Frequently asked questions

The short answer is yes. It just depends on when you want it and what your circumstances are. Speak to your Broker so they can assess your eligibility and guide you further.

Getting a mortgage might seem daunting, but that’s where we come in - we do this every day! We understand that for many clients, this may be their first and possibly only experience with mortgages.

The process typically starts with reaching out to a mortgage broker (like us). We’ll assess your financial situation, discuss your budget, and provide advice on what’s achievable now - or in the future if you're not quite ready. Once you're sale agreed on a property, we’ll handle the mortgage application on your behalf.

While you can apply directly to a bank, working with a broker gives you access to exclusive rates and ensures you’re getting the right mortgage for your circumstances. We’re here to make the process smoother, avoid common pitfalls, and secure the best possible deal for you.

Lenders typically offer between 3 to 4.5 times your annual income (your income multiple). The exact amount depends on factors such as your line of work, outgoings, credit score, and overall financial situation. It is possible to borrow more than 4.5 times your income if you are a defined by the lender as a 'high earner'. Company Directors can use their retained profits instead of dividends taken to calculate this with some lenders too.

The minimum deposit varies depending on client profile, but options exist as low as 5%. These products are more aimed at those with good credit ratings. However, we have managed to secure 5% deposit mortgages for clients with less than ‘clean’ credit with lenders that don’t credit score in a traditional way.

Yes, getting a mortgage with bad credit is possible, although it can be more challenging. Specialist lenders offer products tailored for individuals with poor credit, but these often come with higher interest rates and stricter terms.

Improving your credit score before applying will expand your options. Working with an experienced mortgage broker who can carefully review your credit file and offer informed advice can significantly boost your chances.

At Campbell Financial, we leave no stone unturned in finding the best possible deal for our clients – even those with less-than-perfect credit. In fact, many clients come to us worried about their credit history, only to find it’s not as bad as they thought. Let us guide you through the process and help you explore all available options.

Yes, absolutely! Many of our clients are paid in Euros – and some in USD or other foreign currencies. While not every lender accepts foreign income, there are still competitive options available from notable high street lenders.

We also assist self-employed clients earning in foreign currencies. Our team is experienced in reviewing tax returns for businesses in the Republic of Ireland, as well as US tax filings (including understanding joint filings for married couples in the US).

If you earn in a foreign currency and are considering a mortgage, we’re here to help navigate the process and find the best solution for you.

The mortgage rate you can get largely depends on the size of your deposit. Generally, the larger your deposit, the lower your interest rate will be. Rates can range from higher rates with a 5% deposit to the lowest rates for deposits of 40% or more.

If you have poor credit, you may only be able to access mortgages with higher interest rates. It’s also important to note that mortgage rates can fluctuate daily, which is why we don’t publish them on our website.

Other factors, such as the type of home you're purchasing, can also influence the rate. At Campbell Financial, we can help assess your situation and provide you with accurate rate options based on your circumstances.

Yes, you can get a mortgage for a 2nd home, but it’s important to understand the distinction between a second residential home and a buy-to-let property. A second residential home is for personal use, such as a holiday home for you and your immediate family. In this case, the property cannot be rented out or used for short-term rentals like AirBNB.

If you intend to rent out the second property, you will need a buy-to-let mortgage instead. This type of mortgage has different requirements and interest rates, and is intended for properties that are rented to tenants.

If you’re considering purchasing a second home, get in touch with us to discuss your options and the best solution for your needs.

Yes, you can still get a mortgage if you’re receiving benefits. Benefit income is considered a valid source of income by many lenders. However, if benefits are your only source of income, your options may be more limited.

That said, it’s absolutely possible to secure a mortgage while relying on benefits, and we’ve helped clients in similar situations successfully obtain mortgages. At Campbell Financial, we’ll work with you to find the best mortgage options based on your unique circumstances.

Yes, it is possible to get a mortgage if you’ve been Bankrupt, had property repossessed, or been in a Debt Management Plan (DMP) or an Individual Voluntary Agreement (IVA).

We’ve helped clients in all of these situations secure mortgages. Your eligibility will depend on your overall credit profile and how long ago these issues occurred. The longer it’s been since your financial difficulties, the more likely it is that lenders will consider you for a mortgage.

At Campbell Financial, we’ll assess your individual circumstances and help you find the best options available to you.

Yes, it’s possible to get a mortgage if you have a default or CCJ. The outcome will depend on several factors, including the circumstances of the missed payments, the amount owed, and how recent the default or CCJ is.

At Campbell Financial, we’ll carefully review your credit report and guide you on the mortgage options available to you based on your individual situation. We’ve helped clients in similar circumstances find the right mortgage, and we’re here to do the same for you.

