Tag: Belfast Mortgage Advisor

The Ultimate First-Time Buyer Guide Northern Ireland

Master the Northern Ireland property market with our ultimate 2026 guide. From securing Co-Ownership to navigating Stamp Duty relief on homes up to £300,000, we simplify every step. Discover how affordable local house prices and expert mortgage advice can turn your dream of homeownership into a reality today.

Navigating the Northern Ireland housing market in 2026 remains one of the most affordable ways to step onto the property ladder in the UK. With average house prices currently sitting around £221,233 and hitting up to £238,708 in high-demand areas, local buyers have a distinct advantage.

Know your 2026 Buying power

Before browsing PropertyPal or PropertyNews, you must secure a Mortgage Agreement in Principle (AIP). Most lenders require a 5% deposit. However in 2026, the Freedom to Buy scheme has become a permanent fixture, helping more buyers access 95% mortgages.

Local support schemes

If a full mortgage is out of reach, Northern Ireland offers unique initiatives:

  • Co-Ownership NI: Buy a share (50%–90%) of a home valued up to £210,000 and pay rent on the rest.
  • Rent to Own: Rent a new-build for up to three years and receive a 20% rent refund to use as your deposit.
  • Lifetime ISA (LISA): Save up to £4,000 annually and receive a 25% government bonus (up to £1,000/year) toward your first home.

Budget for updated 2026 costs

Following changes on 1 April 2025, Stamp Duty thresholds have shifted. 

  • 0% Tax: For first-time buyers on homes up to £300,000.
  • 5% Tax: Only on the portion between £300,001 and £500,000.
  • Other Fees: Set aside £1,500–£2,000 for conveyancing solicitors, RICS surveys, and local rates.

From getting “Sale Agreed” to completion, the process typically takes 3–4 months. Start by checking your credit score and ends with your solicitor registering your title with the Land Registry.

Secure an agreement in principle with a local Mortgage Advisor

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Best Mortgage Broker Northern Ireland | January 2026 Rate War Update

UK Mortgage Price War 2026: What Northern Ireland Homebuyers Need to Know This Week

The UK mortgage market has kicked off January 2026 with a massive “price war,” following the Bank of England’s recent decision to lower the base rate to 3.75%. For homeowners and buyers in Northern Ireland—from Belfast to Enniskillen—this week brings some of the most competitive rates we have seen in over two years.

As your local Northern Ireland mortgage experts, we’ve broken down the top news and how it impacts your wallet.

1. Rates Drop Below 3.5%: The New Benchmark

This week, the UK’s “Big Six” lenders triggered a series of rate cuts, making it an ideal time to compare mortgage deals.

  • The Big Winners: Lenders like Nationwide and Lloyds have introduced 2-year fixed rates as low as 3.47% (60% LTV).
  • HSBC & Santander: Significant reductions have been applied to 5-year fixed terms, perfect for NI families looking for long-term stability.
  • NI Impact: With local house prices often more accessible than the UK average, these lower rates mean monthly repayments for a typical semi-detached home in Co. Antrim or Co. Down are becoming significantly more affordable.

2. A “Booming” Market: Product Choice at an 18-Year High

According to recent data, there are more mortgage products available right now than at any point since 2008.

  • 74% Surge in Activity: Buyers are flooding the market to lock in rates before the spring rush.
  • Lender Confidence: With the UK economy showing 0.3% growth and inflation cooling, banks are eager to lend. If you’ve been waiting on the sidelines, the current “January Sale” on interest rates provides a strong entry point.

3. Major Boost for Northern Ireland First-Time Buyers

Getting on the property ladder in Northern Ireland just got easier this week thanks to new lending criteria:

  • Higher Income Multiples: Nationwide and Metro Bank are now offering up to 6x income for qualifying professionals, helping you bridge the gap in competitive areas like South Belfast or Derry/Londonderry.
  • 100% Mortgages: On January 13, 2026, new “track record” mortgages were launched specifically for renters, allowing some buyers to secure a home with a 0% deposit.
  • Low-Deposit Rates: 90% LTV rates (requiring only a 10% deposit) have dropped to roughly 4.06%, the lowest level in years.

4. Expert Advice: Should You Fix Now?

With the Bank of England base rate at 3.75% and rumors of a further cut to 3.5% in February, the big question is whether to “fix” now or wait.

While rates are falling, the best deals often disappear quickly as lenders hit their targets. To see how much you could save or to get a mortgage Agreement in Principle, contact a local broker today.

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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

First time buyer rates still low amid turbulence

Rightmove has released its weekly mortgage report.

The current average asking price of a typical first time buyer property is £225,340.

For someone taking out an average five-year fixed, 85% LTV mortgage, the average monthly mortgage repayment on this type of home is now £1,104 per month if repaying over 25 years, compared with £1,138 per month a year ago (when the average first-time buyer property asking price was £223,426).

The average rate for a 95% loan to value mortgage fixed for 2 years is 5.65%. The larger deposit a buyer can put towards the purchase the lower mortgage rate that can be sourced.

For example the average 2 year fixed rate for a buyer with a 25% deposit is 4.85%. The average 5 year fixed rate is 4.74%.

To discuss your mortgage options get in touch with a local broker through Best Mortgage Services.

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Self Build Mortgage

Connect to a self build mortgage specialist to ensure the smooth processing of your mortgage finance. Make an online mortgage enquiry.

Planning Permission

You will need full planning permission in order to get approval for a self-build mortgage. Consult your Local Authority and your solicitor for more information on planning regulations in your area before you proceed with your mortgage application.

Plan your finances

Plan your finances before you start your build and consider any variations that may arise. Think about extra costs such as solicitor fees, valuation fees and Stamp Duty Land Tax, and the cost of furnishing decorating and landscaping costs.

