Mortgages Made Easy
If you are looking to buy a new house or your current mortgage deal is about to expire - now is the time to compare mortgage rates and get the best deal for you. Our mortgage advisors are here to assist you in comparing the best rates available for your circumstances.
Not only will they compare the top providers, they will also assist in switching or setting up your new mortgage deal.
Why Use A Mortgage Advisor?
Our advisors have exceptional experience and will offer you the best advice for your needs. They work from a panel of the best providers in the UK and are not tied to any mortgage lender therefore giving you independent and unbiased advice.
Make sure you are not paying more than what you need to - start your free mortgage review today.
Frequently asked questions – Mortgages
Feel free to get in contact if you have any questions. Here are the most asked questions and an introduction into what mortgages are and how they work.
What are the different types of mortgages?
There are two types of mortgages - fixed rate and variable rate mortgages.
A fixed rate mortgage is where the interest rate is fixed for a set period of time. This mean that your monthly payments remain the same each month during that set time. When the fixed term expires your mortgage will automatically switch to a variable rate.
A variable rate mortgage is where the interest rates can change throughout your mortgage term which also means that your monthly payment can also change. The lender will set a standard variable rate and the changes will normally be in line with the Bank of England’s base rate. Although, it is not uncommon for lenders to change the rate even though the Bank of England’s remains the same.
What is the difference between an interest only and interest and capital repayment option?
An interest only repayment option is when you will pay only the interest of the mortgage back. The benefits of an interest only mortgage is the monthly repayments will be lower, however you will still owe the same amount at the end of the term and the capital of the mortgage will not be paid. To own the property fully you will need to make other arrangements such as a savings plan or pension withdrawal.
A capital repayment option is when the monthly payments reduce the capital you borrow from lender as well as the interest. This will mean that your outstanding mortgage balance will get smaller every month and your mortgage will be repaid at the end of the term.