• Tony Lenderyou

How to get a mortgage in 2021

Looking to buy a house and have no idea where to start? Ever wished these were the sort of topics taught in school? Mortgages and house buying can seem like a universe away, but they are much more straight forward than you expect. Here, we will give you some top tips you will need to know before starting the process of buying a house. If you feel you are ready, don't waste time! Give us a call and we will help guide you with a free consultation.

How much will you need?

In this current climate you will need a minimum of 10% deposit. That means 10% of the purchase price of the property you are looking to buy.

For example:

Purchase price: £200,000

Deposit required: £20,000 or more

Loan/ Mortgage: £180,000

*The higher the deposit then, potentially, the better the mortgage rate

Help to Buy: For first time buyers interested in New Build properties, a 5% deposit is required. 20% will be provided by the government as an equity loan, interest free for 5 years, and the mortgage loan amount will be based on the remaining 75%. The Mortgage and Equity loan are subject to status.

Visit the Government website ( for further information such as property price caps, and individual eligibility.

How much can you afford to borrow?

Each lender has their own affordability rules/ calculator, which is precisely why using a mortgage adviser can be so advantageous. We will advise you and research which mortgage is most suitable for you and your budget.

Give us a call for a free consultation!

Adverse Credit History

Fear that you have a poor credit history? Worried this will hinder your chances at getting a home? Fear not!

First of all, it is good to check your credit file before chatting to a financial advisor.

* A great website to use is

If you do have adverse credit, or a low credit score, there are many lenders that Mortgage Advisers like us have access to, that may provide mortgages for people in these circumstances. Don't let your past hinder your future!

Furniture/ House appliances

When buying a home, you are buying the space, not everything in it. You will have to consider what you need for each room inside your house. Sofa for the living room? Cooker and fridge for the kitchen? Bed for the bedrooms? Don't forget to budget for making you're house into you're home!


Last but not least, what fees can you expect to face in your house buying process?

Solicitor Fees: Around £1000

Mortgage Broker Fee: £295 (this is an example from our company 'Tony Lenderyou Mortgages')

Application/ Arrangement Fee: £0- £1995 *Lender dependent Some lenders charge fees on certain products, but usually these amounts can be added to your overall mortgage loan, and therefore will have interest charged on them.

Valuation/Survey fee: £0 to over £1000 depending on the type of report and purchase price of the property

Stamp Duty: Visit the following Government web-site -

*Be prepared for future monthly costs! You will have the following costs to account for when you tie yourself into a house purchase:

Mortgage monthly fee

Home Insurance

Buildings and contents Insurance

Life Insurance protection

Council tax

Water Bill

Gas & Electric Bill

Tv Licence

This blog is designed to give you an idea of what to expect when interested in purchasing your very own home. None of the figures are definite in this article, they are only to provide some guidance in getting started! Give us a call on 01661821155 or 07947839666 to book a free initial consultation and we can help you discuss your individual options, needs and wants!

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