Question 1

How does mortgage advice work at Albion?

Accepted Answer

We start with a free, no-obligation consultation by phone, video or in person. We learn about your circumstances, goals and any complications such as self-employed income or adverse credit, then search the whole market to find the most suitable lender and product. We handle the application, chase the lender, manage the valuation and conveyancing touchpoints, and stay with you through to completion. After completion we set a diary reminder before your fixed rate ends so we can review your options in good time.

Question 2

What does 'whole of market' actually mean compared to a tied adviser?

Accepted Answer

A whole of market broker can recommend products from across the entire residential and buy-to-let lender panel, including high street banks, building societies and specialist lenders. A tied adviser, such as one working inside a bank branch, can only recommend that single lender's products. Albion is independent and whole of market with access to over 100 lenders, including several specialist lenders that do not deal with the public directly.

Question 3

How are your fees charged and is the first consultation really free?

Accepted Answer

Yes, the initial consultation is genuinely free with no obligation. If you choose to proceed, we charge a transparent broker fee that depends on case complexity, typically agreed and disclosed in writing before any work begins. In many cases the lender also pays us a procuration fee, which we declare in your Key Facts Illustration. You will never be surprised by a fee at the end of the process.

Question 4

What does the broker actually do when submitting a mortgage application?

Accepted Answer

We package your case so the lender sees a clean, complete file. That means verifying ID, collecting the right payslips, SA302s or company accounts, calculating affordability the way the chosen lender does, completing the full application form, uploading supporting documents, booking the valuation, responding to underwriter queries, and chasing the lender for the mortgage offer. We also liaise with your solicitor so the offer arrives in time for exchange.

Question 5

How long does the typical mortgage process take from start to finish?

Accepted Answer

From first call to mortgage offer, four to six weeks is typical for a straightforward case. Complex cases, such as self-employed with multiple income streams, listed buildings, or non-standard construction, can take longer. From mortgage offer to completion depends on the conveyancing chain, often another four to twelve weeks for a purchase. Remortgages tend to be faster as there is no chain.

Question 6

What is a Mortgage in Principle (AIP) and do I need one before house hunting?

Accepted Answer

An Agreement in Principle, also called Decision in Principle or Mortgage in Principle, is a lender's initial indication of how much they would lend you based on a soft credit check and the income figures you have provided. Estate agents and sellers usually want to see one before accepting an offer, so it is sensible to get an AIP before serious viewings. AIPs are typically valid for 30 to 90 days and do not commit you or the lender to the full mortgage.

Question 7

What documents will I need to provide for a mortgage application?

Accepted Answer

For employed applicants: photo ID, proof of address, last three months of payslips, three months of bank statements, latest P60 and details of any bonus or commission. For self-employed: two to three years of SA302s and tax year overviews, or full accounts if you trade through a limited company. For all applicants: details of credit commitments, monthly outgoings, deposit source, and the property you want to buy. We send you a personalised document checklist after the first call so nothing is missed.

Question 8

How do lenders calculate how much I can borrow?

Accepted Answer

Most UK lenders start with an income multiple, typically 4 to 4.5 times gross annual income for a sole applicant or joint income. Some lenders will stretch to 5 or even 5.5 to 6 times income for higher earners, professionals or specific schemes. The lender then runs an affordability assessment that looks at your monthly outgoings, credit commitments, dependants and stress-tests the payment at a higher interest rate. Two lenders with similar headline multiples can produce very different maximum borrowing figures, which is where whole of market access matters.

Question 9

Should I choose a fixed, variable or tracker rate?

Accepted Answer

A fixed rate locks your payment for a set period, usually 2, 3, 5 or 10 years. It gives certainty but you may pay an early repayment charge if you exit early. A tracker follows the Bank of England base rate plus a margin, so your payment moves up and down. A discounted variable rate sits below the lender's Standard Variable Rate for an introductory period. Fixed rates suit borrowers who want budgeting certainty. Trackers suit those who think rates will fall or who need flexibility. The Bank of England base rate is 3.75% as of May 2026, which feeds into all these decisions.

Question 10

What happens at the end of my fixed rate?

Accepted Answer

If you do nothing, you automatically revert to the lender's Standard Variable Rate (SVR), which is usually significantly higher than the deal you were on. We contact every Albion client around six months before their fixed rate ends so we can either arrange a product transfer with the existing lender or remortgage to a new lender if a better deal is available. Switching is usually quick because the heavy lifting was done at the original application.

