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Mortgages

Mortgages (Residential)

  • Free Initial Consultation
  • Free Valuation
  • Whole of Market Solutions
  • Free Quote Comparisons
  • Fixed and Variable Mortgages
  • Mortgages Protection Advice
  • No Upfront Cost

Equity Release
(Lifetime Mortgages)

  • Free Initial Consultation
  • Free Valuation
  • Whole of Market Solutions
  • Free Quote Comparisons
  • Tax Free Lump Sum or monthly income
  • No Upfront Cost
  • Online Mobile Access to your advisor
  • Mortgages Protection Advice

Remortgaging

  • Free Initial Consultation
  • Free Valuation
  • Whole of Market Solutions
  • Free Quote Comparisons
  • No Upfront Cost
  • Online Mobile Access to your advisor
  • Mortgages Protection Advice

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Our Advice Process

Frequently Asked Questions

What are the pros and cons of fixed-rate mortgages?

Fixed-rate mortgages offer borrowers the stability of predictable monthly payments and protection against interest rate fluctuations during the fixed-rate period, typically ranging from two to ten years. This can be particularly advantageous during periods of rising interest rates, as borrowers can lock in a favorable interest rate and budget with confidence knowing that their mortgage payments will remain constant. However, fixed-rate mortgages may have higher initial interest rates compared to variable-rate mortgages, and borrowers may miss out on potential savings if interest rates decrease during the fixed-rate period. Additionally, fixed-rate mortgages may come with early repayment charges or exit fees if the borrower decides to repay or refinance the mortgage before the end of the fixed-rate period.

Variable-rate mortgages offer borrowers the flexibility of interest rates that can fluctuate over time, typically in line with changes in the Bank of England base rate or the lender’s standard variable rate (SVR). This can result in lower initial interest rates compared to fixed-rate mortgages, potentially saving borrowers money on their mortgage payments, especially during periods of low-interest rates. Variable-rate mortgages may also offer more flexibility in terms of repayment options and early repayment without incurring penalties. However, variable-rate mortgages expose borrowers to the risk of interest rate increases, which can lead to higher mortgage payments and financial strain, particularly for borrowers on a tight budget or with limited tolerance for payment fluctuations.
Deciding between a fixed-rate or variable-rate mortgage depends on various factors, including your financial circumstances, risk tolerance, and outlook on interest rates. Fixed-rate mortgages offer the stability of predictable monthly payments and protection against interest rate increases during the fixed-rate period, making them suitable for borrowers who value certainty and want to lock in a favorable interest rate. Variable-rate mortgages, on the other hand, offer the potential for lower initial interest rates and flexibility in repayment options, but come with the risk of payment fluctuations if interest rates rise. Ultimately, the decision between a fixed-rate or variable-rate mortgage depends on your individual preferences, financial goals, and comfort level with interest rate uncertainty. It’s essential to weigh the pros and cons of each option carefully and seek advice from a mortgage advisor or financial professional to determine the most suitable mortgage product for your needs.
The amount of deposit you need for a mortgage depends on various factors, including the purchase price of the property, the lender’s requirements, and your financial circumstances. In the UK, most mortgage lenders typically require a minimum deposit of 5% to 20% of the property’s purchase price, although some lenders may offer mortgages with higher loan-to-value ratios (LTVs) for borrowers with excellent credit and financial stability. The size of your deposit can affect the interest rate you’re offered, with larger deposits generally resulting in lower mortgage rates and monthly payments. It’s essential to save for a deposit and plan ahead to ensure you have enough funds to cover the deposit, as well as other upfront costs such as legal fees, survey fees, and stamp duty. You can use online mortgage calculators or consult with a mortgage advisor to estimate how much deposit you’ll need based on the property price and your borrowing capacity.
Yes, it is possible for expatriates to get a mortgage in the UK, although the process may be more challenging compared to resident borrowers and may vary depending on factors such as your residency status, income source, credit history, and the lender’s criteria. Many UK mortgage lenders offer mortgage products specifically designed for expatriates, allowing non-UK residents to purchase property in the UK or refinance existing properties. Expatriate mortgages typically require larger deposits and may have higher interest rates compared to standard residential mortgages. It’s essential to seek advice from a mortgage advisor or specialist lender who understands the unique needs and challenges faced by expatriate borrowers and can help you navigate the mortgage application process effectively.
A current account mortgage is a type of mortgage product that combines a mortgage loan with a current account (checking account) in a single financial product. With a current account mortgage, the borrower’s mortgage balance is offset against the funds held in their current account, reducing the amount of interest charged on the mortgage balance. Borrowers can use their current account to deposit their income, pay bills, and make transactions as usual, while the balance in the current account effectively reduces the outstanding mortgage debt and interest costs. Current account mortgages offer potential interest savings over the life of the mortgage and may offer flexibility in managing finances and making additional mortgage payments. However, they require careful budgeting and financial discipline to ensure that the current account balance is sufficient to offset the mortgage debt effectively.
An offset mortgage is a type of mortgage product that links the borrower’s mortgage loan to their savings, current accounts, or other eligible accounts held with the same lender. With an offset mortgage, the balance of the borrower’s linked accounts is offset against the outstanding mortgage debt, reducing the amount of interest charged on the mortgage balance. Instead of earning interest on their savings, borrowers effectively “offset” the interest on their mortgage, potentially saving money on interest costs and shortening the term of the mortgage. Offset mortgages offer flexibility in managing finances and making additional mortgage payments without penalty, as borrowers can access their savings at any time. However, offset mortgages may have higher interest rates compared to standard mortgages, and borrowers must maintain sufficient balances in their linked accounts to maximize the offsetting benefits effectively.

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