A wider view
A bank can only offer its own products. An adviser can compare options from the range of lenders they work with, including some products only available through intermediaries.
Mortgage & protection advice · Coventry & across the UK
Buying your first home, moving, remortgaging or growing a rental portfolio: we explain your options clearly, compare mortgages on your behalf and stay with you from the first conversation to the day you get the keys.
Who we are
Merit Mortgages & Financial Advisers is a mortgage and protection advice firm based in Coventry, helping clients across the UK. We are an appointed representative of the Dragon Network. We help people find and arrange mortgages, and the insurance that protects them.
A mortgage is likely to be one of the largest financial commitments you ever make. We think you deserve to understand it fully: what you are signing up to, why one option may suit you better than another, and what could change in the future.
Research mortgages across the lenders available to us, recommend options that suit your circumstances, and manage the application through to completion.
First-time buyers, home movers, homeowners whose deal is ending, landlords, self-employed people and anyone who wants a second pair of eyes.
Why use an adviser?
You can go directly to a lender. Many people do. Here is what professional advice can add.
A bank can only offer its own products. An adviser can compare options from the range of lenders they work with, including some products only available through intermediaries.
Lenders treat things like self-employed income, bonuses, credit history and property types differently. Knowing which lenders may suit your situation can save time and wasted applications.
We help gather your documents, submit the application and chase progress with the lender, solicitor and estate agent where needed.
We look beyond the rate: fees, flexibility, early repayment charges and whether your home and family are protected if something unexpected happens.
How can we help?
Deposits, schemes, affordability and every step to getting your first set of keys.
Explore →Your deal is ending, or you'd like to borrow more. Let's look at what's available.
Explore →Mortgages for landlords, from a first rental to a limited company portfolio.
Explore →Porting, borrowing more and lining up your mortgage with your moving date.
Explore →Life, critical illness and income protection, explained without the jargon.
Explore →Introductions to legal professionals who keep your purchase moving.
Explore →How it works
Scroll through the journey. As each stage completes, your home takes shape.
Step one
A relaxed first conversation, by phone, video or in person. We'll ask about your goals, income, outgoings, deposit or equity, and timescales. No jargon and no pressure.
Step two
We explain what's realistically available to you: how much lenders may consider lending, the types of mortgage that could suit you and the costs involved.
Step three
We research the lenders and products available to us and recommend an option in writing, explaining why it suits you, including fees, early repayment charges and the total cost.
Step four
Once you're happy, we prepare and submit your application, helping you gather payslips, bank statements, ID and anything else the lender needs.
Step five
The lender values the property and underwriters review your case. We handle their questions and keep you, your solicitor and your estate agent updated.
Step six
Your mortgage offer is issued, your solicitor finalises the legal work and the lender releases the funds on completion day. Time to collect the keys.
Step seven
We'll be in touch before your deal ends to review your options, and we're here when life changes: a new baby, a pay rise, an extension or your next move.
Mortgage repayment calculator
Move the sliders to illustrate how price, deposit, rate and term change your monthly repayment.
How much could I borrow?
Lenders look at what you earn, what you already owe and what it costs you to live, then test whether you could still afford repayments if interest rates rose.
Many lenders use income multiples of roughly 4 to 4.5 times household income as a starting point. Some may go higher for certain incomes, professions or deposit sizes, and some may offer less. Your credit history, regular commitments, dependants and the length of the mortgage all play a part.
It's a quick way of describing borrowing compared with income. If a household earns £50,000 a year, 4.5 times income is £225,000. It's only a rough guide: lenders make the final decision using their own affordability calculations.
Lenders check whether you could still afford your repayments if interest rates were higher than your starting rate. Each lender sets its own approach, which is one reason two lenders may offer different amounts.
Client stories
Questions
Can't see your question? We're happy to talk it through, with no obligation.
Ask an adviserNo, you can apply directly to a bank or building society. An adviser can compare products across the lenders they work with, explain lender criteria, and handle the application for you. Some people find this particularly useful if their circumstances are less straightforward, such as being self-employed or having a complex income.
An initial conversation doesn't involve a credit check. When we request an agreement in principle, some lenders use a "soft" search that isn't visible to other lenders, while others use a "hard" search that is. We'll tell you which applies before we proceed.
It varies. A mortgage offer can sometimes be issued within a few weeks of a full application, but it depends on the lender, the valuation and how quickly documents are provided. A whole house purchase, including the legal work, often takes several months.
Often, yes. Lenders have very different criteria, and part of our job is knowing which may consider your circumstances. We can't promise approval, but we'll be honest about your options, including if waiting a little while could improve them.
We'll contact you ahead of your deal ending to review your options, and we're available whenever your circumstances change. We'll also suggest reviewing your protection cover from time to time.
Request an appointment
Choose a time that suits you. Your first conversation is about understanding your plans. There's no obligation to go any further.
Prefer the full enquiry? Start your mortgage journey, which takes about 3 minutes.
