Mewstone Mortgage Advice

10/06/2026

🏡 "The lender has valued the property, so I don't need a survey..."

It's one of the biggest misconceptions we come across when helping people buy a home.

The reality is that many mortgage lenders aren't physically inspecting properties anymore. In a lot of cases, they're relying on desktop valuations, automated systems and property data to decide whether the property is suitable security for the mortgage.

But here's the important bit...

The lender's valuation is there to protect the lender.

It isn't designed to tell you whether the property has:

❌ Damp problems
❌ Structural movement
❌ Roof defects
❌ Timber issues
❌ Expensive repairs lurking beneath the surface

In fact, over the last few weeks alone, we've seen buyers pull out of purchases after independent survey reports uncovered serious defects that weren't obvious during viewings.

A Level 2 HomeBuyer's Survey or Level 3 Building Survey could potentially save you thousands of pounds and a huge amount of stress after moving in.

We've put together a detailed guide explaining:

✅ The difference between a mortgage valuation and a survey
✅ What a Level 2 Survey covers
✅ When you should consider a Level 3 Survey
✅ Why desktop valuations are becoming more common
✅ Real examples of issues surveys can uncover

Read the full blog here 👇

https://www.mewstonemortgageadvice.co.uk/do-i-need-a-survey-when-buying-a-house-in-plymouth/

Sometimes the best money you spend during the entire home-buying process is understanding exactly what you're buying.

Do I need a survey when buying a house in Plymouth? Learn why a Level 2 or Level 3 survey could save you thousands in repair costs.

09/06/2026

🏡 One of the biggest mistakes we see buyers make is relying solely on the mortgage lender’s valuation when purchasing a property.

Most mortgage lenders now offer a free valuation as part of your mortgage application, which sounds great… and it is. But it’s important to understand what that valuation is actually for.

A lender’s valuation is designed to protect the lender, not necessarily you.

In many cases today, especially in 2026, lenders aren’t even sending a surveyor to physically inspect the property. Instead, they’re using desktop valuations, automated systems, property data, recent sales information and online property records to decide whether the property provides suitable security for the mortgage.

Put simply, the lender wants to know:

✔️ Is the property worth what the buyer is paying?
✔️ If we ever had to repossess it, could we get our money back?

What they are NOT doing is checking whether you’re buying a property with hidden defects.

That’s why we strongly encourage buyers to consider a:

🔍 Level 2 Survey (HomeBuyer’s Survey)
🔍 Level 3 Survey (Building/Structural Survey)

These surveys are commissioned by you and carried out by an independent chartered surveyor whose job is to identify potential issues before you commit to the purchase.

They can highlight things such as:

🏠 Damp and moisture issues
🏠 Roof defects
🏠 Structural movement
🏠 Timber problems
🏠 Drainage concerns
🏠 General maintenance issues

In fact, over the last few weeks alone, we’ve seen two buyers withdraw from purchases after survey reports uncovered significant damp and structural issues that weren’t obvious during viewings.

A survey may cost a few hundred pounds upfront, but it could potentially save you thousands of pounds in unexpected repairs later.

If you’re buying a property, don’t assume the lender’s valuation is a full inspection.

Sometimes the best money you spend during the entire house-buying process is understanding exactly what you’re buying.

09/06/2026

Mike Jones Mortgages has a habit of not pushing his chair in 👀👀

So we hid his chair - it backfired 😂😂😂

Mewstone Later Life Lending
Mewstone Mortgage Advice
Mewstone Wills & Estate Planning

30/05/2026

£5,000 Deposit Mortgage? 🤯

Think you need a huge deposit to buy your first home?

Think again.

Halifax have launched a new mortgage scheme that may help some first-time buyers get onto the property ladder with as little as £5,000 saved.

21/05/2026

“Buying a house is impossible unless you’ve got a massive deposit saved…”

It’s something we hear all the time from first-time buyers across Plymouth and the South Hams.

But what if that wasn’t actually true? 👀

Halifax have launched a new mortgage scheme that may allow some first-time buyers to purchase a property with as little as a £5,000 deposit.

For many renters currently paying high monthly rent whilst struggling to save, this could potentially be a huge opportunity to explore getting onto the property ladder sooner than expected.

We’ve broken the scheme down in simple terms on our latest blog, including:
✅ Who may qualify
✅ How much you may potentially be able to borrow
✅ What monthly repayments could look like
✅ Example budgets for Plymouth buyers
✅ The important rules and restrictions to know about

If you’re currently renting, trying to save, or assuming buying isn’t realistic yet — this is definitely worth a read 👍

Read the full blog here 👇
https://www.mewstonemortgageadvice.co.uk/book-a-call/

Call now to connect with business.

