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Why Choose Ascot Mortgages
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Written by:
Alison Gibson
Ascot Mortgage Expert
Last Updated:
14.05.2025
Written by:
Alison Gibson
Ascot Mortgage Expert
Last Updated:
14.05.2025
Find your perfect mortgage deal
Your Mortgage, Made Easy: Compare mortgage deals and find the right mortgage quote with Ascot Mortgages
At Ascot Mortgages, we understand that finding the right mortgage deal is one of the most important financial decisions you’ll ever make. Whether you’re buying your first home, moving to your forever home, investing in a buy-to-let, or simply looking to remortgage for a better rate, we are here to help you every step of the way. Based in Warrington and working with clients across the UK, Ascot Mortgages offers personalised mortgage advice you can trust. Our experts help you compare mortgage deals, secure a tailored mortgage quote, and guide you through the process with confidence.
What is a mortgage?
A mortgage is a loan secured against a property and used to help when buying a property. The loan is secured against the value of your home, meaning the lender can repossess the property if you do not keep up with the monthly repayments. Mortgages are needed for most homebuyers because not many people have the cash available to buy the property outright. Whether you’re a first-time buyer, home mover, or investor, understanding your mortgage options is key to making informed decisions.
Mortgage Repayment Calculator
What can you use a mortgage for?
There are several reasons you might need a mortgage:
- First time buyer: Buying your first home, there are certain product available only for first time buyers, sometimes offering better terms or improved affordability
- Homemovers: Buying your next or forever home
- Remortgaging: Changing your existing mortgage due to your current rate ending e.g. reaching the end of the fixed period. It is also possible subject to the amount of equity in your property to release some of the equity to raise additional funds for things like home improvements
- Buy-to-let: Purchasing a property to rent out, you will usually need a larger deposit for buy-to-let purchases
- Second homes: Buying a holiday home or a second property
- Shared ownership: A scheme that enables you to buy a smaller percentage of the property so needing a smaller deposit and paying rent for the portion you don’t own
- Self-build mortgages: Financing the construction of your own home
How to get a mortgage
The process of obtaining a mortgage involves several steps:
- Assess your finances: Understand your income, outgoings, and credit history
- Get a mortgage quote: Speak to a broker like Ascot Mortgages to find out how much you could borrow
- Get an Agreement in Principle (AIP): A conditional offer from a lender that helps when house hunting
- Submitting full application: Send the lender the fully completed application along with supporting documentation (ID, payslips, bank statements)
- Property valuation: The lender will complete a check of the property’s value and assess its suitability to lend money against
- Mortgage offer: Once the lender has completed all checks and given approval you’ll receive a formal mortgage offer
Our Warrington mortgage experts make the process smooth and straightforward, they take complete ownership of dealing with the lender, solicitor and estate agent.
Different types of mortgage rates
When you compare mortgage deals, it’s crucial to understand the different rate types:
- Fixed-rate mortgages: The interest rate is fixed for a set period of time. This is typically for 2-5 years but there longer-term fixed rates up to 10 years and some that are even longer.
- Variable-rate mortgages: There are different types of variable rate mortgages
- Tracker mortgages: the interest rate charged is directly linked to the Bank of England base rate. The rate charged will track this rate by a set percentage, this means that if the Bank of England change the base rate your rate will change but the same amount, it can go up or down. These are typically for 2-5 years but there are lifetime trackers available.
- Discount mortgages: This rate is linked to the lender’s Standard Variable Rate (SVR) and is discounted by a set percentage from their SVR for a set period of time, usually 2-5 years. A lender can decide to change this SVR whenever this wish so can go up or down.
- Standard Variable Rate (SVR): This is the rate that mortgage lenders charge when your introductory rate has ended. This is usually much higher than the fixed or discounted rate you could get on a new rate.
Choosing the right rate can save you thousands over the term of your mortgage.
Different mortgage options available
Outside of rate types, there are other mortgage types to consider:
- Repayment mortgage: This type of mortgage, the monthly payment is made up some the loan and interest so by the end of the mortgage term you have repaid the amount originally borrowed and the interest meaning you own the property outright.
