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Our Mortgage Broker Guide to getting a mortgage in Derby

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 Derby Tip 1
Top Mortgage Lenders

Mortgage Broker Tip 1

Mortgage BrokerTip 2

Having difficulty making repayments and on time? Speak to the lenders concerned

You may be in a situation where you are finding it difficult to make the repayments specified on the debt you've taken on. If so, you should get in touch with the companies you owe the money to as they might accept lesser payments from you or give you a grace period (an extension on the deadline by which you must have made a repayment).

Remember that defaulting on payments or making payments late lowers your credit score. If you can come to an arrangement with your creditors, your credit score is much less likely to be harmed.

Interest-only Mortgage

The basic premise of an interest-only mortgage is that your monthly payments purely cover the cost of servicing the interest on the loan and are not put towards paying down the capital itself.

To pay down the capital, the mortgagor is obliged to save money in another investment vehicle which hopefully generates sufficient cash by the end of the mortgage term to pay off the capital – this is not guaranteed.

Only commercial property buyers such as buy to let investors can access interest-only mortgages at the present time; the higher risk profile of these mortgages is thought to be too dangerous for residential buyers to be involved with.


Derby is a city in Derby County. Landmarks include Derby Cathedral - its tower is nearly 70 metres tall - as well as Derby Gaol, Derby Industrial Museum and Pickford's House Museum. There are a number of excellent open spaces in the city, including Darley Park and Markeaton Park, for outdoor recreation.

DE22 3GN

Property Price Stats for Derby


Average property price in Derby £167,341
% Change compared to last year 6%
Population of Derby 248,752 (2011)


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 Derby - Recently Completed

  • Langley Street, Derby DE22 3GN
  • 27 Abbey Street Derby DE22 3SJ
  • 310 Normanton Road, Derby, DE23 6WE
  • 25 King Alfred Street, Derby, DE22 3QL
  • 44 Stenson Road, Normanton Derby DE23 1JB

Local High Street Banks in Derby

Mortgage Broker in and around Derby

Our Derby mortgage broker can help you with your mortgage app;lication locally or in any of the surrounding areas including Ockbrook, Borrowash, Duffield, Mackworth, Willington, Barrow-upon-Trent and Shardlow.

Which banks are local to you?


  • TSB - 336 Normanton Road, Derby DE23 6WF
  • Yorkshire - 28 St Peters Street, Derby DE1 1SL
  • Lloyds - 43 Iron Gate, Derby DE1 3FT

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Information about Mortgages


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

Find a Home Mortgage

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 Derby

Mortgage Brokers Derby 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.

Book a Free Mortgage Broker Consultation

Derby Mortgage Broker Insider Tips

Consider booking your searches as soon as you have an offer accepted

If you're buying a property with a mortgage, your lender will normally expect you to book four standard property searches (local authority, environmental, chancel indemnity and drainage) and you are advised to get searches anyway so you have as much information on your property as possible.

Although you could choose to delay getting your searches to space out your conveyancing-related payments, you are more likely to save time on your conveyancing if you do not.

Your solicitor needs the information detailed in the searches as part of their extensive checks on the property you're looking to buy. As soon as they have this, the quicker they can carry these out and the sooner you'll be able to exchange contracts with the vendor, all going well.

Should you or the vendor choose to pull out of the sale for any reason, the searches can be sold on to any other prospective buyer of the property in question.

Click to find out more about property searches

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Conveyancing Process
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