Our Mortgage Services

Please find below a list of the mortgage services we provide and a brief introduction to each product area. Our experienced mortgage adviser would be happy to discuss your requirements so please do contact us for an informal discussion to see how we might be able to help you.


Standard Variable Rate Mortgages

The monthly mortgage repayments are based on the prevailing rates of interest the lender charges - not the Bank of England (BoE) base rate. In other words, it is entirely the lender’s decision on the rate of interest they charge the borrower.


First Time Buyer

The prospect of buying your first home could be both daunting and confusing. Our aim is to guide you through the process from start to finish so that you understand exactly what the purchase entails and how much it will cost.

A significant advantage to being a first-time buyer is that there is no chain, making a first-time buyer more appealing to sellers. As we have access to many lenders, we are well-placed to assist you


Repayment Methods for your Mortgage

Capital and Interest Mortgages

An arrangement where part of the monthly repayment is used to pay the interest and the remainder is used to reduce the original amount of the loan. In the early years of the mortgage, most of the monthly repayment goes towards paying the interest; in later years, the proportion of the payment that is interest reduces (as more of the capital is repaid) and more of the repayment is available to reduce the loan amount.

Interest-only Mortgages

Interest only mortgages are a type of mortgage where the regular payments only cover the interest that is due. The full capital amount remains outstanding during the mortgage term and is repaid in one lump sum at the end of the term.

Lenders require evidence that a customer will have in place a clear credible repayment strategy and that the repayment strategy has the potential to repay the capital borrowed.

Repayment strategies may include investment product(s), pension(s), periodic repayment of capital from irregular sources of income (i.e. bonuses), the sale of another property or other land or other acceptable methods which meet lending criteria. It will not normally be appropriate to use deposit accounts as a repayment strategy as the rate of interest charged on the mortgage is normally greater than the interest earned on the deposit.

This means that the mortgage payments made each month to the lender will be lower than those of a repayment mortgage for a similar loan and term. However, borrowers must remember that the cost of their repayment vehicle/strategy needs to be taken into account when calculating the overall costs of the mortgage arrangement and especially when comparing those costs to the cost of borrowing on a capital & interest basis.

Having decided on the loan repayment method, the borrower then needs to consider what kind of mortgage they want. The main options, some of which may or may not be available depending on the mortgage market and general economic conditions prevailing at the time, are described below.


Tracker Mortgages

The interest rate applied to the mortgage repayment is linked directly to the Bank of England’s base rate and will rise and fall in line with that rate.


Buy-to-let Mortgages

Buy-to-let (BTL) mortgages are specifically for individuals who wish to buy residential property which they intend renting to tenants. Although a BTL mortgage is similar in a number of respects to a standard residential mortgage, there are some significant differences between the two.

MOST BUY TO LET MORTGAGES ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.

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Address

35 Hillview Close, Purley, Surrey, CR8 1AU

Phone

T: 0208 6452565

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