What should I do next?
Tell us a little about your plans and an adviser will be in touch to talk through your options, within one working day. Evening appointments are available.
First-time buyer mortgages
Nobody is born knowing what a decision in principle is, or why the valuation isn't a survey. We'll explain the whole journey clearly, help you work out a realistic budget, and guide you from your first question to the day you get the keys.
1 · Step-by-step guidance
Every purchase is different, but most follow a similar path. Here's what happens, in order, and what it means for you.
Start by looking at what comes in, what goes out and what you've saved. Lenders will look at your regular spending, so knowing your numbers early helps you set a comfortable budget, not just the maximum you could borrow.
Your deposit is the part of the price you pay yourself. Some lenders accept 5%, but a larger deposit usually gives you access to a wider choice of mortgages and potentially lower interest rates. Lenders will want to know where it came from, such as savings, a Lifetime ISA or a gift from family.
LTV is the mortgage as a percentage of the property's value. Buy a £250,000 home with a £25,000 deposit and your mortgage is £225,000, which is a 90% LTV. Mortgage pricing is often banded by LTV (for example 60%, 75%, 85%, 90%, 95%), so moving into a lower band can make a difference.
Often, yes. Lenders usually ask for a signed "gifted deposit letter" confirming it's a gift, not a loan, and that the giver won't have a share in the property. They'll also check where the money came from. Larger gifts may have inheritance tax implications for the giver, so they may want to take separate advice.
Lenders work out how much they're willing to lend using your income, regular commitments and household spending, and test whether you could still pay if interest rates rose. Read the below.
Your credit file shows how you've managed credit in the past. You can check it free with the main credit reference agencies. Make sure you're on the electoral roll at your current address, look for mistakes, and avoid applying for new credit shortly before a mortgage application where possible.
Not necessarily. Lenders take different views depending on what happened, how long ago and whether it's been resolved. Some specialise in less-than-perfect credit, although rates may be higher.
An agreement in principle (AIP), also called a decision in principle (DIP) or mortgage in principle, is a lender's initial indication of how much it might lend, based on basic information and usually a credit check. Many estate agents ask for one before accepting an offer.
No. It's an indication only. The lender will still carry out full checks, including verifying your income and valuing the property, before making a formal mortgage offer.
With a realistic budget in mind, you can start viewing with confidence. Think about the type of property too: some lenders are cautious about certain flats, non-standard construction or short leases, so it's worth asking us before you fall in love with somewhere.
Offers are usually made through the estate agent. In England, Wales and Northern Ireland an accepted offer isn't legally binding until contracts are exchanged. In Scotland the process is different and offers can become binding earlier, so it's important to have your finances ready before you offer there.
Once your offer is accepted, we submit your full application with your documents. The lender verifies your income, identity and deposit, and runs a full credit check.
The lender arranges a valuation to confirm the property is suitable security for the loan. This is for the lender's benefit and isn't a detailed inspection of the property's condition.
A valuation tells the lender what the property is worth to them. A survey, which you arrange separately (for example a RICS Level 2 or Level 3 survey), looks at the property's condition and can highlight problems such as damp, subsidence or roof issues before you commit.
Your conveyancer (a solicitor or licensed conveyancer) handles the legal side: checking the title, carrying out searches, raising enquiries with the seller's solicitor and reviewing the contract. More about conveyancing.
Once the lender is satisfied, it issues a formal mortgage offer, which is also sent to your conveyancer. Offers usually have an expiry date, often around six months, so timing matters.
You and the seller sign and exchange contracts and you usually pay your deposit. From this point the purchase is legally binding and a completion date is fixed. Many lenders require buildings insurance to be in place from exchange.
On completion day the lender releases the mortgage funds to your conveyancer, who pays the seller. Your conveyancer then pays any Stamp Duty due and registers you as the owner with HM Land Registry.
Once the money has transferred, the estate agent releases your keys. Welcome home. We'll stay in touch and contact you before your initial deal ends.
2 · Access to mortgage deals
Advisers can access many lenders, and some products are only available through intermediaries. Whether any particular deal is available to you depends on your circumstances and the lender's criteria.
Mortgages offered by lenders both directly to the public and through advisers. Many first-time buyers end up with one of these, and they can be very competitive.
Some lenders offer products only through mortgage intermediaries, and occasionally a product is exclusive to a particular firm or network. These aren't automatically better, and not every client will be eligible. We'll show you how they compare with what's available elsewhere.
| Mortgage type | How it works | May suit people who… | Things to consider |
|---|---|---|---|
| Fixed rate | Your interest rate stays the same for a set period, commonly 2, 3, 5 or 10 years. | Want certainty over monthly payments. | You won't benefit if rates fall. Early repayment charges usually apply if you leave during the fixed period. |
| Tracker | Your rate follows a reference rate, usually the Bank of England base rate, plus a set margin. | Are comfortable with payments rising or falling. | Payments can increase. Some trackers have a "collar" (minimum rate). |
| Discount variable | A discount off the lender's standard variable rate for a set period. | Want a lower initial rate and can handle changes. | The lender can change its variable rate at any time, so payments can go up even if the base rate doesn't. |
| Standard variable rate (SVR) | The lender's default rate, which you usually move to when an initial deal ends. | Rarely chosen. Most people switch before reaching it. | Often higher than introductory deals, though usually without early repayment charges. |
| Offset | Your savings are linked to your mortgage and reduce the balance you pay interest on. | Have significant savings they want to keep accessible. | Rates can be slightly higher. Savings in the offset account earn no interest. |
| Joint borrower, sole proprietor | A family member's income helps you borrow, but they aren't on the property's title. | Need help with affordability from family. | The family member is jointly liable for the debt. Independent legal advice is usually required. |
| Longer-term mortgages | Terms of 35 to 40 years are available from some lenders. | Want lower monthly payments. | You'll usually pay considerably more interest overall. Lenders check the term against your age and retirement plans. |
With a repayment mortgage, each monthly payment covers interest and part of the loan, so you owe nothing at the end of the term if you keep up payments. With interest-only, you only pay the interest and still owe the full loan at the end, so you need a credible plan to repay it. Most first-time buyers take a repayment mortgage, and lenders are strict about interest-only lending.
3 · Government schemes
Last reviewed: October 2026. Schemes change, open and close. Always check the official scheme website for the latest rules, and ask us how a scheme could work with your mortgage.
A permanent government guarantee (since July 2025) that encourages lenders to offer 91–95% mortgages, so you may be able to buy with a 5% deposit. You don't apply to the scheme; you apply for a participating lender's mortgage.
Save up to £4,000 a year and the government adds a 25% bonus (up to £1,000 a year). You must open one aged 18 to 39, and can use it towards a first home costing £450,000 or less once the account has been open 12 months.
Announced by the government in September 2026: a proposed scheme for first-time buyers of new-build homes, with a 2.5% deposit and a 20% government equity loan with an initial interest-free period.
Buy a share of a home (usually between 10% and 75% on newer homes) with a mortgage, and pay rent on the rest to a housing provider. You can usually buy more shares later ("staircasing").
New homes sold to eligible local first-time buyers at a discount of at least 30% against market value, with the discount passed on when you sell.
Eligible council tenants can buy their home at a discount. Maximum discounts were significantly reduced in November 2024 (to between £16,000 and £38,000 depending on area) and further reforms to eligibility are being introduced.
If you see these advertised as available, that information is out of date.
4 · Mortgage repayment calculator
Try different deposits and rates to see how each one affects your budget.
5 · How much can I borrow?
Lenders must check that a mortgage is affordable for you, now and if rates rise. Income is the starting point, but it's only one part of the picture.
Many lenders start with income multiples around 4 to 4.5 times income, then adjust using a detailed affordability model. Bank of England rules also limit how much of a lender's new lending can be above 4.5 times income, which is one reason higher multiples are offered more selectively.
Basic salary is usually counted in full. Bonuses, overtime and commission may be counted partly or not at all, depending on the lender and how regular they are.
Permanent, contract, self-employed and limited company directors are all assessed differently. Self-employed applicants often need two or more years of accounts or tax calculations.
Car finance, loans, credit card balances, student loan repayments and childcare costs reduce what's left over each month for a mortgage.
A clean record can open up more lenders and products. Missed payments, defaults or CCJs may limit options or affect pricing.
A bigger deposit lowers your loan-to-value. Some lenders allow higher income multiples at lower LTVs.
Lenders factor in the cost of supporting children or other dependants, so the same income can support a different loan for different households.
A longer term lowers monthly payments and may improve affordability, but increases total interest. Lenders consider your age at the end of the term.
Each lender has its own affordability model and stress rate. That's why results can differ noticeably from one lender to the next.
Alex and Sam both earn £45,000. Alex has no loans and no children. Sam has a £320-a-month car finance agreement and a young child in nursery. A lender's affordability model treats them differently, so Alex may be offered noticeably more, even with an identical salary and deposit.
Lenders also differ from one another. The same applicant could receive different maximum loan amounts from two lenders, simply because their models and stress rates are different.
Alex
£45,000 · no commitments · no dependants
Broader range of lenders likely, nearer the upper end of typical multiples
Sam
£45,000 · £320/m car finance · 1 child
Commitments and childcare reduce the amount a lender may offer
Illustrative comparison only, not based on any particular lender's calculation.
6 · Arranging viewings
Knowing what you can realistically borrow before you start viewing saves time and disappointment, and makes you a stronger buyer.
7 · Applying for your first mortgage
Having these ready can help your application move faster. Tick them off as you go. Your progress is saved in this browser only.
8 · Did you know?
Tap or press a card to turn it over. Figures correct as of October 2026 and can change.
What should I do next?
Let's talk about your budget, your deposit and the schemes that could help. It's a relaxed conversation with no obligation.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Remortgage advice
Remortgaging means moving your mortgage to a new deal, either with a new lender or by switching products with your current one. Done at the right time, it can help you avoid a higher variable rate, borrow for something important or simply get more certainty.
1 · Finding a better mortgage deal
The headline rate is only part of the story. We look at the total cost over the deal period, including arrangement fees, valuation and legal costs, any cashback, and how flexible the product is if your plans change. Sometimes staying with your current lender is the most suitable choice, and we'll tell you if so.
2 · Release equity from your home
Equity is the difference between what your home is worth and what you still owe on it.
You build equity in two ways: by paying down your mortgage each month, and through any rise in your property's value. Equity can fall too, if prices drop.
"Releasing equity" usually means borrowing more against your home, either by remortgaging to a larger loan or taking a further advance from your current lender.
Home improvements or extensions, helping a family member with a deposit, buying out a former partner, or buying another property. Lenders will ask what the money is for, and some uses are not accepted.
3 · Remortgage before your deal ends
Many lenders let you secure a new rate several months before your current deal ends, often up to six months ahead, with the new deal starting when the old one finishes.
Unless you arrange something new, most lenders move you to their standard variable rate (SVR). This is usually higher than introductory deals, so payments can rise noticeably.
If you leave a deal early, you may pay an early repayment charge (ERC), often a percentage of the balance that reduces each year. Your mortgage documents or annual statement will show it.
A remortgage to a new lender involves an application, valuation and legal work, which can take several weeks. Starting early helps you avoid a gap on the SVR.
| Product transfer (same lender) | Remortgage (new lender) | |
|---|---|---|
| What it is | Switching to a new deal with your existing lender | Moving your mortgage to a different lender |
| Affordability checks | Often limited if you're not borrowing more | Full affordability and credit checks |
| Valuation & legal work | Usually not required | Required, though some deals include free valuation or legal work |
| Speed | Often quicker and simpler | Usually takes longer |
| Choice | Limited to your lender's range | Access to products across lenders |
We can advise on both, so you can see whether staying or moving looks more suitable.
4 · Switch to a fixed rate
With a fixed rate, your interest rate and monthly payment stay the same for the fixed period, whatever happens to interest rates.
That can make budgeting easier. The trade-off: if rates fall, your payment won't, and leaving early usually means an early repayment charge. When the fixed period ends, you'll typically move to the lender's SVR unless you arrange a new deal, which is when we'll be in touch.
Neither is better in general. It depends on how long you want certainty, whether you might move or repay early, and how the rates compare. We'll talk through your plans before recommending anything.
Conceptual illustration, not a forecast of interest rates.
5 · Consolidate your debts
Debt consolidation means borrowing more on your mortgage to repay other debts, such as credit cards, loans or car finance, leaving you with one monthly payment.
6 · Tailored advice you can trust
Rate, balance, remaining term, when your deal ends and any early repayment charges.
Whether your income has changed and how lenders would assess it today.
An estimate of today's value, which affects your loan-to-value and available rates.
How much you own outright and whether borrowing more is realistic or sensible.
Any changes since you last applied that might affect which lenders are suitable.
Moving, retiring, family changes or overpaying, so your deal fits the next few years.
Other debts and regular outgoings that affect affordability.
Set out in writing, explaining why it suits you, its costs and its risks.
7 · Did you know?
Tap a card to turn it over.
What should I do next?
Send us a few details and we'll review your options, including whether staying with your current lender looks more suitable.
Your home may be repossessed if you do not keep up repayments on your mortgage. You may have to pay an early repayment charge to your existing lender if you remortgage.
Buy-to-let mortgages
Whether you're buying your first rental, remortgaging a portfolio or considering a limited company, we'll help you understand how lenders assess buy-to-let lending and which options may fit your plans.
1 · Expert buy-to-let advice
| Residential mortgage | Buy-to-let mortgage | |
|---|---|---|
| Main affordability test | Your personal income and outgoings | Mainly the expected rent, tested against the mortgage interest at a "stress" rate. Many lenders also want a minimum personal income |
| Typical deposit | From 5% | Often 25%, sometimes 20% or less with some lenders, at higher rates |
| Repayment type | Usually capital repayment | Interest-only is common, with the loan repaid when the property is sold or refinanced |
| Regulation | Regulated by the FCA | Most buy-to-let mortgages are not regulated by the FCA (consumer buy-to-let, such as an inherited home, is treated differently) |
| Stamp Duty | Standard or first-time buyer rates | Usually a 5% surcharge on top in England & NI if you'll own more than one property. Scotland and Wales apply their own higher rates |
| Tax on income | N/A | Rental profit is taxable. Mortgage interest relief for individual landlords is restricted to a basic-rate tax credit |
2 · Tailored support
A first-time landlord and a portfolio investor face very different lending criteria.
Some lenders require you to own your own home or have a minimum income. Others are more flexible.
