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Mortgage Hotline - Call Us 0117 313 7780

What is your mortgage for?

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Details sort by initial rateLenderInitial rate Rate type Overall cost for comparisonMax LTVProduct feeMonthly cost Enquire
Initial rate: 1.24%
Rate type: Tracker 2 years
Monthly cost: £395.59 per month
Max LTV: 60%
Product fee: £2114.00
Overall cost for comparison: 3.5% APRC
Barclays Bank logo 1.24% Tracker 2 years 3.5% APRC 60% £2114.00 £395.59 per month get quotes Call direct0117 313 7780 More details
Initial rate: 1.24%
Rate type: Tracker 2 years
Monthly cost: £391.71 per month
Max LTV: 60%
Product fee: £1159.00
Overall cost for comparison: 4.3% APRC
Platform logo 1.24% Tracker 2 years 4.3% APRC 60% £1159.00 £391.71 per month get quotes Call direct0117 313 7780 More details
Initial rate: 1.24%
Rate type: Fixed Jan-2020
Monthly cost: £391.71 per month
Max LTV: 60%
Product fee: £1634.00
Overall cost for comparison: 4.1% APRC
Yorkshire Bank logo 1.24% Fixed Jan-2020 4.1% APRC 60% £1634.00 £391.71 per month get quotes
Initial rate: 1.24%
Rate type: Tracker 2 years
Monthly cost: £391.72 per month
Max LTV: 60%
Product fee: £1061.00
Overall cost for comparison: 4.1% APRC
Skipton BS logo 1.24% Tracker 2 years 4.1% APRC 60% £1061.00 £391.72 per month get quotes Call direct0117 313 7780 More details
Initial rate: 1.25%
Rate type: Discount 2 years
Monthly cost: £392.18 per month
Max LTV: 80%
Product fee: £1374.00
Overall cost for comparison: 4.1% APRC
Vernon BS logo 1.25% Discount 2 years 4.1% APRC 80% £1374.00 £392.18 per month get quotes Call direct0117 313 7780 More details
Initial rate: 1.28%
Rate type: Discount 2 years
Monthly cost: £397.07 per month
Max LTV: 65%
Product fee: £2365.00
Overall cost for comparison: 4.2% APRC
Beverley BS logo 1.28% Discount 2 years 4.2% APRC 65% £2365.00 £397.07 per month get quotes Call direct0117 313 7780 More details
Initial rate: 1.29%
Rate type: Fixed Jan-2020
Monthly cost: £394.04 per month
Max LTV: 60%
Product fee: £1114.00
Overall cost for comparison: 3.4% APRC
Barclays Bank logo 1.29% Fixed Jan-2020 3.4% APRC 60% £1114.00 £394.04 per month get quotes Call direct0117 313 7780 More details
Initial rate: 1.29%
Rate type: Fixed Feb-2020
Monthly cost: £394.04 per month
Max LTV: 60%
Product fee: £1259.00
Overall cost for comparison: 4.3% APRC
Santander UK Plc logo 1.29% Fixed Feb-2020 4.3% APRC 60% £1259.00 £394.04 per month get quotes Call direct0117 313 7780 More details
Initial rate: 1.29%
Rate type: Fixed Feb-2020
Monthly cost: £394.04 per month
Max LTV: 60%
Product fee: £1259.00
Overall cost for comparison: 4.3% APRC
Santander UK Plc logo 1.29% Fixed Feb-2020 4.3% APRC 60% £1259.00 £394.04 per month get quotes Call direct0117 313 7780 More details
Initial rate: 1.29%
Rate type: Fixed Dec-2019
Monthly cost: £394.05 per month
Max LTV: 60%
Product fee: £1061.00
Overall cost for comparison: 4.2% APRC
Skipton BS logo 1.29% Fixed Dec-2019 4.2% APRC 60% £1061.00 £394.05 per month get quotes Call direct0117 313 7780 More details
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Representative Example:

A repayment mortgage of £120,000 payable over 28 years and 1 month initially on a fixed rate for 2 years at 1.99% and then on the lender current variable rate of 3.69% (variable) for the remaining 26 years and 1 month would require 24 monthly payments of £465.20 and 312 monthly payments of £565.39 and one final payment of £565.19.

