Category: Newry Mortgage Brokers

One of our Newry Mortgage Brokers is a just a phone call away. We have Mortgage Advisors in Newry and throughout Northern Ireland. Contact Best Mortgage Services.

Top Mortgage Brokers in Newry for First-Time Buyers

Local Newry Based Mortgage Advisors. Our expert mortgage brokers cover Newry, Warrenpoint, Rostrevor and the surrounding areas.

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Our professional Newry Mortgage Brokers source the best mortgage and insurance rates. Looking to buy your first home? Or looking for a better deal on your existing mortgage payments?

Newry Mortgage Advisors

Our specialist Advisers in Newry guide you through the maze of mortgage and insurance options. Book a free consultation with a local Mortgage Broker today. Home and telephone appointments available at a time to suit you.

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By submitting this form you agree to being contacted by a regulated mortgage broker to assist with your query. Your details will not be sold to any third party and will not be used for future marketing purposes.

Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt that is secured on it.

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Newry Mortgage Adviser

Your local Advisor is just a phone call away. They take you through each step and simplify the mortgage application process.

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The information provided on this website is for information and guidance purposes only and does not represent financial advice. Financial advice is provided by our partner advisors who are regulated by the Financial Conduct Authority.

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Increase in remortgage activity.

Northern Ireland’s remortgage activity surged in February 2026, driven by a wave of maturing fixed-rate deals and easing mortgage rates. With regional house prices leading UK growth at nearly 6% annually, homeowners are leveraging equity to secure competitive new products as lenders battle for business.

There was a 12% rise in remortgage instructions in February according to the LMS.

The most popular main aim when remortgaging was to lower monthly payments, cited by 28% of borrowers. The survey by the conveyancing firm says 42% of borrowers increased their loan sizes in February. Popular reasons for increasing mortgage loans was home improvements and to consolidate more expensive debts to a cheaper mortgage rate.

46% of those who remortgaged took out a five-year fixed-rate product, which was the most popular product last month. 45% opted for 2 year fixed rate products. Borrowers are unconvinced about pending rate reductions despite mortgage lenders factoring this in with lower interest rates.

Get in touch with a local Mortgage Advisor for the best remortgage solutions

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Essential Mortgage Application Checklist

Getting on the property ladder in Northern Ireland? This essential checklist covers everything from gathering your bank statements and payslips to navigating local schemes like Co-Ownership. Avoid common pitfalls, understand your solicitor’s role, and learn how to secure a Decision in Principle to make your first home purchase stress-free.

If you are planning to apply for a mortgage it’s a good idea to get ahead and try to sort out the paperwork you are likely to need.
Whilst what you will need will depend on your circumstances and the lender in question, this checklist should give you a starting point.

Check Your Credit Report

Get a copy of your credit file to ensure that it is accurate and if there is any adverse credit registered on it. Where possible you want to be registered on the Electoral Roll at your main address. Your address history needs to be accurate.
Avoid overdrafts and definitely don’t take out payday loans as this raises alarm bells to lenders assessing your mortgage application.

Ensure your ID and address documents are up to date

You will need to provide proof of ID or address to satisfy money laundering requirements it must be the original document, not a copy, and be current and valid. A passport or driving license is usually used for proof of Identity. For proof of address a utility bill, bank statement, rates bill may be used. The document must be dated within the last 3 months.

Make sure you can show the source of the deposit money

Lenders will want to see where your deposit is coming from, whether it’s from your savings or a gift. Savings will need to be evidenced with bank statements and recent large lump sum transfers will have to be explained.
Gifted deposits will usually require a letter from the person giving you the money ( for example parents) but the format will vary depending on the lender. Lenders may require this letter witnessed by a solicitor.
If you are raising the money on another property it may make sense to start this process earlier to ensure you have the money available when needed.

Have all your income proof readily available

Latest 3 months payslips
Latest 3 months bank statements (the account that your salary is paid into)
Latest P60 (especially if you have bonus income)
Last 2 or 3 years SA302s or signed accounts (if you are self employed).

