How much deposit do I need for a mortgage in Sunderland?

Most lenders require a deposit of at least 5–10% of the property value. However, the bigger your deposit, the more mortgage deals you’ll have access to — and the lower your monthly repayments could be. As your local mortgage adviser in Sunderland, we’ll help you understand exactly how much you need and which lenders are the best fit.

Can I get a mortgage if I’m self-employed?

Yes — being self-employed doesn’t stop you from getting a mortgage. You’ll usually need to provide at least 2 years of accounts or SA302s, but some lenders are more flexible. We specialise in self-employed mortgages in Sunderland and can help present your application in the best possible way.

What if I have bad credit — can I still get a mortgage?

It depends on your individual situation, but the good news is that there are lenders who accept applicants with bad credit. At Fairway Mortgage Advice, we work with specialist lenders who understand that life isn’t always straightforward. We’ll review your credit history and find realistic options for you.

Should I remortgage when my fixed rate ends?

In most cases, yes. When your fixed rate ends, your lender usually moves you onto a Standard Variable Rate (SVR), which is often much higher. By remortgaging, you can often save money or release equity. We provide remortgage advice in Sunderland to ensure you don’t pay more than you need to.

How Much can I borrow for a mortgage?

This depends on your income, outgoings, and credit history. Most lenders allow borrowing around 4–5 times your annual income, but every case is different. Speaking with an independent mortgage broker in Sunderland means we can calculate your affordability and show you what’s realistic before you apply.

Do I need a mortgage broker, or should I just go to my bank?

Banks can only offer you their own mortgage products, which may not be the best deal for you. As an independent mortgage adviser in Sunderland, we search the whole market — giving you access to hundreds of lenders and deals, including some you won’t find on the high street.

Can you help people outside Sunderland?

Absolutely. While many of our clients are based in Sunderland, we also work with buyers in Seaham, Washington, Houghton-le-Spring, South Shields, across Tyne & Wear… In fact we have helped people all over the UK! Wherever you’re based, we can provide mortgage advice by phone, video call, or in person.

Need More Mortgage Help?

Didn’t find the answer you were looking for? Our friendly advisers are happy to help with any mortgage questions.

📞 Call us today on 0191 466 1304
📧 Email info@fairwaymortgageadvice.co.uk