Taking the first step onto the property ladder can be a daunting experience, so using the expertise of our independent mortgage advisers can really help to give you peace of mind. We will independently search with a whole of market approach to find the lender that best suits your specific needs. An adviser can offer both experience and expertise when it comes to finding the right mortgage deal, and we understand how to best position you to the lender, as some will have specific criteria you must meet. Our in-house support team will handle the mortgage paperwork, giving you the freedom to focus on finding your perfect home.

Homemovers-whether you are looking for a bigger home, relocating or downsizing, A home mover mortgage is no different to a standard mortgage-it is simply the process of getting a new mortgage when you move home. Some mortgage are “portable” which means you can take your existing mortgage to your new home, other are not and may require you to look for an alternative option. Your current lender may not allow you to borrow additional funds for your intended purchase however our experienced team of Advisers will guide you through the process.

This is a mortgage in which you repay both the capital and the interest together in fixed instalments over an agreed period of time referred to as “the term”. In the early years, your repayments are mainly interest with only a small amount reducing the balance of the loan. However, as the term progresses, less of the payment is interest and the amount of capital you repay for each instalment increases. The main thing is that, as long as you keep up your repayments, your entire mortgage will be repaid at the end of the term.

With an interest-only mortgage, you pay the interest due but none of the amount you have borrowed. While your repayments will be less than with an equivalent-sized repayment mortgage, at the end of the term you still owe the original amount that you borrowed. The remaining capital will be repaid under the conditions outlined by the mortgage lender. Usually, you will specify an investment or other assets that you will use to repay the loan at the end of the term. This introduces a level of risk, as you must ensure the investment is worth enough to repay the loan at the end of the mortgage term. With both means of repayment, the lender has the title of the property as security, and your home may be repossessed if you don’t keep up repayments on your mortgage.

The interest you are charged will stay the same throughout the period of the deal, typically one to five years, although ten-year fixed rates and longer are becoming more common. A fixed-rate mortgage will give you the peace of mind of knowing exactly how much your mortgage is going to cost you for a pre-agreed period of time. However, if interest rates fall, you will continue to pay the fixed rate agreed until the end of your rate period, and would face an early repayment charge if you wanted to remortage earlier to take advantage of them.

Your interest rate can change at any time. This means your payments can both rise or fall if interest rates change. There are different types of variable rate mortgages;

Standard variable rate (SVR)

Standard variable rate is the term used by lenders to express the rate of interest they use for lending. It is common practice for most borrowers to select a fixed or variable rate deal at the outset, before being put on the SVR when the deal ends. Each lender will set its own standard variable rate, which can vary greatly. It’s worth understanding a lender’s SVR and comparing it to others, whichever deal you choose.
Lenders can change their SVR at any time, although it is more likely to change after a rise or fall in the base rate set by the Bank of England. The lender can decide whether to increase, or decrease, the rate by more or less than the corresponding rate set by the Bank of England. Our Independent Mortgage Advisers are happy to work with you and source the best deals available on the run up to your current deal ending to ensure you do not fall onto a SVR that more expensive and unsuited to your current circumstances.

Tracker rate

The interest rate paid on a tracker mortgage, as the name suggests, will “track” the changes to the base rate set by the Bank of England. However, the tracker rate will likely be a fixed amount above the set base rate. This will mean that your mortgage payments will increase or decrease accordingly.

Discounted rate

This is similar to a tracker rate mortgage, but the rate is a discount to the lender’s standard variable rate (SVR). You will often be offered a set percentage below the lender’s standard variable rate for a fixed term, for example two or three years. If the lender’s SVR changes during this time, so will your interest rate. The same risks and potential benefits apply to the tracker rate; however, you must remember that the lender does not need to change the standard variable rate when the Bank of England base rate changes.

Capped rate

This is a variable rate with an upper limit, set at which the rate will not increase further even if the interest rate is increased. The rate that you pay will move in line with the Bank of England base rate, or the lender’s standard variable rate, but it will not rise above the capped rate during the term. This can be particularly useful for borrowers who feel interest rates may fall but would be significantly impacted if rates were to rise above a particular level. Another term worth knowing about is a “collared” rate, which sets a lower limit below which interest rates paid wouldn’t fall, irrespective of whether the standard variable rate or Bank of England base rate fell further. Whilst popular in years gone by, they are not widely available currently.

A re-mortgage happens when you either come to the end of your mortgage deal, you want to borrow more money, or you want to switch to a more competitive lender. Our Independent Mortgage Advisers are able to search the whole of the market for competitive rates and the right mortgage solution for you.

By being independent, we’re not limited to a restricted list of lenders, so we can search for the best possible deal that matches your specific criteria. Once a suitable offer has been found, we’ll manage and oversee your application for you from start to finish, so you don’t have to worry about the paperwork. We offer a truly holistic service, meaning we can review your mortgage to ensure it remains suitable for your needs.

Buy-to-let refers to a property you own but do not live in, mainly as an investment. Instead, this property is rented out to tenants.

There are many advantages and disadvantages to consider whether you are a First Time Landlord or building up your Property Investment Portfolio but, we can use our experience and expertise to help you navigate the market and search for the best possible deals to suit you.

If you are planning to purchase a new building, or wish to release equity from your existing one, we can explore a range of commercial mortgages from across the market, finding the best possible option for you and your business.

Purchasing a commercial property can be a big step, and you need to be certain on the maximum amount your business could commit to paying. If you miss repayments, your business premises could be at risk of repossession.

If your home has increased in value since you purchased it, you may be able to borrow more money from your mortgage lender. This could be for many reasons, for example home improvements, the deposit on a second home, or to repay and consolidate debts.

If you are thinking about increasing your mortgage, also known as a further advance, you must determine whether you will be able to afford the additional monthly payments, as the money that you take out will be secured against your home.

Securing a further advance has the advantage that interest rates may be more competitive than other forms of borrowing. However, if you are considering capital raising or the repayment of debt, remember that the loan is secured on your home, leaving it at risk if you fail to keep up repayments.

Alternatively, unsecured options may be better and should be considered before committing to a further advance or other secured loan. Remember, whilst the interest rate may be higher with unsecured options, the lender has no security attached and your inability to repay would unlikely result in the loss of your property.

You should speak to an independent financial adviser about the best solution for your financial needs, and when a further advance is suitable or not.

Your mortgage is a loan secured against your property, meaning if you can’t keep up with repayments, your home could be repossessed. To help mitigate this possibility, it is important to consider protection when taking out your mortgage, providing financial stability should your circumstances change. To learn more, visit our protection planning section.