Mortgages
A mortgage is a loan that is secured on a property, and is also
known as a home loan. A mortgage is usually acquired from a lender
to buy residential property. However it is becoming increasingly
popular for existing homeowners to switch mortgage lenders without
moving home - this is known as remortgaging.
Mortgages are long term secured loans usually repaid over a
fixed period known as a mortgage term. Not all mortgages run over a
fixed term. Flexible mortgages allow the borrower to pay the
mortgage off early or in some cases late. With a flexible mortgage
the borrower may also be able to make early payments, take payment
holidays and even borrow back some of the home loan. This form of
mortgage is often beneficial to those whose income fluctuates from
month to month, or those who have varying expenses and may need to
reduce their mortgage outgoings in order to cover these.
The majority of borrowers will not require such features, and so
would be better off with a more standard form of mortgage, such as
an interest only mortgage or repayment mortgage. Within these types
there are further options of fixed rate mortgage, tracker mortgage
and capped rate variations, as well as deals with special
introductory rates. The options available to the borrower are numerous
and can be confusing at times, which is where we could help with the
following types of mortgages:
Adverse Credit,
Remortgage,
First Time Buyer,
Buy to Let Mortgage,
Flexible Mortgage, Capital Raising,
Commercial Mortgage,
Offset Mortgage.
The overall cost for comparison is 8.6% APR which relates to
Adverse Credit. The actual rate will depend upon your
circumstances. Ask for a personalised illustration.
Mortgage Helpline helps you to get the most suitable deal, with
the minimum of effort - use our
free enquiry service to have our
experts find the mortgage that meets your needs for you.
How do I choose a mortgage ?
With all these mortgage options available it can be difficult to
choose the right deal for your circumstances unless you are an
expert. An online mortgage resource is a good place to start. You
can compare the different mortgage lenders and brokers,
enquire online, and find out
what all these new available mortgage options are. Just use the
information bar on the left of the page.
Mortgages are now available for people wishing to buy to let,
people with adverse credit history, people who already own a home and want to switch
lenders and of course your average home movers and first time
buyers.
Our typical broker fee is £95, however it could be as much as 2% of the loan amount,
payable on application/completion. The precise amount will depend on your circumstances.
Enquire online and let an expert compare the market
Useful links:
Mortgage interest rates
explained
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