Straight answers.

There is no hard and fast rule. Every lender works out affordability differently, based on its own criteria and your circumstances. They look at the size of your deposit, your credit profile, your income and your outgoings.

Our affordability calculator gives a rough guide. A conversation gives you a real answer.

Most residential lenders ask for a deposit of at least 5% of the property value. For buy to let, lenders usually ask for around 25%. A bigger deposit generally opens up more lenders and lower rates.

It is not just about the interest rate. A low rate with a high fee can cost more overall than a slightly higher rate with no fee. We look at the whole picture, including fees, cashback and early repayment charges, and recommend what suits your circumstances.

It is a statement from a lender of how much it may be willing to lend you, based on some basic information and a credit check. Estate agents often ask for one before they will take an offer seriously.

It is not a mortgage offer and it is not guaranteed. The lender still has to assess a full application and value the property.

It varies by lender and by case. Some offers come through within days and others take several weeks, especially where the lender asks for more information. The purchase as a whole usually takes longer because of the legal work.

Often, yes, although it depends on what happened, how much it was for and how long ago. Some lenders decline for a couple of missed payments. Others will consider defaults, CCJs and debt management plans, usually at a higher interest rate.

Read more about bad credit mortgages.

No. Looking at your own report is not the kind of search that lenders see or that affects your score. You can get your credit report here.

Most lenders want at least two years of figures. Some will consider one full year of trading.

Read more about self-employed mortgages.

No. Lenders do not make life insurance compulsory. It is worth thinking about if anyone depends on you financially and you would want the mortgage paid off if you were no longer around.

There is no set price. It depends on you and the cover you choose. Insurers take into account things like your age, medical history, height and weight, and whether you smoke.

Like any insurance, a policy will not pay out if important information was not disclosed on the application, or in cases of fraud. Otherwise, if the claim is for something covered by the policy terms, it should be paid.

That is why we take care over the application with you, so that what the insurer knows is complete and accurate.

If you have a mortgage, your lender will require it as a condition of the loan. Your solicitor will usually ask to see the policy around the time you exchange contracts.

In Cardiff. We advise clients across South Wales and all around the UK by phone and video call. If you are local, we are happy to meet face to face.

Our phone lines are open from 9am to 5pm on weekdays. Appointments are available at times to suit you, including evenings and weekends. You can book a call online at any time.

Yes. Some of our clients first came across Phil that way. Pick a time that suits you and you will speak to Phil.

We will tell you about any fee for our advice before you commit to anything, and confirm it in writing. There is no charge for the first conversation.