FAQ's
Frequently asked questions
One of the things many first time buyers worry most about is applying for a mortgage. With so many factors to consider it can be difficult to know where to begin when looking for your first mortgage.
Drummonds Finance Group makes it easy for first-time buyers to choose the right mortgage. We are specialists in providing mortgage advice to first time buyers.
We have access to first-time buyer mortgages from a wide range of lenders so it’s one less thing for you to worry about.
We can guide you through the process and offer expert mortgage advice specific to your circumstances.
Drummonds Finance Group makes it easy for people moving house. From working out how much you could borrow, completing all the paperwork, to picking up the keys to your new home, we’ll be there every step of the way.
We will discuss your personal circumstances with you, including such areas as, your income, outgoings, future plans and savings. From this, we can determine the most appropriate new mortgage for you, give you an indication of how much you can borrow and the level of purchase price you can afford
Protection Against Rate Rises
Releasing Equity
For those that have built up equity in their home, remortgaging can be an attractive option. It can release funds to extend your home, or undertake other home improvements, or it may offer a method to pay off other debts, such as loans and credit cards, that have higher rates of interest.
Your current deal is about to end soon
It could be beneficial to review your mortgage at this point to avoid paying your current lenders high standard variable rates.
Whether you’re an accidental landlord, buying your first investment property or you already have a portfolio of properties, we’re here to help you build your future nest egg.
Increased buy to let regulation, and subsequent complex lender criteria has made it vital that you get professional advice.
At Drummonds Finance Group we have extensive experience and knowledge in this area as well as access to mortgages from a wide range of lenders so it’s one less thing for you to worry about. If you need advice in this area, and you want to move fast, then get in touch now, either fill in our enquiry form or give us a call.
Your home could be a valuable asset for you and your family and an investment for the future. Home ownership could give you more freedom to make the changes you want to your home.
Drummonds Finance Group are on hand to provide expert advice on the right mortgage product to assist with your purchase. We can help you by confirming your eligibility for a mortgage and talking you through the process of buying your home.
Are you finding it difficult to get on the property ladder? It could be that your earnings are not high enough to enable you to obtain a mortgage which is sufficient to buy a property or the high cost of renting means that you just don’t have any spare money to put away for the huge deposit needed. The answer could be a shared ownership mortgage. The shared ownership mortgage scheme works by property buyers ‘sharing’ the ownership of the property.
A commercial mortgage can be used to buy property (or land) that will be used for business purposes. This service is by referral only
Maybe you have applied for a mortgage with your bank and failed the credit score.
The good news is that there are mortgages available for people with a bad credit rating if you know where to look.
At Drummonds Finance Group we have access to over 90 lenders, some of which are not available on the high street. Some of our lenders specialise in considering your personal circumstances where other other lenders will not lend.
Contact us today for a no obligation chat about your circumstances, we are here to help you get your dream home.
From viewing a home to moving in, it typically takes 8–17 weeks. The mortgage application part alone usually takes 2–4 weeks, depending on the lender and documentation.
It depends on your income, outgoings, and credit score. Typically, lenders will offer 4.5 to 6 times your annual salary, but this varies based on your circumstances.
Most lenders require a minimum deposit of 5% of the property’s purchase price. However, putting down 10–15% can give you access to better mortgage deals with lower interest rates.
Most lenders will ask for:
Proof of ID (passport or driving licence)
Payslips (last 3 months)
Bank statements
Proof of deposit For self-employed applicants: 2–3 years of tax year overviews and SA302s.
A Mortgage in Principle (also called an Agreement in Principle or AIP) is a statement from a lender saying how much they might lend you, based on a quick financial check. It helps show estate agents and sellers that you're serious.
Besides your deposit, you should budget for:
Legal fees
Valuation/survey fees
Mortgage arrangement fees
Stamp Duty (if the home is over £425,000)
Moving costs
Furniture and setup costs
➡️ Ask your broker for a full breakdown of costs.
Yes, it’s possible. Some lenders specialise in helping buyers with poor credit history, missed payments, or even defaults. A mortgage broker can help you find the right lender for your situation.
Yes! Popular schemes include:
Shared Ownership
First Homes Scheme (discounted new builds)
Lifetime ISA (savings with a 25% government bonus)
Absolutely. A mortgage broker:
Gives you access to more lenders and deals
Helps you prepare your documents
Supports you through the entire process It’s especially helpful if you’re not sure where to start or have unique circumstances.