- Interest-only mortgage: With this type of mortgage, as the name suggest you only pay the interest of the mortgage each month. This means the monthly payments are lower but it also means at the end of the term, you must repay the full loan amount originally borrowed. The lender will assess as part of the application the ability for you to be able to repay the loan at the end of the term e.g. looking to downsize so selling the property will repay the loan and the equity will allow you to buy your next home
- Offset mortgage: With an offset mortgage is links a designated savings account and the funds available in that account to your mortgage balance to help reduce your interest payments. The amount held in the account ‘offsets’ against the mortgage balance outstanding, reducing the amount your pay interest on. For example, if you have a mortgage of £200,000 and savings of £30,000, you’ll only pay interest on the net amount of £170,000. Offset mortgages can be attractive if you have significant savings.
Flexible Mortgage Features
Some mortgage deals come with flexible features allowing you to choose a mortgage that suits your lifestyle and changing circumstances:
- Overpayments: Mortgages that allow you to pay more than your monthly amount to reduce your loan faster, typically lenders will limit this overpayment amount to 10% of the mortgage balance without incurring a penalty but there are some products available that allow unlimited overpayments
- Payment holidays: Temporary breaks in payments which is usually linked to overpayments that have been made. If overpayments have been made a lender may allow you to take a payment holiday to the value of the overpayments made.
- Portability: Some mortgages will allow you to take your mortgage with you if you decide to move, this is great if you decide to move and you are still in your fixed rate period and liable for early repayment charges as moving your mortgage with you means these are not payable
- Underpayments: Similar to the payment holiday, if you have previously overpaid your mortgage the lender may allow you to make lower monthly payments if you experience a period of financial difficulty
Flexibility can be invaluable if your income fluctuates or your circumstances change.
Mortgage fees and costs to consider
It’s important to budget for more than just your monthly repayments. These are the common fees you might have to pay when taking out a mortgage:
- Arrangement/product fee: this is a fee paid by the lender charged by lenders for setting up the mortgage. These fees vary lender by lender and product by product. The fee may be a percentage of the loan or a fixed amount and can usually be added to the loan or paid upfront.
- Booking fees: Some products offer this type of fee to ‘reserve’ the product and is paid upfront, this will not be refunded if you decide not to proceed.
- Valuation fees: this fee is for the lender to assess whether the property is suitable security for them to lend on and confirm it is worth the price being paid for it. There are certain circumstances where lenders offer this for free.
- Solicitor/conveyancing fees: When buying a property you will need to instruct a conveyancer to manage the legal aspects of the transaction
- Broker fees: Some brokers charge for advice, these can be paid upfront or during the process
- Early repayment charges (ERCs): Most mortgages usually have an early repayment charge if you decide to leave the mortgage early e.g. during the fixed rate period
We’ll always be transparent about fees and help you weigh up the true cost of any mortgage quote and taking into consideration what is on offer across the market.
Ascot Mortgage Expert
What Our Expert Says...
Mortgages help many people buy their dream homes. However, choosing the right mortgage can be tricky due to the many options available. Whether you’re buying for the first time or considering a new mortgage, good advice is key. Always remember, mortgages are long-term deals, so make sure you choose wisely. I am here to help guide you to the right decision. Don’t hesitate to seek expert advice when you need it.
How much can I afford?
Lenders use affordability assessments to decide how much you can borrow, each lender offers a different affordability assessment emphasising the importance of using a broker like Ascot Mortgages. They consider:
- Your income including basic salary, bonuses, pension, allowances and some benefits
- Your monthly outgoings including loans, hire purchases, food, gym, household expenses etc
- Your credit score and history
Typically, lenders will look to borrow between 4–5 times your annual income, but the amount of debt and committed outgoings will play a large role in what the lender finally agrees to lend.
Use our free Mortgage Calculator to estimate how much you could afford or speak to one of our Warrington mortgage specialists for personalised advice.
Mortgage calculators
At Ascot Mortgages, we provide easy-to-use tools to help you plan:
- Affordability calculator: See how much you might be able to borrow
- Repayment calculator: Estimate your monthly payments based on the amount you are looking to borrow
- Stamp Duty calculator: A quick and easy calculator to work out the amount of Stamp Duty tax due on your property
These tools offer quick estimates, but for tailored advice, we recommend speaking to one of our brokers to get a personalised mortgage quote.