With four or more mortgaged rental properties, lenders usually review your whole portfolio, including cash flow and business plans.
Letting your current home and buying a new one involves two mortgage applications running together.
HMOs, multi-unit blocks and holiday lets each have specific lender criteria and licensing requirements.
Letting a home you live in usually needs your lender's "consent to let" or a switch to a buy-to-let mortgage.
Income now, growth later, or a mix? Your goals affect structure, term and repayment method.
3 · Access to competitive deals
Buy-to-let pricing varies widely. A lower rate with a large percentage fee can suit a big loan but not a small one. We compare products from the lenders available to us on rate, fees, rental calculations, early repayment charges and portability, and explain the trade-offs. We can't promise the lowest rate on the market, but we'll show you clearly why we recommend a product.
4 · Rental yield & affordability
Adjust the example to see how rent, rates and your tax position change what a lender may lend.
Annual rent divided by property value. £1,100 a month on a £220,000 home is £13,200 a year, a 6% gross yield. Net yield deducts costs like letting fees, maintenance, insurance and voids.
The interest cover ratio is how much the rent must exceed the mortgage interest. Lenders often use 125% for limited companies and basic-rate taxpayers, and 145% for higher-rate taxpayers, but this varies.
Lenders calculate interest at a notional rate, which may be higher than your actual rate (5-year fixes are sometimes assessed closer to the actual rate). This builds in a buffer if rates rise.
The maximum loan is the lower of the LTV limit (e.g. 75% of value) and the amount the rent supports.
Lenders use the valuer's opinion of market rent, which may differ from the rent you expect to charge.
Some lenders let you use personal income to support a shortfall in rental coverage, subject to their criteria.
5 · Limited company buy-to-lets
Some landlords buy through a limited company, often a "special purpose vehicle" (SPV) set up solely to hold property, rather than in their own names.
Interest in buying this way grew after tax changes restricted mortgage interest relief for individual landlords. A company pays corporation tax on its profits and can usually deduct mortgage interest as a business cost. But that doesn't make it right for everyone.
6 · Ongoing support beyond your mortgage offer
Completion is the beginning. We'll help you review deals before they end, plan refinancing for your next purchase, and look at landlord protection where it's relevant.
Talk to us about your portfolioMortgage arranged, solicitor introduced, completion coordinated.
Rents, values and your plans reviewed against your mortgage.
Product transfer or remortgage compared, ideally months ahead.
Raising funds for your next purchase, or reviewing your structure with your accountant.
7 · Did you know?
Tap a card to turn it over. Rules shown are for England unless stated, as at October 2026.
What should I do next?
Tell us about the property, the expected rent and your goals. We'll explain how lenders are likely to view it.
Most buy-to-let mortgages are not regulated by the Financial Conduct Authority. Your property may be repossessed if you do not keep up repayments on your mortgage.
Moving home mortgages
Selling one home and buying another means two sets of costs, two legal processes and a mortgage that needs to fit your new plans. We'll help you understand your options, including whether you can take your current deal with you.
1 · Finding the right mortgage
Moving often means borrowing a different amount, at a different loan-to-value, on a different income from when you first bought.
2 · Understanding the cost of moving
Example figures are illustrative. Edit any amount to match your own quotes. Stamp Duty is calculated for England & Northern Ireland.
3 · A seamless process, start to finish
Select a stage to see what's happening and who's involved.
4 · Porting your existing mortgage
Many mortgages are "portable": you can transfer your current rate and terms to a new property, which can help you avoid early repayment charges.
Porting isn't automatic. You're effectively applying again: the lender reassesses your affordability and credit, and values the new property. If you need to borrow more, the extra amount is usually on a separate product at current rates, possibly with a different end date. If you're moving somewhere cheaper, you may pay an ERC on the part you repay.
Many lenders require the sale and purchase to complete on the same day to port. Some allow a short gap, and may refund the ERC if you port within a set time. Policies vary, so check before you sell.
5 · Get help securing a new deal
We'll work out what porting would cost, including any blended rate, and compare it with new mortgages across the lenders available to us, factoring in ERCs, fees and how long each deal lasts. You'll get a clear recommendation in writing, and we'll arrange an agreement in principle so you're ready to make an offer.
Speak to an Adviser6 · Timing your move with your mortgage
If your fix ends close to your planned move, you may be able to avoid ERCs altogether, or secure a new rate up to around six months in advance.
Check how much your ERC is and when it reduces. Sometimes waiting a few weeks can save a significant sum.
Know your lender's porting rules before you accept an offer, especially if there may be a gap between sale and purchase.
An agreement in principle before viewing, then a full application once your offer is accepted. Mortgage offers often last around six months.
Sale and purchase usually complete on the same day. Your solicitor agrees the date with everyone in the chain at exchange.
We'll put your deal end date, ERC and target move dates on one simple timeline.
What should I do next?
Tell us about your current mortgage and your plans, and we'll show you whether porting or a new deal looks more suitable.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Life, critical illness & income protection
Your home, your income and the people who rely on you. Protection insurance can help your family keep their home and their plans on track if illness, injury or death changes everything. We'll help you understand what's worth considering, without the jargon.
1 · Life insurance
Life insurance pays out if you die during the policy term (and some policies also pay on diagnosis of a terminal illness).
It may be worth considering if someone depends on your income, if you have a joint mortgage, or if you'd like to leave money to cover debts or funeral costs.
Pays a fixed amount if you die within the term. Often used for family needs.
The payout reduces over time, roughly in line with a repayment mortgage. Usually cheaper.
Pays a regular monthly income for the rest of the term, rather than a lump sum.
Covers you for life rather than a set term, so premiums are usually higher.
Placing a life policy in trust lets the payout go to the people you choose, usually more quickly and potentially outside your estate for inheritance tax. Trusts have legal implications, so take advice on whether it's right for you.
2 · Critical illness cover
Critical illness cover pays a tax-free lump sum if you're diagnosed with one of the specified illnesses or conditions listed in your policy and meet its definition.
The money can be used however you need: reducing your mortgage, adapting your home, replacing lost income or paying for care.
A claim pays only if your condition meets the policy's exact definition, which often specifies severity. For example, some cancers or heart conditions may not qualify, or may only qualify for a smaller partial payment. Many policies also require you to survive a short period after diagnosis, often 10 to 14 days.
Most UK policies include these core conditions, subject to their definitions:
Many policies list dozens more conditions, but the number of conditions matters less than how they are defined. Pre-existing conditions may be excluded.
3 · Income protection
Income protection pays a regular monthly benefit if illness or injury stops you working, after a waiting period, until you return to work, the policy ends or the benefit period runs out.
How long you must be off work before payments start, commonly 4, 8, 13, 26 or 52 weeks. A longer period lowers premiums; match it to your sick pay and savings.
Insurers cap the monthly benefit, often around 50–70% of your gross income, so you have an incentive to return to work. Some policies pay for 1 or 2 years per claim; others until retirement.
"Own occupation" pays if you can't do your own job. Other definitions are stricter, such as being unable to do any suited job. The definition can make a big difference to whether a claim pays.
4 · Why does protection matter?
Statutory sick pay and state benefits may be much less than your usual income. Here's where the impact is felt.
Your lender still expects payments each month, whatever happens to your income.
Many employers' sick pay runs for a limited time, and after that, statutory pay is modest.
Childcare, care costs and a partner reducing their hours can all add pressure at once.
Savings, pensions and plans like university or retirement can be drawn down early.
5 · Which product is right for you?
Pick one or more concerns to see which types of cover are designed for them. This is a guide only. Suitability depends on your circumstances.
6 · Let's protect what matters most
We'll look at what you already have through work, what your family would need, and what you can comfortably afford. Then we'll recommend cover that fits, or tell you if you're already well covered.
7 · Did you know?
Tap a card to turn it over.
Conveyancing solicitors
Conveyancing is the legal work involved in buying, selling or remortgaging a property. A responsive conveyancer, working alongside your mortgage adviser, can make a real difference to how smoothly things go.
1 · Trusted recommendations
If you don't already have a conveyancer, we can introduce you to firms we've worked with. You're always free to choose your own.
We'll check that the firm is on your lender's panel, since lenders only accept conveyancers they've approved, and that they're regulated (for example by the Solicitors Regulation Authority or the Council for Licensed Conveyancers).
2 · Seamless communication
When everyone shares updates promptly, delays are spotted earlier. Here's who does what.
3 · Fixed fees & transparency
A conveyancing quote is usually made up of the legal fee, VAT and "disbursements": costs the firm pays to third parties on your behalf.
Ask for a written, itemised quote and check what could be added later. Law firms offering residential conveyancing in England and Wales must publish price information on their websites, which makes comparison easier.
| Item | What it is |
|---|---|
| Legal fee | The firm's charge for the work. Often fixed, sometimes based on property value. VAT is added. |
| Searches | Local authority, drainage and water, environmental and other searches relevant to the area. |
| Land Registry fee | The fee to register your ownership, based on the property price. |
| Stamp Duty | Collected and paid to HMRC on your behalf, if payable. |
| Other disbursements | ID checks, bank transfer fees, official copies of the title. |
| Possible extras | Leasehold, new-build, shared ownership, gifted deposits, Lifetime ISA, unregistered land or extra enquiries. |
4 · Why do solicitors matter?
Uncover planning issues, road schemes, flood risk, drainage and contamination that aren't visible at a viewing.
Review the draft contract and explain what you're agreeing to, including what's included in the sale.
Check the seller owns the property and can sell it, and flag rights of way, restrictions or covenants.
Raise questions with the seller's conveyancer about boundaries, works, disputes and leases.
Exchange contracts when everyone's ready, making the deal legally binding and fixing completion.
