Mortgage Services


Mortgage Services


Your mortgage is probably the largest financial transaction and commitment you are likely to undertake. Surely then you should seek mortgage advice which is individually tailored to your needs and requirements? We are not tied to any particular lender, which means that we have the ability to act on your behalf in order to establish a suitable first charge mortgage solution for you, based on your needs, circumstances and preferences.

We offer a comprehensive range of mortgage products from across the market for first charge mortgages only. We do not offer deals that you can only obtain by going direct to a lender. The lenders we offer mortgages from is available as an appendix which we attach with our Important Information About Our Services document which will be provided at the first meeting.

For those seeking to increase their existing borrowing, alternative finance options may be available and more appropriate for your needs. For example, a further advance from your existing lender, a second charge mortgage or an unsecured loan (e.g. a personal loan). For those seeking a ‘Retirement Interest Only Mortgage’, a ‘Lifetime Mortgage’ may be available and more appropriate for your needs.

Please find below a list of the mortgage products we provide and a brief introduction to each product. Our highly experienced team of mortgage advisers would be happy to discuss your requirements so please do contact us for an informal discussion to see how we might be able to help you.

A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME OR PROPERTY. YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

MOST FORMS OF BUY TO LET MORTGAGE ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.


We Can Help With The Following


Purchasing Your First Home

First time buyer mortgages with as little as 5% deposit or the Help to Buy Scheme for new build homes. Buying your first home is one of the biggest steps you’ll take in life. Your first step onto the property ladder can be daunting, how do you decide what’s the right option for you? With the right advice, applying for your first mortgage can be pretty straightforward. And there is a range of great options available for first-time buyers.

Moving Home

We can help with finding the mortgage solution if you are buying your next home.

Self-Employed

Getting a mortgage as a self-employed person has always been challenging. Due to unpredictable income and cashflow, some lenders can be reluctant to provide self-employed people with a mortgage. There are solution, being self-employed doesn’t mean you can’t get a mortgage with a great interest rate. Providing you can evidence your income and handle monthly mortgage repayments, obtaining a mortgage is still achievable.

Buy To Let Mortgage

If you want to buy an investment property or remortgage an existing buy to let property, we can help. We can help with Limited Company mortgages and portfolio landlords.

Poor Credit Mortgages

If you have had credit difficulties in the past and have a poor credit profile, it can be difficult to find a mortgage. This is something we can help you with. Examples of Poor credit:

  • Bankruptcy
  • IVA
  • Debt Management Plans
  • Defaults
  • CCJ’s
  • Late payments
  • Payday loans

Remortgaging

Remortgaging, be it residential or an investment, such as Buy to Let, allows you to switch to a different mortgage provider or product. By doing this, you can often save money and free up funds. If you’ve been with the same mortgage lender for some time, there’s a chance that you may be on an expensive variable rate that you can change at anytime without penalty.

Your Existing Rate Is About To End

Your initial mortgage rate tends to only last a short period of time. With new offers frequently being added to the market, it’s wise to review your mortgage when your fixed rate is ending.

Capital Raising

You could be looking to raise funds to complete some home improvements or to help your children onto the property ladder. Whatever the reason for needing extra funds, remortgaging, either with the same lender or a different one, can be a cost effective way of achieving this.

Your Property Value Has Increased

If the value of your property has increased since you took out your mortgage, you may be able to reduce the amount of interest you pay by remortgaging to a better deal.

YOU MAY HAVE TO PAY AN EARLY REPAYMENT CHARGE TO YOUR EXISTING LENDER IF YOU REMORTGAGE.


Repayment Methods


Once your mortgage application has been accepted in principal, the your may have the option of deciding how you repay the loan: on a ‘capital and interest’ basis, or on an ‘interest only’ basis.

Capital and Interest Mortgages

An arrangement where part of the monthly repayment is used to pay the interest and the remainder is used to reduce the original amount of the loan. In the early years of the mortgage, most of the monthly repayment goes towards paying the interest; in later years, the interest charges diminish and more of the repayment is available to reduce the loan amount.

Interest-only Mortgages

Interest only mortgages are a type of mortgage where only the interest is repaid. The full capital amount remains outstanding during the mortgage term and is repaid in one lump sum at the end of the term.

Lenders require evidence that a customer will have in place a clear credible repayment strategy and that the repayment strategy has the potential to repay the capital borrowed.

Repayment strategies may include deposits or investment product(s), pension(s), periodic repayment of capital from irregular sources of income (i.e. bonuses), the sale of another property or other land or other acceptable methods which meet lending criteria.

This means that the mortgage payments each month will be lower than those of a repayment mortgage for a similar loan and term. Where the repayment of capital is an investment the investment runs alongside the mortgage but is separate from it; the cost should be taken into account when calculating the overall costs of the mortgage arrangement.

Every month, you then pay this interest to the lender for the duration of the loan. The lender calculates your monthly repayments depending upon how the rate you have chosen is set. The monthly interest payments may vary dependent on whether the interest rate is fixed or variable. At the end of the loan period, the lender will expect the initial capital they lend you to be repaid in full by whatever means you have arranged.

Having decided on the loan repayment method, the borrower then needs to consider what kind of mortgage they want. The main options, some of which may or may not be available depending on the mortgage market and general economic conditions prevailing at the time, are described below.

A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME OR PROPERTY. YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. MOST FORMS OF BUY TO LET MORTGAGE ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.


Fixed Rate
Mortgage


The interest on the loan will neither rise nor fall for a pre-determined period of time. Although the monthly repayments will stay fixed, if interest rates fall, the you could potentially end up paying more than you would on another type of mortgage.



Standard Variable
Rate


The monthly mortgage repayments are based on the prevailing rates of interest the lender charges - not the Bank of England (BoE) base rate. In other words, it is entirely the lender’s decision on the rate of interest they charge the borrower.



Tracker
Mortgage


The interest rate applied to the mortgage repayment is linked directly to the Bank of England’s base rate and will rise and fall in line with that rate.



Offset
Mortgage


Where a mortgage borrower also has savings, by giving up the interest on those savings you can reduce the amount of interest they pay on their mortgage debt.



Buy To Let


Buy-to-let (BTL) mortgages are specifically for individuals who wish to buy residential property which they intend renting to tenants. Although a BTL mortgage is similar in a number of respects to a standard residential mortgage, there are some significant differences between the two.



Self Build
Mortgages


For those who want to build their own home, a conventional residential mortgage is not an option. Instead, the self-builder would need to apply for a self-build mortgage. Not every lender is active in the self build mortgage market and those that are, tend to charge a higher rate of interest for self build mortgages.