Repayment Methods
Capital & Interest
For shorter term borrowings and for those who do not wish to expose themselves to too many financial risks this option may be more suitable.
The monthly payment is calculated to cover interest and capital to the lender and provided you maintain payments for the entire term of the mortgage you are guaranteed to repay the loan.
Investment Backed
The borrower pays interest only to the lender during the term of the mortgage and the mortgage is repaid via a “vehicle” which is generally established at the outset. The “vehicle” could be an endowment, an ISA or a pension. These vehicles all carry some degree of financial risk and will not suit everyone. On the other hand some offer tax advantages and are portable. Again it is essential that full advice is taken.
Buy to Let Mortgages
One of the fastest growing areas in the mortgage market, more and more lenders are providing buy to let mortgages and as a result the deals are becoming increasingly competitive. We are experienced in this field and can talk through your requirements.
Poor Credit
Again this field has become more competitive over the last few years and although a poor credit history may mean that you will not have access to the entire market, it by no means precludes you from obtaining a mortgage.
We would be happy to discuss your situation in total confidence and source the best possible rate.
Re Mortgaging
It may be that you are able to save money by simply switching from one lender to another. Of course this depends on several factors and of course it is always worth comparing what your existing lender would offer.
Protection
When you take any mortgage is it important that you consider what is needed to protect against death or critical illness to repay the full loan.
Should illness or unemployment occur, Payment Protection can cover monthly outgoings. For home owners buildings and contents insurance is a must. Ask about our additional free guide entitled Life Assurance and Protection.
