Googling mortgage advice or asking AI helpers like ChatGPT how to buy a home? You’re not the only one. At Oportfolio Mortgages, we totally get how overwhelming mortgages can be, especially with so much confusing information on the internet. We’ve gathered and answered the most frequently Googled mortgage questions in the UK to leave you feeling well-informed, confident, and ready to go.
What is a mortgage?
A mortgage is a form of loan to buy property. You repay it in monthly instalments, with interest. If you fail to make the repayments, the lender is able to take over the property.
How much will I be able to borrow on a mortgage?
The majority of lenders in the UK will lend you 4 to 4.5 times what you earn annually. Your credit rating, monthly outgoings, and size of deposit will also be factors.
Tip: Use an online mortgage calculator or ask a broker (like us!) for a personalised quote.
How much deposit do I need to pay for a house?
Minimum deposit is typically 5% of the property price. Bigger deposit (10–25%) can get you better rates.
Example:
5% deposit on a £300,000 home = £15,000
10% deposit = £30,000
Fixed vs variable mortgages: what’s the difference?
Fixed-rate mortgage – The rate is fixed over an agreed period (usually 2–5 years).
Variable-rate mortgage – The rate may change, depending on the lender or Bank of England base rate.
Variable mortgage types:
Standard Variable Rate (SVR)
Tracker mortgages
Can I get a mortgage with bad credit?
Yes, but maybe at a greater expense. You might need to pay a larger deposit or accept a poorer rate. We have access to specialist lenders who lend money to borrowers with credit issues.
What are current UK mortgage rates in 2025
As of August 2025, fixed-rate mortgages range from 4% to 6%, depending on your deposit, term, and lender. The rates change all the time, so it’s always best to have a chat with a mortgage adviser to scout out offers available.
Can I get a mortgage if I’m self-employed?
Yes. You’ll typically need:
- 2+ years’ accounts or SA302s
- A consistent income history
- A reasonable deposit (10–15%+)
We’re specialists in securing self-employed borrowers the best mortgage deals.
What are mortgage charges?
- Typical mortgage charges include:
- Lender arrangement fees
- Valuation fees
- Legal/conveyancing fees
- Broker fees
- Stamp Duty (if applicable)
We’ll break down all the fees at the start so you get NO surprises.
How long does the mortgage application take?
A typical application is 2–6 weeks, subject to:
- Your personal circumstances
- Lender timescales
- Property surveys
- Legal processes
It’s best to start with a broker like ourselves at Oportfolio, to save time.
When do I Need to think about remortgaging?
You can start shopping around for a new mortgage 4–6 months before your current deal ends. This avoids being rolled onto a pricier Standard Variable Rate and saves you money. And if you book an appointment for a free remortgage consultation with us, it could save you thousands.
Do I need a mortgage broker?
You don’t necessarily need one, but employing a mortgage broker could:
- Put you in contact with special deals
- Save hassle and time
- Help with complex situations
- Improve approval potential
From purchasing your first home, relocating, remortgaging, to investing in property, having transparent, expert guidance makes a huge difference. With differential rates and lender conditions, professional advice is more important than ever in 2025.
Need Help With Your Mortgage? Speak With Oportfolio Today.
Oportfolio Mortgages is an award-winning, client-centred mortgage broker with access to hundreds of lenders. We are experts at keeping mortgages simple at Oportfolio Mortgages. You may be a first-time buyer, self-employed, or need advice on remortgaging, and our trained advisers are ready to take you through every step. Call us today.
