We advise our clients and make recommendations on an extensive range of mortgage products, as well as guiding them through the house-buying process to ensure a smooth transaction.
Buying your first home is an exciting moment but, with so many factors to consider, this can be very daunting. This what we're here for.
Whether you're moving to your dream home or simply downsizing, getting the right mortgage is very important. We will discuss all your options and make the right recommendation based on your goals and your current circumstances.
As the name implies, fixed rate mortgages have interest rates fixed for a period which means your monthly repayments stay the same. This is very beneficial to mortgagers who want stability of their monthly repayments for the entire duration of the fixed rate period.
Like a variable rate mortgage, your monthly payments can go up or down. However, you will get a discount on the lender's Standard Variable Rate (SVR) for a set period of time, after which you'll switch to the full SVR. You may have to pay penalty for overpayment or early repayment.
Your monthly payment fluctuates in line with a Standard Variable Rate(SVR) which is set by the lender. You probably won't get penalised if you decide to change lenders and you may also be able to make additional payments without penalty too. Many lenders won't offer their Standard Variable Rate to new borrowers.
Tracker mortgages are a type of variable rate mortgage which tracks the bank of England's base rate. Tracker rates are usually the bank of England's base rate plus or minus a certain percentage determined by the mortgage lender.
When you take out an offset mortgage, you are able to use your savings balance to reduce your mortgage balance and the interest you pay on it. Example, if you borrow £100,000 and you have £20,000 in savings, you'll only be paying interest on £80,000.
This type of mortgage allows you to overpay, underpay or even take payment holidays. Any unpaid interest will be added to the outstanding mortgage and any overpayment will reduce it. Some have the facility to draw down additional funds to an agreed limit.
With this type of mortgage, you need a deposit of at least 5% of the property's purchase price and the lender offers you up to 95% mortgage.
As the name suggests, self build mortgage is a loan for you to build a property by yourself from the scratch.
Adverse credit is the term used to describe people who have bad credit rating due to a single or multiple adverse credit events. Some mortgages lenders may discriminate against such people but the good news is, there are lenders who specialise in adverse credits so get in touch and let us help you.
If you're looking to buy or remortgage a buy-to-let property, we can advise you on the right product.
Some buy to let mortgages are not regulated by the Financial Conduct Authority.
Switching your mortgage to a new deal could be one of the best money-saving moves you ever make. With rates at a record low, there may never be a better time to remortgage.
Some buy to let mortgages are not regulated by the Financial Conduct Authority
Advanced Mortgages Ltd is an appointed representative of Openwork Limited, which is authorised and regulated by the Financial Conduct Authority.
Advanced Mortgages Ltd, 15 Fortuna Drive, PE2 8GG. Registered Number 12198598.