Steve Tidd - Mortgage & Protection Specialist

23/07/2025

We have been complaining about this in our industry for years and now it is finally starting to be exposed. "Conditional Selling" is illegal under the Estate Agents Act 1979. You DO NOT have to use the estate agents mortgage broker or conveyancer and they are NOT allowed to discriminate against you for not using their services.

NB - There are lots of good estate agents out there.

Reporter Lucy Vallance goes undercover at one of the UK’s biggest estate agencies to investigate claims it’s not acting in the best interests of customers.

12/12/2024

I have many clients that come to me wanting to buy their first home but don't know how to be mortgage ready. Here are 5 tips that might point you in the right direction;⁣⁣⁣
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𝐔𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝𝐢𝐧𝐠 𝐀𝐟𝐟𝐨𝐫𝐝𝐚𝐛𝐢𝐥𝐢𝐭𝐲⁣⁣⁣
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The amount you can borrow will depend on many factors including your age, your income, your credit commitments, whether you have any dependents or not and the size of your deposit. When you apply for a mortgage, lenders will conduct a thorough assessment of your financial situation to determine what you can comfortably repay. There is no hard and fast rule about borrowing capacity but typically lenders will aim to lend between 4.5x and 5.5x your income dependent on the answers to the points above.⁣⁣⁣
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𝐁𝐮𝐢𝐥𝐝𝐢𝐧𝐠 𝐚 𝐃𝐞𝐩𝐨𝐬𝐢𝐭⁣⁣⁣
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Saving for a deposit is often the most significant hurdle for first- time buyers. While a 5% deposit can open doors to specific mortgage products, aiming for 10% or more can unlock more competitive rates as this brings more lenders into play. Financial help from family can bolster your deposit amount and improve your mortgage prospects. ⁣⁣⁣It is becoming more and more common for gifted deposits to be used to help get you on the ladder.
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𝐄𝐱𝐩𝐥𝐨𝐫𝐢𝐧𝐠 𝐌𝐨𝐫𝐭𝐠𝐚𝐠𝐞 𝐎𝐩𝐭𝐢𝐨𝐧𝐬⁣⁣⁣
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There’s a range of mortgage products available depending on your deposit size. While 95% loan- to-value (LTV) mortgages exist, opting for a 90% LTV or lower can lead to more favourable interest rates. Some properties have minimum deposit requirements to meet lenders criteria such as lending on flats and some new build properties.⁣⁣⁣
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𝐌𝐚𝐧𝐚𝐠𝐢𝐧𝐠 𝐘𝐨𝐮𝐫 𝐂𝐫𝐞𝐝𝐢𝐭 𝐏𝐫𝐨𝐟𝐢𝐥𝐞⁣⁣⁣
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Before applying for a mortgage, review your credit record with agencies. I would often recommend using a credit report which cross references multiple agencies as lenders will often gather data on you from multiple agencies to give them the most accurate picture of your credit history. Ensure your information is accurate and up to date and that you are registered on the voter’s roll at your current address. Avoid unnecessary credit applications leading up to your mortgage application, as these can impact your credit score. E.g. don’t make any applications for loans or car finances before your mortgage application as these will leave hard footprints on your credit file and may be the difference between you being accepted or declined with certain lenders.⁣⁣⁣
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𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐃𝐢𝐬𝐜𝐢𝐩𝐥𝐢𝐧𝐞⁣⁣⁣
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Leading up to your mortgage application, maintain disciplined financial habits. Lenders inspect bank statements to assess your spending patterns, so it’s wise to prioritise essential expenses and cut back on needless spending where possible. I see a lot of clients who would spend a lot of their current surplus funds on gambling and take-aways as they can currently afford this but tell me this will stop when they have a mortgage. Mortgage lenders are looking at these habits prior to you taking a mortgage and will base their lending decisions on your current spending habits so it is best to be prepared and cut back in the months leading up to your application. ⁣⁣⁣
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𝐆𝐞𝐭 𝐢𝐧 𝐭𝐨𝐮𝐜𝐡!⁣⁣⁣
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𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐮𝐬 𝐭𝐨𝐝𝐚𝐲 𝐭𝐨 𝐟𝐢𝐧𝐝 𝐭𝐡𝐞 𝐦𝐨𝐬𝐭 𝐬𝐮𝐢𝐭𝐚𝐛𝐥𝐞 𝐦𝐨𝐫𝐭𝐠𝐚𝐠𝐞 𝐝𝐞𝐚𝐥 𝐟𝐨𝐫 𝐲𝐨𝐮.⁣⁣⁣
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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE.

31/10/2024

Looking to renew your mortgage?

