First Time Buyer
Buying your first home can be a daunting experience. From understanding all the steps in the homebuying process to learning the financial jargon involved with obtaining a mortgage, it’s good to have an expert by your side. We provide mortgage advice to first time buyers, making sure you have all the help you need to choose the right mortgage for your needs.
When you move home, you can transfer your current mortgage to the new address or take the opportunity to find a new deal, either by remortgaging with your existing lender or a different mortgage company. We can explain the pros and cons of each option in detail and advise you on which path we think might work best for you.
Remortgaging a property means switching your existing mortgage to a new deal or lender, using the same property as security. You might be looking for a better deal at the end of a fixed term, finance to buy a second home, make home improvements or consolidate debt. Whatever the reason, we have a deep knowledge and experience of the market to give you the best professional advice.
Consumer Buy To Let
Consumer buy-to-let mortgages are intended to help non-professional or ‘accidental’ landlords to buy a property for letting to tenants. They are regulated as residential mortgages and offer considerable consumer protection, albeit with additional lending criteria and affordability calculations. For details, please make an enquiry here.
Commercial Buy To Let
Commercial buy-to-let mortgages are not regulated by the Financial Conduct Authority and are a very different kettle of fish to the residential market. They are designed for professional landlords who operate their residential and/or commercial property portfolios as a business. If you need help with commercial financing, please get in touch.
A second charge mortgage relies on the equity you have built up in your home to be used as a security for a second mortgage on the same property. Sometimes used as an alternative to remortgaging, it’s a complex field that we would highly recommend getting expert advice on before you enter into any agreement.
Later Life Mortgages
If you are of retirement age and wish to take out a mortgage, there are now more choices than ever before. In order to be accepted for a mortgage, you will need to pass affordability criteria, meaning a good source of income (earned income, pensions or savings income) will be required. For more information, click here.
Retirement Interest Only Mortgages (RIO)
With a standard interest-only mortgage, only the interest is being repaid every month for a fixed period. With an RIO , there is no fixed term; instead the loan will be repaid when you sell the property, move into long-term care of pass away. If this or any other equity release schemes are of interest to you, please get in touch.