Receive the mortgage funds, pay the seller and confirm that keys can be released.
File your Stamp Duty return and register you as owner with HM Land Registry (England & Wales), with the lender's charge recorded.
The process differs: solicitors exchange "missives" and title is registered with Registers of Scotland.
5 · How we can help
We'll coordinate with your conveyancer, lender and estate agent so information flows quickly, and we'll keep you updated at every stage.
Legal advice about the property, the contract and your ownership always comes from your conveyancer. Merit Mortgages & Financial Advisers does not provide legal advice.
6 · Let's get things moving
Whether you need a mortgage, a conveyancer introduction or both, we'll help you take the first step.
About Merit
We don't simply find mortgages. We take the time to understand your circumstances, your goals and your plans for the years ahead, and only then recommend the route that fits.
Our approach
A mortgage sits inside a bigger life: your work, your family, where you see yourself in five years. Our advice starts there, with a conversation, not a product list.
We begin by understanding what you want to achieve and what matters most to you, before any numbers are discussed.
Income, plans, family, future moves. We consider how today's decision fits with the years ahead.
Rates, terms, fees and risks, set out clearly so you can make the decision with confidence.
Where circumstances are less straightforward, we look for a workable route rather than simply presenting products.
We keep in touch with lenders, solicitors and agents, and with you, until the process is complete.
Why clients choose us
You're trusting us with one of the most important financial decisions you'll make. We take that seriously. Our priority is simple: honest advice, clear communication and support you can depend on.
If waiting, staying with your current lender or borrowing less would serve you better, we'll say so.
You'll know what's happening, what comes next and what it costs, without having to chase.
The same team from first conversation to completion, and there when your circumstances change.
In our clients' words
“As a first-time buyer, I wasn’t sure where to start, but the whole process was made much easier to understand. Everything was explained clearly, my questions were answered, and I felt supported from the initial conversation through to securing my mortgage. It made what could have been a stressful experience feel far more manageable.”
“I wanted to review my mortgage options and make sure I understood what was available to me. The advice was clear, professional, and tailored to my circumstances, with each step explained along the way. Communication was excellent, and I really appreciated having someone guide me through the process without making things feel complicated.”
“Finding the right mortgage for a property investment felt daunting at first, but the process was handled in a clear and organised way. I was guided through the options available and kept informed throughout. The support gave me a better understanding of the mortgage process and helped me move forward with greater confidence.”
“Moving home comes with plenty to organise, so having clear mortgage guidance made a real difference. The options were explained in a straightforward way, communication was consistent, and I knew what to expect at each stage. The experience felt well managed and gave me one less thing to worry about during the move.”
Peace of mind
You don't have to navigate the mortgage process alone. We'll explain each step, tell you what we need and when, and deal with lenders and solicitors on your behalf, so you always know where you stand.
Your next step
An initial conversation is simply that: a chance to tell us about your plans and ask your questions. No pressure and no obligation.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Client reviews
What it's like to work with us, in our clients' own words.
Start with a conversation about your plans.
Contact us
Whatever stage you're at, even if you're just starting to think about it, we're happy to help. Send us a message and we'll reply within one working day.
Get directions in Google Maps (opens in a new tab)
Mortgage enquiry · about 3 minutes
A few simple questions so we can prepare for your first conversation. There's no credit check and no obligation.
Interactive mortgage calculator
Estimate your monthly repayment, total cost and loan-to-value. Adjust any figure and the results update instantly.
We use the standard repayment formula, assuming a constant interest rate for the full term and monthly payments. Real mortgages usually change rate after an initial deal, and fees aren't included.
Your mortgage as a percentage of the property's value. Lower LTVs often give access to lower rates.
You're borrowing the money for longer, so interest has more time to build up, even though each monthly payment is smaller.
Legal & regulatory
Merit Mortgages & Financial Advisers (FCA reference number 1058691) is an appointed representative of Dragon Brokers Ltd, trading as Dragon Network, which is authorised and regulated by the Financial Conduct Authority (FRN 599430). Company number 17224594. Office: 7 Jubilee Crescent, Coventry CV6 3EX. You can check our details on the FCA Register at register.fca.org.uk.
The Financial Conduct Authority does not regulate some forms of buy-to-let mortgages, tax advice, will writing or trusts.
Last updated: October 2026
This notice explains how Merit Mortgages & Financial Advisers (“Merit”, “we”, “us”) collects and uses your personal information when you visit this website, make an enquiry or become a client. We take your privacy seriously and only use your information in the ways described here.
Merit Mortgages & Financial Advisers, company number 17224594, 7 Jubilee Crescent, Coventry CV6 3EX, is the data controller for the personal information you give us. We are registered with the Information Commissioner's Office (ICO) under registration number ZC255069.
We are an appointed representative of Dragon Brokers Ltd, trading as Dragon Network (FRN 599430). As our principal firm, Dragon Network oversees our regulated advice and may access client records for compliance and quality-assurance purposes.
