Whatever you need a mortgage for, there is likely to be an option for you. Whether you’re buying for the first time, moving, simply switching or even looking to buy and let the property. You can use a mortgage to raise the finances for other large expenses too - for example paying for an extension to your home, a wedding, new car.
When looking for a mortgage, it’s always a good idea to investigate the company you intend to borrow from. Make sure your lender and broker are regulated by the Financial Services Authority (FSA) and make sure you fully understand what you’re signing up for.
Whichever mortgage you chose, look out for Higher Lending Charges (HLCs) which is a fee some lenders charge for borrowing large sums of money.
If you’re struggling to find money up front, consider including purchase fees within the mortgage to spread the cost over the term of your mortgage, rather than paying in full up front. Don’t forget though that interest fees will be charged on the fee and it may cost you more in the long run.