A first-time buyer is someone who has never owned a property before, either in the UK or abroad. If you’re buying with someone else, both of you must be first-time buyers to qualify for certain schemes and exemptions.
Yes, many mortgages are portable. We’ll help you check your lender's terms and guide you through the process.
Not always. Equity from your current property can often be used as your deposit for the new home.
Key costs include valuation fees, legal fees, potential early repayment charges, removal costs, and possibly stamp duty.
We compare both options. Sometimes switching lenders offers a better deal—even with added fees.
Yes, subject to affordability checks. We’ll calculate what’s possible based on your new circumstances.
If your mortgage is portable, it may be paused or adjusted. We’ll guide you through next steps without starting from scratch.
A Buy-to-Let (BTL) mortgage is a type of loan for purchasing a property that you intend to rent out to tenants, rather than live in yourself. It differs from a residential mortgage and typically requires a larger deposit and has different eligibility criteria.
Most lenders require a deposit of at least 20–25%, though some may ask for up to 40% depending on the property and your circumstances. The more you put down, the better your mortgage rate is likely to be.
No — Buy-to-Let mortgages are specifically for rental properties. If you want to live in the property, you’ll need to switch to a residential mortgage or get the lender’s permission, which could involve a "consent to let" arrangement.
Lenders base affordability on the expected rental income, not your personal income. However, they often require that the rent covers 125–145% of the mortgage payments (based on a notional interest rate), and you may need a minimum personal income (e.g. £25,000).
Most Buy-to-Let investors opt for interest-only mortgages, where you only pay the interest each month, keeping monthly payments lower. The loan capital is repaid at the end of the term, usually via sale of the property. Repayment mortgages cover both capital and interest, reducing your debt over time.
Yes. In England, you pay an additional 3% stamp duty surcharge on top of the standard rates for second homes and Buy-to-Lets.
Rental income is subject to Income Tax. You can deduct certain allowable expenses, such as letting agent fees, insurance, and maintenance costs. Mortgage interest relief is limited to a basic rate tax credit (20%).
Yes, many landlords now buy through a limited company to potentially save on tax, especially higher-rate taxpayers. However, mortgage rates are often higher and there are additional admin and costs (e.g. accountancy, legal).
It depends on your goals. Despite market fluctuations, demand for rental properties remains strong in many areas. With interest rates stabilising and rents rising, Buy-to-Let can still offer solid long-term returns — especially in commuter towns, student hubs, and regeneration areas.
Absolutely. Whether you’re a first-time landlord or expanding your portfolio, our expert brokers can:
Find the best Buy-to-Let deals from across the market
Advise on company vs personal ownership Mortgages
Help structure your application for rental affordability
Guide you through limited company lending
A remortgage is when you switch your current mortgage to a new deal — either with your existing lender (called a product transfer) or with a different lender. This can help reduce your monthly payments, release equity, or avoid your lender’s higher standard variable rate (SVR).
Ideally, 3–6 months before your current deal ends. This gives time to find the best rate and avoid rolling onto your lender's SVR, which is often much more expensive.
Yes — but there may be early repayment charges (ERCs) if you're still in your fixed or tracker period. In some cases, the long-term savings still make it worthwhile.
Absolutely. You can either stay with your current lender (a product transfer) or move to another lender for a better rate or different terms.
Yes and we help self-employed clients remortgage regularly. Lenders typically want 1–2 years of accounts or tax returns to assess your affordability.
Yes while options may be more limited, we work with specialist lenders who accept CCJs, defaults, or historic credit issues.
Yes this is known as capital raising or equity release. You may be able to borrow more for home improvements, debt consolidation, or even to help family get on the ladder.
Applying for a remortgage typically involves a soft credit check at first, and a hard check when the application is submitted. A single remortgage won’t significantly impact your credit unless you apply multiple times or miss payments.
Not always but using a broker means you’ll access 100+ lenders, including deals not available directly. Plus, we handle the paperwork, lender negotiations, and ensure you don’t miss key deadlines.
We work with over 90 lenders, including specialists in bad credit mortgages. We’ll assess your situation, explain your options clearly, and match you with the most suitable lenders—giving you the best chance of success.
No. In fact, checking your credit report is a smart first step. It allows you to spot and correct errors and understand what lenders will see. We recommend getting a copy of your credit report from agencies like Experian, Equifax, or Checkmyfile.
