Put simply, a mortgage is just a loan but with a key difference that it’s secured against your home. This means that if you don’t keep up your mortgage payments, your lender may be able to sell your home to recover the money you owe. Whenever the property is sold, as the lender has a ‘first charge’ – or in Scotland a ‘standard security’ – the mortgage must be paid back first. With your home as security, the lender is usually able to offer you a lower interest rate than you find with other types of loan.

 
Below is a summary to mortgages and your adviser can explain all the options to you.

 

By moving your mortgage to a new lender you may be able to take advantage of a better mortgage rate. Some lenders offer to pay the legal costs and valuation fees associated with re-mortgaging.  Regarding the process for re-mortgaging your home, the new lender will want to make similar checks to when you bought your home originally.  In certain circumstances, you may have to pay an early repayment charge to your existing lender if you re-mortgage, for example, if you are still in a fixed rate or tracker period.

 

Re-mortgages can be for residential properties, buy to let properties and to allow debt consolidation.

To get an idea of what your monthly mortgage outgoings may be use our quick and simple mortgage calculator.

 

If you’re re-mortgaging or moving home, it’s a good time to review your existing insurance arrangements to make sure you have sufficient cover.

 

Are you moving home or a first time buyer?  Perhaps you have the right to buy or would like to invest in a second home or a buy to let property?

 

There are so many things you need to consider:

Our professional mortgage advisers can help you answer all these questions and make the process much easier to deal with. Do you need advice to help you on your journey? Whatever your requirements our advisers can help.

 

To get an idea of what your monthly mortgage outgoings may be use our quick and simple mortgage calculator.

 

Buying a home is a big commitment. With your adviser’s help, you should arrange for sufficient insurance cover to help ensure your mortgage is repaid and if you have a family, that they are provided for if the unthinkable should happen.  For insurance business we arrange policies excusively from Legal & General.

 

Your home may be repossessed if you do not keep up repayments on your mortgage.

 

Our typical fee for arranging your mortgage is £295, however depending on your circumstances we may charge up to 1.5% of the loan amount.

Contact us now on 0800 652 6649 if you would like more information on mortgages or an annual mortgage review.

Think clearly! with Clear Mortgage Solutions.