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£300,000 Mortgages

At Deedle Finance, our mission is to help you find the best rates for £300,000 mortgages. We will take the time to get to know your requirements and search for the best deals available.

Our mortgage advisers compare thousands of mortgage products across the market to get you the most competitive rates. If you want a £300,000 mortgage, fill in our quick form to chat to an advisor for free!


Begin Your Mortgage Journey Today

How To Get A £300,000 Mortgage

Step 1
Complete Deedle's Form
Quickly fill out our quick, secure form with key details such as your full name and your requirements. This allows us to assess your needs.
Step 2
Receive A Callback
After submitting the form, a member of our team of mortgage advisors will call you back to assist you with the whole mortgage process.
Step 3
Check If You Qualify
Our advisors will ask for important facts such as your yearly income, which helps to determine your borrowing potential and find the best interest rates for you.
Step 4
Receive Your Mortgage
Once we have found a loan to suit your borrowing requirements, our advisers can submit your mortgage application and sort your loan!
What Are £300,000 Mortgages?

What Are £300,000 Mortgages?

A £300,000 mortgage refers to a loan taken out to finance the purchase of a property with a value of approximately £300,000.

The borrower secures the mortgage by using the property as collateral. The borrower repays the mortgage month by month, as well as any interest accrued.

Can I Get a £300K Mortgage With a Bad Credit Score?

Yes! There are specialist lenders who cater to borrowers with poor credit, but they may require a larger deposit, charge higher interest rates, or have stricter lending criteria.

Deedle considers people with bad credit scores and matches them with the best possible deals. However, you may want to also spend some time improving your credit score.

Can I Get a £300,000 Mortgage With a Bad Credit Score?

How Do People Afford £300,000 Mortgages?

  • Saving for a down payment: Saving up for a larger down payment helps get the best deals, reducing the overall lifetime cost of the mortgage.
  • Good credit score: A higher credit score increases the chances of qualifying for better interest rates.
  • Joint mortgage: Applying for a mortgage with a partner or co-borrower can increase the combined borrowing power and affordability.
  • Gifts from parents: 56% of buyers under the age of 35 received a financial gift to help them buy their first property in 2020. (Source)

Are There Additional Costs Associated With a £300,000 Mortgage?

Yes, there can be. Keep an eye out for the following:

  • Mortgage arrangement fees
  • Solicitor fees
  • Stamp Duty Land Tax (SDLT)
  • Valuation and survey fees
  • Mortgage insurance (if needed)

Get the Best Rates for £300,000 Mortgages

What Factors Affect the Interest Rate on a £300K Mortgage?

The interest rates on your mortgage will depend on a variety of factors that your lender will take into account. These factors include:

  • The Bank of England’s base rate
  • Inflation
  • The loan-to-value (LTV) ratio
  • Credit score
  • Mortgage product and term

How Much Deposit Do I Need for a £300,000 Mortgage?

The deposit required for a £300,000 mortgage depends on the loan-to-value (LTV) ratio and the lender’s criteria. For example:

20% Deposit

With a 20% deposit, you would need £60,000 as a deposit. This brings the mortgage down to 80% of the property’s value, resulting in a lower LTV ratio.

50% Deposit

A 50% deposit would amount to £150,000. This reduces the mortgage amount to 50% of the property’s value, resulting in a lower LTV ratio.

30% Deposit

A 30% deposit on a £300,000 mortgage would amount to £90,000. This reduces the mortgage amount to 70% of the property’s value, resulting in a lower LTV ratio.

Find the Cheapest £300,000 Mortgage Deals

How Long Does It Typically Take To Get Approved for a £300K Mortgage?

On average, it can take anywhere from a few weeks to a couple of months. The time it takes to get approved for a £300,000 mortgage can vary depending on various factors, including the lender’s processes and your individual circumstances.

The timeline may be influenced by factors such as property valuation, credit checks, income verification, and the complexity of your application. Working with a mortgage broker like Deedle can mean you get approved faster.

Can I Use a £300,000 Mortgage for a Self-Build Property?

Yes, you may find a lender who can lend you a £300,000 mortgage for a self-build property. However, this will have different requirements and processes compared to a standard residential mortgage.

Lenders typically release your £300,000 in stages during the construction process, and they may require detailed plans, cost breakdowns, and monitoring of the project. Self-build mortgages may also have higher deposit requirements and interest rates.

Frequently Asked Questions About £300,000 Mortgages

Can I Use a £300,000 Mortgage to Buy a Property for Investment Purposes?

Yes, it’s possible to use a £300,000 mortgage to buy a property for investment purposes, such as a rental property. Lenders typically assess the rental income potential of the property, may require a larger deposit (often around 25% or more), and charge higher interest rates compared to residential mortgages.

Can I Get a £300,000 Mortgage if I Am a First-Time Buyer?

Yes. First time buyers can even get special mortgage products and government schemes available to support them.

Can I Make Additional Payments Towards a £300,000 Mortgage?

Yes, many mortgage products allow borrowers to make additional payments towards their mortgage, often referred to as overpayments.

How Long Does It Take To Repay a £300,000 Mortgage?

Common mortgage terms in the UK are typically 25 to 40 years, although shorter terms, such as 15 or 20 years, are also available.

Can I Pay off a £300,000 Mortgage Early?

Yes but take some time to understand any early repayment charges or exit fees that may apply. Some mortgages have penalties for early repayment, while others allow for overpayments or lump-sum payments without penalties.