Get even more money from your mortgage

A cashback mortgage can be a boon if you're buying a property that needs some work, or if you need to buy bits and bobs. However, there's no such thing as free cash so expect higher penalties if you move your mortgage. You might even have to pay the cashback back.

What lenders will want to know before you can borrow

Before you can borrow money, mortgage lenders need to be sure that you can afford the mortgage repayments and that the property is worth what you intend to pay for it. Expect lots of questions about your income and expenses, including what you spend on big nights out.

How to get a mortgage when your credit rating's rubbish

Lenders don't like risk, but that doesn't mean there's no such thing as a bad credit mortgage. Specialist lenders will happily lend money to people with bad credit ratings or even CCJs, although in most cases you'll pay more for your mortgage than someone with a good credit history.

Things to think about when buying for business

Many brokers, specialist lenders and big-name banks will offer a business mortgage, usually for up to 75% of the value of the property. Mortgages are available for shops, factories, pubs and rural businesses, but many lenders exclude petrol stations due to the higher than average risk involved.

Some deals aren't as good as they might seem

If you need help with moving fees or want to redecorate your new home, a cash back mortgage sounds ideal: in addition to paying for your home, the lender will also give you a wad of cash to spend as you see fit. However, you don't get something for nothing.

Even fixed rate mortgages change over time

When you're shopping for a mortgage it's worth remembering that even the best interest rate won't last forever. Variable rate and tracker mortgages follow the ups and downs of the Bank of England base rate, while fixed rate mortgages have a time limit after which rates can rise.

Move your mortgage to get the best possible deals

You've shopped around to get the best mortgage, but that's not the end of the process: canny homeowners know that moving their mortgage when the market changes can save them an awful lot of money. Watch out for penalty clauses in your mortgage small print to avoid nasty surprises, though.

Tailor your mortgage to get the best possible deal

Most mortgages can be tweaked, and it's a good idea to weigh up the pros and cons of different products to get the best mortgage deal. Setup and admin fees differ from product to product, and you can dramatically reduce your payments by paying a deposit.

No deposit? No problem. 100% mortgages are widely available.

Most mortgages don't cover the entire value of the property, which means you'll have to shell out a few thousand pounds yourself. If you can't afford that or don't want to do it, a 100% mortgage could be the answer although you'll still have to pay some money up front.

Borrow more than your property is worth

Sometimes a 100% mortgage isn't enough especially if you're trapped in negative equity, you're trying to start a new business or your new home needs a lot of work. Lenders realise this, and it's possible to get a 125% mortgage or even a 130% mortgage to help you find your feet.

How much can you borrow? Can you afford the repayments?

Because your mortgage is secured on your property, it's important to make sure you can afford the repayments or you could end up losing your home. Use our mortgage calculator to work out whether you can buy the home of your dreams and whether you can afford it.