Mortgages

Trackers? Fixed rates? Offset? Buy-to-let? Sometimes finding your way through the mortgage maze can be exhausting. Why not let us be your guide to the ins and outs of the huge range of deals on offer? Read on for comprehensive guides to the different types of mortgage on offer, as well as some juicy tips that can help prevent you paying over the odds for your home loan.

Your mortgage is probably the biggest financial commitment you will ever have. It is also the most important as falling behind with your payments can result in your home being repossessed, so finding the right home loan is particularly crucial.

Most lenders have a standard interest rate, known as the SVR. But it is generally a lot cheaper to sign up to a fixed, capped or discounted-rate deal over a certain number of years.

Other options include offset mortgages, which can be a great idea for those with a lot of savings.

For landlords, renting out properties in the UK, lenders also offer buy-to-let mortgages.

When taking out a mortgage, you also need to decide if you want a repayment structure under which you pay off the underlying loan as well as the interest, or an interest-only deal that involves smaller monthly payments but means investing elsewhere to pay off the amount borrowed at the end of the term.

Finally, you need to take other aspects of the deal into account, including the set-up fees and early repayment charges (ERCs).

Here is a quick guide to the different types of mortgage to help you choose the right sort of deal for you plus other useful links.

If you’ve discovered a great mortgage deal, let us know about it – contact us.

 

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