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Our Mortgage Broker Guide to getting a mortgage in Newcastle upon Tyne

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 Newcastle upon Tyne Tip 1
Top Mortgage Lenders

Mortgage Broker Tip 1

Mortgage BrokerTip 2

Clear debts first then save

The more overextended you are with debt, the lower your credit score will generally be. Interest rates paid on savings accounts is invariably less than is charged for debts owed.

It therefore makes sense to draw down your savings to clear as much of your debt as you can. In doing so, you will also increase your credit score making any future credit debt you take on cheaper to service.

Fixed Rate Mortgage

A fixed rate mortgage involves you agreeing with your lender to pay a fixed interest rate on your mortgage loan for a fixed period of time, which is normally 2, 3, 5 or 10 years.

Although the interest rate may initially be slightly higher than what you are quoted for a variable rate mortgage, you gain from the security of knowing exactly what you'll be paying out each month. This is more likely to suit the lower risk profile of a first time buyer because they can budget for the sum and, as long as there aren't any unforeseen drastic occurrences such as unemployment, they can be assured that they'll be able to make their mortgage repayments.
With a fixed rate mortgage, when the fixed term finishes, the mortgage is converted to a variable rate mortgage which varies with the lender's standard variable rate (SVR). At this point, a mortgagor can either opt to stay on the SVR mortgage or organise a new fixed rate. If they leave before the fixed term has elapsed, they face having to pay a very large early repayment charge.


Newcastle upon Tyne, or Newcastle, is a city in Tyne and Wear in north-east England, around 277 miles north of London. It developed around the Roman settlement of Pons Aelius. Landmarks and attractions include the Tyne Bridge, the Great North Museum and open spaces include Hodgkin park and Denton Dene.

NE4 6RS

Property Price Stats for Newcastle upon Tyne


Average property price in Newcastle upon Tyne £190,253
% Change compared to last year 6%
Population of Newcastle upon Tyne 266,200 (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 Newcastle upon Tyne - Recently Completed

  • Beech Grove Rd, Newcastle upon Tyne, Tyne and Wear NE4 6RS
  • 81 Houston Street, Newcastle Upon Tyne, NE4 6HZ
  • 103 Severus Rd, Newcastle upon Tyne, Tyne and Wear NE4 9NP
  • 12 Downend Rd, Newcastle upon Tyne, Tyne and Wear NE5 5NJ
  • 11 Shibdon Bank, Blaydon-on-Tyne, Tyne and Wear NE21 5EP

Local High Street Banks in Newcastle upon Tyne

Mortgage Broker in and around Newcastle upon Tyne

Our Newcastle upon Tyne mortgage broker can help you with your mortgage app;lication locally or in any of the surrounding areas including Hebburn, Wallsend, Wideopen, Blaydon, Washington, Gateshead and Whickham.

Which banks are local to you?


  • Nationwide - 9 New Bridge Street, Newcastle Upon Tyne NE1 8AQ
  • Natwest - 16 Northumberland Street, Newcastle Upon Tyne NE1 7EL
  • Royal Bank of Scotland - 31 Grey Street, Newcastle Upon Tyne NE1 6ES

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Mortgage Brokers Newcastle upon Tyne offering free first consultation (terms apply).

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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

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

Newcastle upon Tyne Mortgage Broker Insider Tips

Choose conveyancing solicitors who balance their work well

Conveyancing solicitors look after the needs of many clients and if they take on too many clients, they will be unable to give adequate service to all of them particularly in matters of communication and it's more likely that mistakes will be made.

SAM Conveyancing carefully balance the workloads of the solicitors we use to ensure that you receive the optimum level of client care when you move home. We also only employ Conveyancing Quality Scheme (CQS) solicitors, so you can relax secure in this knowledge when you choose us.

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