Mortgages

We start with a free, no-obligation consultation by phone, video or in person. We learn about your circumstances, goals and any complications such as self-employed income or adverse credit, then search the whole market for the most suitable lender and product. We handle the application, chase the lender, manage the valuation and conveyancing touchpoints, and stay with you through to completion. Afterwards we set a reminder before your fixed rate ends so we can review your options in good time.

A whole-of-market broker can recommend products from across the entire residential and buy-to-let lender panel, including high street banks, building societies and specialist lenders. A tied adviser, such as one inside a bank branch, can only recommend that single lender’s products. Albion is independent and whole-of-market with access to over 100 lenders, including specialist lenders that do not deal with the public directly.

Yes, the first consultation is genuinely free with no obligation. If you choose to proceed, we charge a transparent broker fee that depends on case complexity, agreed and disclosed in writing before any work begins. In many cases the lender also pays us a procuration fee, which we declare in your Key Facts Illustration. You will never be surprised by a fee at the end of the process.

We package your case so the lender sees a clean, complete file. That means verifying ID, collecting the right payslips, SA302s or company accounts, calculating affordability the way the chosen lender does, completing the full application, uploading supporting documents, booking the valuation, responding to underwriter queries and chasing the lender for the offer. We also liaise with your solicitor so the offer arrives in time for exchange.

From first call to mortgage offer, four to six weeks is typical for a straightforward case. Complex cases (self-employed with multiple income streams, listed buildings, non-standard construction) can take longer. From offer to completion depends on the conveyancing chain, often another four to twelve weeks for a purchase. Remortgages tend to be faster as there is no chain.

An Agreement in Principle, also called a Decision in Principle or Mortgage in Principle, is a lender’s initial indication of how much they would lend you based on a soft credit check and the income figures you provide. Estate agents and sellers usually want to see one before accepting an offer, so it is sensible to get an AIP before serious viewings. AIPs are typically valid for 30 to 90 days and do not commit you or the lender to the full mortgage.

If employed: photo ID, proof of address, the last three months of payslips, three months of bank statements, your latest P60, and details of any bonus or commission. If self-employed: two to three years of SA302s and tax year overviews, or full accounts if you trade through a limited company. For everyone: details of credit commitments, monthly outgoings, deposit source and the property. We send a personalised checklist after the first call so nothing is missed.

Most UK lenders start with an income multiple, typically 4 to 4.5 times gross annual income for a sole or joint application. Some stretch to 5, 5.5 or even 6 times for higher earners, professionals or specific schemes. The lender then runs an affordability assessment against your outgoings, credit commitments and dependants, and stress-tests the payment at a higher rate. Two lenders with similar headline multiples can produce very different maximum loans, which is where whole-of-market access matters.

A fixed rate locks your payment for a set period (usually 2, 3, 5 or 10 years). It gives certainty, but you may pay an early repayment charge if you exit early. A tracker follows the Bank of England base rate plus a margin, so your payment moves up and down. A discounted variable rate sits below the lender’s Standard Variable Rate for an introductory period. Fixed rates suit borrowers who want budgeting certainty; trackers suit those who expect rates to fall or who need flexibility. The base rate was 3.75% as of May 2026, and it feeds into all these decisions.

If you do nothing, you automatically revert to the lender’s Standard Variable Rate (SVR), which is usually significantly higher than the deal you were on. We contact every Albion client around six months before their fixed rate ends, so we can arrange a product transfer with the existing lender or remortgage to a new lender if a better deal is available. Switching is usually quick because the heavy lifting was done at the original application.

Most mortgages are portable, which means you can transfer the existing rate and balance to a new property without paying an early repayment charge. You still need to reapply and meet the lender’s current affordability rules at the time of porting, and the new property must meet their criteria. If you are borrowing more, the extra is usually on a separate sub-account at the lender’s current rate. Porting is useful when you have a low fixed rate you do not want to lose.

Yes. A further advance is borrowed from your current lender, usually at one of their current product rates. Alternatively you can remortgage to a new lender for a higher amount, or take a separate second-charge secured loan. The right option depends on the rate you are currently on, any early repayment charges, and whether your existing lender will lend the extra. We model all three options and recommend the cheapest overall.

A joint mortgage means two or more borrowers are jointly and severally liable for the full debt, so if one party stops paying the lender can pursue the others for the full amount. Most lenders cap at two applicants on a residential mortgage, though some accept up to four. You can hold the property as joint tenants (equal shares, automatic survivorship) or tenants in common (defined shares, can be left in a will). A solicitor will advise on the right ownership structure.

Most offers are valid for three to six months from issue, with six months being typical. If your purchase is delayed beyond expiry, the lender may agree a short extension, or you may need to reapply, which usually involves a fresh credit check and updated income evidence. For new-build purchases with long build timelines, some lenders issue offers valid for six months with the option to extend by a further six.

Do not panic and do not immediately apply elsewhere, as multiple hard credit searches can damage your file. Ask why it was declined; common reasons include affordability, credit history, property type or proof-of-income gaps. Many declines are lender-specific, meaning another lender with different criteria would accept the same case. We regularly place clients with specialist lenders after a high street decline, reviewing the underwriter’s reasoning and rebuilding the application for the right lender.

The European Standardised Information Sheet (ESIS), formerly the Key Facts Illustration (KFI), is the personalised document the lender produces showing the exact terms of the mortgage offered. It sets out the interest rate, monthly payment, total cost over the term, fees, early repayment charges and any incentives. We give you the ESIS before you commit so you can compare like for like, and you should always read it carefully, especially the early repayment charge table.