An Introduction to Mortgages

Maplestone makes mortgages easy to understand and finds the right deal for you. A mortgage is simply a type of loan that helps people buy their dream home or investment property.

Where to Find Mortgages

You’ll find mortgage options from various providers including high street banks, building societies, and other lenders outside the big-name banks. At Maplestone, we offer a mortgage service that is transparent, professional, friendly and that’s suited to your goals.

Key Factors We Consider

Affordability

We want to make sure your mortgage works for you, not the other way around. So, before you buy, we’ll take a good look at your financial situation to see if the monthly mortgage payments fit comfortably within your budget. We won’t count the rent you’re paying now, but we will consider the likely monthly mortgage payment to be sure it’s manageable for you.

Deposit

Your deposit makes a big difference. A bigger deposit can mean lower monthly repayments and a better overall deal. In today’s market, most lenders look for a minimum deposit of around 5% of the property’s value.

Property Value

We’ll base your mortgage on the property’s appraised value, not just the agreed purchase price. To help protect you and your investment, the lenders will arrange a valuation from a trusted, qualified surveyor. That way, you’re fully informed before committing to your new home.

Property Type

Some properties can be trickier to finance. For example, leasehold properties, homes under certain value thresholds, and those in assisted purchase schemes may be outside standard lending criteria. If your property falls into any of these categories, our team will walk you through the options and help find a solution.

Loan Term

Every mortgage comes with a timeframe for repayment. Typically, you can spread repayments over several years, depending on what works best for your goals and financial plans.

Maplestone is committed to helping you navigate each of these factors so that you can buy your property with confidence. Our specialist mortgage experts are here to help you.