Mortgage Comparison You Can Trust
Whether you are buying your first home, looking to remortgage, or are expanding your property portfolio, our Trusted Providers can help you to find a mortgage that is right for you. At WeTrust, we understand that your mortgage is likely to be one of the biggest commitments you ever make, which is why we only offer mortgage comparison from companies that our customers trust.
Why Choose WeTrust
WeTrust is a cost comparison website without a hidden agenda. We don’t promote products based on commission or entertain secretly paid-for advertising. We exist to help you save money in the long term by giving you an honest view of the market. A chance to compare deals with complete transparency, without having to worry about hidden charges or sneaky promotions.
When you search with WeTrust, you can rest assured that you’re getting competitive, unbiased quotes from a business and community that has your best interests at heart. We’re fighting for you and doing everything we can to keep your hard-earned cash firmly in your pocket.
Stop overpaying and find out if you could be saving money on your household and business bills. Start your comparison today and get results in minutes.
How Does a Mortgage Work?
A mortgage is a long term loan, usually from a bank or building society which enables you to purchase property. The amount that you can borrow will be based on factors including your income, outgoings, and age. Your mortgage lender will also take into account the value of the property which you are buying, and the deposit which you have.
Mortgages are subject to interest, so you pay interest on the amount borrowed. There are a range of deals available – some offer fixed interest rates which are set for a specific amount of time, other will track your rate according the Bank of England base rate, and others offer an ‘interest only’ option – which means that at the start of the term, you are paying off the interest only.
It’s worth speaking to one of our Trusted Providers to understand what type of mortgage would be right for you.
How To Get a Mortgage as A First Time Buyer
Stepping onto the property ladder for the first time can seem daunting, but there are a range of deals available for first time buyers.
How Much Deposit Do I need for Mortgage?
This will very much depend on the lender, and the type of mortgage you are looking for. Generally speaking the minimum you will need is a 5% deposit of the value of the property which you are looking to purchase. However, in most circumstances, a higher deposit will mean that you get a more favourable rate on your mortgage. This is because the lender is taking less of a risk. For buy to let mortgages, it’s more usual that the starting deposit will be around 25% of the property value.
What Is a Mortgage in Principle?
A mortgage in principle is an agreement from your lender that, based on the information that you have provided, they will lend you a specific amount at a certain rate. It’s not a mortgage offer, and does not bind the lender to giving you the mortgage. Checks will need to be made both on you, and also on the property which you are buying for the lender to move onto a mortgage offer.
How Do Buy To Let Mortgages Work?
Buy to let mortgages are very similar to a homeowner mortgage, however the fees and lender requirements tend to be higher. Every lender will have different criteria for a buy to let mortgage, however, unlike a home owner mortgage, they will also take into account your predicted rental income from the property.
WeTrust Mortgages are provided by Fluent Mortgages who are mortgage brokers, not a lander, authorised and regulated by the Financial Conduct Authority.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT YOU MAY BE EXTENDING THE TERMS OF THE DEBT AND INCREASING THE TOTAL AMOUNT YOU REPAY.