings cover

The mortgage lender will require you to have buildings insurance in place from the point you exchange contracts on a freehold property.

These steps cover the costs of repairing damage caused by sudden and unexpected emergencies, such as a burst pipe that floods a room, or structural damage caused by events like storms or fires. Building cover ensures your home is safe and habitable after such incidents.

Some building insurance policies have an element of accidental damage cover included, but you may want to add additional cover for more protection.

contents cover

You might want to consider adding contents insurance to ensure your possessions are covered from the day you move in. Contents insurance protects the belongings inside your home. This includes everything from furniture and appliances to personal items like clothing, electronics, and valuables.

For instance, if someone breaks in and steals your jewellery, this policy helps cover the cost of replacing or repairing those items. It essentially safeguards everything you would take with you if you moved house. Both types of cover are designed to give you peace of mind, ensuring you’re not left out of pocket after unexpected events.

protecting you and your family

There is a range of options to help protect you and your family if you were to die or if ill health forced you to take time off work.

speak to our mortgage consultant about

• Life insurance
• Critical illness
• Income protection

preparing a will

56% of UK adults do not have a Will in place.*** Having a Will in place ensures your property, possessions and assets are distributed according to your wishes, saving your loved ones worry, costs and stress. Our Will-writing service offers:

• Competitive pricing with no hidden charges
• Completion by correspondence in your own time
• Peace of mind that your estate and wishes are taken care of
• Additional services such as will storage and lasting power of attorney
• Provision for children by appointing guardians and leaving gifts