Details of other credit balances

For all other credit card, personal loan and other mortgage balances the lender will require the start date of the loan, monthly payment and current balance outstanding. The information should match the info on your credit report.

Northern Ireland Specific schemes

Many first-time buyers in NI use government-backed schemes to get onto the ladder. 

  • Co-Ownership (Shared Ownership): A popular NI scheme where you buy a share of a home (50%–90%) and pay rent on the rest. The property value limit is currently £210,000.
  • Rent to Own: Allows you to rent a new-build property for up to 3 years while saving for a deposit, with a 20% rent refund given back at the end to use as a deposit.
  • Right to Buy (House Sales Scheme): If you have been a Housing Executive or Housing Association tenant for 5+ years, you may be eligible for a discount of up to £24,000 to buy your home.
  • Lifetime ISA (LISA): Save up to £4,000/year and get a 25% government bonus (up to £1,000/year) towards a home costing up to £450,000. 

Contact a Mortgage Expert today.

Barclays Cuts Mortgage Rates: New Offers Below 4%

Barclays has announced it will be reducing rates across its residential purchase and remortgage range, with some product mortgage rates below 4%.

The residential purchase only green home five-year fixed, with a product fee of £899 will be lowered from 4.13% to 3.99%.

The residential purchase remortgage only premier two-year fixed rate with a fee of £999 at 60% LTV has been reduced from 4.46% to 4.20%.

Barclays will also introduce a residential purchase only five-year fixed with a rate of 3.99%. This comes with a product fee of £899 at 60% LTV, minimum loan is £5k and maximum loan £2m.

The mortgage rate changes at Barclays will come into effect from 13 February.

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Understanding the Halifax First-Time Buyer Boost

When selecting a first mortgage, factors beyond interest rates must be considered, including associated costs and process simplicity. The Halifax First Time Buyer Boost enables borrowing up to 5.5 times income for first-time buyers with a minimum income of £50,000, subject to credit profiles and specific criteria.

When choosing a first mortgage for your client, there are more things to consider than just the interest rate. You also need to consider all the associated costs involved, and how easy the process will be – from application to completion.

When it comes to helping first time buyers, we know that the main obstacles are size of the deposit and being able to borrow the amount needed to buy the home.

The Halifax First Time Buyer Boost offers an increased 5.5x loan to income. The following criteria applies

At lease one applicant is a first time buyer
Total income on application is £50,000 or more
Maximum borrowing is 90% of the property value
The First Time Buyer Boost is not available where the mortgage is on shared equity or shared ownership schemes.
For applications with any element of self-employed income the loan to value boost will not apply
Subject to applicants credit profile.

Get in touch with a local mortgage broker.

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£5,000 deposit mortgage for First Time Buyers

Accord launched the £5k deposit mortgage last year enabling first time buyers to purchase a property up to a maximum of £500,000 with just a £5,000 deposit. The property is available to houses and flats with the exception of new build flats.

The product is available on a repayment basis only and the maximum age at the end of the mortgage term is 70 years. The five year fixed rate has been reduced from 5.74% to 5.69%.

To discuss the Accord mortgage with a local mortgage broker please contact us.

First Time Buyer

Northern Ireland remains the UK’s most affordable path to homeownership. First-time buyers can benefit from the Co-Ownership scheme and Stamp Duty relief on homes up to £300,000. With local house prices averaging below the UK average your dream home is more attainable here. Take the first step toward your own front door today.

First Time Buyer mortgageWith so many mortgage products on the market and numerous incentives for the first time buyer, it is vital to obtain the services of a Mortgage Broker.

We have specialist Mortgage Brokers throughout Northern Ireland with expert knowledge of all the mortgage options.

Contact us using the form below to request a call back.

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By submitting this form you agree to being contacted by a regulated mortgage broker to assist with your query.

Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt that is secured on it.

First Time Buyer Mortgage

If you are planning on buying your first home talk with a local mortgage broker before you start viewing properties. This will give you an idea of how much you can borrow based on your income, the amount of deposit saved and your credit rating.

