What type of Mortgage?
Whether you're a first time buyer, remortgaging, moving up the housing ladder or buying a property to rent to others we can offer advice that is tailored to your needs and circumstances.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
THE VALUE OF PROPERTY INVESTMENTS AND INCOME FROM THEM CAN GO DOWN AS WELL AS UP AND INVESTORS MAY NOT GET BACK THE AMOUNT ORIGINALY INVESTED.
COMMERCIAL MORTGAGES AND MOST FORMS OF BUY TO LET MORTGAGES ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.
A lot of home-owners buy a second home, which they make into their residential home. Standard residential mortgages are specifically for properties that home owners want as their residential home(s).
Many homeowners change their mortgage supplier because their fixed rate mortgage is coming to an end and by changing to another provider they may find that they can save money on their monthly payments.
Buy to Let Mortgages
Buy-to-let mortgages are specifically for properties that landlords let to tenants and are often more expensive than residential mortgages
Some buy to let mortgages are not regulated by the Financial Conduct Authority
You could be facing a pension shortfall or have to meet unexpected expenses or simply want to fund a retirement treat, equity release can be an attractive option. It allows you to tap into the wealth you've accumulated in your property without the stress of of having to move.
This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.
First Time Buyers
Buying your first home can be daunting. We can advise and make sure you're fully aware of any support that's available like any help to buy schemes
Flexible mortgages give you greater flexibility when compared to a normal mortgage. It will be the same as a “normal mortgage” with some extra flexible features bolted on. The features and how they work will differ between providers.
Self Build Mortgages
A self-build mortgage is a home loan taken out on a property which you are building yourself. The biggest difference between self&45;build mortgages and standard residential mortgages is that the funds are given to you in stages rather than as a single lump sum.
Current Account (or Offset) Mortgage
A current account mortgage (or offset mortgage) uses the balance in your everyday savings or cheque account to reduce what you owe on your mortgage on a daily basis.
How do I repay my Mortgage?
Mortgages should be straightforward - you borrow money to buy a house and pay interest on the loan. In a hugely competitive market, building societies and banks are continually updating and extending their range of mortgages.
The most important points are how you pay back the capital you borrow and how you pay the interest on it.
You can either pay the capital a little at a time as you go (repayment mortgage) or pay it all off at the end (Interest only or endowment mortgages).
Paying back the capital on your mortgage
You can either pay a little at a time as you go (repayment mortgage) or pay it all off at the end (interest only).
Each monthly payment pays off a little of the underlying debt, as well as interest on the loan. At the end of the repayment term providing all payments have been made in full and on time the mortgage will be repaid in full.
Interest only mortgages.
With this type of mortgage, you pay&45;off the interest on the loan but not the capital. Then at the end of the mortgage term it is your responsibility to repay the capital.
Variable, fixed and capped rates.
Variable: paying the going rate on your loan, goes up and down with changes in interest rates. Fixed rate: The interest rate is fixed for the period agreed. Capped rate: These are fixed, but if rates fall you pay the lower rate.
Our Fees for arranging and advising on mortgage business:
On receiving an enquiry we will contact you. The purpose of the call is firstly to establish whether we are able to assist you and secondly to discuss how we would be paid for our services should we be instructed to proceed. There is no charge for this preliminary call/meeting and no obligation on either side.
There will be a fee for our advice. The precise amount will depend upon your circumstances:
Our minimum fee is £1,000 of which £250 is payable at outset and is non-refundable. We may get paid a procuration fee from the lender and we will use this to offset the remaining £750, up to a maximum of £750.
The initial fee is £250 and we receive a procuration fee of £550 from the lender. The balance of £200 (£1,000 less the £250 and £550) is payable by you at completion.
The initial fee is £250 and we receive a procuration fee of £850 from the lender. As we have received more than our minimum fee no further payment is required.
No charges or fees will be incurred without prior agreement.