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Frequently Asked Questions

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How do mortgages work?
A bank or another lender will loan money with interest to someone who is purchasing a property. This loan will be secured against the value of that property and the details of the loan agreement will be registered against the title of the property. This is known as a mortgage
What does a mortgage broker do?
Mortgage brokers look for a suitable mortgage on behalf of a client to ensure they secure a competitive deal. The fees and level of service offered by different brokers will vary. At AA Mortgage Services, we offer experienced and professional mortgage broker services at competitive rates.
Is bad credit a problem?
An adverse credit history needn’t prevent you from getting a mortgage. At AA Mortgage Services, we have helped clients with a bad credit history to secure the mortgage they need to complete their property purchase. We work closely with lenders who look at each applicant individually and those who are more favourably inclined to applicants who may have had trouble sourcing credit in the past.
What fees are involved in getting a mortgage?
There will be a fee for mortgage advice as well as the associated costs of purchasing a home. This is typically £495.00. All fees will be laid out clearly in our documentation and we will always work hard to save you money on your overall home purchase.
What can i afford?
What you will be able to borrow will be determined by a number of different factors. Different lenders have different lending criteria and offer different variables of income. AA Mortgage Services will source a product that is most suitable for your needs
What is LTV?
LTV stands for Loan To Value Ratio, and this can be a key determinant in whether your application is approved and what products you will be offered. For instance, if you were to borrow £150,000 to purchase a property worth £200,000 the LTV would be 75% and your remaining equity would be 25%.
What is the difference between a fixed rate and variable mortgage?
Fixed rate mortgages mean that the rate of interest is fixed for a period of time. This will usually range from two to five years, although fixed rates for longer periods are sometimes available from some lenders.

In contrast, a variable rate mortgage means that the amount of interest you may pay can change which in turn impacts your repayments. This will usually be connected to the current Bank of England base rate.
Can AA Mortgage Services help with Buy-To-Let?
Yes, we have extensive experience at helping investors purchase buy-to-let properties.

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AA Mortgage Services, a trading style of AA Mortgage Services Ltd is an appointed representative of HL Partnership Limited, 
which is authorised and regulated by the Financial Conduct Authority.​

The Financial Conduct Authority do not regulate some aspects of buy to let and commercial mortgages. ​

The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.

There may be a fee for mortgage advice. The precise amount of the fee will depend upon your circumstances but will range from £295 to £695 and this will be discussed and agreed with you at the earliest opportunity.

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