Money Matters

You’re probably here because you need advice

When you need to make a big decision, we’re right by your side

Whatever journey you’re about to embark upon – buying, remortgaging or simply looking to protect your home – you won’t want to do anything until you know exactly what’s what. Our advisers give you all the information you need to make the right decisions and move forward with confidence.

Ready to hear a little more about what we can do for you? Talk to us and we’ll make sure your next move is on firm foundations.

Welcome to Andrews Mortgage Services.

Helpful experts making the difference that matters

Buying a home is a big commitment. So whether it's your ﬁrst home or your ﬁfth, you won’t want to do anything until you know exactly what’s what. Our mortgage advisers will give you all the information you need to choose the right mortgage for you.

Your adviser may ta lk about the options around helping to protect your home, belongings, hea lth and loved ones. If you’re remor tgaging or moving home, it ’s a good t ime to rev iew a ny ex ist ing a rra ngement s to help ma ke sure you have suﬃcient cover a nd t hey ’re st ill t he rig ht product s for you.

Once you’ve had your mor tgage approved, t he nex t step is to t hin k about protect ing your home a nd loved ones. The mor tgage isn’t usua lly t he on ly pay ment you need to ma ke each mont h. W hat about covering ever yday bills a nd ex penses? Ut ilit y bills, food shopping, t ravel cost s, childca re –t he list could go on.

It’s not nice to think about, but:

• How wou ld one pa r t ner cope ﬁna ncia l ly w it h t he deat h or cr it ica l il lne s s of t he ot her ?

• Cou ld you a ﬀord to ma int a in your cur rent life st yle?

• Cou ld you a ﬀord t he ﬁna ncia l cost s of ra ising your fa m i ly ?

Having protection cover in place could help you:

• Ma int a in your st a nda rd of liv ing

• Pay your mont h ly bil ls a nd meet your da i ly liv ing cost s

• Pay oﬀ your debt s

• A ﬀord to st ay in your home

How much will it cost?

P rem ium s a re ba sed on your per sona l circum st a nce s. Usua l ly, t he younger you are, the less you’ll pay for protection produc t s We a l l wa nt secur it y for our future, a chance to maintain the ﬁnancial st abi lit y we have worked so ha rd for.

T hat ’s why it ’s impor t a nt to t h in k a head a nd pla n for t he f ut ure.

Who can be covered?

It’s a lso impor ta nt to remember t hat it ’s not just t he ma in wa ge ea r ner t hat you may need to consider when work ing out t he a mount of cover you need Have you t houg ht about t he va lue of t he work you or your pa r t ner doe s a round t he home?

How can your adviser help you?

It rea l ly is impor t a nt to t h in k about protec t ing your fa m i ly ’s f ut ure.

For more help a nd adv ice t a l k to your adv iser, t hey ’l l be able to:

• A nswer a ny questions a nd concerns you may have.

• Rev iew your requirement s on a reg u la r ba sis, t a k ing into account a ny cha nge s to your com m it ment s or life st yle.

Borrowing to buy your home

Mor tgage

W hen you buy your home, you’ll probably need to ta ke out a loan to pay for it. A mor tgage is a loan that’s secured against your home. This means that if you ca n’t keep up w it h t he repay ment s, your mor tgage prov ider ca n sell your house to recover t he money you owe. That ’s why get t ing t he rig ht adv ice is impor ta nt.

Remor tgage

If you cha nge your mor tgage to a new lender by remortgaging, you may find you benefit from a better mor tgage rate t ha n t he one you’re current ly pay ing. Some lenders a lso offer to pay t he lega l cost s a nd va luat ion fees a ssociated w it h remor tgag ing. The process for remortgaging your home can take around eig ht to t welve week s, a s t he new lender w ill need to ma ke simila r check s to t hose made when you first boug ht your home. You may have to pay ea rly repay ment cha rges to your ex ist ing lender if you remor tgage. These a re a ll a rea s your adv iser w ill be able to ex pla in in more deta il a nd help you w it h.

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

You may have to pay a n ea rly repay ment cha rge to your ex ist ing lender a s well a s a “deed discha rge fee”.

It all adds up

Costs involved in buying a home

Applicat ion/a r ra ngement fee s T he cost s your lender w il l cha rge you for a r ra ng ing your mor t ga ge.

S olicitors fees

A s well as paying a solicitor or licensed conveya ncer for t he work he or she doe s, you’l l have to pay la nd reg ist r y cha rge s a nd loca l sea rch fee s.

Stamp duty land tax (SDLT)

Rates for a single property

You pay SDLT at these rates if, after buying the property, it is the only residential

property you own. You usually pay 5% on top of these rates if you own another residential property.

to £125,000

The next £125,000 (the

Example

In April 2025 you buy a house for £295,000. The SDLT you owe will be calculated as follows:

• 0% on the ﬁrst £125,000 = £0

• 2% on the second £125,000 = £2,500

• 5% on the ﬁnal £45,000 = £2,250

• total SDLT = £4,750

If you’re buying your ﬁrst home

You can claim a discount (relief) if the property you buy is your ﬁrst home. You’re eligible if you and anyone else you’re buying with are ﬁrst-time buyers.

You’ll pay:

• no SDLT up to £300,000

• 5% SDLT on the portion from £300,001 to £500,000

If the price is over £500,000, you cannot claim the relief. Follow the rules for people who’ve bought a home before.

Example

You are a ﬁrst-time buyer and purchase a property for £500,000. The SDLT you owe will be calculated as:

• 0% on the ﬁrst £300,000 = £0

• 5% on the remaining £200,000 = £10,000

• total SDLT = £10,000

Higher rates for additional properties

You’ll usually have to pay 5% on top of SDLT rates if buying a new residential property means you’ll own more than one.

Use the SDLT calculator or check the higher rates to work out how much tax you’ll pay.

If you’re replacing your main residence

You will not pay the extra 5% SDLT if both of the following apply:

• the property you’re buying is replacing your main residence

• your previous main residence was sold within 36 months of completing your new purchase

If you have not sold your main residence on the day you complete your new purchase, you’ll have to pay higher rates. This is because you own 2 properties.

Typical upfront costs Estimate for your property

Your home insurance

Once you have your mor tgage sor ted, your lender w ill insist you have buildings insura nce in place. The majority of lenders make building insurance mandatory on freehold (a nd some lea sehold) proper t ies, t hat have a mor tgage on t hem a nd a re not ow ned out rig ht. You mig ht also want to think about insuring your personal belongings. It ’s a lways a good idea to put some protect ion in place aga inst a ny loss or da mage to t he t hings you ow n.

What is home insurance cover?

Buildings insurance

Buildings insurance for the structure of t he home including perma nent ﬁ x tures a nd ﬁt t ings, like k itchens a nd bat hrooms.

Contents insurance

Content s in su ra nce for t h i ng s you ke ep in you r home, li ke f u r n it u re, T Vs and personal belongings. You can buy both ty pes of insurance separately or, in ma ny ca ses, you ca n get t hem a s a joint policy from one insura nce compa ny. Your adv iser w ill be able to ta lk in deta il about protect ion most suited for your needs.

What protection does buildings and contents insurance typically oﬀer ?

Buildings

Bui ld ing insura nce cover s los s or da mage to t he str ucture of your home, for ex a mple, to wa l ls, per ma nent ﬁ x t ure s a nd ﬁt t ing s, gate s a nd fence s, drives and patios Domestic outbuildings such as sheds, ga rages a nd greenhouses a re a lso covered

Content s insura nce cover s your per sona l belong ing s a ga inst los s or da ma ge. Th is include s ever y t h ing you wou ld t a ke w it h you if you moved home – such a s f ur n it ure, k itchen applia nce s, cur t a ins, bedd ing, clot h ing, telev ision, computer equipment a nd jewel ler y

Events typically covered as standard including but not limited to:

• Stor

Subsidence

• E x tended accident a l da ma ge where da ma ge occur s sudden ly a s a re su lt of a n unex pec ted or un intent iona l event. For ex a mple, spil ling red w ine on t he car pet.

• Cover for los s a nd da ma ge to per sona l belong ing s a nd va luable s in a nd away f rom t he home.