 

The total amount payable would be £189,357.67 made up of the loan amount plus interest (£68,161.67), booking fee (£999), completion fee (£30) and valuation fee (£197).

 

In this example the overall cost for comparison is 3.7% APRC representative.

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT

250000 Mortgage

Our Mortgage Service - helping you make the right decision

"The essence of the Fair Mortgages service is professional independent mortgage and protection advice brought to you by a team of specialist advisers and experienced administration support".

As your mortgage is such an important transaction, good advice is imperative.

Right Bullets

Our independent mortgage broker service provides: 

  • FREE initial mortgage consultation
  • Access to exclusive mortgage deals not available on the high street
  • A dedicated mortgage adviser and case handler to deal with your mortgage from enquiry to completion

"Our mortgage team is committed to providing you with an excellent mortgage service". Adam Arnott, Head of Mortgages & Protection.

250000 Mortgage

If you’re looking at different £250,000 mortgages it is important to shop around different providers and as with any size mortgage to consider the different term lengths and interest rates available as this will affect the cost of your mortgage repayments. As well as considering other relevant charges such as any arrangement fees.

Getting a mortgage

The exact size of mortgage that would be available to an individual, couple or group will depend on their specific financial factors such as; how large of a deposit they have, their income, the type of mortgage they are interested in and their credit history.

Deposit

Borrowers are required to put down a deposit on a mortgage, the ratio between the size of the deposit and the amount borrowed is referred to as the ‘Loan to Value’ (LTV) of a mortgage.

There are different bands of LTV mortgage, and generally speaking the lower the size of the loan compared to the deposit the lower the interest rates are. If for example an individual wished to purchase a house with a market value of £250,000 using a 90% LTV mortgage they would need to put down a 10% deposit on the house. Meaning they would have paid £25,000 towards the property and have a 10% equity share.

Generally speaking residential mortgages are available up to a maximum LTV of 95% whereas buy to let mortgages tend to require at least 25%, although it may be possible to get a mortgage with a smaller deposit from some providers.

Affordability

Lenders will assess the affordability of their potential borrowers to assess if they can afford the mortgage. To do this they will assess the combined income of all of the applicants on the mortgage but also consider things such as their outgoings, existing credit commitments and their credit history. They will also carry out a ‘stress test’ to assess if an applicant could still afford their mortgage payment if rates were to rise in the future.

Types of mortgage

When looking at £250000 mortgages it may be wise to first decide whether a repayment or interest-only mortgage would be more suitable for specific borrowing needs:

  • Repayment: As the name would suggest, with this kind of mortgage the borrower’s monthly mortgage payment also repay an amount of the capital borrowed in addition to the interest accumulation, this means that by the end of the mortgage’s full-term the borrower will have completely repaid the mortgage.
  • Interest-Only: With this kind of mortgage the monthly payment only covers the interest that accrues on the loan, this means that at the end of the mortgage the borrower is required to repay the original amount borrowed in full. As such lenders usually have more rigorious requirements for their interest-only products, such as requiring applicants to have higher incomes than would be necessary with a repayment mortgage and to also show them with a detailed savings or investment plan for how they intend to raise the necessary repayment capital over the course of the mortgage, simply stating they intend to sell the property and rely on the increase in its value over time will not usually be sufficient.

Mortgage adviser

Using the services of an independent mortgage adviser may be beneficial to potential borrowers. Advisers that offer a whole-of-market service can use their professional knowledge of the industry to search across a range of providers to try and find the most suitable products for their clients and give them impartial advice.

To find out if Fair Mortgages could help you, you can fill in the online contact form or call directly on: 0117 313 7780

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