It is possible to get a mortgage without a deposit in certain circumstances. One option is to purchase a property through schemes like Co-Ownership in Northern Ireland, or other government schemes available in mainland UK.

If you don’t have a deposit saved, you might also consider asking family members for help in the form of a gifted deposit. This means your family member can provide some or all of the deposit money as a gift, either with no expectation of repayment or with an agreement to repay it when the house is sold or through monthly payments. If repayments are expected, they will need to be included in your affordability calculation, which may reduce your borrowing capacity.

Another option, although more limited, is using a personal loan as a deposit. Currently, only one lender in Northern Ireland allows this, and the monthly repayments on the loan would need to be considered in your affordability assessment. This can be an alternative to Co-Ownership for some clients who only need a small amount for their deposit.

Feel free to contact us to discuss your specific situation and explore the options available to you.

Unfortunately, we can only arrange mortgages for properties within the UK. However, if you already own property here, we can explore options to remortgage and release equity to help finance purchases abroad. We’ve successfully helped clients fund holiday homes in places like the Republic of Ireland and Spain through this approach. Let us know your plans, and we’ll work with you to find a solution.

While many of our clients are based in Northern Ireland, we’re delighted to assist clients across the UK. Although our offices are in Hillsborough and Omagh, we frequently work with clients from mainland UK – including a growing number in London, thanks to referrals from satisfied clients. No matter where you're located, we’re here to provide expert mortgage advice and support.

Our Fees
The fees we charge depend on the services we provide. For residential mortgage applications, we charge a flat fee of £295. This covers assessing your situation, giving you access to broker-exclusive rates, leveraging our expertise to improve your chances of approval, and advising you on your mortgage setup (lender, rate, term, repayment type, etc.). This fee is payable once you receive your mortgage offer.

For buy-to-let or limited company buy-to-let mortgage applications, our fee is £495. The fee is higher because these mortgages are typically smaller and generate lower commission from lenders, so we adjust our fee to account for the additional time and complexity involved.

If you’re remortgaging and staying with your current lender, we waive our advice fee. This is because the process requires less paperwork and time on our part. If this applies to you, we’ll let you know during our meeting.

Commission
We also receive commission from lenders.

The commission we receive from lenders is not added to your mortgage and does not cost you anything extra. It’s paid by the lender when your mortgage is completed as compensation for bringing them new business, providing advice, and handling paperwork on their behalf.

We’re completely impartial and do not favour any specific lender. The lender we recommend will always be the best fit for your needs, and our advice will always reflect what’s in your best interest.

We will be paid commission from insurers if you arrange your insurance through us. However, you won’t pay us for advice on insurance.

Referrals
If we’re unable to assist you directly, we may refer you to trusted partners who offer services that we don’t provide. For example, if you need a specific financial product or advice outside our scope, we’ll connect you with a partner that can help. In these cases, we may receive a commission or flat rate for the referral, depending on the type of referral and your transaction with that partner. We ensure that these referrals are to trusted professionals, and we will inform you if this applies.

An interest-only mortgage requires you to pay only the interest on the loan each month, without reducing the principal amount. At the end of the mortgage term, the full loan amount remains outstanding and must be repaid in full. We usually try to refrain from arranging these types of Mortgages for our clients unless there is a very clear exit strategy for you, and you fully understand the consequences while being prepared to sell your home to repay the debt if you have not repaid the loan in full by the end of the mortgage term. There are minimum income thresholds and minimum equity requirements for interest only mortgages now.

Loan to Value (LTV) is the ratio of the mortgage amount to the property's value, expressed as a percentage. For example, a £150,000 mortgage on a £200,000 property results in a 75% LTV. LTV influences the interest rates offered by lenders; lower LTVs often attract more favourable rates.

The mortgage application process typically takes between 1-4 weeks from application to approval, depending on factors like documentation, property valuation, and lender efficiency. Delays can occur, so it's advisable to maintain clear communication with your broker to manage expectations of all involved.

A mortgage in principle (also known as an agreement in principle or decision in principle) is a statement from a lender showing how much they’re willing to lend you based on an initial review of your income and credit. It signals to sellers and estate agents that you're a serious buyer.

At Campbell Financial, we help you secure a mortgage in principle while safeguarding your negotiating power. This means sellers and estate agents see you’re financially prepared, without knowing the full extent of what you can borrow - allowing you to negotiate confidently on the purchase price.

A fixed-rate mortgage provides consistent monthly payments over a set period, offering stability and peace of mind. In contrast, a variable or tracker mortgage fluctuates with changes in the Bank of England Base Rate - lowering your payments if the Base Rate drops, but increasing them if it rises. Not all tracker or variable rates track the Bank of England Base Rate.

The right choice depends on your financial situation, future plans, and risk tolerance. There’s no one-size-fits-all answer, which is why working with a broker who understands your goals is essential.

