Expert Mortgage Advice & £120,000 Mortgage Deals Suitable For You
Let us put you in touch with expert mortgage advisors who will give you impartial advice and help you find low % £120,000 mortgage products.
No credit search conducted
Working with leading lenders ...
We work with high street and other lenders so you’ll get access to suitable mortgage products that you may be able to apply for.
Why use us?
From the information you provide to us, our experts will search the market and find the most suitable products for you. If you are happy with the product on offer, we will handle all the necessary paperwork for you, including any relevant applications, to ensure that everything runs smoothly for you.
From just a few minutes completing some basic information, we will quickly search for suitable financial products for you.
We’ve helped thousands of customers secure financial products and service so you know that you are in capable hands.
Reduced stress & time saving
Choosing the right financial product is time consuming and can be stressful, so remove much of this by putting it in the hands of one of our financial experts.
Whatever type of financial product or service you are looking for, our service is reliable and always matched to your own personal circumstances.
Whether you’re looking for Mortgage Advice, Loan Advice or Insurance Advice or any other financial product or service, we can help you…
“Did a great job helping us with our mortgage. I would recommend!”
So ... how can we help?
Buying a financial product such as a mortgage can be the biggest decision made in our lives. It is for this reason that impartial advice is critical from qualified advisors.
Find a suitable £120,000 mortgage deal
Customers often reach out to us with questions and queries about the cost of a £120,000 mortgage and getting access to suitable mortgage products. Our expert advisers at Finance Advice Centre can look at the market as a whole, so we believe they are best placed to potentially find the most suitable mortgage products to suit you, even if you have been declined in the past or have bad credit history.
How much deposit will you need for a £120,000 mortgage?
When you are wanting to apply for a mortgage, there are a few key things you need to consider: the value of the property you want to buy and the amount of money you intend to borrow. This is commonly referred to as the ‘loan to value’ (LTV) ratio.
An example for £120,000 could include putting down a deposit of £12,000 (10%), you would own 10% of the property outright, and would need to borrow the remaining 90%. So, the LTV is expressed as 90% and you would need to take out a mortgage of £108,000.
Lenders offer different LTVs on the mortgage products they offer, based on a range of factors, including the perceived risk level of the borrower, and wider market conditions. The majority of lenders will offer up to 85% LTV, some 90% while a few will consider 95%, depending on the level of risk they consider regarding the applicant. With that in mind, the smallest deposit you might be able to put down on a £120,000 mortgage could be around £6,000, but as 95% mortgages are rarer than 85% or 90% products, they are generally more difficult to qualify for.
The larger the deposit you can put down, the better the mortgage products you will usually have access to. So, by putting up as big a deposit as you can, you should be able to benefit from more generous interest rates and a wider variety of products in general.
What factors can affect your application for a £120,000 mortgage?
Here are a few things a potential lender will look at when considering your mortgage application.
- How you receive your income – lenders tend to prefer a consistent PAYE salary, so as long as you’re past your probation period (some lenders will accept a mortgage if you’re on a probationary period), you will usually have access to more favourable rates if you are employed on these terms. However, there is a growing market specifically designed for self-employed borrowers, so as long as you can show you have sufficient regular income, you should be able to find a suitable mortgage product.
- Your age – a lot of lenders have an upper age limit and won’t consider lending to you on a standard mortgage if you’re over 75.
- The type of property you want to buy – properties that have non-standard features or are constructed from certain less commonly used materials are frequently seen as ‘high risk’ by lenders and some will not agree to mortgages for buildings that fall in those categories.
- If you’re buying a second property – each lender will have different rules surrounding borrowers who are looking to take out a second mortgage whether it is buy to let or a second home. Those in these situations can generally expect to be offered lower LTVs, higher rates, and more in-depth scrutiny around their overall affordability.
Contact us today to get started on finding the most suitable mortgage product for you. Our experienced advisers will guide you through the application process to give you the best chance of success.
As a mortgage is secured against your home or property it could be repossessed if you do not keep up the mortgage repayments.
Our approach - and how we do it
We love speaking with our clients. Either give us a call or fill in one of our contact forms. Remember, we love a challenge!
One of our Advisors will then find out what you’re looking to do, discuss your options and answer any questions you may have.
Your Advisor will find the best option for you and help arrange things. You then sit back and relax while we do the rest.
Ready to assist you.
Choosing a financial product or service, such as a mortgage, remortgage, loan or insurance can be daunting and your choice is a decision you need to get right. For this reason, it is vital that you get impartial advice from competent and qualified advisors. Whether you are a first-time buyer, looking to remortgage, hoping to remortgage or even buy a property to let, needing a loan or insurance this is where our advisers excel.
Be reassured that our aim is to guarantee reliable financial advice appropriate to any individual that makes contact with us. Through our network of contacts, we have access to thousands of financial products, from mortgages to loans to insurance, so we are confident that we’ll find one to suit you.
See what our customers think ...
I would highly recommend the mortgage advice service Alice Hale was amazing throughout she is a credit to your organisation and helped us secure our dream home
We had a long journey buying our first home together and recent pandemic events didn’t help matters. Every step of the way, our advisor Steve was supportive, positive and we had every confidence in him. He was able to arrange a good deal for us and we were able to move into our dream house this autumn.
I used George from the finance advice centre to get my mortgage, and he was nothing but amazing! Talked me through every step, always easy to get hold of ! And got me a brilliant product I would highly recommend him, just brilliant 5 stars from me
What a Fantastic Service from start to finish. Great customer support from Ben Patten & Joe Frayne, superb product knowledge and exceptionally responsive to emails/calls, we can 100% recommend the Finance Advice Centre Ltd , they got us a great deal on a mortgage with suited life insurance, especially during this very difficult Covid 19 time ……
From start to finish, Greig and Emily were very helpful with our mortgage application. The advice Greig gave us was very clear and informed. They were always available either by phone or email to answer any questions we had. The whole process was made a lot easier because of the work they did. Would thoroughly recommend
Let us do the work of finding your mortgage
We’ll put you in touch with impartial advice from an expert mortgage advisor who will help secure the most suitable mortgage products for you.