Mortgage guides & explainers

Plain-English explainers on how mortgages actually work across the UK, US, Canada and Australia — the rules, the maths, and the numbers behind the calculators.

Modern detached homes on a quiet street, illustrating an article on Canada's 2026 mortgage renewal wave

Canada Mortgage Renewal 2026: How Big Is the Payment Jump?

Over a million Canadians renew mortgages in 2026, many off ~2% pandemic rates. See the monthly payment jump on a $500,000 mortgage renewing near 4.5%.

Column chart of the maximum US home loan on a $90,000 income at 6.5% by DTI ceiling: about $261,000 at a 28% front-end, $277,000 at 36%, $360,000 at 43%, and $443,000 at 50% back-end, with the 36% to 43% step adding about $83,000

Debt-to-Income Ratio: How Much US Lenders Let You Borrow

US lenders size your mortgage with debt-to-income ratios. See how much you can borrow at a 36% vs 43% DTI on a $90,000 income, and how it stretches to 50%.

Diverging bar chart of the 5-year cost of a 2-year fix route versus a 5-year fix on a Â£250,000 UK mortgage: it saves about Â£3,900 if rates fall to 3.5%, is roughly level if they hold, and costs about Â£5,600 more if they rise to 5.5%

2-Year vs 5-Year Fix: Which UK Mortgage Deal Wins in 2026?

With 1.8 million UK fixed deals ending in 2026, is a 2-year or 5-year fix better? See the cost of each on a Â£250,000 mortgage, and when each one wins.

A row of modern suburban homes, illustrating an article on how much you can borrow for a mortgage in New Zealand

How Much Can You Borrow for a Mortgage in New Zealand?

In New Zealand three rules cap your mortgage: the RBNZ 6x-income DTI limit, your deposit (LVR), and the bank's test-rate serviceability check. The lowest one wins.

A row of British brick terraced houses on a residential street, illustrating an article on choosing a UK mortgage term length

UK Mortgage Term Length: What 25 to 40 Years Really Costs

A longer UK mortgage term cuts your monthly payment but adds tens of thousands in interest. See what 25, 30, 35, and 40 years cost on a Â£250,000 loan.

A modern house exterior on a bright day, illustrating an article on how much more UK buyers can borrow after mortgage affordability rules were eased in 2026

UK Mortgage Affordability Eased: How Much More Can You Borrow?

UK lenders eased affordability tests in 2026 and regulators are relaxing the high loan-to-income cap. How much more you can borrow, and how to check your limit.

Tiered blocks of the Irish residential stamp-duty bands: 1% up to â‚¬1 million, 2% between â‚¬1 million and â‚¬1.5 million, and 6% above â‚¬1.5 million, showing most buyers pay 1%

Irish Stamp Duty on a Home: Rates and What Buyers Pay

Irish residential stamp duty is 1% up to â‚¬1 million, 2% to â‚¬1.5 million, and 6% above. Most buyers pay 1%, and there is no first-time-buyer break.

Chart of how a 0.25% ECB rise reaches each mortgage type on â‚¬300,000: a tracker and a variable rate both about â‚¬41 a month more, applied immediately versus after a lag, while a fixed rate stays at â‚¬0 until its term ends

What an ECB Rate Change Does to Your Irish Mortgage

An ECB rate move hits a tracker at once, a variable rate soon after, and a fixed rate not until it ends. What a 0.25% change costs on an Irish mortgage.

Comparison table of a fixed versus a variable Irish mortgage: typical rate, monthly repayment on â‚¬300,000 over 25 years (â‚¬1,486 versus â‚¬1,600), whether the payment can change, break-fee exposure, and who each rate suits

Fixed, Variable, or Tracker: Choosing an Irish Mortgage Rate

In Ireland, new buyers really choose between fixed and variable; trackers are closed to new customers. How each rate type behaves, and what it costs.

Horizontal stacked bar showing how a â‚¬400,000 first home can be funded: a â‚¬300,000 mortgage, â‚¬10,000 of savings, a â‚¬30,000 Help to Buy refund, and a â‚¬60,000 First Home Scheme equity share

Help to Buy vs the First Home Scheme: How They Work Together

Ireland's two first-time-buyer supports do different jobs: Help to Buy refunds your tax toward the deposit, the First Home Scheme takes an equity share.

Line chart of the maximum Irish mortgage by gross income under the Central Bank income limit, with a first-time-buyer line at four times income sitting above a second and subsequent buyer line at 3.5 times income, across gross incomes from â‚¬30,000 to â‚¬120,000

Ireland's Central Bank Mortgage Rules: How Much You Can Borrow

The two Central Bank rules that cap an Irish mortgage: four times income for first-time buyers, 3.5 times after, and a 10% minimum deposit. What each means.

Line chart showing cumulative savings from a mortgage point crossing above the $4,000 point cost at the 61-month break-even mark, then continuing to grow for the remaining loan term

Mortgage Points: The Break-Even Math Before You Buy Down Your Rate

Buying mortgage points lowers your rate, but not for free. Here's the break-even number on a $400,000 loan, and when paying points actually pays off.

Donut chart comparing total interest paid over the life of a UK mortgage with and without a Â£30,000 offset account: Â£188,443 without offset versus Â£126,834 with offset, a saving of roughly Â£61,600

Offset Mortgages Explained: How They Actually Save You Interest

An offset mortgage links your savings to your mortgage balance so you're charged less interest. The worked math on how much that's really worth.