Yes. Applying jointly with a partner or family member with good credit can sometimes improve your application. However, the lender will still assess both applicants’ credit histories
Yes. There are lenders who specialise in self-employed applicants, even with credit issues. You’ll need to show consistent income—typically through SA302s, tax returns, or business accounts—and may need a larger deposit.
You’ll typically need to provide:
Proof of ID (passport or driving licence)
Proof of address (utility bill, bank statement)
Credit report
Payslips or proof of income (last 3 months)
Bank statements
Details of your credit issues
We’ll help guide you through exactly what you need during your consultation.
Yes, some lenders will consider applicants with a history of bankruptcy, but it depends on how long ago it occurred and whether it has been discharged. Most lenders will expect the bankruptcy to be discharged for at least 12 months, with some requiring longer.
In most cases, yes—at least initially. Lenders charge higher rates to reflect the increased risk. However, once you’ve built a good payment history and improved your credit, you may be able to remortgage at a lower rate later on.
Bad credit can include missed payments, defaults, CCJs (County Court Judgments), IVAs, debt management plans, or bankruptcy. Even having little or no credit history can make some lenders cautious. The severity and age of the issue will affect your mortgage options.
Yes, you can. While high street banks may be more cautious, there are many specialist lenders who consider applicants with poor credit histories. These lenders look beyond your credit score and assess your full financial situation.
A product transfer is when you switch your current mortgage deal to a new one with the same lender. It usually happens when your fixed, tracker or discounted rate period ends, and you want to avoid moving onto your lender’s Standard Variable Rate (SVR).
Ideally, 3 to 6 months before your current deal ends. This gives you time to compare options and avoid falling onto the Standard Variable Rate.
It’s usually very quick — often just a few days. Some lenders even allow you to complete it online or over the phone with minimal paperwork.
It depends. A product transfer is simpler and quicker, but you’re limited to your current lender’s deals. A remortgage might get you a better interest rate or more flexible terms, but it can take longer and require more checks.
Yes, some lenders allow you to borrow more (known as a “further advance”) as part of the product transfer process. However, this could trigger additional checks and may come with a different interest rate.
Not usually. Most lenders won’t carry out a credit check or full affordability assessment for a straightforward product transfer, unless you're making changes to your loan amount or term.
No. Since you’re staying with the same lender and not changing ownership or borrowing more money, solicitors are not typically needed.
Yes! At Drummonds Finance Group, we can help you:
Review your lender's current offers
Check if a remortgage is better value
Handle all the paperwork for you
Many lenders offer decisions in principle within 24 hours. We’ll guide you through quickly.
Yes, with the right documentation (SA302s, tax returns, etc.), we help many self-employed clients get approved.
6x salary is usually more restricted and may require higher salary or specific job roles.
Not always, but they are more accessible to those with strong credit and reliable salary.
Yes, especially if they are in a professional career or buying jointly or have a good income.
A student let mortgage is a type of buy-to-let mortgage designed for landlords who want to rent a property specifically to university students. These mortgages allow for multiple tenancies under one roof — typically let on a per-room basis — which is common in student housing near Oxford’s university campuses.
Oxford is one of the most in-demand university cities in the UK. With two major institutions, the University of Oxford and Oxford Brookes University, there’s a consistent flow of students requiring quality rental accommodation. This makes Oxford an attractive and potentially high-yield location for student landlords. The city’s limited housing supply also supports long-term capital growth.
Historically, student properties in Oxford have performed well in both rental yield and capital appreciation. The ongoing housing shortage, combined with consistently high student demand, suggests prices will likely continue to grow over the medium to long term. Well-maintained HMOs (houses in multiple occupation) in popular areas like Cowley, Headington, and Jericho are especially sought after.
£375,000 to £500,000 for 3 to 4 bed HMOs
£500,000+ for larger properties in prime areas Areas like East Oxford, Cowley Road, and Headington offer strong returns and consistent tenant demand.
Lenders will usually require:
A minimum 25% deposit
Proof of income or rental experience
A property with valid HMO licensing (if more than 3 tenants)
A tenancy agreement with individual ASTs (Assured Shorthold Tenancies) Some lenders prefer experienced landlords, but we work with those happy to lend to first-time investors too.
With all documentation ready and the right lender, we can often secure a student let mortgage within 2 to 3 weeks. The process may take longer if:
The property requires an HMO license review
You’re using complex income structures or limited company purchases At Drummonds Finance Group, we handle all the paperwork and liaise with solicitors to keep the process on track.
