Which Mortgage
Whether you’re looking for a Residential, Re-mortgaging, Buy to Let, Shared Ownership/Equity or you are looking to utilise a government scheme to help you buy your home, we would like to help.
Maybe you want to know exactly how much you could borrow? what terms are available? and the right deals that are currently available?
There are several types of mortgage rate available, we will help you to decide which one is right for you based on your circumstances and preference.
Mortgage Rates
Fixed Rate
A set payment for a set period of time relieving the worry of payment increases.
Variable Rate
Variable monthly payments determined by the mortgage lenders rate.
Discounted Rate
A discount offered by lenders on their standard variable rate. Often for an introductory period only
Offset
Allows you to offset your savings against the amount you owe on your mortgage, reducing how much interest you pay.
Tracker Rate
The interest charged on a tracker mortgage is linked directly to, and will rise and fall in line with, the Bank of England base rate.
Types Of Repayment
CAPITAL & INTEREST
You repay both the interest and the original capital sum gradually over the term of the mortgage. Provided all payments are made in full and on time, the full loan is guaranteed to be repaid at the end of the term.
INTEREST ONLY
You do not make any capital repayments. Your monthly payments are correspondingly lower but the original capital sum remains outstanding at the end of the term. We do recommend having a suitable repayment vehicle that will clear the mortgage at the end of the term. There are risks associated with this type of mortgage.
PART & PART
You may wish to combine both types of payment method, especially if you plan to make a lump sum payment in the future.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Most Buy to Let mortgages are not regulated by the Financial Conduct Authority.
