FAQs - Residential Mortgages
Am I able to make overpayments without incurring any fees?
The type of mortgage will determine whether fees apply to overpayments. Please refer to section [#] of your mortgage contract.
Can I change my mortgage repayment type?
Please contact us on [number] to discuss this further.
Can I change my regular payment date?
We do offer this service at OakNorth, please call our advisors on [number] to discuss this with one of our mortgage advisers.
Can I extend or reduce the term of my mortgage?
Please contact us on [number] to discuss this. Reducing the term will increase your monthly payments.
Can I make additional payments?
We do allow customers to make overpayments. Please note that you may be charged an Early Repayment Charge.
Do you lend to first time borrowers?
Yes we do. Given that as a first time buyer you are likely to be new to the whole process, we would suggest the first step is for you to contact one of our qualified Mortgage Advisers who will be able to answer any of your questions, review your own personal circumstances and recommend the most appropriate mortgage for you. Please call us on [number] or email [email address]. We allow first time buyers to borrow up to [max LTV]% of the purchase price of the property.
Do you lend to people who do not reside in the UK & do not have a UK tax status?
Yes, we do lend to people who do not reside in the UK. Please call us on [number] for further information.
Do you offer mortgages to the self-employed?
Yes, we base our decisions on sensible underwriting rules that takes into account individual circumstances, and applied by experienced people. We carefully consider all facts presented by an applicant, taking into account individual circumstances.
You will need to have been trading for at least 2 years and be able to provide all the relevant documentation (i.e. certified accounts.)
Do you offer payment holidays?
OakNorth does not currently offer payment holidays on mortgages. If you wish to find out more information on payment holidays, please click on the link below for an easy explanation.
How do I find out more about the type of mortgages you offer?
To view our latest rates for Residential mortgages, please visit our Residential mortgages pages, where you’ll also find our Tariff of Charges which details our fees. If you are interested in taking out a mortgage with us, please refer to our lending criteria page. For all other enquires, you can contact our qualified mortgage advisers by phone on 03303800194 or by email [email address].
How long does a mortgage application take?
The time is takes for a mortgage application differs based on individual circumstances. A typical mortgage application from the day we receive all the required paperwork, to providing you with a decision takes [#] days.
How long will this process take?
At OakNorth we aim to ensure all of our customers are able to move quickly once they have found their ideal home. The first step is to contact one of our Mortgage Advisers so that we can ascertain your current position and discuss with you how we can assist. A mortgage offer is usually made once you've had an offer accepted on a property However, you can find out if you can get a mortgage and how much you can borrow, prior to finding a property by approaching us for an 'agreement in principle' or a 'decision in principle'. The Decision or Agreement In Principle gives you confidence that provided you meet the citeria set out in there, we will able to provide a mortgage.
How many people can apply for a mortgage from OakNorth?
At OakNorth, there is a maximum 2 of people who can apply for a mortgage.
How old must I be to be eligible for a mortgage?
To be eligible for a mortgage with OakNorth, you must be betweeen 18 and 65 years old.
I have some further questions about OakNorth’s mortgages, who can I speak to?
Our qualified mortgage advisers, are available to take your queries. Either call us on [number] or email us on [email].
I want to sell one of the properties mortgaged with you? Can I do this?
We do allow customers to sell a property mortgaged with us. Please call us on [number] to discuss this with one of our mortgage advisers.
Is the amount I can borrow based on the value of the property I wish to buy? What percentage of the property's value will you lend against?
It is one of the factors we take into consideration. If you are interested in taking out a mortgage with us, please refer to our lending criteria page. For further information, call us on [number] to talk to one of our qualified Mortgage Advisers.
Is there a minimum loan value?
Yes, the minimum loan value is £500,000.
My circumstances have changed and I wish to add someone to my mortgage. How can I do this?
First step is for you and the person you wish to add to the mortgage to contact us to arrange to talk to one of our experienced Mortgage Advisers. They will be able to answer any of your questions and talk you through the process to be followed.
What are the charges associated with redeeming my mortgage account?
There may be Early Repayment Charges applicable to your mortgage. Please refer to you mortgage offer section [#] for more details.