Mortgage brokers and lenders
As fun as it is searching for a house to buy, it is a time-consuming process – you may not have enough time finding the best mortgage!
We have a good working relationship with some carefully selected mortgage brokers that have an excellent track record of finding our clients the best mortgages for them.
Which Mortgage suits you best?
Variable rate mortgage: A mortgage where the interest rate can change to better reflect the market conditions.
Fixed rate mortgage: A mortgage where the interest rate does not change for the duration of the loan term.
Tracker rate mortgage: A type of variable rate mortgage that “tracks” the movements of another rate and adjusts accordingly. The most common tracked rate is the Bank of England Base Rate.
Offset mortgage: With this, you can link your mortgage to your savings. Your savings balance is used to reduce the interest rate on your loan. Your savings are then “offset” against your loan amount and you only pay interest on your mortgage balance minus your savings balance.
Sharia-Law Compliant Home Purchases: Sharia-Law compliant home purchase plans help you to buy your dream home in a way not involving the paying of interest.
Typical mortgage plans run for 25 years but the term can be shorter or longer. The loan is ‘secured’ against the value of your home until it’s paid off.
If you can’t keep up your repayments the lender can repossess (take back) your home and sell it to get their money back.
You can apply for a mortgage directly from a bank or building society, also use a mortgage broker or independent financial adviser (IFA) who can compare different mortgages on the market.
The lender or mortgage broker will begin a full ‘fact find’ and a detailed affordability assessment, for which you’ll need to provide evidence of your income and specific expenditure, and ‘stress tests’ of your finances.
Get in touch with us below and our mortgage advisors will contact you and help you finance your dream home: