Choosing the right mortgage can be confusing and the jargon that comes with it can be somewhat puzzling. With a variety of different options available on the market it can be hard to find a deal that exactly matches your circumstances and budget.
Below are some of the most common mortgage scenarios
Defined as someone buying a house or flat who has not previously owned a property
Selling your current home to move up the property ladder or to downsize
Remortgage for a more competitive rate or to release some equity from your home for a variety of reasons like home improvements
Buying a property to rent as an investment, rather than as a place to live
To release some equity or to get a more competitive rate on your buy to let
Change your existing mortgage to a buy-to-let, and then take out a standard mortgage on the home you're buying
Unlike many brokers, we have established relationships with key lenders, including those that do not have a high street presence. We also have access to products that may not be available direct with the lenders. Once the mortgage application has been submitted to the lender, our team manage the process through to offer and liaise with your solicitor, so as to minimise any delays in your purchase or remortgage.
See below the different types of mortgages that we can arrange for you.
A type of mortgage in which the borrower repays only the interest on the loan for the duration of its term, and repays the full loan amount at the end of the mortgage period.
A mortgage in which monthly charges are used to repay the interest and to reduce the outstanding capital. At the end of the mortgage term you will own the propoerty outright.
A part and part mortgage is a combination of the two. Part of your mortgage is on capital repayment and will be paid off at the end of your mortgage term, but you'll need a plan in place to repay the interest only part at the end of your term.
A mortgage under which the rate of interest has been fixed for a specified period of time. This will usually be between 2 and 10 years, with the advantage being the certainty that it provides to the borrower.
A type of mortgage whereby the rate of interest charged tracks another specified interest rate, for example the Bank of England Base Rate.
With a discount mortgage you initially pay a rate of interest that is a set amount below the lender's standard variable rate (SVR), for a specified period of time, after which you revert to the SVR.
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