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Buying a home

Step 2 – Take action

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So, you know roughly how much you can borrow. Now you need to choose a mortgage. Our Mortgages section will help answer your questions such as:

  • How do mortgages work?
  • What type of mortgage repayment methods can you choose from?
  • What do all the mortgage deals mean, from fixed rates to cashbacks? *
  • Where can you get help and advice?
  • Where can you go to compare mortgage rates and features?
  • What do all these mortgage terms mean?

* If you’re a first-time buyer you may find that some lenders offer limited mortgage deal options – so shop around using our mortgage tables at Compare mortgages.

If you’re remortgaging, check what mortgage deals your current lender will offer you before you start shopping around.

Protecting your home

Now you've got your own place, there are two more things to think about:

  • Protecting your property with buildings insurance, which will usually cover the cost of rebuilding your home if it was damaged by fire, subsidence or flooding. Most lenders will require this as a condition of the mortgage.
  • Protecting your ability to pay the mortgage if you can’t work and your income has fallen. Insurance can step in if you’re ill, injured or made redundant, and pay the mortgage when you can’t for a fixed period.

Our Insurance section will explain what insurance is available to help you decide if it's right for you.

What next?

Explore more guides

  • Are you covered? – find out how to protect yourself and your family against unexpected events.
  • Starting a family – having a baby will change your life and your finances – our guide gives you some useful tips.

Top tips

  1. Try to plan ahead for this next phase in your life.
  2. If you're buying together with a partner or friends, consider how you'll make financial decisions.
  3. Think whether you could manage if your household income were to fall.
  4. Find out whether you'll be entitled to any government benefits, discounts or grants.
  5. If you've dipped into your savings to pay your deposit, then try to build them up again.
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