Applying for a mortgage without advice

You can take out a mortgage without receiving advice if you:

• are taking out a mortgage for the first time
• want to remortgage
• want to increase your mortgage

The compulsory knowledge and experience test will show you whether you know enough to take out a mortgage without receiving advice and whether you are aware of the risks. If you pass this test, you can take out a mortgage without receiving advice, provided your situation is appropriate. The test takes approximately 20 minutes.

• Additional repayments
• Changing your interest rate. Both during and at the end of your fixed-rate period.
• Changing the mortgage type

Your partner also needs to take the test if:

• you are married/registered partners
• the existing mortgage is registered in two names
• you are applying for a mortgage based on two incomes
• your partner will be joint-owner of the property