Ellis-Ridings Mortgage Solutions

Ellis-Ridings Mortgage Solutions Ellis-Ridings Mortgage Solutions - Your home finance experts

📊 Fixed rate, tracker rate or variable rate... what's the difference?Choosing a mortgage isn't just about the interest r...
16/06/2026

📊 Fixed rate, tracker rate or variable rate... what's the difference?

Choosing a mortgage isn't just about the interest rate.

It's also about how that rate behaves over time. 🏡

🔒 Fixed Rate
Your payments remain the same for a set period, providing certainty and stability.

📈 Tracker Rate
Your mortgage follows an external interest rate, meaning payments can rise or fall.

🔄 Variable Rate
The lender can change the rate, which means monthly payments may also change.

There is no one-size-fits-all answer.

The most suitable option will depend on your circumstances, attitude to risk and future plans.

Understanding the differences can help you make an informed decision rather than simply choosing the lowest headline rate. 💡

Your home may be repossessed if you do not keep up repayments on your mortgage.

❌ Myth: You need a 10% deposit to buy a homeThis is one of the most common myths we hear from first-time buyers.Many peo...
15/06/2026

❌ Myth: You need a 10% deposit to buy a home

This is one of the most common myths we hear from first-time buyers.

Many people spend years trying to save a large deposit because they believe it's the only way onto the property ladder. 🏡

Whilst a larger deposit can provide more options, there are also mortgages available with much smaller deposits.

In some circumstances, there are even solutions where a traditional deposit may not be required.

What matters most is finding the right solution for your circumstances.

The biggest mistake many people make is assuming they can't buy without first checking what may be possible. 📊

Your home may be repossessed if you do not keep up repayments on your mortgage.

🏡 Why getting an Agreement in Principle first can save you timeFound the perfect property? 😍Before arranging viewings or...
12/06/2026

🏡 Why getting an Agreement in Principle first can save you time

Found the perfect property? 😍

Before arranging viewings or making offers, it's often worth obtaining an Agreement in Principle (AIP).

An AIP gives an indication of how much a lender may be prepared to lend based on the information provided. 📊

It can help you:
✅ Understand your budget
✅ Focus on suitable properties
✅ Demonstrate you're a serious buyer
✅ Move quickly when you find the right home

Estate agents will often ask whether an AIP is in place before accepting an offer.

Whilst it isn't a guarantee of a mortgage offer, it can be an important first step in the home-buying journey. 🏡

Sometimes the difference between securing a property and missing out is being prepared.

Your home may be repossessed if you do not keep up repayments on your mortgage.

👶 Baby due any day... and they needed more spaceThis lovely couple were expecting a new arrival and wanted to move into ...
11/06/2026

👶 Baby due any day... and they needed more space

This lovely couple were expecting a new arrival and wanted to move into a bigger home before the baby arrived. 🏡❤️

There was just one concern.

Mum-to-be would shortly be going on maternity leave, meaning her income would reduce for a period of time.

Many people assume that a reduced income automatically means they need to put their plans on hold.

Fortunately, that's not always the case. 📊

By understanding lender criteria and providing the right supporting documents, we were able to demonstrate the family's circumstances and future income arrangements.

The result?

A mortgage offer was secured, allowing them to continue with their plans and focus on preparing for their growing family. 👶🔑

Every lender assesses maternity leave differently, and some are able to take a more practical view of future income than others.

This is where understanding lender criteria and having access to the wider market can make a real difference.

With a new baby on the way, the last thing a family needs is unnecessary stress. ❤️

Your home may be repossessed if you do not keep up repayments on your mortgage.

🏡 Your credit score isn't the same as your mortgage scoreOne of the biggest misconceptions we hear is:"My credit score i...
10/06/2026

🏡 Your credit score isn't the same as your mortgage score

One of the biggest misconceptions we hear is:

"My credit score isn't high enough to get a mortgage."

The reality is that lenders don't all use the same scoring systems. 📊

In fact, many lenders focus more on the information contained within your credit report than the actual score shown on an app or website.

Things such as missed payments, defaults, electoral roll information and credit commitments can all have an impact.

This means two lenders may view the same applicant very differently.

That's why it's important to look beyond the headline score and understand the bigger picture.

Sometimes the answer isn't as simple as the number on your screen. 🏡

Your home may be repossessed if you do not keep up repayments on your mortgage.

🏡 Offer accepted... what happens next? 🔑One of the most common questions we get asked is:"How long will it take before w...
09/06/2026

🏡 Offer accepted... what happens next? 🔑

One of the most common questions we get asked is:

"How long will it take before we can move in?"

Whilst every purchase is different, here's a typical timeline from offer accepted to getting the keys:

📅 Week 1-2
Mortgage application submitted and solicitor instructed.

