Residential Mortgages Explained

Whether you're buying your first home or moving into a new one, residential mortgages are designed to help you purchase a property to live in. Understanding how they work will help you approach your application with confidence.

How residential mortgages work:

  • Loan amount and deposit
    Typically, lenders offer loans of up to 90–95% of the property value, meaning you’ll need a deposit of at least 5–10%.

  • Affordability assessment
    Lenders look at your income, outgoings, debts, and credit history to assess what you can afford to repay monthly.

  • Term length
    Standard terms are 20 to 35 years, though shorter or longer terms may be possible depending on your circumstances.

  • Fixed or variable rates
    You can choose between different types of interest rates depending on your preference for stability or flexibility.

  • Fees and costs
    Arrangement fees, valuation fees, legal costs, and stamp duty may all apply — we explain the full costs upfront.

Residential mortgages are widely available, but finding the right lender and product requires understanding your full financial position and future goals.

"Every homebuyer’s situation is unique. We take the time to fully understand your needs and match you with the most suitable lender and product — giving you peace of mind that your mortgage works for you, both now and in the future."