22 mortgage advisers in Newcastle

Explore Newcastle mortgage brokers

Finding the right mortgage can feel overwhelming. Whether you’re buying your first home, remortgaging for a better deal, or investing in a buy-to-let property, the process can be confusing and time-consuming. That’s where mortgage brokers come in.

We believe in transparency. That’s why we created a comprehensive map of mortgage advisers in Newcastle, including both in-store advisers and online mortgage brokers.

Why choose a mortgage adviser in Newcastle?

When deciding between a local broker and an online mortgage broker, it’s important to consider the benefits of both options:

• Local expertise - A local broker understands the Newcastle property market, including neighbourhoods, property values, and regional trends.

• Face-to-face support - Some homebuyers prefer in-person meetings for a more personal touch.

• Connections to local lenders - Local brokers may have relationships with regional lenders offering niche deals.

Why choose an online mortgage adviser?

Online mortgage advisers bring a fresh approach to finding the right deal:

• Convenience

  Access expert mortgage advice from anywhere, without needing to visit an office.

• Wider lender access

  Your broker often searches nationwide for the best deals, typically giving you more options beyond local lenders.

• Speed and efficiency

  An online broker's digital-first approach may reduce delays and streamline the application process.

• Lower costs

  Online brokers often charge fewer fees than traditional mortgage brokers in Newcastle.

Top 5 mistakes Newcastle homebuyers make

Don’t fall into common traps when looking for a mortgage. Here are the top mistakes people in Newcastle typically make and how to avoid them:

1. Not shopping around - Banks won’t always offer you the best deal. Find a mortgage broker who works with a wide range of lenders to find competitive rates.

2. Underestimating costs - Remember to factor in fees like stamp duty, surveys, and solicitor costs.

3. Waiting too long to act - Mortgage offers can expire, and interest rates can change. Acting quickly is key.

4. Not understanding fixed vs variable rates - Each has pros and cons. You may consider a mortgage broker in Newcastle to help you choose what’s right for you.

5. Overstretching your budget - Make sure your monthly repayments are affordable, even if rates rise.

Think you can’t get a mortgage? Think again!

There are many myths about getting a mortgage. Let’s bust some of the most common ones:

Types of mortgages a broker can help with

Learn about different types of mortgages and how they align with your needs:

• First-time buyer mortgages - Take your first step onto the property ladder.

• Buy-to-let mortgages - Invest in property with mortgage advice tailored to landlords.

• Remortgaging - Switch to a better deal and save money.

• Self-employed mortgages - Secure a mortgage even if your income is complex.

• Help to Buy and Shared Ownership - Take advantage of government schemes to make buying property in Newcastle easier.

How online mortgage advice works

An online mortgage broker can make the process of getting a mortgage simpler. Here’s how some providers work:

1. Free consultation - Choose a convenient time and day for your initial meeting.

2. Talk to your adviser - Discuss your goals and your background with your adviser.

3. Personalised recommendations - They’ll find the best mortgage options for you.

FAQs about Newcastle mortgage advisers

What is the benefit of using a local mortgage broker in Newcastle?

Local advisers have in-depth knowledge of the Newcastle property market, including popular neighborhoods, property values, and trends. They may also have relationships with regional lenders offering niche deals.

How much does a mortgage adviser cost?

Some online mortgage brokers offer an initial consultation for free. After that, any fees are usually explained upfront so there are no surprises. Some Newcastle mortgage brokers charge a flat fee. All mortgage advisers earn a commission from lenders.

How long does the mortgage approval process take?

On average, mortgage approval takes 2 to 6 weeks. However, this can vary depending on your circumstances and the lender.

What documents do I need to apply for a mortgage?

You typically need proof of income (payslips or accounts if self-employed), proof of variable income/bonuses over several years, your credit history, ID, address verification, and bank statements from the past 3-6 months.

What is a mortgage in principle, and do I need one?

A mortgage in principle is a statement from a lender confirming how much they are likely to lend you. It helps you understand your budget and shows sellers you are serious about buying. Remember, a decision in principle is not a guarantee - it is only an indication of lending.

What is the difference between fixed-rate and variable-rate mortgages?

A fixed-rate mortgage has a set interest rate for a period of time, so your repayments stay the same. A variable-rate mortgage means your payments can change if interest rates rise or fall.

Can I remortgage to reduce my monthly payments?

Yes, remortgaging can help you switch to a better deal and reduce your monthly costs. It’s particularly useful when your current fixed rate comes to an end.

How much deposit do I need to get a mortgage?

Most lenders require a minimum of 5% of the property price. However, a larger deposit (10% or more) can give you access to better rates.

What fees should I expect when getting a mortgage in Newcastle?

Common fees include valuation fees, arrangement fees, legal fees, and broker fees. Your Newcastle mortgage adviser will provide a breakdown so you know exactly what to expect.

Can I get a buy-to-let mortgage in Newcastle?

Buy-to-let mortgages typically require higher deposits. Check with mortgage advisers for details specific to your situation.

Can I switch my mortgage deal early?

You can switch, but you may face an early repayment charge (ERC). Your Newcastle mortgage broker will assess whether switching makes financial sense for you.

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Reviewed by Andrew Holmes. This page was last updated on 6th January 2025.