While friends or family may offer advice based on their experiences, remember - their circumstances are different from yours. We recommend listening, thanking them for their input, but ultimately relying on the guidance of your broker. After all, this is what we do every day.

There’s no one-size-fits-all answer to this question - the right term depends on your personal circumstances and future plans. Factors like your financial outlook, risk tolerance, and any intentions to overpay your mortgage all play a role in deciding the best term.

Lenders commonly offer 2 and 5 year fixed-rate deals, but 3 year options are becoming more popular. Some lenders even provide 7 or 10 year fixed rates, with longer term options occasionally available in Northern Ireland and more frequently on the mainland UK.

Choosing the right fixed period is about balancing stability with flexibility. At Campbell Financial, we’ll help you consider all the factors to find the term that best aligns with your goals.

Common fees include broker fees, arrangement fees with your lender, valuation fees, legal fees, Estate Agent fees (if selling your home) and, in some cases, early repayment charges. It's important to factor in these costs when budgeting for your property purchase. These fees can vary based on the type of mortgage and value of the home.

There’s no set minimum credit score to get a mortgage and we know that can be frustrating to hear! The truth is, we can work with a wide range of credit profiles.

At Campbell Financial, we focus on the bigger picture, not just the score. By reviewing your full credit report and understanding your income and circumstances, we can assess what’s possible. If there’s a path forward, we’ll find it and fight to make it happen.

Your credit score doesn’t define your options - let us help you explore them.

We don’t want to overwhelm you with a long list of things to prepare - most people already have what they need for approval when they meet with us! If there’s anything specific you should do before applying, we’ll let you know during your first meeting.

That said, here’s a simple checklist to improve your chances:

• Review your credit file: If you spot anything unusual or negative, speak to a broker (like us!) who can help you address it.
• Update your address: Ensure your bank statements reflect your current address, not your parent’s address, a previous one or a temporary address. 
• Prepare key documents: For your initial meeting, we typically ask for ID, 3 months of payslips, and your credit report. If you're self-employed, we’ll need the last 2 years of tax calculations (SA302s) and tax year overviews. Additional documents like bank statements may be required once you're ready to proceed.

Remember, what you need to prepare depends on your individual situation, so the best approach is to speak with a broker early on. Trying to overprepare in areas that don’t apply to your situation can slow down the process. Let us guide you through what matters most for your mortgage approval.

Yes, you can get a mortgage if you're self-employed in the UK. Generally, you’ll need to provide two years of tax calculations (SA302s) as proof of income. It’s possible to secure a mortgage with just one year of tax returns, but this depends on factors like your industry, previous employment history, and future income projections.

At Campbell Financial, we can help assess your situation and guide you through the process to find the best options available for you.

Stamp Duty Land Tax (SDLT) is a tax on property purchases in the UK. The amount you’ll pay depends on the price of the property and your status (e.g., first-time buyer, second home).

For most first-time buyers in Northern Ireland, you may not need to worry about paying stamp duty, as property values are fairly modest here. We recommend checking with your solicitor, as they’re responsible for collecting the payment on your behalf for HMRC. For detailed information on the current rates and thresholds, you can visit the .gov website.

There are several common reasons a mortgage application could be declined, such as poor credit history, insufficient income, high debt levels, or issues with the property itself. If your application was declined, the lender should provide an explanation. If you worked with a broker, they can explain the reasons and help you explore alternatives to keep things moving forward.

At Campbell Financial, we proactively address most potential issues during the application process, so if you’re working with us, we’re confident we can arrange a mortgage. Sometimes, though, there are factors outside of our control.

If your mortgage was declined, don’t worry - we handle challenging cases all the time. In fact, we thrive on turning these situations around. We often have a few complex cases each month that others might find impossible, but we’re passionate about finding a solution. If you’ve been declined, contact us, and we’ll work hard to help you secure the mortgage you need.

Missing payments can lead to penalties, damage to your credit score, and in severe cases, repossession. Speak to your lender immediately if you foresee difficulties in making your payments.

A remortgage involves switching your current mortgage to a new lender, which can also apply if you own your home outright and want to release funds for purposes like home improvements or debt consolidation.

This typically happens when your current mortgage deal ends, and you’re looking to compare deals from your current lender with deals available elsewhere. If you stay with your current lender, this is called a product switch or product transfer. However, moving to a new lender means going through a full mortgage application process.

At Campbell Financial, we make the process easier by comparing deals from your current lender with those available in the wider market - including exclusive offers only available through brokers. Let us guide you in finding the best deal for your needs.

Yes, remortgaging allows you to release equity from your property, providing a lump sum that can be used for purposes like home improvements or debt consolidation. However, this increases your mortgage amount and more than likely your monthly payments. It's essential to assess the long-term financial implications, alternative finance options may be more suitable for you.