With access to 1000's of mortgage products and schemes usually available on the market, finding the right one to suit you can be a bit daunting. We will help you make the right choice!
To get you started, here are a few of the most popular schemes with a brief description of how they work…

FIXED RATE – A fixed rate mortgage means that the interest that you pay will stay the same for a specified period regardless of what happens to your lenders variable rate or the Bank of England Base Rate. Most people choose a fixed period of between 2 and 5 years, however longer term fixed rates are now available. A fixed rate is ideal if you want to budget your monthly expenditure and can give you peace of mind. They are particularly popular with First Time Buyers.

DISCOUNTED RATE – This type of mortgage product offers you a discount from your mortgage lenders Standard Variable Rate (SVR) for a given period, again usually 2 to 5 years. Discounted rate mortgages are variable and can fluctuate in line with the SVR on a monthly basis. If you are looking for the lowest possible rate in the short term this may be a good product for you, however you need to be prepared for the risk that your rate could increase as well as decrease. Therefore, if you are on a tight budget and cannot afford for your payments to increase, this is definitely not for you!

BASE RATE TRACKER – These are similar to discounted rate mortgages in that they are variable, however they “track” the Bank of England Base Rate, usually by a certain percentage above. The Bank of England review the base rate on a monthly basis. The tracker period is usually set for 2 to 3 years, however they can be applied for the length of the mortgage term if you are prepared to accept a slightly higher interest rate.

CAPPED RATE – Your lender will set an upper limit at which your rate will not go beyond. The benefit of this type of product is that your rate can still go down as low as possible, however it can only go up to the pre-determined “cap”. Capped rates do not usually offer the lowest rates available.

FLEXIBLE MORTGAGE – This is a relatively new concept. The idea of a flexible mortgage is that by making regular or lump sum overpayments, the interest saved on the mortgage over the term can be significant. Most lenders will also let you to draw down additional amounts of money as and when required as well as payment holidays. With a flexible mortgage, you can usually choose from either a fixed, discounted or tracker rate and they rarely have any early repayment charges.

We normally charge a fee for mortgage advice. The amount will depend on your circumstances. A typical fee would be £199

YOUR HOME MAY BE REPOSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE