The Right Mortgage for You
First Time Buyer Mortgages
Buying your first house can be a daunting experience and we will help and advise you on the best deals available and make you aware of all the costs involved so you are confident you can afford the repayments.
Many Lenders have special offers for first time buyers, with lower rates at the start and reduced fees, but these are not always the right mortgage deal for you. Our Advisers will ensure that you are aware of the deals on offer and recommend the right one for you.
Buy to Let Mortgages
The "Buy to Let" market has been growing considerably especially over the past 10 years. This is where you are buying a property with the intention of renting it out and need to ensure that the rental income covers the cost of your mortgage payments.
Lenders will usually only offer mortgages when they are sure that the annual rental income is at least 125% of the annual repayments. In fact, in some cases your personal income is not even considered. Generally, buy to let mortgages carry a higher interest rate and Lenders expect a larger deposit.
When buying a second property, you need to decide if you are looking for an additional income from the rent on a shorter term, or if you wish to make a profit on a longer term basis on the rising value of the property over the years. Our Advisers will ensure that you are aware of the deals on offer and recommend the right one for you.
Re-mortgages
These days, it is relatively simple to move your mortgage from one Lender to another and there are a number of reasons why you would want to move.
The most common reason is that there may be a more suitable deal available with another Lender. For example, you may have had a discounted rate mortgage on an introductory offer basis, which has now expired.
It may be wise to move to another Lender in this instance, provided that there are no penalty fees with the existing Lender or no high set up fees with the new Lender.
Alternatively, you could be looking for a re mortgage to consolidate other debts or to improve your home. Our Advisers will ensure that you are aware of whats on offer and recommend the right one for you.
"Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage"
A fee of a maximum of £250 or 0.5% of the loan amount , if greater payable on completion. Typically this will be £150.
Holiday Home Mortgages
More and more people are buying a second home in the sun for investment or retirement planning purposes by remortgaging. For instance, you could take out an international mortgage from either a UK Lender or from a Lender based in the country you are purchasing the property.
Alternatively, you could release the equity from your home in the UK by re mortgaging. Our Advisers will ensure that you are aware of the deals on offer and recommend the right one for you.
Buy to Let mortgages and mortgages with overseas lenders are not regulated by the Financial Services authority.
Changes in the exchange rate may increase the sterling equivalent of your debt.