Proximity to campus, properties near Oxford Brookes or university departments rent quickly
Licensing, ensure the property meets Oxford City Council's HMO licensing rules
Condition, student tenants expect clean, modern accommodation with good internet and security
Rental demand, look at local letting agents' data to assess demand and average rents
Yield vs. capital growth, consider whether your priority is monthly cashflow or long-term value increase
As a local broker, we have in-depth knowledge of Oxford's property market, enabling us to provide personalized advice and access to exclusive deals not available through national lenders
We can typically secure an Agreement in Principle within 1–48 hours, depending on your circumstances.
Yes, we work with lenders offering 5% deposit mortgages and can advise on schemes like Shared Ownership to help you get on the property ladder
Absolutely. We specialize in securing mortgages for self-employed clients, even with just 1–2 years of accounts.
Proof of ID (passport or driving license)
Recent payslips (last 3 months)
Bank statements
Proof of deposit
For self-employed: 2–3 years of tax overviews and SA302s
Legal fees
Valuation/survey fees
Mortgage arrangement fees
Stamp Duty (if applicable)
Moving costs
Home setup expenses
On average, a mortgage can take 2 weeks to complete from application to offer, depending on the complexity of the case.
At Drummonds Finance Group, we often secure a mortgage offers faster than 2 weeks for straightforward applications with all documents ready. Factors that can speed up the process include:
Fast responses from the client
Clear credit history
Prompt valuations and solicitor work
We work closely with lenders, valuers, and solicitors to keep things moving and minimise delays wherever possible.
Yes, Oxford is widely regarded as one of the best places to invest in property in the UK. It boasts a strong local economy, world-class educational institutions, a vibrant cultural scene, and excellent transport links. The demand for housing in Oxford remains high due to its university population, medical and research centres, and proximity to London. Whether you're a first-time buyer, a home mover, or a buy-to-let investor, Oxford offers long-term value and strong rental potential.
While no one can predict the market with complete certainty, Oxford’s housing market has shown consistent long-term growth. Limited housing supply, a high volume of renters, and ongoing demand from students, professionals, and commuters support future price resilience. Economic forecasts and local development plans indicate that prices in Oxford are likely to continue rising over time, especially in well-connected and sought-after areas.
As of 2025, the average house price in Oxford is approximately £525,000, though this varies widely depending on the area and property type.
Flats typically range from £275,000 to £400,000
Terraced homes average around £500,000
Detached houses often exceed £800,000 Premium areas like Jericho, Summertown, and Headington command even higher prices.
Proximity to transport links – access to Oxford Parkway or mainline rail for London commuters can affect value.
School catchment areas – top-rated schools like Cherwell School and Oxford High can increase demand.
Leasehold vs. Freehold – many central Oxford flats are leasehold, so always check the remaining term and service charges.
Flood zones – some areas near the River Thames or Cherwell may carry flood risks.
Planning and development – check the Local Plan to see if any major changes or developments could affect the area.
Shared Ownership is a government-backed scheme that allows you to buy a share of a property (usually 10%–75%) and pay rent on the remaining share. You can gradually buy more shares over time, a process known as staircasing.
Pros:
Lower deposit & mortgage
Ideal for first-time buyers
Option to staircase over time
Access to new build or modern homes
Cons:
You’ll pay rent + mortgage
Leasehold fees may apply
Limited choice of locations
Selling process can be slower
To qualify, you typically need to:
Your annual household income must not exceed £80,000 (£90,000 per annum within Greater London) You must not currently own a property in the UK or overseas. You are a British or EU Citizen, or you have the right to remain in the UK. You must be over 18 if you are applying for a mortgage.
Deposits are usually much lower than for full market value homes — often around 5–10% of the share you're buying, not the full property price.
✅ Example: If you're buying a 25% share of a £300,000 property (£75,000), a 5% deposit would be just £3,750.
The remaining share is usually owned by a housing association or housing provider. You pay rent on that share — often at a reduced rate compared to market rents.
Yes! Through a process called staircasing, you can buy additional shares — all the way up to 100% in most cases. Each time you staircase, your rent reduces accordingly.
Yes. You can sell your share at any time. The housing provider usually has “first refusal” to find a buyer for a set period. If they can't, you can sell it on the open market.
Yes — but only for the share you're buying. So if you're purchasing 40% of a home, your mortgage is only for that portion, making borrowing more accessible for many.