17/05/2026

If you’re a first-time buyer, one of the biggest challenges right now is saving enough deposit to buy a home 🏡

Especially if you’re renting in Plymouth or the South Hams, because rental payments are still incredibly high.

That’s why this new mortgage scheme from Halifax & Lloyds Banking Group is really interesting 👇

From this Monday, some first-time buyers may potentially be able to buy a property with as little as a £5,000 deposit.

There are some conditions:
✔️ You must be a first-time buyer
✔️ Property must be under £300,000
✔️ Deposit must be your own savings

But when you break the numbers down, it starts to feel far more achievable than many people think.

For example 👇

A couple earning around minimum wage at roughly £26,000 each could have a combined income of around £52,000 per year.

Using a rough affordability multiple of 4.5 times income, they may potentially be able to borrow around £234,000.

Add a £5,000 deposit on top and that gives a buying budget of just under £240,000.

At 5.5% over a 35-year mortgage term, repayments would be around £1,250 per month — which realistically isn’t far away from what many people are already paying in rent.

And importantly…

That sort of budget could potentially buy a typical 2-bedroom house in many parts of Plymouth.

A lot of people completely rule themselves out before they’ve actually explored what may be possible 👍

15/05/2026

If you’re a first-time buyer, one of the biggest challenges right now is saving enough deposit to buy a home 🏡

Especially if you’re currently renting… because rental payments in Plymouth and the South Hams are still incredibly high.

The good news? 👇

Halifax & Lloyds Banking Group are launching a new mortgage scheme this Monday that may allow some first-time buyers to purchase a property with as little as a £5,000 deposit.

There are some rules around it:
✔️ You must be a first-time buyer
✔️ Maximum property price of £300,000
✔️ Deposit must be your own savings

But when you break the numbers down, it becomes really interesting 👇

A couple earning around minimum wage at approximately £26,000 each could have a combined income of around:

💷 £52,000 per year

Using a rough affordability multiple of 4.5 times income, they may potentially be able to borrow around:

🏡 £234,000

Add a £5,000 deposit on top and that gives a buying budget of just under:

📍 £240,000

At an interest rate of 5.5% over a 35-year mortgage term, monthly repayments would be around:

💷 £1,250 per month

Which, realistically, isn’t a million miles away from what many people are already paying in rent.

And importantly…

That sort of budget could potentially buy a typical 2-bedroom house in many parts of Plymouth.

Now, this won’t be right for everybody, and affordability always depends on personal circumstances, credit commitments and lender criteria…

But the important thing is this 👇

A lot of people rule themselves out of buying before they’ve actually explored what may be possible.

If you’d like to understand more about how this scheme works or whether it may be suitable for you, it’s always worth having a conversation 👍

13/05/2026

At Mewstone Mortgage Advice, we help clients across Plymouth, the South Hams and the surrounding areas understand what’s realistically possible when it comes to buying a home, remortgaging, or planning their next move.

One of the biggest challenges people face at the moment is simply knowing what the “right” thing to do is. Interest rates, house prices, news headlines and social media opinions can make the whole process feel overwhelming very quickly.

That’s why our job isn’t just arranging mortgages — it’s helping people properly understand their options, what the numbers actually look like, and what may or may not work for their own circumstances.

Sometimes a simple conversation and a few realistic examples can make things feel far clearer and far less stressful.

Whether you’re:
• buying your first home
• moving house
• remortgaging
• self-employed
• worried about rising rates
• or just unsure where to start

we’re always happy to have a conversation and point you in the right direction 👍

13/02/2026

This was such an amazing evening - raising money for a local charity - we can’t wait to do this again in the summer - thank you so much for letting host this event with you Hugs Childrens Cancer Charity 💛🖤💛🖤💛🖤

Thank You, Mewstone!

We are incredibly grateful to Mortgage Advice for raising an amazing £1,495.71 at their Cheers for Children event in December! 🥂✨

It was such a fantastic evening, and we’re so thankful for the energy, generosity and ongoing commitment you show in supporting Hugs Children’s Cancer Charity. Not only did you raise vital funds, but you continue to help raise awareness of the work we do for families across Devon and Cornwall facing childhood cancer.

Support like this truly makes a difference

Thank you for standing alongside us and the families we support, we are so grateful for your continued partnership. 💚💜✨