How Do Mortgage Lenders Calculate Your Income? What’s the Maximum They’ll Lend?
When it comes to getting a mortgage, most people just want to know one thing: “How much can I borrow?” The answer isn’t one-size-fits-all, because lenders assess your income, outgoings, and overall financial health before deciding how much they’re willing to lend. Let’s break it down. How Do Lenders Calculate Income? Lenders typically assess […]
Can You Get a Shared Ownership Mortgage with Bad Credit?
Buying your first home is exciting, but if you have bad credit, you might be worried about your chances of getting a mortgage especially with a Shared Ownership scheme. The good news? It’s still possible! It might take a little extra work, but with the right approach (and some expert help), you can make your […]
Do I need to use a Mortgage Broker?
Getting a mortgage can feel like a minefield. There’s so much jargon, paperwork, and stress involved, and if you’ve got a slightly tricky situation like being self-employed or having a few credit blips it can feel even harder. At Clever Mortgages, we know just how overwhelming it can be. That’s why we do what we […]
Getting a Mortgage with Variable or Non-Mainstream Income: What You Need to Know
For many people, getting a mortgage is a straightforward process, show your payslips, prove your income, and get a decision. But for a growing number of people in the UK, it’s not that simple. If your income doesn’t come in a neat, predictable monthly salary or if it fluctuates due to how or when you’re […]
Self-Employed or Have a Complex Income? Getting a Mortgage Isn’t Out of Reach
At Clever Mortgages, we speak to people every day who’ve been turned away by their bank simply because they don’t fit into the “traditional” salary box. Maybe you’re self-employed, a contractor, juggling multiple income streams or all three. And perhaps you’ve been told, “Sorry, you don’t meet our criteria.” But here’s the truth: Just because […]
Credit Reports and Mortgages: What You Need to Know
When applying for a mortgage, one of the biggest factors that lenders consider is your credit report and credit score. But here’s the catch—not all credit scores are the same, and what you see on a credit checking app might be completely different from what your mortgage lender sees. Many people get caught off guard […]
Joint Beneficiary vs. Tenants in Common: What’s the Difference?
When buying a property with someone else, one of the key decisions you need to make is how to own the property together. The two main ways to do this in the UK are as Joint Beneficiaries (Joint Tenants) or Tenants in Common. Each option has its own benefits and drawbacks, so it’s important to […]
Where Are Mortgage Interest Rates Heading in 2025?
If you’re thinking about buying a home or remortgaging this year, you’re probably wondering where mortgage interest rates are headed. The good news? Inflation is dropping, and that could mean interest rates might follow. But it’s not quite that simple. Why Do Interest Rates Matter? Interest rates determine how much you pay on your mortgage […]
How Klarna and Buy Now, Pay Later Schemes Could Affect Your Mortgage Application
If you’re thinking about buying your first home, you might be wondering if using Klarna or other ‘buy now, pay later’ (BNPL) services could cause issues with getting a mortgage. Spreading out payments can be super helpful, but it’s worth knowing how lenders might see it. Will Klarna Stop You from Getting a Mortgage? Not […]
First-time buyers: How to tackle affordability challenges in 2024
Following a year of mortgage rate hikes, is 2024 going to be a better year for first-time buyers to make their move into homeownership?
We’ve helped 1000s of customers, and still counting!
We’ve made it our mission to help as many people as possible find their perfect mortgage, specialising in helping people with a bad credit history or previous credit issues – we think everyone deserves a chance to remortgage or own their dream home! Difference between going direct to a lender and seeking the advice of […]
Can I get 100% mortgage with 0% deposit?
Usually, lenders require at least a 5% deposit to readily provide a mortgage. A higher deposit means you’ll be eligible for more lenders and products, plus access to better rates- however, this isn’t always an option for first-time buyers in the current market. For those who can’t save up a deposit, or those who want to get onto the property ladder as soon as possible, there are other routes you can take that involve a much smaller, or no deposit.
Is The Help To Buy Scheme Really Helping?
A new report by the National Audit Office (NAO) shows that many of people on the Help to Buy scheme could have afforded a house regardless – now some of those buyers are in negative equity, and in a situation far worse than if they’d gone it alone. Firstly, what is the Help to Buy […]
Myths around mortgages and credit scores
Your credit score is one of the most important pieces of information about you when it comes to borrowing money. Mortgage lenders use your credit record to help them make a decision on whether they should lend to you. However, despite their importance, there’s still a lot of misunderstanding and confusion around credit scores and what they mean.
Top tips for getting a mortgage
When you’re looking to buy your first home, getting a mortgage will be your top priority. You will want to do what you can to get the best chance of being approved. Here we look at the top ways you can increase your chances of getting a mortgage.
