Got a question? We've got answers.
We know mortgages can feel confusing. So we've put together honest, straight-talking answers to the questions we hear most; from first-time buyers, home movers, landlords and everything in between.
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About Orwell Mortgages
Are you independent or tied to specific lenders?
We are independent mortgage advisers with access to the "whole of market." Unlike bank-tied advisers, we search thousands of deals across high street banks, building societies and specialist lenders to find the right fit for you.
How do you charge for your mortgage advice?
Our initial consultation is completely free and without obligation. If you choose to proceed with an application through us, we typically charge a fixed fee at the point of receiving your mortgage offer. We will always give you a full breakdown of costs upfront.
Are you regulated by the Financial Conduct Authority (FCA)?
Yes. We are fully authorised and regulated by the FCA. This ensures that you receive professional, compliant advice and are protected by UK financial services standards.
What qualifications do your advisers hold?
All our advisers hold the Certificate in Mortgage Advice and Practice (CeMAP) or an equivalent FCA-recognised qualification, alongside years of practical industry experience.
Can we meet in person at your Suffolk office?
Absolutely. We are based at Fox’s Marina in Ipswich and can offer appointments to suit you. We are also able to come to your or offer phone and video consultations (Zoom/Teams) if that suits your schedule better.
Local & Specialist Property Queries
Can you help with mortgages for thatched or timber-framed properties in Suffolk?
Yes. Suffolk is famous for its historic, timber-framed, and thatched cottages (especially in areas like Lavenham or Bury St Edmunds). Because these are classed as "non-standard construction," many high-street lenders reject them. We work with specialist lenders and local building societies who understand these properties.
Do you handle mortgages for holiday lets on the Suffolk coast?
Yes, holiday let mortgages are a part of what we do, particularly around Aldeburgh, Southwold, and Felixstowe. These require different lending criteria than standard Buy-to-Let mortgages, focusing on projected seasonal rental income.
I’m a first-time buyer in Suffolk. What local schemes are available?
Depending on your situation, you can access standard 5% deposit schemes, Shared Ownership options through local housing associations, or specialised "First Homes" schemes on new developments across the county. In fact, some providers now offer no deposit or low deposit mortgages – contact us for more details.
Can you help London commuters buying in Ipswich, Stowmarket, or Manningtree?
Yes. We frequently help buyers moving from London to Suffolk for better value while commuting from mainline stations. Lenders calculate affordability differently if you have high commuting costs, and we know exactly how to package these applications.
Do you work with local Suffolk solicitors and estate agents?
While you are free to choose your own legal team, we regularly liaise with reputable solicitors and estate agents across Ipswich, Felixstowe, Stowmarket and Bury St Edmunds to keep the communication seamless and speed up your purchase.
The Mortgage Process & Timelines
How much can I afford to borrow?
Affordability depends on many factors. Many lenders now offer higher borrowing capacity for first-time buyers and higher income cases. We’d be happy to run through some figures with you to calculate your mortgage capacity.
Can I get a mortgage if I am self-employed or a business owner?
Yes. Whether you are a sole trader, partner, or limited company director in Suffolk, Essex, Norfolk or beyond, you can absolutely get a mortgage. You will generally need 1 to 2 years of certified accounts or SA302 tax overviews.
I’m retired; can I get a mortgage?
As long as you have an income you can get a mortgage. Pensions are an allowable form of income.
What is the minimum deposit I need to buy a home?
The minimum deposit required is usually 5% of the property’s purchase price. Putting down a 10%, 15%, or 20% deposit unlocks significantly lower interest rates and cheaper monthly payments.
Can I use a gifted deposit from my parents?
Yes. Lenders accept deposits gifted by immediate family members, extended family members or even friends. The donor will just need to sign a "gifted deposit letter" confirming it is a gift, not a loan, and provide proof of where the funds came from.
Can I get a mortgage with a poor credit history?
Yes, it is possible. While a history of missed payments, defaults, or CCJs makes high-street lending trickier, we have access to adverse credit specialist lenders who look at the story behind your credit file rather than just the score.
Remortgaging & Existing Borrowers
What does "remortgaging" mean?
Remortgaging is switching your current mortgage deal to a new one, either with your existing lender (a product transfer) or with a completely new lender, usually to get a better interest rate, because your current deal has come to an end or to borrow extra funds.
When should I start looking for a new deal before my current fixed rate ends?
We recommend starting the process 6 months before your current deal expires. Most mortgage offers last long enough to let us secure a rate early, protecting you if interest rates rise in the meantime.
Can I borrow extra money when I remortgage for home improvements?
Yes. If you have enough equity in your property, you can frequently borrow extra capital to fund extensions, loft conversions, or general renovations.
What are Early Repayment Charges (ERCs)?
An ERC is a penalty fee charged by your lender if you pay off your mortgage or switch deals before your fixed or tracked incentive period ends. We always check this to ensure switching makes financial sense for you.
If I move house within Suffolk, can I take my current mortgage with me?
Yes, this is known as "porting" your mortgage. Most fixed-rate mortgages are portable, meaning you can transfer the deal to your new property, irrespective of where in England it is, subject to the lender's valuation and a fresh affordability check.
Insurance & Protection
Do I have to take out life insurance to get a mortgage?
While it is rarely a mandatory requirement by the lender, it is highly recommended. We provide advice on Life Insurance, Critical Illness Insurance and Income Protection cover to ensure your family isn't left with a mortgage debt they cannot afford if the worst should happen.
What is Income Protection insurance?
Income Protection pays you a monthly income if you are unable to work due to an accident, injury, or long-term illness. It ensures you can keep paying your mortgage and household bills while you recover.
Do I need buildings insurance before buying a house?
Yes. This is a legal requirement from your mortgage lender. You must have buildings insurance in place from the day you exchange contracts, as that is the exact point you become legally responsible for the property's structure.
Can you arrange my home and life insurance as well as my mortgage?
Yes. We offer a full service. We can arrange your buildings and contents insurance, life assurance, and income protection alongside your mortgage application so everything is managed under one roof.
What is a "Green Mortgage" and can I get one?
A green mortgage offers lower interest rates or cashback incentives if you buy an energy-efficient home (typically with an EPC rating of A or B), or if you commit to upgrading your current home's energy efficiency. We can easily check if your property qualifies.
Still have a question?
Give us a call or contact one of our team.