Arrange insurance cover.

Many lenders will insist you have self-build insurance cover in place before you draw down your first mortgage instalment.

Stage payments

There are usually 4 stages to draw money down as the build progresses. The stages are foundations, wall plate, roofed and then completion. Completion funds can usually be drawn down when the kitchen and bathroom and fitted.

Interest only payments

Some lenders will offer interest only payments for the first 18 months which will assist cashflow. This incentive is particularly useful if you are paying a mortgage on your current home with a view to selling when the self build is complete.

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Essential Questions for Your Mortgage Adviser

Questions to ask your Mortgage Adviser? Taking out a mortgage is likely to be the biggest debt you will have in your lifetime. Choosing a mortgage is not a decision to be taken lightly.

To get in touch with a mortgage adviser in your area please contact us.

Get in touch with a mortgage professional

Questions to ask your Mortgage Adviser

  1.  How do you charge your clients? Get this clear from the outset. Some mortgage advisers charge a fee upfront or on completion, others are paid commission from the lenders. Some mortgage advisers charge a combination of a fee and commission.
  2.  Are you independent and able to cover the entire mortgage market?  Our mortgage brokers all cover the whole of the market.
  3. How long will the mortgage process take? This will vary from person to person and your adviser should be able to give a rough estimate. Other factors have an impact here for example if you are waiting to sell your own house to release deposit funds.
  4. What deposit should I have? Your mortgage broker will be able to provide quotations based on various levels of deposit. Generally the higher deposit you put down then a lower interest rate can be obtained.
  5. What qualifications do you have? All our mortgage brokers are CeMap certified. CeMap is the certificate of mortgage advice and practise.
  6. Can you give me a breakdown of all the mortgage costs? Make sure your mortgage adviser gives you a breakdown of all the costs and fees. The last thing you want is unexpected fees further down the line.
  7. Can you provide advice on other areas of finance and insurance? Many mortgage brokers will be able to offer guidance on home insurance, life insurance, income protection and pension planning.
  8. Will you review my mortgage in the future? Building a relationship with your mortgage broker is beneficial as they will monitor your mortgage payments and advise when savings can be made. This will save thousands over the lifetime of the mortgage.

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How Mortgage Reviews Can Cut Your Payments Significantly

Why it pays to review your mortgage

For mortgage advice in Belfast and throughout Northern Ireland contact Best Mortgage services. Our Advisors provide a free mortgage review service.

Book a mortgage appointment.

Is your current mortgage as competitive as the best new deals on the market today? You can save hundreds, perhaps thousands of pounds by shopping around. You should review your mortgage payments at least once per year.

How often should you review your mortgage?

At the very least, you should review your mortgage:

    • When interest rates change especially if your mortgage rate is a tracker or variable.
    • When your current mortgage deal comes to an end.
    • Once a year if you are not tied in to a deal with early repayment penalties.

If you do nothing when rates change or your mortgage deal ends, you could lose out to many better deals that are available elsewhere in the market.

How much can you save by remortgaging?

Let’s assume you have £150,000 balance on your mortgage with 20 years left paying £1003 per month on a repayment basis. Your previous discounted rate ended and you are now paying the standard variable rate of 5%.

Switching to a 3% fixed rate deal reduces the monthly payment to £840 per month. That is a huge saving of £163 per month. An extra £1956 per year in your bank account.

Mortgage Advice Belfast

Contact us and one of our Mortgage Advisors will be in touch to source the best mortgage solution for you.

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Mortgage Advice. Where to go for the best mortgage deal.

Mortgage advice is essential. Choosing a mortgage is one of the biggest financial decisions you are likely to make. There are thousands of mortgage deals out there, so how do you choose the right one for you? From the many different providers to the extensive range of products and rates available sourcing a mortgage can be very complex.

Mortgage Advice

Lenders and brokers must offer advice by recommending the most suitable mortgage for you. A Mortgage Adviser will assess the level of mortgage repayments you can afford, by taking into account your income unsecured debt repayments and various outgoings.

If you choose your own mortgage without advice it’s called an “execution-only” mortgage application. Getting mortgage advice rather than on an execution-only basis means that, if for some reason the mortgage turns out to be unsuitable for you later on, you’ll have more rights when you make a complaint.

If you don’t take advice you could end up:

  • with the wrong mortgage for your situation, which would be a costly mistake in the long run
  • being rejected by your chosen lender because you didn’t understand the mortgage criteria. Too many credit searches by multiple finance companies can have an adverse affect on your credit rating.

Talk to a mortgage advisor

A mortgage adviser, also known as an independent mortgage broker, is a specialist with in-depth knowledge of the market. They are not restricted to one Bank’s mortgage products.

Mortgage brokers might charge you for their service depending on the product you choose or the value of the mortgage. Others will be free to you but they’ll receive commission from the lender.

They should tell you up front how much you will pay for their services. You should also be told if an adviser is paid commission. Once your broker makes a product recommendation they must give you a mortgage illustration document usually called a KFI – Key features Illustration

All mortgage advisers must offer you advice when recommending the most suitable mortgage for you. This means you are protected and you can complain to the Financial Ombudsman should the advice be unsuitable which results in a financial loss.

using a Mortgage Broker

      • They help you take all the costs and features of the mortgage into account
      • They may have exclusive deals with lenders, not otherwise available
      • They’ check your finances to make sure the mortgage is affordable
      • They should only recommend a mortgage that is suitable for you
      • They will complete the paperwork for you, so your application should be dealt with faster
      • They are regulated by the FCA – Financial Conduct Authority
      • They offer appointments outside of normal working hours for your convenience.