What type of Mortgage are you
looking for?
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Your mortgage
is probably the largest financial transaction and commitment you are
likely to undertake. Surely then you should seek mortgage advice which is
totally independent and individually tailored to your needs and
requirements? |
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We are not
tied to any particular lender, which means that we have the ability to act
on your behalf, representing your best interests, in order to establish
the most appropriate mortgage solution for you. |
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Gone are the
days when a borrower was grateful to the lender for providing them with a
mortgage facility. In today's marketplace, lenders are in competition with
each other for your valuable business. They are therefore willing to offer
incentives to entice you. But beware, you don't want them to snare you! |
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There are so
many types of mortgage available that it is easy to become confused,
possibly opting for the product offering the lowest headline rate of
interest. But when booking and arrangement fees, conditional insurances,
higher lending charges, lock-ins and
early repayment charges are taken into account, the products, may not be as attractive
as one was first lead to believe. |
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Standard Variable Rate (SVR), a mortgage where the
interest rate is not fixed, but rises and falls in line with changes in
the lender's own interest rates. |
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Fixed rate, a mortgage product which
guarantees a fixed rate of interest at a specific level for a set period.
After the set period has ended, the Standard Variable Rate will usually apply. |
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Discounted rate, a mortgage product
which offers an interest rate that is discounted at a specific rate from
the Standard Variable Rate for a set period. Any changes to the Standard
Variable Rate during the set period will also be reflected in the
discounted rate, but the percentage of discount remains constant. At the
end of the set period, the Standard Variable Rate will usually apply. |
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Capped rate, a mortgage product
which guarantees the interest rate charged will not rise above a certain
level for a set period of time. However, if the Standard Variable Rate
goes below the capped rate, the Standard Variable Rate will apply. Once
the set period of the capped rate has ended, the Standard Variable Rate of
interest will usually be charged. |
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Cashback, a mortgage product which
provides a cash lump sum or a cash percentage of the mortgage amount to
spend as you wish. The cashback amount is paid to the borrower shortly
after completion. The interest rate applied is usually the Standard
Variable Rate. |
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Tracker, a mortgage product linked
to a benchmark interest rate, such as the Bank of England base rate,
usually for a set period of time. The rate you pay moves up and down in
line with the benchmark selected. At the end of the set period, the
Standard Variable Rate will usually apply. |
Schemes available for:
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First Time Buyers
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Home Movers
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Self-Employed (with or without accounts)
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Contract Workers
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Temporary Workers
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Debt Consolidation
Think
carefully before securing other debts against your home. Your home
may be repossessed if you do not keep up repayments on your mortgage. |
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The overall cost for comparison is 6.6% APR variable.
The actual rate available will depend on your circumstances. Ask for
a personalised illustration. |
