Expert Mortgage Advice & £300,000 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 % £300,000 mortgage deals.
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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.
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 £300,000 mortgage deal
If you are looking at taking out a £300,000 mortgage to purchase your new home, it is beneficial to know what steps are involved in borrowing that size sum and any other key information that will give you the best chance of getting your mortgage application accepted. Our team of specialist advisers at Finance Advice Centre can help guide you through the process and answer any questions you might have to equip you with all the knowledge you need for your mortgage application.
How much deposit will you need for a £300,000 mortgage?
The amount you need to put down for your mortgage deposit will depend on the prospective property’s price and whether you are classed as ‘high risk’. A lot of mortgage lenders set the maximum loan-to-value (the size of the mortgage compared to the property price) to 90%, meaning you would need a 10% deposit. Though some lenders can accept as little as 5%, other mortgage lenders might require you to put more down, for example, if you are looking at a mortgage with bad credit.
You will generally get access to more lenders and better rates if you are in a position to put a higher deposit down like 20%, since this reduces the risk to the lender if you default on your mortgage payments. If you want to take out a £300,000 mortgage, keep in mind that this is just the loan, not the total value of your property. You could get a £300,000 mortgage for a house worth £315,000 and put down a 5% deposit of £15,700, whereas a £300,000 would require a 5% deposit of £15,000, so you would need a mortgage amounting to £285,000.
How much income do you need for a £300,000 mortgage?
Most lenders will determine how much you can borrow using a multiple of your income. They do this to see if you can comfortably afford your repayments and other expenses. For example, some lenders might provide loans at 4.5x your annual income, although some lenders may be prepared to do 5x, and in some circumstances a few might consider up to 6x.
So, to qualify for a £300,000 mortgage, you typically would need to earn around £67,000 a year (either individually or collectively) based on 4.5x your income, £60k on 5x income, and £50k on 6x income. However, some mortgage providers assess applications on a case-by-case basis to make their decision. While income is important, it is worth noting that the majority of lenders will factor in what percentage of your salary goes on other bills, in order to assess affordability.
Lenders will also work out your affordability by assessing your debt-to-income ratio. To do this they will look at your monthly income minus any outgoings. The lower your debt-to-income the better as it shows lenders that you have more disposable income to put towards mortgage payments. These expenses might include:
- Council tax
- Utility bills including gas, water, and electricity
- TV packages and broadband
- Car insurance
- Credit cards & Loans
- Car finance
- Home and contents insurance
- Childcare costs
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.
Can you get a £300,000 buy-to-let mortgage?
Yes, although the rules surrounding buy-to-let properties are different to residential ones. Mortgage providers often expect you to meet minimum requirements and put down a larger deposit of 25% for instance. Whilst there are lenders who will accept a smaller deposit of say 15%, you would need both a suitable property and sufficient rental income that is at least 125% of your mortgage payments (based on an interest-only repayment type).
How can the term length affect your monthly repayments?
When you’re making a £300,000 mortgage payment typically, the longer your repayment term the less it will cost you per month, but the more you will likely pay back overall. For example, if you take out a £300,000 mortgage over 30 years at a rate of 3.92%, you’d pay £1,418 per month and £510,000 overall, but a 10-year term would cost £3,026 a month and £363,000 in total.
What other factors affect your mortgage chances?
The majority of lenders will consider your whole application before they decide to lend to you. While each lender will favour different factors over others, a lot will look at your age, your monthly expenses, the type of property you are looking to buy, and your income sources.
If you need help with your £300,000 mortgage application get in touch with us at Finance Advice Centre. Our expert team provides experienced and professional guidance with everything related to mortgages, so you can increase your chance of having your application accepted and get the best deal to suit your personal circumstances.
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 ...
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 you the best mortgage deals available.