• Fa m i ly L ega l P rotec t ion

I M PO RTANT NOTI C E: Home in su ra nce is de sig ned to cover cer t a in u n fore seen event s, but it doe sn’t cover ever y t h ing. For ex a mple, it doe sn’t cover t h ing s li ke genera l wea r a nd tea r or da ma ge t hat happen s g radua l ly over a per iod of t ime. T he above t able out line s t y pica l key feat u re s covered by t he home in su ra nce but doe s not prov ide det a i ls of lim it at ion s a nd exclusion s a nd t he cover w il l va r y depend ing on t he polic y selec ted We recom mend t hat you spea k to you r adv iser about t he most su it able level of cover to meet you r need s

How much can you borrow ?

This depends on:

• your income a nd outgoings

• your credit histor y for at lea st t he la st si x yea rs

• whet her you’re able or prepa red to ma ke cha nges to your lifest yle t hat may reduce your outgoings

• how much deposit you have

You’l l need to find out how much you ca n bor row before ma k ing a n offer on a proper t y Ma ke sure you’re rea list ic in what you ca n com for t ably bor row a nd t hat you ca n a fford to ma ke t he pay ment s before you t a ke t he mor t ga ge on. Some lender s w il l work t h is out before you find a proper t y – t h is is ca l led a n approva l or decision in pr inciple. T h is w i l l help you k now t he ma x imum offer you ca n ma ke on a proper t y a nd w il l a lso speed up t he mor t ga ge proce s s.

L ender s usua l ly ba se t heir ca lcu lat ions on your g ua ra nteed ea r n ing s such a s ba sic pay, but some w il l consider pa r t or a l l of a ny reg u la r over t ime or bonuse s. T hey ’l l wa nt to see proof of your income.

How long will my mor tgage last?

T h is is k now n a s t he mor t ga ge ter m

Mor t ga ge s usua l ly have a ter m of bet ween 5 a nd 40 yea r s. A mor t ga ge shou ld nor ma l ly be for t he shor te st ter m you ca n a fford a s t h is keeps t he overa l l cost dow n. A longer t ha n nece s sa r y ter m mea ns you’l l pay more intere st. You shou ld a lso consider t he impac t of f ut ure intere st rate increa se s, a nd how t he se may a ffec t your abi lit y to ma int a in your mont h ly pay ment s. It ’s adv isable t hat your mor t ga ge ter m ends before you ret ire, a s it ’s un li kely your mor t ga ge repay ment s w il l be a ffordable on a ret irement income.

Selecting your mor tgage

Your adv iser w i l l go t h roug h your needs a nd preference s a nd use t he se to ﬁ lter out a ny mor t ga ge produc t s t hat don’t meet your requirement s. T h is w i l l reduce t he a mount of produc t s your adv iser w i l l consider for you.

Consolidating debts

T h is isn’t suit able for ever yone a nd you’l l need to ca ref u l ly consider t h is w it h your adv iser. If you have ex ist ing debt s, it may be pos sible for you to add t he se to your mor t ga ge rat her t ha n cont inue w it h your ex ist ing repay ment a r ra ngement s. W hen you add loa ns to your mor t ga ge, it ’s impor t a nt to under st a nd t he r isk s:

• Add ing shor t-ter m loa ns to your mor t ga ge mea ns you’l l repay t hem over a longer ter m Unsecured loa ns a re genera l ly pa id back over a shor ter ter m t ha n mor t ga ge loa ns W h i le t he intere st rate on your mor t ga ge may be lower t ha n you pay on your loa ns, by add ing t hem to your mor t ga ge you’re li kely to pay more over t ime. It may not be appropr iate to consolidate sma l l or shor t-ter m debt s.

• Your ex ist ing debt s m ig ht not be secured on your proper t y. By add ing t hem to your mor t ga ge t hey become secured on your proper t y.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

If you’re having diﬃculty paying your loans, it’s worth speaking to your creditors to see if you can negotiate better terms before considering adding them to your mortgage.

Ways to repay your mor tgage

There a re t wo st yles of mor tgage repay ment –‘repay ment ’ a nd ‘interest on ly ’ .

