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Best Mortgage Rates

At Deedle Finance, we specialise in finding you the best mortgage rates on the market. Our dedicated team strives to understand your unique needs in order to secure the best deals available.

Our mortgage advisors take the time to learn your needs and budget so they can match you with the best rates on the market. Our service is completely free for you.

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How to Get the Best Mortgage Rates

Step 1
Complete Deedle's Form
Enter key details on our online form including your name, contact information and requirements.
Step 2
Get A Callback
After submitting the form, our experienced professional advisors will promptly contact you to provide guidance throughout the mortgage process.
Step 3
Check If You Qualify
Our advisors will ask for relevant information, such as your annual income, to assess your borrowing capacity 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 help you get on the property ladder ASAP!
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How Can I Qualify For the Best Mortgage Rates?

To improve your chances of qualifying for the best mortgage rates, there are several steps you can take. For instance:

  • Maintain a good credit score
  • Save for a higher down payment
  • Demonstrate a stable income and employment history
  • Pay off existing debts
  • Minimise other financial commitments

Lenders offer better deals to borrowers whom they consider “lower risk”. This means borrowers who are more capable of paying a loan back. This capability can be demonstrated by having a large deposit (meaning you have less to pay back) and a good record of paying back loans in the past (i.e. a good credit history).

Can I Get the Best Mortgage Rates with a Low Credit Score?

Yes! While a low credit score can make it more challenging to qualify for the best mortgage rates, you can still secure a very favourable rate. Lenders may offer mortgage options tailored to individuals with lower credit scores, but these rates may be higher compared to those available to borrowers with excellent credit.

However, you can spend some time working on improving your credit score by making timely payments, reducing debts, and addressing any errors on your credit report to increase your chances of qualifying for better rates in the future.

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Can I Get the Best Mortgage Rates Without a Large Down Payment?

Yes. While a larger down payment can often lead to better mortgage rates, it is still possible to obtain competitive rates with a smaller down payment. For example, various mortgage programs (such as those backed by government entities) offer options for borrowers with lower down payment requirements.

Some lenders may offer specialised loan products or incentives to borrowers with smaller down payments. This is why it is important to explore different mortgage options and compare lenders to find the best rates available for your specific situation. Deedle compares thousands of mortgage products to find the best one for you, no matter how much money you have as a deposit.

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Can Mortgage Rates Change After I Lock Them In?

No, not usually. Once you lock in a mortgage rate with your lender, it typically ensures that the rate remains unchanged for a specific period.

However, there may be exceptions and conditions associated with rate locks, such as expiration dates and potential fees if the closing is delayed.

This is why you need to thoroughly review the terms and conditions of the rate lock agreement to understand any potential risks or contingencies.

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Can I Refinance to Get Better Mortgage Rates?

Yes. Refinancing is an option for homeowners to replace their existing mortgage with a new one, potentially offering better terms, including lower interest rates. Refinancing can be a viable strategy if:

  • Market conditions are looking smoother
  • Your creditworthiness has improved
  • You want to change the loan term.

However, you should still consider the associated costs of refinancing, such as closing costs, and determine if the potential savings from lower rates outweigh these expenses.

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Are Mortgage Rates the Only Factor to Consider When Choosing a Loan?

No! While mortgage rates are an essential factor when choosing a loan, they are not the only consideration. Other factors to evaluate include:

  • Loan terms
  • Closing costs
  • Lender reputation
  • Customer service
  • Additional perks

Can I Switch Lenders to Get a Better Mortgage Rate?

Switching lenders to get a better mortgage rate is possible, but you should weigh the potential benefits against the associated costs.

Refinancing with a different lender involves similar processes as obtaining a new mortgage, including application fees, appraisal costs, and closing expenses.

Before switching lenders, compare the potential savings in interest rates with the expenses involved to determine if it could be a financially viable option.

How Can I Lock in the Best Mortgage Rate?

To lock in a favorable mortgage rate, you can consider a rate lock agreement with your lender. A rate lock agreement is a commitment from the lender to honor a specific interest rate for a certain period, typically between 30 and 60 days. This allows you to secure a good rate even if market rates fluctuate during the lock period.

Before you sign an agreement like this, be sure that you understand the terms and conditions of the rate lock agreement, including any associated fees or expiration dates. If you need to read more about how mortgages work, you can read our comprehensive guide here.

Should I Consult a Mortgage Broker to Find the Best Rates?

Yes, mortgage brokers have access to special deals and offers that could save you thousands. Brokers like Deedle have access to thousands of mortgage products across various lenders, and can help you navigate the mortgage landscape by evaluating your financial situation, presenting various loan options, and negotiating with lenders on your behalf.

We provide personalised advice and support throughout the mortgage process, saving you time and effort in researching and contacting multiple lenders individually.

Frequently Asked Questions About Getting the Best Mortgage Rates

Can I Lower My Mortgage Rate After Closing on a Loan?

Sometimes, yes. Lowering your mortgage rate after closing on a loan typically requires refinancing. Refinancing involves obtaining a new mortgage with more favourable terms, including a lower interest rate.

However, refinancing comes with associated costs, such as application fees, appraisal fees, and potential prepayment penalties.

Are There Any Government Programs or Incentives Available for Low Mortgage Rates?

Yes, there are government programs and incentives available that can help borrowers secure low mortgage rates. For example, in the UK, there are schemes such as these that provide support to first-time buyers, key workers, and individuals with specific needs.

Should I Choose a Fixed-Rate or Adjustable-Rate Mortgage (ARM)?

A fixed-rate mortgage offers a stable interest rate throughout the loan term, providing predictability and budgeting ease. On the other hand, an adjustable-rate mortgage initially offers a lower rate but can fluctuate over time based on market conditions.

The choice between a fixed-rate and adjustable-rate mortgage depends on your financial goals, risk tolerance, and future plans. Consider factors like how long you plan to stay in the home and your comfort level with potential rate changes when deciding between the two.

Where Can I Get the Best Mortgage Rates?

Deedle can help you get the best rates for mortgages in all areas of the UK, including London, Birmingham, Manchester, Leeds, Glasgow, Liverpool, Newcastle, Sheffield, Bristol, Edinburgh, Cardiff, Nottingham, Southampton, Belfast, Aberdeen, Leicester, Coventry, Brighton, and Plymouth.

Can I Negotiate Mortgage Rates With Lenders?

Yes, in some cases, you can negotiate mortgage rates with lenders. While rates are influenced by various factors, lenders may have some flexibility to offer competitive rates based on your creditworthiness, financial situation, and the overall mortgage market.

Deedle Finance is the trading name of Tudor Lodge Digital Ltd which trades under company number: 10437769.

Deedle Finance does not provide advice on regulated mortgage contracts or credit agreements, these are carried out by one of our independent FCA regulated associates. 

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENT ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT YOU MAY BE EXTENDING THE TERMS OF THE DEBT AND INCREASING THE TOTAL AMOUNT YOU REPAY.

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First Floor, 5 Fleet Place,
London, EC4M 7RD
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