Mortgages Guides

A repayment mortgage, (capital repayment) is a mortgage where you make monthly payments which contribute towards the total amount borrowed and the interest payable

An Interest only mortgages require you to make monthly payments to the mortgage lender in order to pay off the interest on the amount borrowed.

An ISA mortgage is effectively an interest only mortgage with an additional investment plan in the form of an individual savings account (ISA).

An Endowment mortgage is an interest only mortgage with an additional savings plan in the form of an endowment policy.

A Pension mortgage is an interest only mortgage with an additional investment plan in the form of a personal pension.

All mortgage lenders now calculate how much that they will lend based pn affordability instead of income multiples like 4.5 times joint income or even 5 times single income.

Income multiples use to be used by lenders as one calculation in determining how much they are prepared to lend on mortgage or remortgage.

If you are a first-time buyer, no doubt you will have a lot of questions to ask. Should I go to a bank, a building society or a specialist lender?

Responsible mortgage lenders want to know that you can comfortably afford to manage any new borrowing, so they calculate a credit score that helps them to assess the chances that you will be able to repay what you owe

In the current economic climate, your credit rating matters more than ever. These top tips could help you to get the deals you need.

A credit score is an automated technique used by mortgage lenders to help them decide whether or not to offer you a mortgage.

If you’re renting, flat-sharing or living at home because you feel that you cannot afford to buy, then think again.

Co-buying really is a simple process, find someone you like that you feel you could live with and buy the home of your dreams together.

The types of mortgage scheme available in the market are varied but very important to understand your options.

With a fixed rate mortgage the monthly repayment amount is fixed for a specified period.

A variable rate mortgage is based on the lenders standard variable rate which will be linked to the Bank of England base rate.

A capped mortgage is similar to a fixed rate in that it will not rise above a pre-set rate, known as the cap

A Discounted Variable Rate Mortgage has an interest rate where a discount is applied to the lenders standard variable rate for a set period.

A Tracker rate mortgage has an interest rate set directly against the Band of England base rate.

A cash back mortgage is one where a cash lump sum is paid to the mortgage applicant on completion of the mortgage.

Flexible rate mortgage schemes allow you to overpay and underpay without a redemption penalties being charged.

Offset mortgages allow you to put all your money in one place - from your mortgage and loans to your savings and current account, giving you the flexibility to live your life differently.

In resent years the Buy to Let mortgage lenders have brought in restrictions and additional checks for portfolio landlords.

Limited company buy-to-let mortgages have gained popularity in recent years. They are simply a specialist type of mortgage that allow you to purchase through a company.

HMO buy to let is a property let out to more than 3 individual tenants , commonly know as a house of multiple occupation.

Bad Credit Mortgages are available if you are unable to take a standard mortgage with a high street lender due to credit problems.

5% LTV mortgages are where you must provide a deposit of 5% of the purchase price.

Shared ownership mortgages are used for part buy, part rent schemes commonly known as affordable housing.

Professional Mortgage is mortgage products designed specifically for professionals such ad doctors, dentists, accountants, solicitors, teachers, vets and pharmacists.

Lifetime Mortgage products are for people over 60 and a homeowner.

Buy to let mortgages are designed for those wanting a mortgage for the purpose of letting a property out to tenants.

Self Build Mortgage products are can now be a viable option for those wanting a low-cost home and willing to put in some hard work.

Council Right to buy mortgage schemes are ideal for you if you have lived in your council house for some time..

Mortgage protection insurance is an important part of your mortgage requirements. Your mortgage is one of the largest financial commitments you are likely to take.

Mortgage surveys are essential part of purchasing a property, though only a basic mortgage survey is required on the mortgage lenders behalf.