Repayment mor tgages

Wit h a repayment mor tgage, your mont hly payments to t he lender go towa rds reducing t he a mount you owe, a s wel l a s pay ing t he intere st t hey cha rge. T h is mea ns t hat each mont h you’re pay ing oﬀ a sma l l pa r t of your mor t ga ge.

The advantages:

You ca n see your mor t ga ge get t ing sma l ler a nd, prov ided you ma int a in t he required pay ment s, you a lso have t he cer t a int y your mor t ga ge w il l be repa id at t he end of t he ter m

The disadvantages:

At t he sta r t, most of your payments go towa rds t he interest on your mor t ga ge. So in t he ea rly yea r s, t he a mount you owe won’t reduce by ver y much.

Interest only mor tgages

T he se mor t ga ge s a re now on ly oﬀered w it h ver y st r ic t cr iter ia a nd a re not ava i lable to ever yone. Wit h a n intere st on ly mor t ga ge you on ly pay t he intere st cha rged on your loa n, so you’re not ac t ua l ly reducing t he loa n it self. You’l l need to have a fea sible repay ment strateg y in place to repay your loan at the end of the term, for example inve st ment s a nd/or sav ing s pla ns L ender s w i l l wa nt to see proof of t he se.

The advantages:

If t he sav ing s or inve st ment pla n you choose per for m s wel l, t hen you cou ld pay oﬀ your mor t ga ge ea rlier compa red to a repay ment mor t ga ge.

The disadvantages:

Ver y few investments or savings pla ns a re g ua ra nteed to repay your mor t ga ge in f u l l. If your sav ing s or inve st ment pla n doe sn’t cover t he f u l l a mount, you’l l be re sponsible for pay ing t he d iﬀerence. Your mor t ga ge lender ca n dema nd repay ment, a nd t hey ’l l cha rge you intere st on a ny out st a nd ing ba la nce unt i l it ’s repa id. You should discuss t he risks wit h your adviser a nd ma ke sure you’re com for t able w it h t hem.

If you’re hav ing d iﬃcu lt y pay ing your loa ns, it ’s wor t h spea k ing to your cred itor s to see if you ca n negot iate bet ter ter m s before consider ing add ing t hem to your mor t ga ge.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Common phrases related to mor tgages and home buying

There a re lot s of different interest rate opt ions offered by lenders. Interest rates vary from product to product and are dependent on different factors, such as how la rge a deposit you have. Here is our g uide to t he different opt ions ava ilable.

T h is is a st a nda rd intere st rate set by t he lender t hat ca n go up or dow n in line w it h ma rket rate s, such a s t he Ba n k of Eng la nd’s ba se rate

Advantages:

• You have more ﬂexibility and can usually repay your mortgage without any early repayment charges.

Disadvantages:

• Your monthly payments can go up and down which can make budgeting diﬃcult.

Some mortgages start with an initial interest rate set lower than the SVR for a set period of time. At the end of this period, the lender will change the interest rate to the SVR. It’s a good idea to talk to your adviser at this stage because the lender ’s SVR may not be the best deal available

Advantages:

• Your monthly payments can go up and down which can make budgeting diﬃcult.

• SVR mortgages are not usually the lowest interest rates that lenders oﬀer

• You r pay ment s cou ld cost you les s in t he ea rly yea r s But you mu s t b e c on ﬁdent you c a n a ﬀord t he pay ment s when t he d i s c ou nt end s

Disadvantages:

• Your monthly payments can go up or down which can make budgeting diﬃcult.

• If you want to repay the loan early, there could be an early repayment charge

If you choose a fixed rate mortgage, your monthly payment will stay the same for a set period, usually two, three or five years. At the end of your fixed rate, your lender will usually change your interest rate to their SVR. It’s a good idea to talk to your adviser at this stage because the lender ’s SVR may not be the best deal available

Advantages:

• You know the exact amount you’ll need to pay each month, which makes budgeting easier

• Your monthly payment will stay the same during the ﬁxed period, even if other interest rates increase.

