FEE FREE Mortgage Broker

The amount you can borrow for a mortgage depends on factors such as your income, expenses, credit history, and deposit size. Lenders typically offer between 4 and 4.5 times your annual income, or joint income if applying with a partner. They also assess your monthly expenses to determine what you can afford to repay. A higher credit score and a larger deposit (usually 5-10% or more) can increase the amount you can borrow. To get a rough idea, you can use our mortgage calculator or we can provide you with a Mortgage in Principle (MIP), which gives an estimate based on your financial situation. For a more accurate figure, it’s best to book a call with one of our mortgage experts.

A Mortgage in Principle (MIP), also known as an Agreement in Principle (AIP), is a preliminary estimate from a lender of how much they may be willing to lend you based on your financial situation. It’s not a formal offer, but it helps you understand what you can afford and shows sellers you’re a serious buyer. To get an MIP, you’ll provide us with basic details about your income and credit history. We will work with lenders who will undertake a quick assessment of your affordability. It’s not a guarantee of a full mortgage offer, as further checks are required.

A mortgage is a loan used to purchase property or land. It’s typically provided by a bank or building society, where the borrower agrees to repay the loan over a set period, usually 25 years, with interest. The property acts as collateral for the loan, meaning the lender can take possession of it if the borrower fails to make repayments. Mortgages usually require a deposit, which is a percentage of the property’s value, and the borrower repays the loan in monthly instalments, covering both the loan amount (principal) and the interest charged by the lender.

Turtle is completely free. Like all brokers we receive our fee from the lender, so there is no need to charge you a fee on top. However, not all mortgage brokers are free. Some may charge by the hour, while others have a flat fee, often split into two parts—one when you begin working with them and another when you sign your mortgage agreement. Independent mortgage advisers typically charge around £300, though it can be more. All brokers earn a commission from the lender once your mortgage is approved and signed, usually between 0.3% and 0.5% of the mortgage value. This commission is the same for all brokers. Brokers should always be clear and upfront about any fees, but if you’re unsure, it’s a good idea to ask before signing anything.

A mortgage broker helps you find the best mortgage, whether you’re a first-time buyer or switching deals. They offer advice on which lender to choose, find the best options for your situation, and guide you through the application process. While brokers don’t provide the loan themselves, they help you access the right one. At Turtle, we’re a whole-of-market broker, giving you access to nearly every mortgage available and supporting you throughout the entire home-buying process. UK mortgage brokers are regulated by the Financial Conduct Authority (FCA).