Archives: Mortgage

Self Build Mortgages

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. With a self-build mortgage, money is released in stages as the build progresses. Some lenders will lend you money to purchase land - typically 75% of the purchase price or value (whichever is lowest). After this, the money for the [...]
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Second Charge Loans

Second charge loans can be secured against residential or Buy to Let properties. They are provided by specialist lenders and are generally short-term loans secured against the property, but where the lender has a second call on the property if the borrower defaults. Second charges tend to be more expensive than ‘firsts’, but can still [...]
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Offset Mortgages

An offset mortgage enables you to use your savings to reduce your mortgage balance and the interest you pay on it. For example, if you borrowed £200,000, but had £30,000 in savings, you would only be paying interest on £170,000. Offset mortgages are generally more expensive than standard deals but can reduce your monthly payments, [...]
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Flexible Mortgages

Flexible mortgages recalculate the outstanding capital and interest (the amount you owe) on a daily basis. This allows you to make overpayments when you have money to spare, and see an immediate reduction in your loan. Some also allow you to make underpayments when finances are tight, which will increase the interest you have to [...]
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Buy to Let Mortgage

Buying additional property for the purpose of letting it to earn rental income can be risky and complicated since there is no guarantee that house prices will rise nor that rental income will be uninterrupted. That said, letting a second property to tenants could return respectable financial rewards over the longer term, but it's important [...]
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Remortgages

Some people switch mortgages because it will work out cheaper for them. For example, the introductory discounted interest rate may have finished with your current lender, and you might get a cheaper deal with another lender. Other people remortgage to consolidate their debts. It is worth noting that a remortgage isn’t always the most suitable [...]
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