Disadvantages:

• Your monthly payment will stay the same during the ﬁxed period, even if other interest rates decrease.

• If you want to repay the loan early, there could be an early repayment charge.

Tracker mor tgage

With a tracker mortgage, the interest rate charged by a lender is linked to a rate such as the Bank of England base rate. This means your payments may go up or down.

Advantages:

• The rate you pay tracks an interest rate (for example, the Bank of England base rate). If the rate changes the tracker rate changes by the same amount.

Disadvantages:

• Some lenders impose a ‘collar ’ which means the interest rate won’t fall below a certain level, even if the rate it’s tracking continues to reduce

• Your monthly payments can go up or down which can make budgeting diﬃcult.

• If you want to repay the loan early, there could be an early repayment charge

An oﬀset mortgage is generally linked to a main current account and/or savings account which are all held with the same lender. Each month, the amount you owe is reduced by the amount in these accounts before working out the interest due on the loan. This means as your current account and saving balances go up, you pay less mortgage interest. As they go down, you pay more. Linked accounts used to reduce mortgage interest payments do not attract interest.

Advantages:

• Mortgage payments can be reduced as savings increase, or you may be able to continue paying a higher level and pay your mortgage oﬀ early.

• You usually pay tax on your savings. However, if your savings are automatically used to oﬀset your mortgage, you won’t pay income tax on these savings –this is particularly beneﬁcial for higher rate taxpayers.

Disadvantages:

• All accounts have to be with one lender/bank.

• If you want to repay the loan early, there could be an early repayment charge

Capped rate or capped and collared rate

With this type of mortgage, the interest rate is linked to a lender ’s SVR but with a guarantee that it won’t go above a set level (called a ‘cap’) or below a certain level (called a ‘collar ’) for a set period of time It’s possible to have a capped rate without a collar

Advantages:

• You know the maximum and minimum you’ll pay for a set period of time making budgeting easier

• These products are useful if you want the security of knowing your payments can’t rise above the set level (the cap), but could still beneﬁt if rates fall during the set period.

Disadvantages:

• Even if other rates fall, your interest rate for the set period will not go below the level of the ‘collar ’ .

• If you want to repay the loan early, there could be an early repayment charge.

R a t e Years

– Va r iable rate

– Capped rate

– Col la red rate

Common features of a mor tgage and facts when buying a home.

We’ve listed a nd prov ided a brief ex pla nat ion of some terminolog y you’re likely to come across when buy ing a home. The follow ing ex pla nat ions a re purely prov ided a s a g uide. Your adv iser w ill be able to explain individual mortgage features in more deta il a nd help you ﬁnd t he rig ht mor tgage.

Arrears and repossession

If at a ny t ime you’re unable to meet your mor tgage payments, you should spea k to your mor t ga ge lender st ra ig ht away. Repos se s sing a proper t y is genera l ly a la st re sor t – your lender w il l t r y to reach a n a r ra ngement w it h you to help you to keep your home. If your lender sel ls your proper t y a f ter repos se s sing it, a nd t here’s a ny money owed fol low ing t he sa le, you’l l be re sponsible for it plus a ny sel ling fee s.

Annual percentage rate of charge (APRC)

A s wel l a s tel ling you t he intere st rate on your mor t ga ge, lender s must a lso ca lcu late t he A PRC . Th is is t he tot a l cost of t he loa n, includ ing intere st a nd fee s show n a s a percentage rate. The APRC is intended to help you compa re d iﬀerent t y pe s of mor t ga ge s f rom d iﬀerent lender s. W hen ca lcu lat ing t he APRC, lenders assume you’ll pay the mortgage for t he f u l l ter m. G enera l ly, t he lower t he APRC, the better the deal but this is assuming you st ay on t he sa me mor t ga ge produc t t h roug hout t he ter m of your mor t ga ge.

Cashback

Wit h a ca shback mor t ga ge, your lender pays you a lump sum when you complete your mor t ga ge. T he ca shback ca n be a ﬁ xed a mount or ca n be worked out a s a percent a ge of your mor t ga ge. If you move to a not her lender in t he ea rly yea r s of t he mor t ga ge, it ’s ver y li kely you’l l have to repay some or a l l of t he ca shback received.

