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Mortgages

Mortgagesadmin2019-11-19T13:28:45+00:00

Buying a home is one of the biggest and most expensive events in a person’s life. However, property is very expensive, so it is very rare that someone can afford to buy a home outright. They need a mortgage.

Whether you’re a first time buyer, or looking to move house, the information linked below will help you on the path to becoming a home owner.

What is a Mortgage?

What is a Mortgage?

Homes are expensive. Even the smallest tend to reach past the £100,000 threshold, and a lot of people simply can’t afford this in absolute terms. In order to buy a home then, people usually have to take out a very large loan from a lender.

Getting the Right Deal

Getting the Right Deal

When looking for a mortgage, it is important for you to seek professional advice, which can help tailor a mortgage to your individual situation and circumstances.

Rent or Buy

Mortagage Affordability

Before becoming a home owner, you need to make sure that you are able to afford it.

Mortgage Fees & Costs

Mortgage Fees & Costs

Mortgages are one of the biggest outgoings a person or family will have, but as well as the ongoing payments and interest that needs to be paid, there are upfront costs that need to be considered.

What to Look for?

What to Look for?

While the lenders will be scrutinising borrowers, those who are looking to borrow also need to make sure that they scrutinise the mortgages that they are going to buy into.

Mortgage Requirements

Mortgage Requirements

When applying for a mortgage, you will have to set up a meeting and go to the bank to discuss your situation and the deal you want to arrange with them.

Repayment Options

Repayment Options

Once you’ve secured a mortgage and paid the fees that are needed during set up, you can begin to pay off the mortgage itself.

How Lenders Assess Borrowers?

How Lenders Assess Borrowers?

Each mortgage is a risk for the lender, and they have to assess that risk and see if it is worth lending out the money.

Types of Mortgage

Types of Mortgage

There are different types of mortgages, classified by the way the interest on them is charged, or how the interest rate changes over time. Each has its own benefits and negatives. You will have to shop around, consider all types of mortgages, see what is on offer, and work out which one benefits you the most.

Variable rate mortgage

Variable Rate Mortgage

discount buy to let

Discount Mortgage

Fixed Rate Mortgage

Fixed Rate Mortgage

Right to buy mortgage discounts

Capped Rate Mortgage

Tracker Mortgage

Tracker Mortgage

Offset Mortgage

Offset Mortgage

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