Mortgages

Want access to all the mortgages from all the lenders in the mortgage marketplace?

Buying a home may well be one of your biggest financial commitments, and also one of the most daunting with over three thousand mortgage products to choose from. Which mortgage is the right one for you? With all of this to compare, how can you be sure of making the right choice. Contact me today, to arrange your no obligation meeting.

Being Independent allows us to work on your behalf.

Being Independent, we will search the whole market on your behalf, using the most up to date mortgage software, to find the most appropriate mortgage for you.

You may be:

A First time Buyer,
Moving Home,
Remortgaging to a lower rate to save money on your existing mortgage,
Remortgaging to a lower rate to capital raise,
Buying to Let,
Using your Right to Buy*

You may need:

An Interest Only Mortgage,
A Self certification mortgage*,

* For these types of mortgage The overall cost for comparison is 6.5% APR. The actual rate will depend on your circumstances.Ask for a personalised illustration.

We can assist you with a first class mortgage service, as we provide mortgage advice from the whole market, and give a full recommendation.

Please use this mortgage calculator link to assist you in your research, but please note that the calculator is supplied for guidance only.

Your property may be repossessed if you do not keep up repayments on your mortgage.

About Mortgages

Repaying your mortgage

There are basically three alternatives to paying your mortgage:

Repayment Mortgage - With a repayment mortgage you pay part interest and part capital & repayments to the lender each month, this then reduces the capital debt over time until the loan is repaid in full over a chosen time period.

Split Mortgage – A combination of the above, which is mainly used when a chosen investment is not on target to repay the outstanding loan.count was 20%.

Interest Only Mortgage - With an Interest Only mortgage you make no capital repayments until the end of the loan term, you will only pay the interest on the loan. Instead payments can be made into an investment which is designed to repay the loan in full at the end of the mortgage term. However, with this type of mortgage there is always the risk that the value of the investment may not be sufficient to repay the loan in full. The most common forms of investment vehicles used are endowments, ISA, Unit Trusts and certain types of pension, During the term of the mortgage you will only pay interest only to the lender on the outstanding balance.

Types of Interest rates

In addition to the standard variable interest rate, there are many different schemes available: Fixed, Discount, Capped and Collar, Flexible or even a combination of some of the above!

Standard variable rate - With this type of mortgage your payments will go up or down when the lender's mortgage rate changes. Most standard variable rates tend to move in line with the Bank of England base rate but there is sometimes a delay and there is no guarantee that the lender will pass on the full effect of the increase or decrease. When the interest rate goes up, the amount that you have to pay also rises, and it falls when interest rates come down.

A Tracker Mortgage - This is a variable rate where the interest rate is a set amount above or below the Bank of England or some other base rate and so always "tracks" changes in that rate.

Fixed rate - The rate is fixed for a specified number of years, so you know what your payments will be over that period. Following this period, the rate will usually revert to the lender's standard variable rate.

Discounted rate - A discounted rate gives you a reduction of, for example, 1% off the variable rate for a specified period. So, although the rate may rise and fall, you will be paying less than the standard variable rate for this period

Capped rate - Your payments are variable, but they are guaranteed not to rise above a set level (the "cap") during a specified period. These schemes may sometimes include a "collar" or minimum rate level which is the level the rate will not fall below. Following this period, the rate will usually revert to the lender's standard variable rate.

Flexible mortgages - These give various benefits which usually include the ability to vary monthly payments in line with your changing circumstances. They may also allow you to take 'payment holidays' and to borrow back any overpayment you have made. Because of their flexible nature and the variety of schemes available it is not possible to give a full description here, but your mortgage adviser will provide more detail if you are interested in this type of loan.

Current account mortgage - This is a flexible mortgage linked to your current account. Some companies in this sector also link savings accounts, credit cards, mortgages and personal loans together into combined accounts. With this type of mortgage, you are only charged interest on the net amount you owe the lender, after netting off any savings or current account balances against the amount of your mortgage.

Cashback - Some loans offer a lump sum which is paid out following completion, with a mortgage charged at the lender's variable base rate. Smaller cashbacks may be offered with reduced rates and other incentives as a combination package. These type of mortgages will typically have early repayment charges which would apply if you redeemed within a specified period after completion.

Buy to let mortgages* - A Buy to let mortgage enables you to buy a property with the sole purpose of renting it out. A deposit of at least 15% of the property's value may be required.

For mortgages we can be paid by commission or fee. If paying by a fee this is typically 0.5% of the loan.