Question 1

What does a mortgage broker do?

Accepted Answer

A mortgage broker reviews your income, deposit, credit history and plans, then recommends a mortgage from the lenders available to them and manages the application through to offer. Ernest May advisers have access to around 28,000 mortgage products from more than 100 lenders, handle the paperwork and lender chasing, and stay with the case until completion.

Question 2

Does Ernest May cover the whole of the UK?

Accepted Answer

Yes. Ernest May is a national UK mortgage brokerage, not a local branch business. Advice is delivered by phone, video call and email, so we work with clients across England, Wales, Scotland and Northern Ireland. You can book an appointment with a named adviser at a time that suits you, wherever you live.

Question 3

Is Ernest May regulated?

Accepted Answer

Yes. Ernest May Limited is an appointed representative of Mortgage Advice Bureau Limited and Mortgage Advice Bureau (Derby) Limited, which are authorised and regulated by the Financial Conduct Authority. That means the advice you receive is regulated advice, with the consumer protections and complaint routes that come with it.

Question 4

How much does Ernest May charge for mortgage advice?

Accepted Answer

There may be a fee for mortgage advice. The actual amount depends on your circumstances — it is up to 1% of the loan amount, although a typical fee is £595. Any fee is explained and agreed in writing before any work begins, so there are no surprises later in the process.

Question 5

How much can I borrow for a mortgage?

Accepted Answer

Most UK lenders offer between four and 4.75 times your annual income, though some go higher for certain professions or higher earners. Affordability also depends on credit commitments, childcare, the property type and the term. Ernest May runs your figures through the actual lender calculators rather than relying on a generic multiplier.

Question 6

What deposit do I need to buy a house?

Accepted Answer

5% of the purchase price is the mainstream minimum for a residential mortgage, but rates usually improve at 10%, 15% and 25% deposit levels. Buy-to-let normally starts at 20–25%. A larger deposit widens your lender choice and reduces the interest rate band you fall into.

Question 7

Can I get a mortgage if I am self-employed?

Accepted Answer

Yes. Self-employed applicants can get a mortgage with one, two or three years of accounts depending on the lender. Some lenders use salary plus dividends, others use net profit, and some accept retained profits or contractor day rates. Choosing the lender that reads your figures most favourably is usually worth more than chasing the headline rate.

Question 8

Can I get a mortgage with bad credit?

Accepted Answer

Often, yes. Missed payments, defaults, county court judgments, a settled IVA or a discharged bankruptcy do not automatically rule you out. Specialist lenders price on how recent and how serious the issue was, and on your deposit. High street rejection usually just means a different lender is needed.

Question 9

When should I start looking at a remortgage?

Accepted Answer

Around six months before your current deal ends. Many lenders let you reserve a new rate up to six months in advance, which protects you if rates rise and can usually be swapped if a better option appears before completion. Leaving it late risks reverting to your lender's standard variable rate.

Question 10

What is the difference between a remortgage and a product transfer?

Accepted Answer

A product transfer means switching to a new rate with your existing lender, with minimal paperwork and no new affordability assessment in most cases. A remortgage moves the loan to a different lender, which involves a full application and legal work but opens up the wider market. Ernest May compares both and explains the true cost of each.

Question 11

What is the difference between life insurance and critical illness cover?

Accepted Answer

Life insurance pays out if you die during the policy term. Critical illness cover pays a lump sum if you are diagnosed with one of the specific serious conditions listed in the policy and survive the required period. Many people hold both, often on one policy, so the mortgage is protected in either event.

Question 12

What is income protection and how does it work?

Accepted Answer

Income protection pays a monthly benefit if illness or injury stops you working, usually after a deferred period you choose, and continues until you return to work, the policy ends or you retire. It is designed to cover essential outgoings such as the mortgage, bills and food rather than replace your full salary.

Question 13

How does the Ernest May introducer programme work?

Accepted Answer

You refer a client through the introducer platform, an Ernest May adviser contacts them the same working day, and you track the case from advice through to mortgage offer in your dashboard. You are paid £200 for every referral that reaches mortgage offer, or 25% of the procuration fee if you prefer that arrangement.

Question 14

Do I need to be FCA regulated to refer clients to a mortgage broker?

Accepted Answer

No. Introducing a client to a regulated firm for advice does not require you to be authorised, provided you do not advise on or recommend a specific product yourself. Ernest May shows introducers exactly where that boundary sits and provides compliant wording to use with clients.

Question 15

Who can become a mortgage introducer with Ernest May?

Accepted Answer

Estate and letting agents, accountants, IFAs, solicitors and conveyancers, builders and developers, and other professionals whose clients need mortgage advice. Applying takes a couple of minutes; once verified, your introducer portal login is activated and you can submit your first referral immediately.

Question 16

What is BrokerBase?

Accepted Answer

BrokerBase is Ernest May's in-house broker intelligence platform: eleven tools built into the CRM covering lender criteria, market data, maximum loan and affordability, marketing, compliance, case notes, payments and website building. It exists to remove the admin that slows advisers down so more time goes into advising clients.

Question 17

How do I join Ernest May as a mortgage adviser?

Accepted Answer

Email luke.readings@ernestmay.com or book a demo through the website. Ernest May will walk you through how the business works, the support and compliance framework via Mortgage Advice Bureau, and show you BrokerBase in full so you can judge it against what you use now.

Question 18

Who are Ernest May?

Accepted Answer

Ernest May is a national UK mortgage and protection brokerage. Its advisers arrange residential, buy-to-let, self-employed, adverse-credit and later-life mortgages, alongside life, critical illness and income protection cover, for clients across the UK. Ernest May Limited is an appointed representative of Mortgage Advice Bureau.

Question 19

How many lenders does Ernest May work with?

Accepted Answer

Ernest May advisers have access to around 28,000 mortgage products from more than 100 lenders, including high street banks, building societies and specialist lenders. Access to a lender panel is only half the job — advisers also know each lender's criteria and appetite, which is what determines where a case is placed.

Question 20

How do I contact Ernest May?

Accepted Answer

Call 0333 335 5903, email hello@ernestmay.com, or book an appointment with a named adviser directly through the website at ernestmay.com. You can also view individual adviser profiles and book straight into their calendar at a time that suits you.

What is loan-to-value (LTV) and why it matters