Yes, Shared Ownership properties are leasehold. This means you’ll likely pay service charges and ground rent, so it's important to factor that into your monthly costs.
Definitely. We’re experienced in helping first-time buyers:
Understand Shared Ownership in plain English
Secure great mortgage deals with low deposits
Work out affordability with combined rent/mortgage payments
Plan ahead for staircasing
Yes, many lenders now accept bank income as part of your affordability—especially if it’s consistent.
Absolutely. We help present your case with payslips, P60s, and rota history to maximise your declared earnings.
Some lenders offer exclusive NHS mortgage products or waive certain fees. We know which ones do.
You may be able to borrow 4.5–6x your salary depending on the lender, your role, and income mix.
As little as 5% for residential purchases, subject to credit checks.
A valuer may still request an EWS1 if they believe there could be unsafe materials in the external wall system. This does not always stop the mortgage. We can speak to the lender and confirm whether alternative evidence is acceptable.
No. Many lenders now take a flexible approach. Whether the form is needed depends on the building materials, height and remediation status.
Yes, in many cases. Lenders often have internal teams who assess the building without requiring an EWS1, especially if the building is part of a recognised protection or remediation scheme.
It may take longer and some buyers may hesitate, but it is possible. Updated lender guidance has made it much easier to get mortgages on flats without EWS1 forms.
An EWS1 is a form used for mortgage valuation. A FRAEW is a detailed fire risk appraisal used by building owners to understand risks and plan remediation. In some cases the FRAEW informs the EWS1.
Request any available documentation from your managing agent. This may include an EWS1 form, a fire risk assessment or a remediation plan.
Due to demand and a shortage of qualified assessors it can take six to twelve months. This is why lenders often look for alternatives.
No. The Act introduces protections and remediation responsibilities but lenders still decide individually when an EWS1 is required.
Yes. Many lenders will still lend on buildings with cladding if remediation is confirmed or the building is part of a recognised government scheme. We help you check eligibility.
Your managing agent should confirm whether the building is part of a remediation scheme, has a remediation plan in place or is already classed as safe.
There is a nationwide shortage of qualified assessors and high demand for assessments. This causes long waiting times and higher costs.
Not yet. Usage has reduced, but it is still used for mortgage valuations on certain buildings where materials or risks are unclear.
Yes, in many cases. Lenders often have internal teams who assess the building without requiring an EWS1, especially if the building is part of a recognised protection or remediation scheme.
A commercial mortgage is a loan secured against a property that is used for business purposes. This includes offices, warehouses, retail units, and other commercial premises. Unlike residential mortgages, they are assessed based on the business’s financial health and the potential of the property.
A business mortgage works similarly to a residential mortgage, but it's tailored to commercial borrowers. You borrow a sum to buy or refinance a commercial property, and repay it over an agreed term, usually with fixed or variable interest rates.
You can apply for a commercial property mortgage if you are:
A limited company
A sole trader or partnership
A landlord investing in business premises
A trading business owner buying property for your own operations
Lenders will assess your business’s income, credit history, and the viability of the property.
Most commercial mortgage lenders require a deposit between 25% and 40%. The exact percentage depends on your financial position, the property's location, and your business type.
Your commercial property loan amount depends on your business income, the value of the property, and your deposit. Most lenders offer up to 75% Loan-to-Value (LTV), and loans can range from £100,000 to several million pounds.
Commercial mortgage interest rates vary by lender and can be either fixed or variable. Factors influencing the rate include:
The loan amount and term
Business creditworthiness
Property type and location
Current base interest rates
Commercial loan terms typically range from 3 to 25 years. Some lenders offer interest-only options, especially for investors who plan to refinance or sell in the future.
Commercial mortgages are usually not regulated by the Financial Conduct Authority (FCA), unless more than 40% of the property is used for residential purposes. It’s important to work with a reputable broker to ensure you understand the risks.
Yes, but options are limited. Lenders prefer additional income sources or a larger deposit.
Universal Credit award letters, 3–6 months’ bank statements, proof of ID and deposit.
No—but missed payments or overdrafts might. Keep finances in check.
This depends on income, outgoings, and credit profile. We’ll calculate it for you.
A House in Multiple Occupation (HMO) is a property rented out by at least three unrelated tenants who share communal facilities like a kitchen or bathroom. Common examples include student houses, shared professional homes, or multi-let properties.
