It is important to organise your mortgage as soon as you think you have found a suitable property. The loan may take a few weeks to process, and the person you are buying from (and the estate agent) will want to know your mortgage lender is all set to go.

If you want to arrange mortgage finance before you've even found your property you can get an Approval In Principle from your chosen lender. This Approval is often handy to convince the vendor that you are a genuine purchaser. We can arrange for your mortgage application to be submitted as an Approval in Principle.

The amount you are able to borrow is primarily determined by your income, your employment status, the size of deposit you can provide and what other financial commitments you have.

There are two ways you can find a mortgage. The first way is to shop around among the different mortgage lenders yourself and see what each has to offer. The second way is to go to a mortgage broker, (like us) who can search a database of lenders to find a suitable loan for you.

• Does the mortgage guarantee a fixed rate of interest (and hence monthly payment) for the first few years? This can be a help during the early years, when your finances may be stretched.
  
  TIP: Just use the advanced options on our search to narrow it down to only fixed products.
  
  
• Look out for early repayment charges, which can make it costly to change lender.
  
  TIP: Our mortgage search results table sets out any repayment charges there are for early termination so that you can see which will cost you more to move.
  
  
• Will the loan let you take payment holidays if the repayments are likely to become a strain at certain times of year? This is known as a flexible mortgage and can also be helpful for people whose income fluctuates from one month to the next.
  
  TIP: Just use the advanced options on our search to narrow it down to only flexible products.
  
  
• Does the mortgage offer you a cashback lump sum when you first take it out? Loans like this can help you pay for furniture, carpets and all the other things you will need in your new home.
  
  TIP: Just use the advanced options on our search to narrow it down to only include cashback products.
  
  
• Will you still be able to afford the loan when any fixed-rate or discounted period is over? When special offer periods like this come to an end, most mortgages move to the lender's standard variable rate, which may be significantly higher.
  
  TOP TIP: Just check the mortgage search results table where it shows the initial and subsequent monthly payments of your mortgage.

Charcol is not authorised to offer investment advice.  We recommend you seek professional advice with regard to these topics if you believe they may affect you.