Our Mortgage Service - helping you make the right decision
Special features of what we offer include:
- Whole of market service - we work with leading UK mortgage lenders
- Access to leading market mortgage rates
- Access to exclusive loan deals not available on high street
- Fast turnaround - speak to us today if you need to move quickly
- We have lenders who will take into account previous defaults and missed payments
- Looking to raise additional finance on top of your existing mortgage or buy to let mortgage? - we have access to a range of finance solutions
To compare your mortgage options call our mortgage team on 0117 313 7780 or fill in our call back form.
"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.
If you’re looking for a mortgage looking at a comparison of what is available to you can be a helpful in deciding which plan might be the right choice for you. To get a mortgages comparison you can use the Fair Mortgages comparison calculator at the top of this page to see what might be available to you.
To use the mortgages comparison calculator you just need to select what sort of mortgage you are interested in then fill in all the relevant details you can such as how much of a deposit you can put down, the value of the property etc. The calculator will then be able to generate for you a selection of mortgages from different providers that fit your criteria so you can compare and contrast their features to help you decide which you would prefer.
When comparing different mortgage finance options one of the first things you might want to decide is whether you want a repayment or interest-only mortgage:
Repayment mortgage – As the name suggests with this kind of mortgage you make a monthly repayment of your mortgage, this payment covers the interest that accrues on the loan and also repays a portion of the capital you owe the lender, at the end of your mortgage term you will therefore have repaid everything you owe the lender.
Interest only mortgage – Interest only mortgages generally have cheaper monthly payments, this is because what you pay to the lender would only be to cover the interest that has accumulated on the loan. Because during the mortgage term you do not pay back any of the loan when it is at the end of its term you need to repay the sum you originally borrowed in full. As this option poses a higher amount of risk to lender they tend to have stricter lending criteria for their interest only plans.
Many mortgages have what’s called an ‘introductory rate’ which is a fixed initial term in which the way the interest that accrues on your loan is calculated differently than it would be for the rest of your mortgage’s term. As there are a wide range of mortgage lenders available providing a diverse range of plans there is a choice in how your introductory interest is calculated how long the initial term will last for. At the end of the introductory period commonly the lender will switch to calculating the interest based on their Standard Variable Rate which is a interest rate specific to each lender which they can set and change as they want.
Types of introductory rate include:
- Fixed rate: A fixed rate mortgage has an introductory rate where the interest rate will stay the same each months, this means you know beforehand exactly what you will need to pay each month.
- Tracker: Tracker mortgages are linked to the Base Rate which is an interest rate set by the Bank of England, therefore any changes made to the base rate will change how much interest you need to pay each month. This means that you could be charged less or more interest depending on any changes made.
If you want to find out more about mortgages you can fill in the enquiry form to request a call back for a free initial conversation from our mortgages team or call directly on 0117 313 7780.