Yes, most standard buy to let mortgages are not suitable for HMOs. You’ll need a specific HMO mortgage, which is designed for properties let to multiple tenants under separate agreements. These often have different criteria and require specialist lenders.
While requirements vary by lender, typical criteria include:
At least 25% deposit (more for larger HMOs)
Experience as a landlord (though some lenders accept first-time landlords)
Minimum and maximum number of lettable rooms
Property must meet licensing and safety standards
May require a personal guarantee if using a limited company
Yes, in most cases. If your property is let to five or more unrelated people, it's considered a large HMO and will usually require a licence from the local council. In Oxford, Article 4 Direction applies, meaning even smaller HMOs need planning permission to convert. Always check local authority rules.
Higher rental yields compared to standard buy to let
Multiple income streams from one property
Strong demand in student and professional markets
Can be more tax efficient when owned via a limited company
Higher upfront costs, including licensing and compliance work
More complex management and maintenance
Can be harder to remortgage or sell
Fewer lenders offer HMO products than standard BTL
Risk of voids if not fully tenanted
Yes, and many landlords choose this route for tax efficiency. We work with lenders who specialise in limited company HMO mortgages, including for SPVs (Special Purpose Vehicles).
Cowley, Headington, East Oxford, and Botley are among the most popular HMO hotspots. These areas have high demand from students and young professionals and offer strong rental yields.
Yes, subject to the property’s value, rental income, and your portfolio status. HMO remortgages can help release capital for further investment or refurbishment projects.
Yes, many lenders now offer mortgage options for borrowers well into their 60s, 70s, and even 80s. Your eligibility will depend on factors like income, pension provision, loan purpose, and repayment strategy. At Drummonds Finance Group, we work with lenders who specialise in later-life lending.
Most high street lenders allow mortgages to run until age 70 to 75, but some specialist providers will go up to age 80 or even 90, especially if the mortgage is affordable through pension income or assets. In some cases, there’s no upper age limit at all, depending on the product.
Options include:
Standard residential mortgages (repayment or interest-only)
Retirement interest-only (RIO) mortgages
Equity release or lifetime mortgages
Buy to let mortgages We’ll help you understand the pros and cons of each and recommend the most suitable solution.
Yes, pension income is widely accepted by lenders. This includes private pensions, annuities, state pension, and in some cases, drawdown arrangements. We can guide you on how to evidence your income for mortgage affordability assessments.
Absolutely. Many people remortgage after retirement to reduce monthly payments, release equity, consolidate debt, or switch to a better deal. We’ll review your options and help ensure the product aligns with your retirement plans.
A RIO mortgage is designed for older borrowers and typically has no fixed end date. You pay only the interest each month, and the loan is repaid when you pass away or move into long-term care. It can be a flexible and affordable way to borrow later in life.
That depends on the lender and mortgage type. Some require full repayment by a set age (e.g. 75), while others allow lending into later life as long as you meet the criteria. If you're using a RIO or equity release mortgage, repayment is usually delayed until the property is sold.
Yes, many retired clients are still eligible for mortgages, especially if they have a steady pension income or substantial assets. We regularly help clients in their 60s and 70s secure mortgages even without employment income.
Equity release is regulated by the FCA and, when done properly, can be a safe way to access money tied up in your home. We only recommend products from providers that meet the Equity Release Council standards. However, it’s essential to get advice tailored to your full financial picture.
We specialise in helping older borrowers secure the right mortgage, whether you're downsizing, remortgaging, releasing equity, or purchasing a new home. We’ll guide you through every step, explain your options clearly, and match you with lenders who understand that age doesn’t define affordability.
Working with a local mortgage broker like Drummonds Finance Group gives you direct access to expert advice, local property knowledge, and exclusive deals. We understand Bicester’s property market, school catchments, and commuter trends, helping you make informed decisions with confidence.
As of 2025, the average property price in Bicester is approximately £360,000, although this varies by area and property type.
Flats average around £220,000
Terraced houses are approximately £300,000
Detached homes in areas like Kingsmere or Southwold can exceed £500,000
Yes, Bicester is a growing commuter town with two rail stations providing direct links to London and Oxford. It's popular with families, first-time buyers, and investors alike. Ongoing development and regeneration plans make Bicester an attractive location for long-term property investment.
We offer a full range of mortgage options tailored to Bicester clients, including:
First-time buyer mortgages
Help to Buy and Shared Ownership
Remortgages and product transfers
Buy to let and HMO mortgages
Self-employed and contractor mortgages
Key worker and NHS mortgages
In many cases, we can secure a mortgage offer within 2 to 3 weeks of application, assuming all documents are in order. Completion timelines vary depending on solicitors, surveys, and the property chain.
