Find your best mortgage deal with L&C
Compare mortgages with our trusted partner, L&C. Totally free, and no harm to your credit score to compare.
Who are L&C?
We’ve partnered with mortgage broker and advisor L&C. As the UK’s largest fee-free mortgage advisor and broker, they can help you find your best mortgage deal from across the market.
Think carefully before securing any debts against your home. Your home or property may be repossessed if you do not keep up repayments on your mortgage.
How is the service free?
L&C are a fee-free mortgage broker. They’ll receive a fee from the lender if you secure your mortgage deal through their services. TotallyMoney receives commission from L&C if you use their broker services.
How to compare mortgages
Head over to the L&C website
Pop a few details into the L&C website. Totally free, and no harm to your credit score.
Compare personalised mortgage deals
L&C will give you a mortgage in principle and talk you through the deals you could get.
Get your mortgage deal
Chat with the team at L&C and they will manage your entire application, for free!
How to get the best mortgage deal
1
Aim for a big deposit, as it could mean a better rate
2
Check and see if you can improve your credit score
3
Consider the best type of mortgage for your situation
4
Always factor in lender fees and other expenses involved
5
Try to pay off debts and avoid taking on new credit
6
Choose the right property for you and your circumstances
Which mortgage is right for you?
First-time buyer mortgages are aimed at those purchasing their first home.
Remortgage if you already have a mortgage but want a better deal, for example if your fixed rate is coming to an end.
Buy-to-Let mortgages are for those wanting to rent out a property.
What the expert says...
“Even if you’re not looking for a mortgage right now, it’s worth regularly logging in and keeping an eye on your credit report. That way, you can fix any errors, track changes, and build your credit score — putting yourself in a stronger position to unlock the best offers and save money.”
Alastair Douglas, TotallyMoney CEO
Types of mortgages
Repayment mortgages
A repayment mortgage is the most common type of mortgage. You’ll make monthly repayments for an agreed period of time (known as the ‘term’) until you’ve paid back the amount you’ve borrowed, plus the interest.
Interest-only mortgages
Pay only the interest each month, with the original loan due at the end of the term.
Types of mortgage pricing
Fixed rate mortgages
The interest rate stays the same for a set period, so you pay the same amount each month.
Tracker mortgages
Interest rate follows the Bank of England base rate, so repayments vary with rate changes.
Standard Variable Rate (SVR) mortgages
This interest rate is set by the lender. It’s typically higher and could change at any time.
Discounted variable rate mortgages
The interest rate is a set percentage below the lender’s SVR, with repayments that vary.
Offset mortgages
This links your savings to your mortgage, reducing the interest paid on the outstanding loan amount.
Also known as an agreement or decision in principle, this is an estimate of how much a bank or lender could be willing to lend to you to buy a property. It’s a useful starting point to know how much you could borrow, and shows estate agents that you are serious when looking at properties. However, it’s important to know that it’s not a final decision.
Loan-to-value, also referred to as LTV, means the amount of money the bank is lending to you as a percentage of the value of your home. So, if your home is worth £250,000 and you've got a £25,000 deposit, you need to borrow £225,000 or 90% of the value of your home. This means your LTV is 90%.
APRC stands for Annual Percentage Rate of Charge. It tells you how much your mortgage will cost you each year. Every deal will have an APRC, making it easier for you to compare and find the best mortgage deal for you. Multiple costs can be included in the APRC calculation, including the monthly repayments and arrangement fees.
Although the deposit is your largest expense when getting a mortgage, there are other fees to consider. This could include an arrangement or product fee from the lender, mortgage broker fee (unless you use a fee-free broker), stamp duty land tax, and conveyancing and legal fees.
The bigger your deposit, the better. Generally, you’ll need to save enough for at least a 5% deposit. So if a property is £250,000, you need £12,500. But, the higher your deposit, the more options you’ll have, with better mortgage rates. A few lenders do offer mortgages with no deposit, but the interest rates will be much higher.
L&C are a mortgage broker and advisor. A mortgage broker can help you to compare and find the best mortgage rate for your circumstances. L&C offer a wide range of mortgages from different lenders, which may be different than if you go directly to a lender. Brokers like L&C may be able to access deals from lenders that you are not aware of and often communicate with lenders on your behalf.