With interest rates rising there’s a lot to consider, so let us do the hard work for you.

We’re professionals and we understand the market. We have the right tools and have access to exclusive mortgage products through Quilter Financial Planning.

Get in touch!

Contact us today to find the most suitable mortgage deal for you.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE.

Approver Quilter Wealth Limited, Quilter Financial Limited, Quilter Financial Services Limited & Quilter Mortgage Planning Limited. Quilter Financial Planning Solutions Limited. September 2024

22/05/2024

We helped these clients get a mortgage 5 years ago when they had been rejected by many high street lenders and other brokers. Luckily, our expertise meant we knew exactly where to place them and got them a fantastic product too. Without a brokers knowledge, they would'nt have just repaid the mortgage on their dream home. Speak to your broker...

28/03/2024

BIG NEWS IN THE INDUSTRY

Launching the £5K Deposit Mortgage!

This unique product is designed to help first time buyers purchase their first home faster with just a £5K deposit and is available for LTVs over 95%, up to a maximum of 99%.

How do you qualify?

• At least one applicant must be a first time buyer (defined as never having owned a property in the past) and no background properties on the application
• Applicants must have a minimum £5K deposit
• Must have an excellent credit score

What else do you need to know?

• 5 Year Fixed Rate product only
• Maximum age of 70 at the end of the mortgage term
• Available for LTVs between 95.01% LTV and 99% LTV
• Available for house purchases above £100K up to £500K

Get in touch today to find out more....

30/01/2024

Another satisfied customer. We done 5 positive rate changes for the client between application and completion, the last coming just hours before completion which ended up saving them a further £365 per month! It's one of the many reasons to use a broker; had they gone direct, the lender wouldn't have advised them about the rate changes and they would've been paying much more than they will be now! Get in touch for all of your mortgage needs

23/09/2022

A welcome change to the stamp duty as of today.

In short;

The price at which stamp duty is paid was doubled from £125,000 to £250,000.

The rates are now:

0%: £0 - £250,000 (£425,000 for first time buyers)
5%: £250,000 - £925,000
10%: £925,000 - £1,500,000
12%: £1,500,000+

Get in touch to find out how much you will be saving on stamp duty as of today....

What are the stamp duty rules across the UK?

27/08/2021

Always lovely to receive thank you cards and gifts from customers. Dedication and hard work is rewarded in many ways.

Happy Friday everyone!

04/03/2021

95% Mortgage Guarantee Scheme is coming soon...

Here is what we know so far:

The scheme enables homebuyers to secure a mortgage with a 5% deposit, with the government underwriting 95% mortgage loans.

The scheme is available to all home buyers (not just first-time buyers) from April 2021 on properties worth up to £600,000. Major lenders including Barclays, HSBC, NatWest and Santander have agreed to participate from April, with more, including Virgin Money, likely to join soon after.

What is the Mortgage Guarantee Scheme?

The scheme is set to be similar to the old Help to Buy mortgage guarantee scheme, which closed to new applicants in 2017. Under the new scheme, homebuyers taking out a mortgage should not see any practical difference to their mortgage journey.

Lenders (banks and building societies) will be encouraged to offer 95% mortgages based on the government guaranteeing outstanding loans. It means lenders have a government guarantee in the event the borrower is unable to meet their monthly mortgage repayments, or if house prices fall and the property is worth less than the outstanding mortgage loan – known as negative equity. Through the scheme the government agrees to cover these risks, which means lenders will be more open to lending to homebuyers with a small deposit.

The same affordability checks will be carried out when you apply for a mortgage and having a 5% deposit will not necessarily be enough to secure the loan – even through this scheme. Homebuyers must prove that they can comfortably afford the monthly repayments after other essential spending has been covered. Contact me today to check affordability and register your interest to find out more about the scheme as and when details are released from the lenders...

14/06/2020

Read Martin Lewis’ thoughts on getting a mortgage .... “this is an absolute no brainer, go to a mortgage broker.”

For all your purchase, remortgage, buy to let and other property needs, get in touch!

MARTIN LEWIS is well known for providing Britons with all of the latest financial and money advice which can help in a variety of situations.

28/04/2020

Some positive news regarding mortgages. Some lenders are increasing their loan to values meaning you don’t need the 25%-40% deposit or equity you needed before the weekend. Some bigger lenders have increased their max loan to values to 85% meaning a deposit/equity of 15% whilst one or two lenders are still lending up to 90-95% albeit on a restricted daily basis. Get in touch to discuss switching your mortgage whilst the rates are at an all time low....

Lenders are offering more generous terms to borrowers after weeks of restrictions.