Mortgage Products

There are many different types of mortgages from over 100 lenders in the UK. To find out more about any product please click the link to the right for a definition and product information. If you have any questions on any of the products or you just want to find out the best mortgage rate for you then please complete the form to get in contact with a qualified mortgage advisor,

Mortgage Products

With a tracker mortgage the interest rate tracks the Bank of England base
rate at a set margin above or below it. Such a deal can last for as little
as one year, or as long as the total life of the loan. At its end it is
usual to be automatically transferred on the lender’s standard variable
rate (SVR).
The Government has introduced a Funding for Lending scheme which is designed
specifically to help first-time buyers get on that important first rung of
the property ladder and there are a whole range of first-time buyer
mortgages available at all the leading lenders.
A buy-to-let mortgage is a loan that is used to purchase property with a
view to letting it out. It is typically interest only and available up to 75
per cent vale of the investment property. A single buy to let loan may be
used to purchase more than one property.
With a fixed rate mortgage, the interest rate stays the same for a set
period of time, so that for every month during this period, your mortgage
repayments will remain the same. This is in contrast to a variable rate
mortgage, which will go up or down.
A standard variable rate mortgage (SVR) is a lender’s ‘default’ rate –
without any limited-term deals or discounts attached. A lender can raise or
lower its SVR at any time – and as a borrower you have no control over what
happens to it.
Equity release offers a way to release money tied up in your home that you
might need to fund your lifestyle later in life. Generally a cash free lump
sum is released from your home and a lifetime mortgage is taken out against
the amount released.
With an offset mortgage the money in your savings and current accounts are
used to reduce the mortgage balance on which you are charged interest. You
can therefore reduce your monthly mortgage payments or your mortgage term
whilst still having instant access to your savings.

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