Moving Home Advice
The process of moving house is one thing, but it’s always made far easier if you actually know the mortgage types that are available to you before you make your final choice. Check out the options available for you below before you go ahead.
An interest only mortgage is an arrangement that allows you to just pay the interest charged each month over the term of the loan. You must repay the mortgage outstanding back in full at the end of the term
With this type of mortgage, your interest rate is fixed and guaranteed to stay the same for the duration of the fixed rate. It helps with budget planning.
These are standard variable rate mortgages. The mortgage lender gets to decide whatever the rate is. If the rate increases so does your mortgage payment, if it decreases your mortgage payment reduces. These rates tend not to have any early repayment charges.
These follow the Bank of England base rate, they are fixed at a percentage higher or lower than the Bank of England base rate for an initial period. If the Bank of England base rate increases so does your mortgage payments, if it decreases your payments will reduce.
Ready to apply for your mortgage?
We charge a combination of an initial fee of £250 on application and retain the commission received from the lender. Think carefully before securing other debts against your home. Your property may be repossessed if you do not keep up repayments on your mortgage.