Your local advisor will also guide you on the other costs involved in buying a property such as solicitor’s fees, surveys and insurance and stamp duty.

The information provided on this website is for information and guidance purposes only and does not represent financial advice. Financial advice is provided by our partner advisers who are regulated by the Financial Conduct Authority.

First Time Buyers

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5 Essential Tips for First-Time Mortgage Buyers

Belfast’s thriving market offers first-time buyers more than just a home—it’s a gateway to vibrant communities. With significant stamp duty relief and accessible Co-Ownership schemes, your dream of owning in this historic, culturally rich city is closer than ever. Start your journey and secure a mortgage through Best Mortgage Services.

When you apply for a mortgage, the lender will consider all aspects of your circumstances before approving or rejecting your application.

Some factors you cannot change but others could improve your position. Here are five tips for first time buyers.

Control your outgoings

Before you apply try to cut down on as many debts as possible and minimise outgoings like magazine subscriptions, mobile phone contracts and tv services. Outstanding credit cards and loans should be paid off in full, if possible.

Increase your deposit

The larger your deposit the lower amount you need to borrow and the less risk you will pose to the mortgage lender. By reducing your loan to value ratio you may also secure a lower mortgage interest rate.

Know your credit score

Your credit score improves if you consistently pay back on time and will reduce if you miss or default on payments. Lenders will check with the credit reference agencies when assessing your application. A poor credit score may lead to your application being declined. In this event you will have to spend time improving your credit file before applying for a mortgage in the future.

Find a broker with Best Mortgage Services

Mortgage brokers know their stuff and will ask the relevant questions and study your documents before submitting the application. The usual documents required are 3 months payslips, 3 months bank statements, proof of identity and proof of address.

Register on the Electoral Roll

Register on the electoral roll and make sure any bills you have are registered to your current address. Registering on the electoral roll may also improve your credit score. It is important that the information on the mortgage application matches when the lender searches the electoral roll and your credit file.

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Expert Mortgage Review Service for Northern Ireland Homeowners

Is your NI mortgage deal ending soon? Lock in 2026’s best rates before they change. Expert advice for Co-Ownership & remortgaging. Book your free NI review now!

Is your current mortgage still the best deal for you. With NI house prices remaining resilient in 2026 you could have more equity in your home than you think. A mortgage review could save thousands. Lenders are competing strongly with each other to attract new mortgage customers. Many however have not reduced their standard variable rate to existing mortgage customers.

Why NI homeowners need an annual mortgage review.

  • Beat the SVR. Avoid paying your lenders costly standard variable rate.
  • Local lender access. NI specific deals from lenders like Progressive Building Society and Danske Bank.
  • Staircase your Co Ownership. Learn if now is the right time to buy a larger share of your home.

Contact Best Mortgage Services for the cheapest remortgage rates. Book a free mortgage review and find out how much money you could save. An initial chat could save you a lot of time and money.

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House prices not affordable except in Northern Ireland

The average cost of a home in England was £298,000 in the 12 months to the end of March last year, equal to 8.6 years of average household income, the latest official data shows.

The Office for National Statistics (ONS) calculates this affordability level on an annual disposable household income of £35,000 during the period. An acceptable level of house price affordability is at five years of household disposable income.

It adds that since 1999 “house prices have increased twice as quickly as household incomes in England; house prices in Wales and Scotland have also increased more rapidly than incomes, but the differences are more moderate”.

The department points out that average house price to disposable household income ratios were 5.8 years in Wales – based on homes priced at £205,000 and £35,000 average incomes.

In Scotland, the ratio is 5.6 years – based on homes priced at £185,000 and £33,000 average incomes.

While in Northern Ireland the ratio is 5 years — based on homes priced at £160,000 and £32,000 average incomes.

The ONS says for low-income households, average-priced homes in all four countries have been “unaffordable” since 1999, when it began collecting data in this series.

It says only the 10% of highest-income households in England could afford an average-priced home with fewer than five years of household income in the financial year to 2023.

This is in comparison to Northern Ireland where an average-priced home was affordable with an average household income.

Contact us to discuss your mortgage options