Yes. We work with specialist lenders who consider applicants with missed payments, CCJs, defaults, or low credit scores. Every case is assessed individually.
Yes, rental demand is high due to Bicester’s growing population, strong employment base, and its position on the London commuter belt. Key rental areas include Bure Park, Kingsmere, and Langford Village. Yields are competitive, especially for modern 2–3 bed homes and HMOs near transport links.
Typically, you’ll need:
Proof of ID and address
Payslips and bank statements (or tax returns if self-employed)
Proof of deposit
Credit report We’ll guide you through the exact requirements based on your situation.
Yes, many lenders will consider income beyond just your basic salary. We work with providers who accept variable elements like flight hours, overseas allowances, and per diems, especially if you can show consistency over the last 6 to 12 months. Presenting your payslips correctly is key, and we’ll help you do exactly that.
Not necessarily. While a full-time, permanent role helps, we’ve successfully secured mortgages for crew members on fixed-term, rolling, and even seasonal contracts. The lender’s decision often comes down to income stability and how recently you’ve been working. Even if you're returning from a break or just changed airlines, we can help you navigate the application.
Most high street lenders struggle with the complexity of aviation payslips. They may overlook your flight-based earnings or undervalue your total income. That’s why using a broker with aviation experience is so important. At Drummonds, we know how to present your income clearly and match you with lenders who understand airline pay structures.
Yes, it’s possible. Some lenders are open to international contracts or offshore income, especially if you're a UK resident or have plans to return. Lenders may require additional documentation, such as currency conversion statements or proof of continued employment, but we regularly help pilots working abroad find suitable mortgage solutions.
If you’ve just accepted a new role with an airline, whether as a pilot, crew member, or engineer, some lenders will approve your mortgage based on a signed employment contract. The key is choosing a lender who accepts projected income or probationary terms. We’ve helped many clients secure a mortgage before even starting their new role.
Self-employed airline contractors can absolutely get a mortgage, but the application process is slightly different. You’ll typically need at least one full year of trading history, and lenders will review your accounts or SA302s. If you’ve only recently gone self-employed, we can still explore options, particularly if you have consistent day-rate or contract work.
Yes, and we help with this often. Whether you’re remortgaging to secure a better rate, raise capital, or change your repayment structure, we’ll guide you through the process. Lenders may ask for updated payslips or a new affordability assessment, especially if your income has changed, but we handle all the paperwork for you.
Absolutely. We understand the aviation industry often involves sabbaticals, parental leave, or furlough gaps. As long as you’re back in employment or have a confirmed start date, we can often help you secure a mortgage. We’ll explain your circumstances to the lender and ensure they understand any gaps on your record.
No, but working with a local broker like Drummonds Finance Group means you’ll benefit from our deep knowledge of the Banbury property market, local estate agents, and regional lender preferences — which can make the mortgage process smoother and more efficient.
Absolutely. Whether you’re buying a flat near Banbury Cross or a home in Bodicote or Bretch Hill, we’ll guide you through the entire process, explain your options, and secure the most competitive deal tailored to your deposit, income, and credit profile.
Yes, we regularly help homeowners across Banbury review their mortgage when fixed deals end, or to release equity. We compare over 100 lenders to find lower rates, better terms, or raise funds for home improvements or debt consolidation.
We work with both new and experienced landlords purchasing investment properties in Banbury and surrounding Oxfordshire villages. Whether you're buying in a personal name or through a limited company, we’ll structure your mortgage tax-efficiently and with growth in mind.
We can usually secure an Agreement in Principle within 24 hours. A full mortgage offer typically takes 1 to 3 weeks depending on the lender, but we keep everything moving so there are no unnecessary delays.
Yes, we have access to lenders who consider applicants with defaults, missed payments, or previous credit issues. We’ll assess your situation and recommend the most realistic route forward, with transparency at every step.
Yes, Banbury is a popular choice for first-time buyers due to its mix of affordable housing, good transport links, and growing amenities. Areas like Hanwell Fields and Hardwick offer great value, and we can help you understand your borrowing options and what schemes may apply to you locally.
House prices in Banbury have remained relatively stable, with modest growth over the past year. The market remains competitive, particularly for family homes and investment properties. We stay updated on local trends and can guide you based on real-time valuations and lender appetite.
