Navigating a volatile and competitive mortgage market with Mortgage Lolly

In the face of rising mortgage rates working in tandem with the cost-of-living crisis, it is arguably harder than ever to put together a compelling mortgage application. With the addition of mortgage lenders tightening their criteria in recent years, navigating the mortgage landscape with all its unknowns – especially for a first-time buyer – can be difficult. In turn, the time-consuming and often tedious process of checking credit scores alongside the copious amounts of statements can be overwhelming.

This is where Mortgage Lolly can help. With more than 25 years of experience in the mortgage industry, the team leverage their industry expertise and relationships to provide the best mortgage solutions and deals across dozens of UK’s top lenders. Here, Mortgage and Protection Consultant, Warren Pesch, from Mortgage Lolly talks us through the tips and process in securing a mortgage.

What are the current housing market conditions?

The demand has never bee higher for people wanting to own their own homes. But with interest rates on the rise and lenders having less appetite to lend due to the unstable political and economic global outlook, these are certainly challenging times.

Is now a good time to buy?

When is a good time to buy? The question should be what are your goals and aspirations. It’s never going to be an ideal time to buy. The world never stands still.

What impact are the cost of living crisis and rising inflation rates having on current homeowners and what advice would you give to those looking to re-mortgage?

You must look at your current situation. For example, if you are coming to the end of your fixed interest rate period. Then look at what is available and do a pros and cons exercise against what you would ideally like (or have been recently paying each month), and what would be the maximum you could afford to pay each month. By doing this you can see what’s available and make some hard decisions a lot easier.

What is your process in recommending the right mortgage for clients?

In short, be organised. Get all your paperwork together beforehand as this will make life easier in the long run.

What are the most common mistakes buyers make when buying a home?

Underestimating the task at hand. Furnish yourself with as much knowledge as possible. Speak to independent professionals and go with your gut feeling about the people you speak to in terms of whether or not you want to use their professional services going forward.

What steps can first-time buyers take to improve their chances of landing a mortgage

deal that suits them?

Plan ahead, even as much as up to 18 months earlier. That way you will have the ability to put into place what you can influence. For example, from an income point of view, look at how and when you might be able to increase your income either through promotion, finding a better paid job, or contract if you are self-employed.

What sets Mortgage Lolly apart in an ever-changing competitive market?

Being aware of the ever-changing landscape and keeping up to date with the latest requirements and criteria of lenders.

Is there anything else you would like to add?

Don’t be put off. The sooner you speak to a professional, the sooner you become aware of what you are able to achieve now. Or more to the point, if not now, what you need to put in place to be able to hit your future goals.

For more information on how Mortgage Lolly’s expert advice can aid you with an array of mortgages, equity release and debt consolidation solutions, please visit