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Buying a Home in Cheltenham? Here’s Everything you Need to Know About Getting a Mortgage

Graham Taylor driving the Hudson Rose taxi in Cheltenham

Cheltenham is a bustling town, well known for its lively nightlife and cultural attractions, and it’s also a great place to raise a family. The Cheltenham property market is extremely diverse, with something for everyone. In this article, we will discuss mortgages in Cheltenham and some of the best ways to get one. We’ll also cover some important points to consider when getting a mortgage, so If you’re thinking of buying a home in Cheltenham, read on!

There are plenty of things to do and see in Cheltenham and hence why lots of families chose to make their homes here. It also has a number of excellent schools, making it an ideal place to buy a property.

If you’re a first time buyer, Cheltenham is a good place to buy a property. Mortgages are available from a number of different lenders, and there are a variety of properties to choose from. It’s important to consider your budget and what you can realistically afford. Bear in mind that Cheltenham can be an expensive place to live, so you’ll need to make sure your monthly income is enough to cover all your usual costs as well as the mortgage on top.

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How does the mortgage application process work?

The first thing you will need to do is calculate your affordability. Can an accurate figure for your take-home monthly income. Make a list of all your monthly outgoings such as council tax, utlitity bills, groceries, travel costs, TV license etc. Add these all up and subtract them from your income. This will give you a sense of how much you have left to spend on a mortgage.

You will need to be able to prove to a lender what your income and outgoings truly are so it’s a good idea to start lining up the paperwork ready for the application process.

Here are the documents you’ll need:

– A deposit of at least five percent of the property value. The average house price in Cheltenham is £325,000, so you would need a deposit of at least £16,250.

– Proof of income – usually in the form of payslips or tax returns, depending on your employment status.

– Identification – passport or driving license.

– Bank statements going back at least three months.

Once you’ve managed to dig all of these documents out of the filing cabinet/big pile behind the sofa, it’s time to do your research. Contact a range of lenders to see how much you can borrow, or find a friendly mortgage advisor to do the research for you!

If you’ve successfully calculated how much you can afford, then you can start looking at houses. Register with estate agents in your preferred areas of Cheltenham, they may be able to show you properties that haven’t come onto the market yet.

Give some thought to your deposit. Do you have some savings that you’ve put aside for this purpose? Are you fortunate enough to have a family member who is willing to gift you some money for a deposit? At the very least you will need a deposit of 5% of the value of the property that you are looking to buy. And don’t forget to bear in mind the Stamp Duty!


Do your research and get professional adviceHudson Rose team in sunglasses in front of pink graphic mural

When it comes to securing a mortgage for your Cheltenham property, we highly recommend that you compare rates and fees before making a decision, and, of course, Hudson Rose can help you with that if you prefer. With careful planning and budgeting, we can find you a mortgage that suits your needs and helps you realise your dream of becoming a home owner!

Hudson Rose aim to make mortgages easy. We’ll talk you through all the paperwork and technical jargon, keep the process as simple as possible and make sure you’re updated every step of the way. With years of experience helping people find the right mortgage for their needs, it’s no wonder so many of our clients recommend us to their friends and family.

Contact us today for expert advice and guidance on mortgages in Cheltenham. or 01242 235700. We’re here to help!


Check out some more handy blogs from the Hudson Rose team!

The big mistake you don’t want to make with your mortgage

Buy-to-Let Mortgages: Affordability and Deposits

Tips for getting a mortgage if you’re self-employed


Hudson Rose Services Ltd is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority.
Hudson Rose Services Ltd, trading as Hudson Rose. Registered Office: 7 Bridge Street, Nailsworth, Stroud, GL6 0AA
Registered Company Number: 11008147 Registered in England

Hudson Rose Services Cirencester Ltd, trading as Hudson Rose. Registered Office: 78 Dyer Street, Cirencester GL7 2PF Registered Company Number: 13349772 Registered in England

There may be a fee for arranging a mortgage and the precise amount will depend on your circumstances. This will typically be £499. There is no charge for any initial consultation.

Your Home may be Repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. Not all forms of Property Development Finance are regulated by the Financial Conduct Authority

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