Question 11

Can I take my mortgage with me if I move? (Porting)

Accepted Answer

Most mortgages are portable, which means you can transfer the existing rate and balance to a new property without paying an early repayment charge. You still need to reapply and meet the lender's current affordability rules at the time of porting, and the new property must meet their criteria. If you are borrowing more, the extra amount is usually on a separate sub-account at the lender's current rate. Porting is useful if you have a low fixed rate you do not want to lose.

Question 12

Can I borrow more on my existing mortgage for home improvements or other reasons?

Accepted Answer

Yes, this is called a further advance and is borrowed from your current lender, usually at one of their current product rates. Alternatively you can remortgage to a new lender for a higher amount, or take a separate second-charge secured loan. The right option depends on the rate you are currently on, any early repayment charges, and whether your existing lender will lend the extra. We will model all three options and recommend the cheapest overall.

Question 13

How do joint mortgages work and who is liable?

Accepted Answer

A joint mortgage means two or more borrowers are jointly and severally liable for the full debt. That means if one party stops paying, the lender can pursue the other for the full amount. Most lenders cap at two applicants on a residential mortgage, though some accept up to four. You can hold the property as joint tenants (equal shares, automatic survivorship) or tenants in common (defined shares, can be left in a will). A solicitor will advise on the right ownership structure for your situation.

Question 14

How long is a mortgage offer valid for?

Accepted Answer

Most mortgage offers are valid for three to six months from issue, with six months being typical. If your purchase is delayed beyond the offer expiry, the lender may agree a short extension, or you may need to reapply, which usually involves a fresh credit check and updated income evidence. For new build purchases with long build timelines, some lenders issue offers valid for six months with the option to extend by a further six.

Question 15

What should I do if my mortgage application is declined?

Accepted Answer

First, do not panic and do not immediately apply elsewhere, as multiple hard credit searches can damage your file. Ask why it was declined. Common reasons include affordability, credit history, property type or proof of income gaps. Many declines are lender-specific, meaning another lender with different criteria would accept the same case. We regularly place clients with specialist lenders after a high street decline. If you came to us after a refusal, we will review the underwriter's reasoning and rebuild the application for the right lender.

Question 16

What is a Key Facts Illustration (KFI) or ESIS?

Accepted Answer

The European Standardised Information Sheet (ESIS), formerly called a Key Facts Illustration (KFI), is the personalised document the lender produces showing the exact terms of the mortgage they are offering. It sets out the interest rate, monthly payment, total cost over the term, fees, early repayment charges and any incentives. We give you the ESIS before you commit so you can compare like for like with any other quote. Always read it carefully, especially the early repayment charge table.

Our Services

Expert Mortgage Solutions

Mortgage Solutions

First Time Buyers

Remortgages

Buy-to-Let

Commercial Mortgages

Specialist Mortgage Services

Self-Employed Mortgages

Bad Credit Mortgages

Large Loan Mortgages

Equity Release

Have a mortgage question? Message us on WhatsApp

Our Mortgage Process

Initial Consultation

Research & Compare

Application

Completion

Ready for Your Mortgage Journey?

Frequently Asked Questions

First-Time Buyer Mortgages

Buy-to-Let Mortgages

Self-Employed Mortgages

No Deposit Mortgages

Our Services

Expert Mortgage Solutions

Mortgage Solutions

First Time Buyers

Remortgages

Buy-to-Let

Commercial Mortgages

Specialist Mortgage Services

Self-Employed Mortgages

Bad Credit Mortgages

Large Loan Mortgages

Equity Release

Have a mortgage question? Message us on WhatsApp

Our Mortgage Process

Initial Consultation

Research & Compare

Application

Completion

Ready for Your Mortgage Journey?

Frequently Asked Questions

How does mortgage advice work at Albion?

What does 'whole of market' actually mean compared to a tied adviser?

How are your fees charged and is the first consultation really free?

What does the broker actually do when submitting a mortgage application?

How long does the typical mortgage process take from start to finish?

What is a Mortgage in Principle (AIP) and do I need one before house hunting?

What documents will I need to provide for a mortgage application?

How do lenders calculate how much I can borrow?

Should I choose a fixed, variable or tracker rate?

What happens at the end of my fixed rate?

Can I take my mortgage with me if I move? (Porting)

Can I borrow more on my existing mortgage for home improvements or other reasons?

How do joint mortgages work and who is liable?

How long is a mortgage offer valid for?

What should I do if my mortgage application is declined?

What is a Key Facts Illustration (KFI) or ESIS?

Related Services

First-Time Buyer Mortgages

Buy-to-Let Mortgages

Self-Employed Mortgages

No Deposit Mortgages