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Beehive Money A new way to find a mortgage

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Say hello to your next mortgage

Whether you're buying your very first home, moving house, or staying put, we know that mortgages can be a tricky business. Luckily, Beehive Money savers can take advantage of mortgage advice from Mortgage Advice Bureau to help find the right mortgage, with friendly, accessible information to guide you through. 

It’s just another way we help make managing money that bit easier. So if you’re not sure where to start, take some of the time, stress and guesswork out of the mortgage process with a little help from the experts.

The basics

We’ve teamed up with Mortgage Advice Bureau – a leading name in the UK – to bring you mortgage advice. It gives you access to over 90 lenders and 12,000 mortgages, and could even find a deal you wouldn’t get on the high street. 

First home, second home or forever home, it’s here to lend a helping hand – looking at your financial situation, mortgage features, and costs to weigh up a decision that’s right for you.


First-time buyers

Anything you do for the first time can seem a little scary – and that includes taking that first step on the property ladder. That’s why we’re here to guide you through the process. From setting up a honeypot to building up a deposit, to offering mortgage advice, we’ll cover every stage of your journey – just as we’ve helped thousands of others with theirs. 

First things first, you’ll need to save a deposit. With our Lifetime ISA (LISA), you can put away up to £4,000 per tax year and earn tax-free interest on top – as well as a generous Government bonus that’s worth up to £1,000. In other words, you could save around £5,000 per tax year. Generally speaking, the account is open to first time buyers aged 18-39, but you can get all the specifics, including restrictions, on the Lifetime ISA page.

I'm at the start of my house buying journey

While this is a really exciting time, there’s a lot to know — and you might be wondering where to begin. Here's how to get started. 

See what you could borrow
Mortgage deposit calculator show how much you need to save, while a mortgage calculator works out what you can borrow based on your deposit and salary. Save up for a deposit. We've a great range of savings accounts, including a Lifetime ISA for first-time buyers, that can help you build your fund.

Do your research
Check out our mortgage guides, learn more about interest rates and look into your credit score. You can pick up insider tips from our articles, too. It’s all part of getting comfortable with the world of mortgages. If you have any questions at all, we’re happy to help.

I've saved my deposit, but I think I need more guidance

That’s great news – your deposit is the first thing to tick off the list. Next, tap into our mortgage guides to get to know the journey a little better, and familiarise yourself with mortgage terms, like APRC and ERC. 

Don’t forget mortgage calculators – they’ll help you see what your monthly mortgage repayments might be. When you’re ready to take the next step and choose a mortgage, you can speak to an expert Mortgage Advice Bureau adviser.

I'm ready to talk to a mortgage adviser

You’re getting closer and closer to becoming a homeowner, and talking to a Mortgage Advice Bureau mortgage adviser can help you get there by searching deals and lenders that might work for you. 

Be ready to answer a few simple questions around the value of the house you want to buy, how much you've saved, how long you want the mortgage term to be, and how much you earn. Then, they’ll have the information they need to talk you through your options.

On the subject of mortgages, it’s really important you know that…
  • Your home may be repossessed if you don’t keep up repayments on your mortgage.
  • There may be a fee for mortgage advice. The actual amount you pay will depend on your circumstances. The fee is up to 1.00%, but a typical fee is 0.30% of the amount borrowed.
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Remortgaging

This isn’t just for moving. Remortgaging could actually save you money when your current deal runs out. While it might seem like a hassle, it’s actually easy enough to do – especially if you have a mortgage adviser on hand to guide you. You might end up paying less on your monthly repayments or even reducing your mortgage term altogether.

I want a better deal on my mortgage

With Mortgage Advice Bureau, you can access mortgage advice from qualified experts who’ll look past the headline rates and comb the small print to find the deal that suits you best. 

They’ve access to over 90 lenders and 12,000 mortgages, including some that aren't available on the high street, and their advice is totally impartial, because they make their money from fees, not commission. In other words, you’ll get a service you can trust and feel confident you’re making the right choice for you.

I want to save money on my mortgage
Looking to get a better rate? Or have concerns about repayments and want to talk to an expert? Either way, mortgage advisers can give you impartial advice and talk you through your next steps.
On the subject of mortgages, it’s really important you know that…
  • You may have to pay an early repayment charge to your existing lender if you remortgage.
  • Your home may be repossessed if you don’t keep up repayments on your mortgage.
  • There may be a fee for mortgage advice. The actual amount you pay will depend on your circumstances. The fee is up to 1.00%, but a typical fee is 0.30% of the amount borrowed.
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Buy-to-let

You could be buying a first home or building your property portfolio; with Mortgage Advice Bureau’s experts, you won’t need to do it alone. They can help sort mortgages for you, saving you time and leg work. When investing in a buy-to-let property, a trusted mortgage adviser can help search the market, find a good deal, and advise on what you can borrow – though this does depend on the property value and the amount of rent your new property is likely to get. If you need some help, just get in touch.

On the subject of mortgages, it’s really important you know that…
  • There is no guarantee that it will be possible to arrange continuous letting of the property, nor that rental income will be sufficient to meet the cost of the mortgage.
  • Your property may be repossessed if you don’t keep up repayments on your mortgage.
  • There may be a fee for mortgage advice. The actual amount you pay will depend on your circumstances. The fee is up to 1.00%, but a typical fee is 0.30% of the amount borrowed.
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Your next steps

As a Beehive Money member, you can speak to friendly mortgage advisers at Mortgage Advice Bureau whenever you’re ready. They’ll use their knowledge and expertise to find you the right mortgage deal, searching over 90 lenders and 12,000 mortgages. 

If you’re not a Beehive member just yet, don’t worry – you can still get mortgage advice. All you’ll need to do is click here to fill out a form, and a Mortgage Advice Bureau adviser will get back to you. Or, you could sign up to become a member today, and unlock a whole range of benefits that make managing your money easier, and saving simpler. Browse our savings accounts to find the right one for you.


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