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We have created some helpful guides to ensure that buying your new Tilia home is as simple as possible.

With more than 70 years’ experience, Tilia Homes proudly builds quality new-build homes and communities across the country.

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How to choose a mortgage provider

Choosing the right new build mortgage provider is important for a stress-free home buying experience.

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Guide for movers

How to choose a mortgage provider

This guide will provide you with the knowledge and tools to find the perfect mortgage provider for your brand new Tilia home.

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1. Understand your needs and budget

Before diving into specifics, consider your current financial situation. A clear understanding of your income, credit score and desired deposit will help you find suitable mortgage products.

You can find a range of free credit score services online which allow you to check your score and identify any areas for improvement.

2. Explore different mortgage options

There are a variety of different mortgage options to suit different needs. Here is a breakdown of some popular choices:

  • Fixed-rate mortgages: Provides stability with a locked-in interest rate throughout the loan term.
  • Standard variable rate: Interest rates can fluctuate but may start lower than fixed rates.
  • Tracker: Tracker mortgages are like a standard variable rate but follow external rates and not those of the provider.
  • Guarantor: Not strictly a mortgage product but having a guarantor for one of the above options can help you secure an offer from a lender.

3. Consider using a mortgage broker

A mortgage advisor can search the market on your behalf and recommend the best deal based on your circumstances. They can also improve your chances of being accepted for a mortgage, as well as saving you time and legwork, but be sure to ask about their fees.

4. Compare mortgage rates

Get quotes from at least three lenders, including banks, credit unions and online lenders. Compare factors like:

  • Interest rates: The lower the rate, the lower your monthly payment.
  • Annual Percentage Rate: Considers original fees and other charges, so you get a more accurate picture of the loan’s cost.
  • Closing costs: These one-time fees add up, so don’t forget factor them into your budget.

5. Choose a lender you trust

Having a lender you trust makes the mortgage process smoother. Beyond rates, consider the lender’s customer service reputation and communication style.

Bonus tip: Get pre-approved

Getting a mortgage-in-principle strengthens your offer when purchasing a Tilia home. It shows us that you’re a serious buyer with a verified loan amount.

Buying a Tilia home

At Tilia Homes, we want to ensure a positive homebuying experience for every customer. If you are looking for a reputable mortgage lender to streamline the buying process, speak to our helpful team by getting in touch here.