NO. You are under no obligation whatsoever by asking us for assistance with your mortgage requirements. We will be happy to discuss your situation and recommend suitable products to meet your needs at no cost to you.

Although many lenders still use income multiples to work out how much they will lend more companies are utilising sophisticated software to underwrite on an 'affordability basis' taking into account numerous factors to produce a tailored income multiple. This method often leads to higher income multiples for professionals, those borrowing at lower loan-to-value ratios, those with no dependents or other credit commitments and those whose credit score is higher than average. As a rough guide most people can borrow 4 times a single income plus the second income (if a joint application) or 2.75 times joint incomes. Income is generally treated as annual income less the annualised repayments to other credit commitments. Because each case is different we would advise you submit your details via the enquiry form.

As long as your borrowing is within the lenders limits you can raise funds to consolidate other loans and credit cards, home improvements, a deposit for a second property, divorce settlement or for virtually any legal purpose.

Many lenders offer mortgages with terms up to 30 years and some go to 40 years. Age at retirement can be a restricting factor, with some lenders only lending up to age 65.

Many lenders these days accept mortgage applications online and the initial part of this procedure normally results in a 'decision in principle'. That is to say the lender will agree to lend you the amount you have applied for assuming all the information provided electronically can be verified at the time the full application is made. You should bear in mind that applying for a decision in principle may affect your credit score and your ability to obtain a mortgage elsewhere if you do not proceed. If you want to know how much you are likely to be able to borrow we suggest you submit an enquiry, especially if your circumstances are such that your chosen lender would be unlikely to issue you with a positive decision.

Only if you are buying your council house can you borrow more than the purchase price and in this situation the extra funds can only be used for home improvements. In all other cases, the maximum loan available in the current economic climate is 90% of the purchase price or valuation, whichever is the lowest.

This is the Annualised Percentage Rate and aims to show the actual annual interest rate charged by a lender over the term of the mortgage. It differs from the published rate for several reasons the main ones being as a result of introductory discounts or fixed rate periods and the method by which the lender calculates the interest it charges you. The latter is often referred to as the 'rest period' which can be daily, monthly or yearly. Lenders using a yearly rest period apply your schemes interest on the balance outstanding at the start of the year. Quite clearly, as the year progresses each monthly payment you make will reduce your mortgage debt but the lender does not use this reducing balance to calculate the interest it charges you. As a result the APR, the actual rate at which you have been charged is higher than the scheme rate. At the opposite end, a daily rest period will ensure that whenever there is a change to your mortgage balance, either as a result of monthly payments or a lump sum payment, it will be taken into account immediately. APR has several shortcomings not least in the fact that it assumes you make every payment on time and you stay with the same lender on the same scheme for the life of the mortgage......something of a rarity these days!

When applying for a mortgage the following fees may become payable; Valuation fee: Paid to the lender on application. Booking fee: Usually in association with fixed rate deals, paid to the lender on application to reserve funds on a particular scheme. Arrangement fee: Charged by many lenders these days, it can be payable on application, on completion or be added to the amount borrowed. Broker's fee: Paid to a broker either on application or on completion by deduction from the mortgage advance. Usually in the region of 1-3% of the loan amount, i.e. £1,000 to £3,000 on a £100,000 mortgage. Mortgage & Property Centre DO NOT charge a brokers fee. Compliance levy: This fee is charged by Mortgage & Property Centre to help cover the cost of compliance procedures imposed on us by the Financial Services Authority. We have to pass this cost on to our customers as we do not charge a brokers fee. The compliance levy is currently set at between £195.00 and £595.00 depending on case type and is payable on application and refundable if we are unable to obtain you a mortgage offer. Several lenders market schemes which have valuation fees refunded or free valuations. Many remortgages are available with both free valuations and free conveyancing and are often referred to as 'fee-free' remortgages. Other mortgages are available which offer varying amounts of 'cash-back' which may be used to cover the various fees involved. If you are applying for a small mortgage it is essential that you choose, if at all possible, a scheme which has minimal fees as you would be unlikely to recover any substantial fee element even with the biggest of discounts. If you are at all unsure how to make an accurate comparison of mortgage schemes we suggest you submit an enquiry to us and we will be happy to help.

Yes, we can instruct a competitively priced firm of solicitors for you who will deal with you by post and email so as you do not have to take time off work to visit their offices. In such cases we would be happy to provide assistance with completing any of their paperwork should you need it.

There are three main types of survey that you can select from when purchasing a property. The basic valuation for mortgage purpose is what the lender will organise in every case. If you feel you need a more in depth survey then you can opt for a full structural report or a homebuyers report, which is a sort of half way house between the two. See our Tell Me More page for more information on each type.

If you would like to be able to pay off your mortgage early, either following a windfall or an inheritance, or by increasing your monthly payments or paying occasional capital sums then you need to make sure that redemption penalties will not apply at the time. It is possible to overpay by 10% of the original amount borrowed without incurring redemption penalties on some schemes. If you need the ability to reduce your balance more than this then you should opt for a mortgage which has no redemption penalties whatsoever which will enable you to pay any amount off the balance at any time. You should also refer to the APR section and take note that overpayments will be most effective on a mortgage which has daily interest calculations. If you are not sure of your figures you should submit an enquiry and we will be happy to help.

If you have opted for a discount, fixed or capped rate then it is likely to apply for only a number of years of the mortgage term. Your 'mortgage key date' is the date when your scheme benefits come to an end and you are free to consider changing to another lenders discount, fixed rate or whatever is most appropriate for your circumstances at the time. You should contact us 6-8 weeks before your current deal ends and we will be able to arrange, if appropriate, a new scheme to suit your situation. Reviewing your mortgage in this way will ensure that you will always have the most appropriate and financially beneficial mortgage at all times. You can contact us to get your review started by sending an email to admin@mpcuk.com or by calling our customer service number which is 0115 983 5797.

A remortgage takes approximately 6-8 weeks from application to completion. Purchases can take from 6 weeks onwards depending on any other buyers/sellers in the property chain. The time it takes can depend on several factors including how quickly you supply any documentation required and how quickly paperwork is returned to us. Most mortgage applications are submitted online and in many cases the decision to offer is given within seconds. All that remains is to get the valuation carried out and the relevant paperwork forwarded to the lender. Submit your enquiry now to get the ball rolling.

Mortgage & Property Centre is authorised by the Financial Services Authority who regulate the way in which we carry out our business and have a policy of 'treating customers fairly' which we have to comply with. It is also a stipulation that we hold professional indemnity insurance to levels set by the FSA to cover our advising and arranging of both mortgages and insurance contacts. Further to this, should you have a complaint which you feel we have not dealt with fairly you may ask to have it referred to the Financial Ombudsman Service whose decision on such cases is independent and binding on us as a company. We hope such cases never come about and we provide all our customers with contact numbers for their personal adviser so that they may be contacted 24-7 should the need arise.

We provide our services to people living in all parts of the British Isles. If we are unable to visit you because of your location we have procedures in place to handle your enquiry by post, fax or email.