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Our Mortgage Broker Guide to getting a mortgage in Wells

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 Wells Tip 1
Top Mortgage Lenders

Mortgage Broker Tip 1

Mortgage BrokerTip 2

Remove financial links to old partners

This applied to both life partners and business partners: your credit rating can decrease because of the suspect credit history of someone you have previously had shared accounts or finances with.

Write to your credit reference agency and ask for a notice of disassociation.

Offset Mortgage

This type of mortgage involves he mortgagor linking their mortgage with a savings account that gains interest. The interest is offset against the interest that they would pay on their mortgage. This makes your repayments less.

The disadvantage of this type is the interest rate on this type of mortgage is higher than normal and the interest from your savings account goes straight to the lender and not to you, the mortgagor.


Wells is a Cathedral City and civil parish in the Mendip district of Somerset, on the southern edge of the Mendip Hills: it is a city purely because of its wonderful, picturesque cathedral and is often described as England's smallest city, although it's actually second smallest compared to the City of London in terms of area and population.

Sites other than the cathedral include The Bishop's Palace , home of the bishops of the Diocese of Bath and Wells for 800 years and the Church of St Cuthbert. In terms of culture, Wells Film Centre and Milton Lodge are well worth a visit.

BA5 2RA

Property Price Stats for Wells


Average property price in Wells £310,983
% Change compared to last year 9%
Population of Wells 12,000 (2018)


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 Wells - Recently Completed

  • Abbot Lane, Shepton Mallet, Somerset BA4 4LT
  • Southtown Lane, Glastonbury, Somerset BA6 8NS
  • Butler's Gardens, Frome, Somerset BA11 1LZ
  • Adderwell Road, Frome, Somerset BA11 1NP
  • Vallis Road, Frome, Somerset BA11 3EF

Local High Street Banks in Wells

Mortgage Broker in and around Wells

Our Wells mortgage broker can help you with your mortgage app;lication locally or in any of the surrounding areas including Glastonbury, Taunton, Frome, Bridgwater, Cheddar, Minehead and Yeovil.

Which banks are local to you?


  • Barclays Bank Plc - 9 Market Place, Wells, Somerset BA5 2RH
  • Lloyds Bank Plc - 24-26 High Street, Wells, Somerset BA5 2SJ
  • NatWest Bank plc - 7 High Street, Wells, Somerset, BA5 2AA

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

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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.

Wells Mortgage Broker Insider Tips

Get your buildings insurance sorted in time for exchange of contracts!

According to the law, you are responsible for buildings insurance as a buyer of a property from the point of exchange. You should therefore have this in place to give you security against any disaster which might affect the fabric of your new property.

You should therefore plan for this in advance and organise your buildings insurance to start on the day you exchange. Click if you wish to get a buildings insurance quote.

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