📅 Week 2-4
Mortgage offer issued (subject to lender timescales).

📅 Week 3-8
Searches, legal enquiries and property investigations completed by the solicitors.

📅 Week 8-12
Contracts exchanged and completion date agreed.

🔑 Completion Day
Funds are transferred, keys are released and you can move into your new home!

Of course, factors such as property chains, surveys, leasehold properties, new builds and solicitor workloads can all affect timescales.

The good news is that having your documents ready and responding quickly to requests can help keep everything moving smoothly. 📄

Buying a home can sometimes feel like a waiting game, but understanding the process helps make the journey far less stressful. ❤️🏡

Your home may be repossessed if you do not keep up repayments on your mortgage.
You may have to pay an early repayment charge to your existing lender if you remortgage.

🏡 Told to wait 3 months... but their dream home wouldn't waitThis first-time buyer couple had found the perfect property...
08/06/2026

🏡 Told to wait 3 months... but their dream home wouldn't wait

This first-time buyer couple had found the perfect property. ❤️

There was just one problem.

One applicant had only recently started a new job and was still within their probation period.

After speaking with another broker, they were told they would need to wait at least 3 months before applying for a mortgage. ⏳

Unfortunately, their dream home was available now.

Rather than focusing on what couldn't be done, we looked at what could be done. 📊

By understanding lender criteria, knowing which lenders would consider an applicant in a new role, and providing the right supporting information, we were able to secure a mortgage offer despite the probation period.

The result?

Their dream home was no longer out of reach. 🔑🏡

Every lender has different criteria, and what one lender won't consider may be perfectly acceptable to another.

Sometimes the difference isn't the situation itself — it's knowing where to place the case.

Your home may be repossessed if you do not keep up repayments on your mortgage.

⚠️ Your home, car and phone are insured… but is your income?Most people insure the things they own. 🚗📱🏡But the one thing...
05/06/2026

⚠️ Your home, car and phone are insured… but is your income?

Most people insure the things they own. 🚗📱🏡

But the one thing that pays for all of them is often left unprotected. 💷

According to MetLife’s Everyday Risk Report, simple events such as falls, sports injuries and other everyday accidents can have a significant financial impact if they prevent you from working.

Your income is what keeps the mortgage paid, the bills covered and the household running smoothly.

Income protection can provide a regular income if illness or injury stops you from working for a prolonged period. 🛡️

Life insurance and critical illness cover can also form part of a wider protection plan, helping provide financial security when life takes an unexpected turn.

Your possessions may already be insured… but your income could be the most important asset of all.

Your home may be repossessed if you do not keep up repayments on your mortgage.

📉 More lenders are reducing rates... and that's good newsOver recent weeks we've started to see lenders reduce rates aga...
05/06/2026

📉 More lenders are reducing rates... and that's good news

Over recent weeks we've started to see lenders reduce rates again. 👏

Whilst nobody has a crystal ball, lower rates can improve affordability and increase the options available to buyers and homeowners.

For some people, this could mean:
🏡 Borrowing slightly more
🏡 Accessing a better rate
🏡 Reducing monthly payments
🏡 Making a previously unaffordable property achievable

One thing we see regularly is people ruling themselves out based on information that may be months old.

Mortgage rates and lender criteria change constantly.

The answer today may be very different from the answer you received six months ago. 📊

Knowing where you stand can be a valuable first step.

Your home may be repossessed if you do not keep up repayments on your mortgage.
You may have to pay an early repayment charge to your existing lender if you remortgage.

⚡ Mortgage application to mortgage offer in just 4 working days! 🏡When buying a home, speed can make a huge difference.A...
04/06/2026

⚡ Mortgage application to mortgage offer in just 4 working days! 🏡

When buying a home, speed can make a huge difference.

A quick mortgage offer can provide certainty, keep transactions moving and reduce stress for everyone involved. 📄

This week, we received a mortgage offer just 4 working days after the application was submitted. 🎉

Of course, every case and every lender is different, and timescales can vary.

But this highlights the importance of having an application packaged correctly from the outset.

Understanding lender criteria, gathering the right documents early, presenting the case clearly and selecting the most suitable lender can all help avoid unnecessary delays. 📊

The difference between simply submitting an application and strategically placing a case can often have a significant impact on the outcome and the speed of the decision.

Experience doesn't guarantee a fast offer every time, but it can help ensure your application gets off to the best possible start. 🚀

Your home may be repossessed if you do not keep up repayments on your mortgage.
You may have to pay an early repayment charge to your existing lender if you remortgage.

Address

99B Dartmouth Road
Paignton
TQ45HU

Telephone

+447824860117

Website

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