Our Mortgage Service
Getting a mortgage can bring with it a range of complexities. Our mortgage service offers:
- Whole of market service - we work with most UK providers
- Access to leading market mortgage rates
- Access to exclusive mortgage deals not available on high street
- Fast turnaround - speak to us today if you need to move quickly
- We have mortgage providers who will take into account previous credit issues
- Looking to raise additional finance on top of your existing mortgage or buy to let mortgage? - we have access to a range of innovative finance solutions
To investigate your mortgage options call our specialist mortgage team on 0117 403 4474 or fill in our callback request form.
Mortgages are big financial commitments that can take decades to fully pay off; therefore you probably want to find the one that fits your specific circumstances best.
There are thousands of mortgages available on the market from a wide range of high street and specialist mortgage providers, while this means there are a wide selection of options available to potential borrowers it can make it hard decide to which would be most appropriate for you.
If you are currently in the market for a new mortgage whether it’s for your first home, a holiday home, a buy to let or if you’re interested in remortgaging to get a better rate you might find the Fair Mortgages calculator useful.
You just need to select what sort of mortgage you are interested in and put in all the relevant information that you can.
The Fair Mortgages calculator will then filter selection of offerings from different mortgage providers so that you can compare and contrast what might be available to you.
Types of mortgage
When looking for a mortgage you should first decide if you want a repayment or interest only mortgage as they can differ substantially as does the lending criteria.
- Capital repayment – As the name suggests with a repayment mortgage, you make monthly that covers the interest that contributes to pay for the interest that accrues on your loan as well as the original sum you have borrowed. This means that at the end of your loan term, providing you maintain your repays you will have completely paid off the mortgage. Some mortgages will permit repayment holidays which will delay how long it takes to pay off, others may allow overpayments or early repayment which will allow you to pay it off sooner
- Interest only – With this mortgage option your monthly charge will only cover the cost of the interest that gathers on your loan. At the end of your mortgage term you are required to repay in full the amount you originally borrowed. Because of this responsibility lenders often require borrowers to provide a detailed savings or investment plan to show how they intend to raise the necessary capital within the timeframe of the mortgage. They also generally have stricter lending criteria requiring applicants to have higher salaries than you would expect from a repayment mortgage of the same size. As your monthly cost is only to cover the interest on the loan this amount is normally cheaper than with a repayment option.
As well as choosing between a interest only or repayment plan you should also consider the different introductory rates available to see which you would prefer.
If you are thinking about taking out a mortgage or remortgaging you may find speaking to an independent intermediary such as our firm; intermediaries can also access specialist lenders who cannot be directly contacted by potential borrowers.
If you want to find out more about mortgage providers you can fill in the online enquiry form on this website to request a call back from a Fair Mortgages Advisor who can provide you with a free initial conversation about mortgages. Call 0117 403 4474 or request a callback.