Mortgages
We are able to provide an unparalleled mortgage placement service to all our clients. Selecting from hundreds of mortgage products from our computer database which is updated daily, we aim to find a mortgage product to suit your own individual requirements. Please take advantage of our our enquiry form or call us today about First time Buyer Mortgages, Home Mover Mortgages, remortgages, Buy to Let Mortgages etc.
Capital & Interest Repayment Mortgage
The traditional way of repaying a mortgage. Repayments consist of both capital and interest with the debt reducing over the term of the mortgage. A separate life assurance is usually arranged to protect the mortgage debt.
Endowment Mortgage
A way of combining a house purchase with an investment and including a life assurance. Interest only repayments are made to the lender with a premium payable to a life assurance company. The debt does not reduce but is repaid at the end of the mortgage term by the maturing endowment policy. The final maturity amount is not guaranteed and may be more or less than the mortgage debt.
ISA Mortgage
Also a way of combining a house purchase with an investment but life assurance is not automatically included and needs to be arranged separately. There is the flexibility to increase or decrease regular contributions and contribute additional lump sums or take withdrawals. The final maturity amount is not guaranteed and may be more or less than the mortgage debt.
Flexible Mortgage
Usually arranged on a capital & interest repayment basis with interest calculated daily with the flexibility to make additional repayments to repay the mortgage early.
Standard Variable Rate - SVR
The mortgage lender's normal base mortgage rate.
Discounted Interest Rate
The SVR is discounted for a period of time, usually 1 to 5 years, to offer the borrower the incentive of cheaper repayments.
Fixed Interest Rate
The interest rate is fixed for a period of time, usually 1 to 5 years, to offer the borrower the security of fixed repayments.
Capped Interest Rate
The interest rate is variable but guaranteed not to exceed a certain level, the cap, but may fall in line with the SVR.
Cashback
The lender offers a cash lump sum on completion of the mortgage as an incentive. The larger cash backs are available on the SVR. Smaller cash backs may be combined with other incentives.
Base Rate Tracker
The interest rate charged is linked to the Bank of England Base Rate instead of the mortgage lender's SVR.
Redemption Penalties
Very often, where an incentive is offered, the lender makes it conditional on the borrower maintaining the mortgage account for a specified number of years - the redemption penalty period. Any redemption or part redemption occurring within this period usually incurs a financial penalty.
Some Important Questions You Should Be Asking
• How much can I afford to borrow?
• How can I tell which mortgage rate is best for me?
• What is the best type of mortgage for me?
• How should I repay it?
• Can I make lump sum payments to reduce the size of the loan?
• Are there any redemption penalties?
• Does this mortgage come with compulsory insurance?
• What other charges will I have to pay?
• What happens if I cannot pay?
• What about the small print?
Buy to let mortgages are not typically regulated by the FSA
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
You can choose how we are paid this can be through commission or a fee or a combination of both. If you choose the fee only option although it will depend on your individiual circumstances typically this will be £395