Mortgage Sorter
Recommended UK Mortgages


Mortgage Guide Contents

Mortgage Basics Contents


 

 

How to avoid paying a higher-lending fee

Many mortgage lender charge a higher-lending fee if you borrow a high proportion of your property's value typically 90 per cent or above.

This can also be called an indemnity guarantee, additional security fee or mortgage advance premium.

But you don't need to pay this.

One way to avoid paying a higher-lending charge is to buy a slightly cheaper property, allowing you to borrow a lower percentage of its value.

If this doesn't appeal, there are ways to get the property you want, without having to pay. You could

Choose a lender that doesn't charge

A minority of lenders don't apply higher-lending fees. An independent financial adviser will be able to tell you which ones might suit your borrowing needs. If none of them do

Borrow just below the threshold

There are several ways to achieve this

Save a little longer. This will enable you to put down a bigger deposit.

Pool your resources. If you're buying alone, join forces with a friend and buy together but get a lawyer to draw up an agreement about what you'll do in future if one wants to sell and the other doesn't.

Borrow interest-free. Get a small interest-free loan from a friend or relative to boost your deposit.

Get a loan. Use a low-cost personal loan to make up the difference. The interest rate will be higher than on your mortgage, but provided you borrow the smallest amount you can get away with, over the shortest term you can afford you'll pay it off much faster, so it will work out cheaper.

To find out more about early redemption penalties, read Early redemption penalties explained and How to avoid paying an early redemption penalty.

Read On / Mortgage Basics

What is a mortgage?

A basic summary of the rules

The choices you need to make

How much can you borrow?

How do you prove your income?

How long are mortgages usually for?

What will happen to interest rates?

 

Read On / Mortgage Guide

How to Choose your Mortgage

Types of Mortgage

Remortgages

Where to Find your Mortgage

Getting a Mortgage in Principle

Costs of a UK Mortgage

Your Mortgage TOP TIPS

Calculators

A to Z all UK Mortgage Types

 

Read On

Guide to Buying Home in the UK

Guide to UK Home and Mortgage Insurance

Life Insurance Guide

Glossary of UK Mortgage Terms

Mortgage News

 


 


To read more on this subject please see the list below or your mortgage guide or your home buying guide

Read enough? Just want a quote? To get your best mortgage quote quickly and easily we can put you in contact with a recommended mortgage adviser. It's free, completely confidential and there's no obligation at all. Simply fill out the form below

Value of Property £  
    (eg 125000)
Borrow How Much? £
    (eg 92500)
Your Morgage Type

 

 

 

Read more about Mortgage Basics

See contents of Full Mortgages Guide

See contents of Home Buyers Guide

I've read enough for now and want to get a free Quick Mortgage Quote

 

 



Mortgage Basics


What is a mortgage?

A basic summary of the rules

How much can you borrow?

How do you prove your income?

How long are mortgages usually for?




See contents of Full Mortgages Guide

See contents of Home Buyers Guide

I've read enough for now and want to get a free Quick Mortgage Quote

 

 

 

 

 

 



How to get a Mortgage in the UK

Here we give you a step by step guide on how to get a mortgage with special tips

TOP TIPS

 

 

 

 

 

 


 

Get a custom rate and see
how much you could save by
filling out this quick form
below.

It's a FREE, no-obligation service.

Value of Property
£
 (eg 159000)
Borrow How Much?
£
 (eg 125000)
 Your Morgage Type
   











Browse over 200 Free Mortgage Tips

Your Complete Guide to UK Mortgages
Find Out How to Win the Race to Buy Your Home - Home Buyers Guide
How to Sell Your Home
Learn How to Save ££s by Remortgaging
Read the Insider Info on Home Insurance
Best Buy UK Mortgage Tables
UK Mortgage Calculators
First Time Buyers
Self Employed Mortgages
Bad Credit Mortgages
Overseas Mortgages
Common Questions / FAQs
Mortgage Definitions
Mortgage Lenders UK List
LATEST MORTAGE UK NEWS

Site Help

About Us
Your Privacy
Contact Us
HELP
Mortgage Guide Site Map
Tip Our Charity






Social Bookmark Us (Please ;-))
























 

 

 

 

 

FREE MORTGAGE QUOTES
Call 0845 22 33 112
or Apply Online Fast and Easy
 
Great Selection of
UK Mortgage
CALCULATORS

Click here
  
See Today's Latest
Mortgages
BEST BUY TABLES

Click here