Mortgages and borrowings | Finding the right mortgage for your financial circumstances

Mortgages & borrowings

Mortgages and borrowings | Finding the right mortgage for your financial circumstances

Finding the right mortgage for your
financial circumstances

Your mortgage is likely to be your biggest financial commitment and your home may well become your biggest financial asset. It therefore pays (quite literally) to get it right. In this section we highlight some of the mortgage-related issues you may face during your life.

We can make sure you understand your options and the costs and charges involved, explain the implications of the small print and recommend options that suit your lifestyle and circumstances.

Take the next step

Contact our mortgage specialist now and find out whether you are paying too much!

Call

0113 226 6281

or

Email our specialist

Starting out

Getting a mortgage is not as easy as it used to be. Lenders require sizeable deposits and have tightened their lending criteria.

We can help you work out how much you really can afford, talk you through the various mortgages available and ensure you are not paying more than necessary.

Young family

If you haven’t already done so, this is a good time to review your mortgage. We may find that you are paying more than you need to, perhaps because your original deal has come to an end.

Also, if you want to move to a larger property or extend your current home we can help you secure the additional funding you require.

Children growing up

How long to go until you have paid off your mortgage? If you have spare cash you could consider increasing your monthly repayments. Making a lump sum repayment, for instance if you have received an inheritance, can reduce your monthly payments and outstanding capital but beware of early repayment penalties.

On the other hand, you may want to buy a holiday home or a rental property, in which case we can advise you on the cheapest way of raising the money you need.

Approaching retirement

If you haven’t already done so, you should consider paying off your mortgage and other loans. Your mortgage may allow you to make a substantial capital repayment each year, over and above your monthly repayments. Alternatively, you could repay more each month.

Either way, you will repay your mortgage sooner. But make sure you read the small print – repaying more than you are allowed to could incur heavy penalties.

Retired

With your mortgage paid off, your home is likely to be your largest asset. You may be able to use it to generate a lump sum, for instance to buy a holiday home or to generate additional income*.

However, before doing so you need to make sure you fully understand the consequences.

?

Could you be paying
less each month?

Now is a good time for homeowners to review their current arrangements and for first-time buyers to get on to the property ladder – more mortgages are now available, rates on offer remain attractive and some lenders are offering 90% loan-to-value.

Our independent mortgage specialists will explain about the various types of mortgages, such as fixed rate, tracker and offset, and recommend the most suitable for your circumstances. They will then search to find the best deal among the hundreds available across the whole of the market.

They can advise you on mortgages for:

  • moving home
  • first-time buyers
  • remortgaging
  • buy-to-let.