​​1. Do I need a big deposit to get a mortgage?

Not always. Some lenders offer mortgages with as little as a 5% deposit, although the options may depend on your personal circumstances, credit history and income.

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2. What’s the difference between fixed-rate and variable-rate mortgages?

• Fixed-rate: Your interest rate stays the same for an agreed period (e.g., 2–5 years).

• Variable-rate: Your rate may change in line with the lender’s standard variable rate or the Bank of England base rate.

We’ll explain both and help you decide which is right for you.

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3. How much can I borrow?

This depends on your income, outgoings, credit profile and the lender’s affordability checks. As a general rule, lenders may offer up to 4.5x your annual income, but this varies.

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4. What fees do I need to pay?

There may be:

• Lender fees (e.g., arrangement or booking fees)

• Valuation fees

• Solicitor/legal fees

• Our adviser fee (if applicable, always disclosed upfront)

We’ll provide a Key Facts Illustration (KFI) before you proceed so all costs are clear.

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5. Can you help if I’m self-employed?

Yes. We regularly help self-employed clients, contractors and freelancers. You’ll usually need 2–3 years of accounts or tax returns, but some lenders may accept less.

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6. How long does the mortgage process take?

On average, 4–8 weeks from application to completion but it can be quicker or slower depending on the lender and solicitors involved.

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7. Do you charge for your service?

We may receive commission from the lender. In some cases, we may also charge a separate advice fee — this will always be made clear before you proceed.

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8. What happens if I want to remortgage?

You can switch to a new deal when your fixed/introductory rate ends. We’ll review your options to make sure you don’t slip onto a higher variable rate.

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9. Are you independent?

Yes, we are a whole-of-market mortgage broker, which means we can access a wide panel of lenders to find the right product for you.

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10. Will applying for a mortgage affect my credit score?

Most lenders carry out a hard credit check when you apply. Too many applications in a short time can negatively impact your score, which is why it helps to let us source the right deal before you apply.

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

 

Brewood Mortgages is a trading style of Clever Finanicial Solutions Limited, authorised and regulated by the Financial Conduct Authority (FCA No. 798168).