No. BM Solutions only accepts product transfer applications through authorised mortgage brokers like Drummonds Finance Group.
Because we make it faster, easier and completely free. We’ll find your best BMS rate, handle the paperwork, confirm the switch and keep you updated throughout. There’s no waiting on hold or dealing with call centres, just personal help from an experienced broker who knows the process inside out.
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📍 Based in Oxfordshire, helping Birmingham Midshires clients across the UK
You can apply up to six months before your deal ends. In the final three months, many clients can switch without early repayment charges.
Usually not. Most BM Solutions product transfers do not require full income checks or new legal work if you’re not changing your mortgage amount.
We provide this service completely free. BM Solutions does not typically charge legal fees or admin fees for a product transfer.
Additional borrowing usually requires a separate application. We can explore further advance options if you need extra funds.
BM will use an indexed valuation. If you believe it’s outdated or inaccurate, we can help you request a formal revaluation.
A product transfer simply means you’re staying with Birmingham Midshires but moving onto a new rate. You’re not changing lenders, so there’s no valuation, solicitor or full application needed. It’s quick, easy and usually sorted within a few days.
Usually no. If you’re not changing the amount borrowed or adding new names to the mortgage, BMS won’t ask for fresh income documents. They already have your details on file, so it’s a light-touch process.
No. Birmingham Midshires only performs a soft credit check, not a full search. That means it won’t appear on your credit file or impact your score.
Most product transfers are completed within a few working days once your new rate is confirmed. We can start the switch early and schedule your new deal to begin as soon as your old one ends.
No, you won’t need a solicitor or any legal work for a standard Birmingham Midshires product transfer. Everything is done internally by the lender.
If you don’t arrange a new deal, Birmingham Midshires will automatically move you onto their standard variable rate, which is usually higher. That’s why it’s worth reviewing your rate a few months before your deal ends.
You can sometimes adjust the term during a product transfer, but if you want to borrow extra (for example, home improvements), that would require a new application or additional borrowing. We’ll guide you through both options and see which works best.
Yes, in most cases you can. Because you’re not applying for a brand-new mortgage, the lender doesn’t reassess your income in detail, so job changes rarely cause problems.
Sometimes, but not always. A product transfer is quicker and simpler, while a remortgage can offer access to a wider range of deals if you’re making big changes or releasing funds. We’ll compare both for you, side by side, and tell you what saves you more.
(You can also visit our Birmingham Midshires Product Transfer vs Remortgage page for a detailed comparison.)
Yes, you can. Many lenders offer mortgages for foreign nationals living and working in the UK. You’ll need proof of income, the right to live here (a valid visa or exemption). Having a UK bank account and some credit history also helps.
It depends on your situation. If you’re living in the UK, most lenders ask for at least 10–25%. If you’re based overseas, the deposit could be higher — often 25–35%. The stronger your financial profile and UK ties, the better the deal you’ll be offered.
Yes, some lenders can consider foreign income (for example, if you’re paid in euros or dollars). They’ll usually apply a small exchange-rate adjustment for risk and will ask for full documentation showing regular, stable earnings.
It helps, but it’s not essential. Some lenders can work with applicants who are new to the UK. If you’re just starting out, setting up a UK bank account and registering on the electoral roll can strengthen your profile over time.
Yes. If you’re visa-exempt because you work for an international organisation such as the European Space Agency (ESA), the United Nations, or a European institution, your case will be treated slightly differently. We work with lenders familiar with these employment types and can help present your application correctly.
You’ll usually need:
Passport or national ID
Visa or visa-exemption proof (if applicable)
Proof of address and bank statements
Payslips or income evidence (UK or overseas)
Deposit and proof of funds
We’ll help you prepare everything before submitting to lenders so the process goes smoothly.
Yes, you can. These are called non-resident foreign national mortgages. Lenders will assess your income, deposit size, and reason for buying. The process takes a bit longer and usually needs a larger deposit, but it’s absolutely possible, we arrange them regularly. You will need to be in the UK at the time of the advice.
Yes. Many of our clients buy UK investment properties as foreign nationals. Lenders will look at your income, rental projections, and deposit. Some will require you to live in the UK, while others are open to overseas investors, we’ll point you to the right one.
Your mortgage doesn’t automatically end when your visa expires, but it could affect future remortgaging or borrowing. It’s always best to keep your broker informed of any changes to your immigration or work status so we can help you plan ahead.