Mortgages

If you are purchasing a freehold property you will need to arrange building insurance to comply with the mortgage conditions. There is no requirement to arrange any life cover however it is advisable to talk through your circumstances to ensure you have adequate cover in place to protect you and your family. Our advisers have…

Interest is calculated on the outstanding debt either daily, monthly or annually. If you were to make a payment to your mortgage to reduce the debt owed and the mortgage is calculated daily, you would then start to see reduced interest being charged immediately.

The type of mortgage deal you are on will determine if a rate rise effects your mortgage payment straight away. If your are on a tracker or variable your monthly payments will generally increase immediately. If you are on a fixed mortgage then the rate rise will have no impact on you until the end…

No one knows when interest rates will rise, however if you are concerned that they may rise and this may increase your mortgage payments to more than you would like, you could potentially be protected from this with a fixed rate mortgage. Speak to one of our advisers today to discuss your options.

Most mortgage lenders will allow you to increase your mortgage for a variety of reasons providing you meet their requirements.The amount and cost of the new borrowing will depend on your current loan to value as well as your income and commitments.

Most lenders will allow you to move your mortgage to a new home providing that you and the new property meet their requirements. To discuss your circumstance in more detail talk to one of our advisers today.

Lenders criteria for the self employed can vary from lender to lender drastically. From the length of time you have been self employed, what income they consider towards your mortgage and what proof they will require for this will be different for every lender. It is vital that before you submit your application you know…

Before applying for a mortgage it is a good idea to understand what has been reported to credit reference agencies about you. If you find you have had some adverse credit, such as missed payments, a CCJ or defaults, you may still be able to find a mortgage lender. Whilst most high street lenders will…

You can remortgage at any point, however your existing lender may charge you to redeem your mortgage.To discuss your circumstance in more detail and find out if remortgaging is right for you, talk to one of our advisers.

The right mortgage term for you depends on your individual circumstances. Mortgage terms can vary between 5 – 40 years, although the majority of lenders will want the mortgage to be repaid before retirement and usually by a specific age, such as 75. The shorter the mortgage term, the less interest you will pay in…