Credit scoring

W hen you apply for a mor tgage (or a ny sor t of cred it) t he lender w il l usua l ly ‘cred it score’ your application This helps t he lender decide whet her to accept your applicat ion, t he a mount of money t hey ’re prepa red to lend to you a nd what rate of intere st you’l l pay.

Cred it scor ing work s by awa rd ing point s ba sed on your circum st a nce s. Each lender has t heir own scoring system. You’ll genera lly score more point s if you’ve been in your job longer, own your own home a nd have pa id a ll of your loa ns on t ime in t he pa st. Hav ing a good credit histor y will improve your cha nces of get t ing a good mor t ga ge rate. You ca n get your ind iv idua l cred it repor t by reg ister ing w it h eit her:

E x per ia n at ww w.exper ia n.co.u k or Equifa x at ww w.equifa x .co.u k

Early repayment charge

Th is is a cha rge you may have to pay if you wa nt to pay oﬀ your mor tgage before t he end of a set per iod

Energy Per formance Cer tiﬁcates

Energ y Per for ma nce Cer t ificate s (EPCs) a re required by law for a l l home s boug ht, sold or rented They give information on how to ma ke the proper ty more energ y efficient and reduce ca rbon d iox ide em is sions. T hey ’re prov ided by accredited domestic energ y assessors, a nd t hey ca r r y out t he a s se s sment a nd produce t he cer t ificate.

EPCs cont a in:

• In for mat ion on your home’s energ y use a nd ca rbon d iox ide em is sions.

• A recom mendat ion repor t w it h sug ge st ions to reduce energ y use a nd ca rbon d iox ide em is sions

EPCs ca r r y rat ing s t hat compa re t he cur rent energ y eﬃciency and carbon dioxide emissions w it h what t he proper t y cou ld potent ia l ly ach ieve if energ y sav ing mea sure s were put in place.

EPCs a re va lid for ten yea r s.

Free legals

Some lender s oﬀer a r ra ngement s t hat include t he cost of complet ing t he lega l work involved in a r ra ng ing a mor t ga ge a nd buy ing a home. T he se a r ra ngement s va r y but cou ld reduce t he a mount you’l l pay at t he out set.

Government backed initiatives

T here a re a number of gover n ment backed in it iat ive s wh ich have been created to encoura ge a nd a s sist ind iv idua l proper t y ow ner sh ip. Your adv iser w il l be able to prov ide you w it h t he most up -to - date information on speciﬁc schemes which may be applicable for your per sona l sit uat ion.

Higher lending charge

L ender s somet ime s cha rge a fee if your mor t ga ge is a h ig h percent a ge of t he proper t y ’s va lue. T hey use t h is fee to buy insura nce in ca se t hey repos ses s your proper t y a nd sel l it for le s s t ha n t he a mount out st a nd ing on t he mor t ga ge. You’l l st il l be re sponsible for a ny money owed a f ter t he sa le of your proper t y.

Negative equity

If t he va lue of your proper t y fa lls below t he a mount you owe on your mor t ga ge t h is is ca l led ‘negat ive equit y ’ . If t h is happens, a nd you need to sel l your proper t y, you’l l st il l be re sponsible for repay ing t he f u l l a mount of t he mor t ga ge.

Overpayments

Some lender s w il l a l low you to ma ke over pay ment s on your mor t ga ge. Th is is genera l ly re st r ic ted to 10% of t he out st a nd ing ba la nce each yea r. L ender r u le s a nd re st r ic t ions may d iﬀer, so spea k to your adv iser before you decide to ma ke a ny over pay ment s.

Por tability

Some lender s let you move your mor t ga ge to a new proper t y when you move house.

Underpayments and payment holidays

Some mor t ga ge s a l low you to reduce t he a mount you pay each mont h, or to stop ma k ing mont h ly pay ment s, if you’ve previously overpaid. Lenders only normally a l low you to ma ke under pay ment s or t a ke pay ment holidays for a lim ited t ime. Th is ca n be usef u l if your income fa l ls or stops for a shor t per iod. In bot h ca se s, you’l l be pay ing le s s t ha n t he nor ma l mont h ly pay ment so t he a mount of your mor t ga ge w il l increa se.

Tax and wills

In some circum st a nce s you may need to t h in k about t he t a x implicat ions of buy ing your proper t y Your adv iser ca n’t g ive you a ny adv ice about t he t a x implicat ions of buy ing proper t y. If you a re at a l l unsure about t h is, you shou ld get adv ice f rom a t a x specia list. W hen you buy a proper t y, we st rong ly recom mend t hat you ensure your w il l is up -to - date. Th is mea ns t hat your a s set s, includ ing your proper t y, a re g iven out in line w it h your w ishe s.

Valuations and sur veys

T here a re t h ree t y pe s of va luat ions a nd sur veys – Va luat ion repor t s, Homebuyer ’s repor t s a nd Bui ld ing sur veys.

• Ba sic va luat ion repor t – Th is is a ba sic repor t pa id for by you, but completed by t he va luer for your lender. Your lender w il l use t h is repor t to help t hem decide whet her t hey ’l l lend you t he a mount of money you need to buy your proper t y

• Homebuyer ’s repor t – Th is is a more det a i led repor t t hat a sur veyor complete s for you T here’s a n impor t a nt d iﬀerence bet ween a ba sic va luat ion repor t a nd a Homebuyer ’s repor t. T he va luat ion repor t belong s to t he lender a nd t he va luer complete s t he repor t for t hem Wit h a Homebuyer ’s repor t, t he sur veyor work s for you a nd t hey ’re re sponsible to you if t hey fa i l to spot t h ing s. W h i lst t h is cost s more t ha n a ba sic va luat ion, you shou ld consider a sk ing for a Homebuyer ’s repor t a s it w il l g ive you more in for mat ion about your proper t y. It ’s pa r t icu la rly usef u l if you’re buy ing a n older proper t y

• Building sur vey (prev iously k now n a s a f u l l st r uc t ura l sur vey) – Th is is t he most det a i led t y pe of sur vey t hat ’s completed by a sur veyor working for you The sur veyor is re sponsible to you if t hey fa i l to spot somet h ing. Bui ld ing sur veys a re recom mended if you’re buy ing a n older proper t y, a proper t y t hat needs substa ntia l ref urbishment, or t here has been str uctura l problem s in t he pa st.

Additiona l sur veys or repor ts may be needed by your lender before t hey ’l l ma ke you a mor t ga ge oﬀer.

A sense of community: our social conscience

It mig ht not be t he ﬁrst t hing t hat springs to mind when you t hin k about proper t y compa nies. But a big pa r t of our philosophy involves phila nt hropy. Socia l ventures play a big part in what we’re all about.

We’re owned by a charitable trust and a large slice of our proﬁts goes to causes that tackle big issues like housing related poverty. It’s not just the money that we provide – we make plans, take action, we put ourselves out there.

The methods vary. It could be valuable support and places to live for young people who have been under the threat of homelessness or funding trailblazing projects that do things a bit diﬀerently. Whatever works, whatever is needed!

We've been responsible for some amazing initiatives, developed some incredible charities. And we're not just in it for the short term, but for as long as we're around It's fundamental So, when you choose us, you're becoming a part of something far, far bigger.

Who'd have thought it?

Head to Andrewscharitabletrust.org.uk

We think you'll like what you 'll see.

Over £10million contributed to over 180 good causes, funding social enterprises and innovative innovative charitable enterprises

Andrews Proper ty Group

Andrews Mortgage Services is a trading name of Andrews & Partners Limited which is an appointed representative of The Openwork Partnership, a trading style of Openwork Limited which is authorised and regulated by the Financial Conduct Authority.

Andrews Estate Agents Ltd (Reg No. 700540)

Andrews Letting and Management Ltd (Reg No. 1538384). Registered oﬃce: 42B High Street, Keynsham, Bristol BS31 1DX.

VAT Registration Number 354375543. Registered in England.

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. MOST BUY TO LET MORTGAGES ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.

Approved by The Openwork Partnership on 17/07/2025