Mortgages
Whether you’re looking for a mortgage on a new home, or a remortgage to raise money against the value of your existing home, our Mortgage Team will guide you every step of the way.
When you’re making such a huge financial commitment, it’s important you get expert mortgage advice. Our Mortgage Team can help if you are,
- First-time buyer
- Second / subsequent home buyer
- Seeking a remortgage
- Looking to purchase a Buy to Let property
YOUR PROPERTY 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.
First time Buyer
People buying their first home often have specific needs when it comes to finding a mortgage. A range of mortgages exists specifically for this market sector
Help to Buy
Help to Buy is a government-backed scheme which aims to help first time buyers onto the property market. Help to Buy provides eligible buyers with an an equity loan (also known as shared equity) of up to 20% of the value of a new build home. The government provides the 20% loan so the buyer only needs to raise a 5% deposit, with a 75% mortgage making up the rest
Right to Buy
A Right to Buy mortgage allows you to buy your council house at a discounted price if you have been a council tenant for three years or more.
Re-mortgage
Re-mortgaging is the process of switching your existing mortgage to a new deal, using the same property as security. You can remortgage with the same lender or a different provider – you’re not moving home and your new mortgage will still be secured against your existing property.
Buy to Let
These types of mortgages are designed for property investors and private landlords, who do not intend to live in the purchased property but will let property to tenants. Some buy to let mortgages are not regulated by the Financial Conduct Authority
Adverse Credit
Bad Credit Mortgages generally is a term used for clients with missed payments, a CCJ, IVA, Debt Management Plan or Bankruptcy
Shared Ownership
Shared ownership, also known as ‘part buy part rent’, is a type of mortgage that gives first-time buyers the chance to buy a share in a new build property. You can take out a mortgage for the share you own (usually between 25% and 75%), while paying rent on the rest to a housing association
Self Build Mortgages
If you're planning to build your own home, a conventional mortgage won't be right for you. Instead, you'll need to apply for a specialist self-build mortgage
Equity Release
Equity release schemes allow you to access your property's value for more cash in retirement. You will need to take legal advice before releasing equity from your home as Lifetime Mortgages and Home Reversion plans are not right for everyone. This is a referral service.
A lifetime mortgage is not suitable for everyone and may affect your entitlement to means tested benefits, so it is important to seek financial advice before taking any action. If you are considering releasing equity from your home, you should consider all options available before equity release.
The interest that may be accrued over the long term with a Lifetime Mortgage, may mean it is not the cheapest solution. As interest is charged on both the original loan and the interest that has been added, the amount you owe will increase over time, reducing the equity left in your home and the value of any inheritance, potentially to nothing.
Although the final decision is yours, you are encouraged to discuss your plans with your family and beneficiaries, as a Lifetime Mortgage could have an impact on any potential inheritance. We would also encourage you to invite them to join any meetings with your Financial Adviser so they can ask questions and join in the decision, as we believe it is better to discuss your decision with them before you go ahead. This is a referral service.
Mortgage Cover
Mortgage life insurance – also referred to as mortgage protection – is a type of insurance that pays out if you die before you finish paying your mortgage