Buying a property will probably be the biggest financial commitment you’ll ever make and as we all know, obtaining your remortgage can be complex and stressful.
Which is why we are here to help.
From our initial conversation, to the application, mortgage offer and completion, at Teesside Money, we make the process as straightforward as possible.
Getting onto the housing ladder has never been harder. But, we are hugely supportive of first time buyers and will do everything we can to help you achieve your dream of home ownership.
We want you to succeed and help you get on that first rung of the ladder.
If you have saved hard, or lucky enough to have support from your family, we can help you choose the right mortgage from the many thousands of products available.
However, if you aren’t in that position, we are experts in the various schemes currently available to help first time buyers.
Finally, if you’ve lost all hope and can’t see a way to get onto the housing ladder, our intimate knowledge of the remortgage market, and the fact we are independent advisers, allows us to consider other options you have not yet thought of.
If there’s a way to get you onto the housing ladder, you can trust us to find it.
Moving home is never as simple as it should be, there are always complications.
Our experience, knowledge and easy manner, mean that getting your mortgage isn’t one of them.
Of course, your mortgage is a commitment which will last decades; you need to get it right. Fixed, discounted, tracker, capped, collar, the choice is frankly bewildering. As independent advisers we have hundreds of mortgage lenders and thousands of deals available to us.
We’ll make sure you get the mortgage that’s right for you.
But we’ll do even more.
From our initial discussions, right the way through to you getting the keys to your new home, we’ll hold your hand, sit in your corner and when necessary, put an arm around your shoulder.
To put it more simply, we are on your side.
Can I Get a Mortgage If I’ve Just Started a New Job?
Yes, some lenders are flexible even if you’ve just started a new role—or are about to start one. In fact, certain lenders will consider applicants whose contracts begin in the near future or who are still within their probation period. However, in some cases, you may need to provide your first payslip before the mortgage is fully approved.
What Is the Minimum Income Required for a Mortgage?
While some lenders do not impose a strict minimum income requirement, realistically you’ll need to earn at least £20,000 per year to comfortably cover your mortgage repayments, household bills, and general living costs. This figure can vary depending on your financial commitments and the property value.
What Is the Income Multiplier Used for Mortgage Calculations?
Most lenders use an income multiple of around 4.5 times your annual income, though in certain cases this can go as high as 5.5 times—especially for applicants with strong financial profiles. Keep in mind, existing credit commitments such as loans and credit cards can reduce the amount you’re eligible to borrow.
Do I Have to Use the Mortgage Adviser Recommended by the Estate Agent?
Absolutely not. You are under no obligation to use the estate agent’s in-house mortgage adviser. Often, these recommendations are financially motivated rather than tailored to your best interests. You’re free to choose your own mortgage broker, and in many cases, an independent broker may offer better options. Ideally, you should secure a Decision in Principle (DIP) before viewing properties to avoid pressure or rushed decisions.
Am I Required to Use the Mortgage Broker Provided by the New Build Agent?
No, you are not obligated to use the broker recommended by a new build agent. These suggestions are often tied to commission incentives. You have full freedom to work with any mortgage adviser or broker you trust.
Do I Have to Use a Solicitor Recommended by the Estate Agent?
Not at all. You can appoint your own solicitor for the conveyancing process. Estate agents frequently suggest panel solicitors—often for referral fees—not necessarily because of quality or service. Choosing an experienced and reliable solicitor is crucial, as a poor or overburdened one can slow down the entire purchase process significantly.
The guidance and/or advice contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK
Think carefully before securing debt against your home. Your home may be repossessed if you do not keep up payments on your mortgage or any other loans secured on it.
Teesside Money Limited Company Registration number 10991314. Registered Address at 80 Coleman Street, London, England, EC2R 5BJ, with a Trading Address at Fast Track House, Thornaby, Stockton on Tees, TS17 6PT. Teesside Money Limited is registered with the Data Protection Act 1998 registration No. ZA287646 and is authorised and regulated by the Financial Conduct Authority under Firm Reference Number 799826.