How to improve your chances of getting a mortgage
There are several ways you can boost your chances of a successful mortgage application:
- Improve your credit score: Ensure you pay bills on time, reduce your debts, and avoid unnecessary credit applications
- Save a larger deposit: A bigger deposit (especially over 10% or 20%) opens up better mortgage deals
- Reduce debt: Lenders prefer lower debt-to-income ratios
- Organise your documents: Be ready with your ID, payslips, and bank statements
- Get advice: Working with a broker can significantly improve your options as they know and understand lenders criteria and lending policy
We can guide you through improving your mortgage profile to secure the best possible deal.
Why choose Ascot Mortgages?
At Ascot Mortgages we are proud to offer:
- Independent advice: Access to thousands of mortgage deals from across the market
- Experienced advisers: Years of expertise helping clients find a mortgage for all different circumstances
- Local knowledge: Specialists in supporting clients with mortgage advice in Warrington and the Cheshire area
- Personalised service: We treat every client as an individual and aim to support you and your family with all mortgage and protection needs
- Transparent fees: No hidden surprises
We work tirelessly to help understand your needs and circumstances, review the available mortgage deals, secure the right mortgage quote, and complete your property journey smoothly.
An interest-only mortgage involves paying just the interest on the loan and nothing off the capital – the amount you borrowed.
Based on a mortgage of £300,000 at 75% LTV and 25 years Today’s best buy mortgages
Latest mortgage best buys
See all mortgage best buysSpeak with Us Interest Rate Mortgage Type Monthly Repayment Amount Total Fees Max LTV 
4.14% Fixed £1,219 £30 75% 4.18% Fixed £1,216 £1,025 75% 4.18% Fixed £1,215 £999 75% 4.20% Fixed £1,220 £1,403 75%
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Frequently Asked Questions
Typically 2–6 weeks, depending on your situation and the lender’s processing times. The process starts with getting a Decision In Principle, completing the mortgage application and submitting all supporting documents, the lender assessing all information, getting the property valued and formal approval by the lender via a mortgage offer.
It is possible to apply directly to lenders, the advantage of a mortgage broker like Ascot Mortgages is they can help you find better deals, navigate complex situations, and increase your chances of approval.
An agreement in principle or decision in principle is a conditional offer of a mortgage subject to assessing a full application and completing a property valuation. They are usually valid for 30-60 days. When viewing properties estate agents will want to know whether you are able to get a mortgage so will ask if you have an agreement in principle to know that you are able to borrow the amount needed.
Yes, although your choices may be limited. There are specialist lenders that offer solutions for people with credit issues although these aren’t always available for customers directly. Speak to us for advice tailored to your situation.
Typically you need at least 5% of the property value as a deposit. However, putting down 10%, 15%, or 20% can unlock lower interest rates. The deposit doesn’t have to come from your own savings, it could be a gift from a family member to.
All lenders require you to have buildings insurance, this is to ensure the property is protected which they have lent the money against. This needs to start from when you exchange contracts. There is also life insurance and income protection insurance that is worth considering.
Depending on what rate you opt for will depend on what happens. If you’re on a fixed-rate mortgage, your payments won’t change until your fixed period ends. If you have a variable rate, your payments could increase. It’s wise to discuss your options with us.
Yes, as with all types lenders want proof of income, for self-employed applicants this is typically the last 2 years accounts and/or SA302s from HMRC, some lenders may ask for 3 years
Finding the right mortgage starts with the right advice. Whether you’re a first-time buyer, home mover, or remortgaging, Ascot Mortgages can help you compare mortgage deals quickly and easily.
Get in touch with our Warrington mortgage specialists today for a free, no-obligation mortgage quote.
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Legal
Ascot Mortgages authorised and regulated by the Financial Conduct Authority and can be found on the FCA register (www.fca.org.uk) under reference 776062. The FCA do not regulate some forms of mortgages. The guidance and advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK. There may be a fee for mortgage advice. The precise amount will depend upon your circumstances but we estimate it will be £599 per mortgage account. Ascot Mortgages Ltd give you the option to pay a non-refundable fee of £1299 payable with the application. If this option is taken, Ascot Mortgages Ltd will refund any procuration fee received by the lender.
Ascot Mortgages Limited is registered in England and Wales and have their registered office at 8 Webster Court, Westbrook, Warrington, WA5 8WD. The company’s registration number is 06764971.
We are a credit broker, not a lender. We work with the whole of the lending market. We may receive commissions that will vary depending on the lender, product, or other permissible factors. The nature any commissions model will be confirmed to you before you proceed.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT
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