Expert Mortgage Advice & £250,000 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 % £250,000 mortgage deals.
Expert service
Highly Rated
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Working with leading lenders ...
We work with high street and other lenders so you’ll get access to suitable deals 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.
Quick service
From just a few minutes completing some basic information, we will quickly search for suitable financial products for you.
Expert advice
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.
Reliable service
Whatever type of financial product or service you are looking for, our service is reliable and always matched to your own personal circumstances.
Satisfaction guaranteed
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 £250,000 mortgage deal
Typically, when it comes to mortgages you could borrow up to four-and-a-half times your income. This means that combined earnings of about £55,500 should in theory be able to secure a £250,000 mortgage. However, affordability rules can be a bit more detailed than that and other factors might be taken into consideration. At Finance Advice Centre our specialist advisers can help guide you through the mortgage process and find the best deals and providers to suit your personal situation. We want to give you the best chance of your mortgage application being accepted.
How much do you need to be earning to afford a £250,000 mortgage?
Several factors can have an impact on how much you will be able to borrow. These are:
- Loan-to-income ratio
- Loan-to-value ratio
- Affordability
- Credit history
- Source of income
- Age
The loan-to-income ratio is the total amount of your mortgage loan compared to your annual income (the combined annual income of all buyers named on the mortgage). In today’s market the maximum you can borrow is 4.5 times your total annual income, but in rare cases some lenders may offer more for a limited number of customers.
On the other hand, some lenders might not be prepared to offer that much. Knowing the maximum amount you can borrow does not mean you will definitely receive that size mortgage. Your lender will also consider two other main factors: the loan-to-value ratio and affordability.
Other factors that can affect getting a £250,000 mortgage
There are multiple other circumstances that might help to determine whether you can borrow the full 4.5 times your income.
Credit history
You will need a good history of borrowing and making payments to demonstrate that you are likely to be able to pay back a £250,000 mortgage . If you don’t have a strong credit rating then lender’s will be less confident in lending money to you and your application could be rejected for such a large mortgage. You should speak to an experienced mortgage adviser who can help you find ways to improve your credit score and get to a level that will be acceptable for a mortgage provider.
Source of income
Lenders prefer borrowers to have steady, consistent, and predictable sources of income as you are more likely to be able to make the regular monthly repayments for the length of your mortgage term. Therefore, it could be a bit more difficult to get a £250,000 mortgage if you are self-employed or in a profession that is considered to be less secure or riskier. However, it is not impossible, and even having a steady income does not guarantee you will get a mortgage, it is all these factors combined that help providers make their decision on whether to lend to you or not.
Age
There are no official set age limits on mortgages, but lenders tend to have their own caps, sometimes as low as 55. A steady sufficient income for the next 20 years or more can be challenging to prove if you are in your late 50s or older.
Our approach - and how we do it
Enquire
We love speaking with our clients. Either give us a call or fill in one of our contact forms. Remember, we love a challenge!
Discuss
One of our Advisors will then find out what you’re looking to do, discuss your options and answer any questions you may have.
Relax
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.
What will a £250,000 mortgage cost you?
The cost of your mortgage repayments will vary depending on the length and type of mortgage deal you are offered and the rate of interest you can secure.
What kind of mortgage deal can you get?
If you are on a fixed rate mortgage, the size of your repayments will be the same for the duration of the deal period (typically two to five years but it can be longer). If you’re on a variable rate mortgage (e.g. a tracker, discounted, or SVR mortgage) your interest rate and therefore your payments can change. However, the very lowest interest rates are usually found with tracker mortgages if the Bank of England base rate is low. If you’re willing to take the risk it could make your mortgage more affordable.
How long will you be paying off your mortgage?
The majority of mortgages are fully repaid over 25 years, but you can often choose a longer or shorter term. Your mortgage term could be as long as 35 years or as short as 5 (this often applies to people who remortgage for the last time). Longer mortgage terms generally mean lower monthly repayments as you have more time to pay off the loan. However, the total amount you pay will be more for that same reason.
How can a mortgage broker help you get a £250,000 mortgage?
Your best chance of being able to secure the maximum loan you can reasonably afford is by using a mortgage broker. Our team at Finance Advice Centre can give you independent advice on the best option for you and will guide you through every stage of your application. Also, you will have access to many more mortgage deals than you ordinarily would be able to find on the high street or online, so you can be assured that you are getting access to some of the best potential deals.
As a mortgage is secured against your property, it may be repossessed if you do not keep up the mortgage repayments. Think carefully before securing other debts against your home.
See what our customers think ...
Emma Griffiths
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
Emma Weaver
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.
Joanne Widdowson
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 you the best mortgage deals available.