Table comparing US PMI, Australian LMI, and Canadian CMHC mortgage default insurance on a $450,000, 90% LTV loan: PMI roughly $3,375 per year ongoing, LMI roughly $7,500 one-time, CMHC $13,950 one-time and mandatory

PMI, LMI, CMHC: Mortgage Default Insurance Compared

The US, Australia and Canada all charge for a small down payment, but the mechanics differ completely. What PMI, LMI and CMHC insurance actually cost.

Comparison card showing a 7/1 ARM's initial payment of $2,360, its year-8 adjusted payment of $2,666 under a typical rate move, and its lifetime-cap worst-case payment of $3,527, against a steady 30-year fixed payment of $2,528

ARM vs Fixed-Rate: What an Adjustable Rate Actually Means for Your Payment

A 7/1 ARM can save you real money for seven years, then reset. What the savings, the reset, and the worst-case cap actually look like in dollars.

A couple reviewing paperwork with an advisor at a table, representing the point at which closing costs and final loan documents are reviewed before signing

What's Actually in Your Mortgage Closing Costs

Closing costs run 2-5% of your loan, but the number is really six or seven separate fees. A line-by-line breakdown on a $400,000 loan.

Semi-circle gauge chart showing a $360,000 loan on a $400,000 home landing at 90% LTV, inside the highest-rate-tier zone above the 80% mortgage-insurance threshold

Loan-to-Value (LTV): The One Ratio That Sets Your Rate

Loan-to-value drives your rate, your insurance requirement, and your refinancing options. How LTV is calculated, priced in bands, and how it shifts as you pay down and the market moves.

Bar chart comparing property purchase taxes: Â£7,500 UK stamp duty on a Â£350,000 purchase, AU$27,395 NSW transfer duty on a $700,000 purchase, CA$10,475 Ontario land transfer tax on a $700,000 purchase, and CA$20,950 in Toronto once the municipal land transfer tax is added

Stamp Duty vs Land Transfer Tax: What You Actually Owe on Closing Day

The UK, Australia, and Canada all tax the purchase itself, not just the property, but the bands, thresholds, and names are completely different, and the total bill can vary enormously.

Horizontal bar comparison showing a Â£280,000 mortgage at 5.25% paying off in 300 months with no overpayment versus 255 months with an extra Â£150 a month, saving Â£38,935 in total interest

Mortgage Overpayments: What Extra Money Really Buys You

An extra Â£150 a month sounds small until you see what it does to a 25-year mortgage. The worked math on overpayments, plus the annual limits in the UK, Canada, and Australia.

A red 'House for Rent' sign in front of a modern home, representing the point at which a landlord's rental yield calculation meets a lender's stress test for investment financing

Rental Yield Isn't the Whole Story: How Lenders Stress-Test Investment Loans

A good gross yield doesn't guarantee a lender will approve your buy-to-let loan. How rental yield is calculated, and how UK, Australian, and Canadian investment-loan stress tests are structured.

Comparison matrix contrasting a same-lender product transfer against a full remortgage with a new lender across credit checks, valuation, legal work, market access, and typical processing time

Remortgaging and Refinancing Are the Same Idea, Different Words

Remortgage in the UK, refinance in the US, Canada, and Australia. Same underlying transaction, but the same-lender product transfer shortcut works differently everywhere.

Side-by-side comparison card showing a $2,338 monthly payment under standard monthly compounding versus a $2,326 monthly payment under Canada's semi-annual compounding rule, both on a $400,000 loan at 5% over 25 years

Same Rate, Different Payment: Mortgage Compounding Compared

A 5% mortgage rate doesn't mean the same payment everywhere. See how compounding rules in the UK, US, Canada and Australia change what you pay.

A person at home reviewing a budget notebook with cash on the table, representing the household planning needed before a UK fixed-rate mortgage deal ends and reverts to the standard variable rate

The Fixed-Rate Cliff: When Your UK Mortgage Deal Ends

Your UK fixed-rate deal ending can mean a payment jump of hundreds of pounds a month. This is why the 'cliff' happens, and how to plan around it.

Close-up of a couple holding a new house key after completing on a home purchase, representing the point at which a buyer chooses between an interest-only or principal-and-interest mortgage

Interest-Only Mortgages: The Real Cost of Waiting

An interest-only period lowers your payment today, but not what you owe. The real math on what it costs versus paying principal from day one.

Table comparing mortgage stress-test rules by country: Australia's mandated +3.0 percentage point buffer under APRA APG 223, Canada's +2.0 percentage point buffer or 5.25% floor under OSFI B-20, the UK's lender-discretion buffer of roughly 3 percentage points, and the US's 28/36 income-ratio caps instead of a rate buffer

Mortgage Stress Tests Compared: UK, US, Canada, Australia

The UK, Canada and Australia test mortgages against a higher hypothetical rate. The US takes a different approach entirely â€” here's how each works.

Two donut charts showing Canada's mortgage affordability ceilings: 39% of gross income for the GDS ratio (housing costs only) and 44% for the TDS ratio (housing plus all other debt)

GDS and TDS Explained: What Canadian Lenders Actually Use

GDS and TDS are the two ratios that decide how much mortgage you can get in Canada. Here's what counts toward each, and the 39%/44% ceilings.