If you have any questions about this notice or your information, contact us by phone on +44 7464 444697, by email at merita@meritmortgagesfinancials.com, or by post at the address above.
When you contact us or use our enquiry forms, we collect the details you choose to give us. This can include your name, email address, phone number, preferred contact method and times, the type of help you need, and general information about your plans, such as your employment status, an income range, your deposit, the property price or when your current deal ends.
If you become a client, we'll need more detailed information to give you suitable advice and arrange your mortgage or protection. This can include proof of identity and address, details of your income, employment, outgoings, credit commitments, credit history, assets, family circumstances and the property you're buying or own.
For protection advice, such as life insurance, critical illness cover or income protection, we may need information about your health and lifestyle. This is special category data, and we only collect and share it with your explicit consent.
Calculators on this website work entirely in your browser. The figures you enter are not sent to us or stored by us.
We will only send you marketing messages if you have agreed to receive them, and every message will explain how to opt out.
We only share your information where it's needed to provide our service or where the law requires it. This may include:
We never sell your personal information.
Some of our service providers may store or process information outside the UK. Where that happens, we make sure appropriate safeguards are in place, as required by UK data protection law.
We keep enquiry details only for as long as needed to respond to you and follow up. Where we provide advice, regulatory rules require us to keep client records for a minimum period. We keep client records for as long as required by law, after which they are securely deleted.
Under UK data protection law, you have the right to:
To use any of these rights, contact us using the details above. We'll respond within one month.
If you're unhappy with how we've handled your information, please contact us first so we can try to put it right. You also have the right to complain to the Information Commissioner's Office at ico.org.uk.
We use appropriate technical and organisational measures to protect your information from loss, misuse and unauthorised access. Only people who need your information to help you can access it.
We may update this notice from time to time. The latest version will always be on this page, with the date it was last updated.
Last updated: October 2026
Cookies are small files that websites store on your device. This policy explains what this website stores and why.
Because we only use what's needed for the website to work, we don't ask you to accept cookies.
You can delete stored data or block cookies at any time through your browser settings. Clearing your browser data will reset the checklist. The rest of the website will work as normal.
If we add any new cookies, such as analytics, we'll update this policy and ask for your consent first where required.
Last updated: October 2026
These terms apply to your use of this website, which is operated by Merit Mortgages & Financial Advisers (company number 17224594), 7 Jubilee Crescent, Coventry CV6 3EX. By using this website, you agree to these terms. If you don't agree, please don't use the site.
We are not directly authorised by the Financial Conduct Authority. Merit Mortgages & Financial Advisers (FCA reference number 1058691) is an appointed representative of Dragon Brokers Ltd, trading as Dragon Network, which is authorised and regulated by the Financial Conduct Authority (FRN 599430). You can check this on the FCA Register.
We provide mortgage and protection advice. We are not a comparison website or an introducer.
The content on this website, including articles, guides, scheme information and calculators, is general information only. It does not take your personal circumstances into account and is not financial advice or a recommendation to take out any product.
We only give advice after we've spoken with you and assessed your circumstances. Before we do, we'll give you our Terms of Business, which explain our service, what we'll do for you and your responsibilities as a client.
Our calculators provide illustrations only, based on the figures you enter and the assumptions shown. They are not a mortgage offer, a quote or a guarantee that you'll be able to borrow. Lenders make their own decisions based on their criteria, affordability checks and credit checks.
We work hard to keep this website accurate and up to date. However, mortgage rates, lender criteria, government schemes and tax rules can change at short notice, and some information comes from third parties such as lenders and government sources. We can't guarantee that everything on the site is complete, accurate or current at the time you read it. We'll always confirm the latest position when we speak with you.
We aim to keep this website available, but we can't guarantee it will always be available or free from interruptions, errors or technical problems. We may change, suspend or withdraw any part of the site without notice.
To the extent permitted by UK law, we are not liable for any loss or damage arising from your use of, or reliance on, the information on this website, including changes to rates or products, inaccurate third-party information or the website being unavailable.
Nothing in these terms limits or excludes our liability where it would be unlawful to do so, including for death or personal injury caused by negligence, for fraud, or for any duty or liability we owe you under the FCA's rules. These terms do not affect the service we provide once you become a client, which is covered by our Terms of Business.
This website links to other websites, such as GOV.UK and the FCA Register, for your information. We're not responsible for their content or availability.
You must not:
All content on this website, including text, calculators, illustrations, graphics, our logo and name, branding and design, belongs to Merit Mortgages & Financial Advisers. You may view and print pages for your own personal use, but you must not copy, reproduce, adapt or reuse any part of this website for any other purpose without our written permission.
We handle any personal information you give us in line with our privacy notice.
We may update these terms from time to time. The latest version will always be on this page.
These terms are governed by the laws of England and Wales, and the courts of England and Wales have jurisdiction. If you live in Scotland or Northern Ireland, you can also bring proceedings in your local courts.