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Our Mortgage Broker Guide to getting a mortgage in Colchester

The mortgage application process has 4 stages regardless of which mortgage lender you use:

    1
    Approval/Decision in Principal (AIP/DIP)
    2
    Mortgage in Principal (MIP)
    3
    Mortgage Valuation
    4
    Mortgage Offer

Read about the full mortgage process here - What is the mortgage process?

Mortgage Broker Colchester Tip 1
Top Mortgage Lenders

Mortgage Broker Tip 1

Mortgage BrokerTip 2

Check your credit report for any issues

Getting a recent credit report will show you how your credit worthiness is viewed by lending companies. This is particularly worthwhile if you haven't already done so and have been turned down for credit.

Depending on what you find on your file, you can take action to improve your credit, principally by ensuring you make timely repayments on existing credit you have taken out. Every application for credit you make which is turned down will in turn negatively impact your credit score.

Repayment Mortgage

Residential home buyers take out repayment mortgages, which involve making monthly repayments where part of the payment goes towards paying for the interest on the loan and part goes towards paying down the capital. At the end of the term, normally 25 years, assuming all payments are made correctly, the mortgage is fully paid back so the ex-mortgagor then holds the full equity of the property involved.

The act of developing more equity over time has the advantage that any future remortgaging should be cheaper in future and applications more likely to be successful.


Colchester is a town and the largest settlement in Colchester Borough in Essex and is 51 miles nort-east of London. It has many historical associations - it is said to be the oldest town in Britain - and used to be England's capital city in Roman times (Camulodunum). It is well-equipped in terms of shopping, cultural diversions and open spaces.

One diversion is Colchester Castle in Castle Park - it's a fine example of a complete Norman Castle. The Mercury Theatre in Balkerne Gate has two auditoria and hosts a number of theatrical productions by highly talented orchestrators. Castle Park itself is an excellent open space and 'a green oasis in the town centre'!

CO1 1PX

Property Price Stats for Colchester


Average property price in Colchester £225,563
% Change compared to last year 13%
Population of Colchester 104,390 (2001)


The property price data is sourced from the Land Registry's UK House Price Index and you can view up to date property prices by clicking - Land Registry House Price Index >> Land-Registry

Mortgage Broker Colchester - Recently Completed

  • Bury Close, Marks Tey, Colchester, Essex, CO6 1LE
  • 74 London Road, Copford, Colchester, Essex, CO6 1BJ
  • 36 Johnson's Drive, Elmstead Market, Colchester, Essex, CO7 7AL
  • 170 Old Heath Road, Colchester, Essex, CO2 8AQ
  • 21 Oakapple Close, Colchester Essex, CO2 9FS

Local High Street Banks in Colchester

Mortgage Broker in and around Colchester

Our Colchester mortgage broker can help you with your mortgage app;lication locally or in any of the surrounding areas including Elmstead, Marks Tey, Great Bentley, Manningtree, Boxted, Hook and Wormingford.

Which banks are local to you?


  • Lloyds Bank Plc - 27 High St, Colchester CO1 1DU
  • Barclays Bank Plc - 9 High St, Colchester CO1 1DA
  • HSBC Bank Plc - Midland House, 26 N Station Rd, Colchester CO1 1SY

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Information about Mortgages


Watch our video to find out how to organise your mortgage and funding for your purchase.

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Whole Market Access

Our mortgage broker has access to the whole of the market as our home loan brokers aren't tied to any particular mortgage providers.

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FREE mortgage consultations for Colchester

Mortgage Brokers Colchester offering free first consultation (terms apply).

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Fast mortgage appointments

With no need for face to face meetings you'll be called on the same day by one of our mortgage specialist brokers to discuss your circumstances and can support complex applications for Help to Buy, Right to Buy and Shared Ownership mortgages

Independent Mortgage Broker

Impartial Mortgage Advice

You'll have access to the whole of the market as our mortgage brokers aren't tied to any one mortgage company.

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Colchester Mortgage Broker Insider Tips

Buying a leasehold property? Request your vendor to get their management information pack when your offer is accepted.

Your solicitor needs to examine the leasehold management information very carefully as it deals with matters like service charges and how well the freehold has been run. 

Very frequently the freeholder or managing agent may take weeks to compile and return the material which may form the basis of enquiries from your solicitor which in turn need to be answered.

Click to find out more about the Management Information Pack

Click to get your FREE Conveyancing Solicitors Quote
*Fixed Fee – No Sale No Fee – On all Major Lender Panels
Conveyancing Process
FREE Online Conveyancing Process for Buyers

Includes online checklists, videos, downloads and tips - plus it is completely free to use from start to finish and saves your progress along the way.