Getting a Mortgage Quote Online

Going online for an instant mortgage quote can be a convenient way to find out how much you could borrow and what interest rates you should expect, but you won’t get access to every deal on the market and could end up paying more in the long run.

This guide will give you a good idea of how to get an online quote from a mortgage broker that’s as accurate as possible, as well as an understanding of the pros and cons of using this method. Click on the links below to explore each topic.

Can you get a mortgage quote online?

Yes, in most cases, this should be entirely possible as long as you’re confident you have the right paperwork and can provide the necessary information on your circumstances and the property you’re buying.

You’ll also need a good idea of the type of mortgage you want to apply for and the right search terms to use. With so many different products out there and the mix of terminology that lenders use, it can be a confusing landscape – especially if you’re applying for a mortgage the first time.

How to get your quote

Plenty of price comparison tools online will let you enter your details in exchange for a selection of current deals that you can apply for an agreement in principle right away. However, using this route may still leave you with several unanswered questions.

A smarter approach is to request the help of an experienced online broker who can provide you with all the answers you need beforehand while tailoring a mortgage quote to your specific requirements.

Using an online tool right from the start will give you a rough idea of what’s available and allow you to compare different products, but speaking to a broker first is a more secure way of making sure you get a much more accurate picture of the best options available for your circumstances. This will also save you a lot of time and, potentially, some money.

What kind of quotes are available right now?

The table below shows the types of quotes available online for residential mortgages currently.

Please note that the above rates are purely for example purposes, were accurate at the time of writing, but are subject to change. Speaking to a mortgage broker is the best way to find the most up-to-date deals.

Are online mortgage quotes reliable?

While there are some smart and fairly comprehensive tools available online, the results are only as reliable as the information you feed them, and in some cases, the tools are not sophisticated enough to factor in everything that could affect your chances of success.

Online quotes are generally more reliable for ‘standard’ cases, so if there is anything unusual about your application, you may find it easier to speak to a broker. And with the potential for unexpected changes to your personal situation, it isn’t always easy to tell whether your application will be straightforward from the start.

How a broker could get you a more reliable mortgage quote

Unlike an online algorithm, your broker won’t make any assumptions about your circumstances, preferences or priorities and, as a result, will be able to provide you with a more robust mortgage quote, which will give you confidence that you can move to the next stage and make an offer on a property.

They will also know the right questions to ask to identify potential complexities early on and will ensure that you only apply for a quote from those lenders most suitable for your specific circumstances.

Finally, if you choose to work with a whole-of-market broker, you’ll have the peace of mind of knowing that you haven’t missed out on any deals that weren’t widely advertised to the general public.

If you get in touch, we can arrange for a broker we work with who has experience dealing with online quotes to contact you immediately.

How much will your mortgage cost?

The amount you’ll pay back monthly on your mortgage will depend on the sum you’re borrowing and the rate associated with the deal the lender offers. For example, if you’re borrowing £200,000 with an interest rate of 3.92%, your monthly payment will be approximately £1,047.

To determine what this figure could be, use our repayment calculator once you have a quote ready. Other factors may influence the exact sum you’ll pay if you go ahead with any particular deal, so be aware that figures are for information only and should not be construed as advice.

Can you remortgage online?r

Yes – you should be able to arrange a remortgage online using the same comparison tools to find and apply for a suitable deal.

If you’re approaching the end of your current fix or term and plan to stay with your current lender, switching to a new product should be easy on the lender’s website. However, you’ll only be able to see the deals they are offering.

If you want to see if you could get a better deal, use a comparison tool or speak to an advisor.

Get matched with the right broker for your next quote

The brokers we work with know that time is of the essence when you’re applying for a mortgage and will waste no time in securing an online mortgage quote that ticks all the right boxes for you. They have an in-depth knowledge of the mortgage sector, so you can be confident you’re not missing out on any great products.

If you prefer to do things online, you can make an online enquiry, and our expert advisors will be ready to take action on your behalf.