Hoppy have partnered with Mojo Mortgages to help you find your perfect mortgage match.

Get Your Mortgage Sorted in 4 Hassle Free Steps

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1.Get Instant Quotes

Answer a few simple questions & discover how much you could borrow or save in 60 secs.

Get instant quotes

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2. Your Perfect Deal

Mojo's mortgage matcher learns more about you, compares over 90 lenders & finds your perfect deal.

Find your ideal deal

 

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3. Receive Expert Advice

Chat with a friendly member of the Mojo mortgages team to confirm and finalise everything.

Get expert advice

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4. Mortgage Sorted

Sit back as Mojo submits your application, and keep you updated until your mortgage completes.

Get your mortgage sorted

Jennie McCurry

I've dealt with Hoppy for a few months now and find them to be extremely helpful, always very positive and responsive. I'd definitely recommend them.

Belfast

Why Mojo Mortgages?

Hoppy have chosen to partner with Mojo because we are confident their free and easy to use service will help you get more out of your mortgage experience. They work with over 90 lenders, and we see them as real experts that can help you throughout your mortgage journey.

About Mortgages

The first step in getting the most suitable deal for you is to learn more about the types of mortgages available on the market. Hoppy have put together some essential information you need to know before you start shopping around for the best mortgage deals available on the market.

What Do You Need To Find The Perfect Mortgage?

To find a mortgage, you will typically need to provide a few details. This can include, but is not limited to, type of mortgage, the amount you want to borrow and over how long, value of the property, and payment options.

How To Find A Mortgage?

Finding the right mortgage is a little trickier than other types of financial products. The first things you’ll want to consider are monthly repayments, but this is just the start. It’s similarly important to examine fees and interest rates in more detail to get a better picture of what you’ll need to pay.

Mortgage Help

What Types of Mortgages Are Available?

Fixed rate

With this type of mortgage rate, your interest rate will stay the same throughout the term of your mortgage. A term is usually between one and five years though ten-year rates are also sometimes available.

Pro: This is a convenient mortgage rate for people who need to budget as it’s predictable.

Con: Your interest rate will stay the same even if base rates decrease, meaning you’ll be paying more.

Tracker

Tracker mortgage interest rates are tied to the Bank of England base rate, meaning that what you’re repaying will be based on that rate. Most tracker mortgages are available for terms of two or five years though you can also get a lifetime (term) tracker mortgage.

Pro: Tracker rates can be lower than fixed-rate mortgages

Con: You must be prepared for shifting repayment amounts, which could be higher or lower than what you’re used to.

Discount

 

This is another type of variable mortgage but they’re different from trackers because they’re not tied to the Bank of England base rate. Instead, the rate is linked to the lender’s standard variable rate, or SVR, over a term of one to five years.

Pro: Discount mortgage rates can be attractive because monthly repayments could fall

Con: Monthly payments could also rise and overall this rate is more complex and unpredictable than the tracker rate.

Offset

This type of rate is possibly the most complex of the lot as it links your savings to your mortgage debt. With this rate, you won’t earn interest on your savings; instead, the money is offset against your mortgage, so you pay less interest on the debt. Available with fixed or variable rates, the offset mortgage is typically most suitable to those looking to pay off the mortgage as fast as possible.

Pro: A further bonus benefit is offered to those in the higher or top tax bracket, since no tax is paid on savings.

Con: Not available to people with no or little in savings.

What Common Fees Are There When Setting Up A Mortgage?

Booking fee

This tends to be around the £99 mark, but some lenders don’t charge at all. It’s a way to ‘reserve’ your loan whilst the application processes but it’s not refundable if you change your mind.

Arrangement fee

This is the amount you pay your lender for ‘arranging’ the mortgage. Prices vary, with a typical fee costing around £1,000 though it can go up to as much as £2,000. This payment can be made upfront or rolled into your mortgage, meaning you’ll be paying interest.

Valuation fee

There is no set price for this, with some lenders even offering them for free. They usually cover the lender surveying the property you wish to purchase so they can check whether everything is working properly, and the property is adequately secure for the mortgage.

Legal fees

These will typically be charged proportionally to the purchase price and cover all the legal paperwork a solicitor has to complete. The legal fee is inclusive of search fees and Stamp Duty too.

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