Mortgages and Loans

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If it's time for impartial financial advice then it's time to talk to us! With access to the whole of the mortgage market, We Can Mortgages and Loans provide advice that is easy to understand with flexibility to cater for special mortgage needs - real financial solutions for real people!.

Unlike many lenders who simply use affordability calculators, We Can Mortgages and Loans are able to determine the maximum you can borrow based on your employment status and credit history. This is so you are able to meet your commitments, without overstretching both now and in the future.

As independent mortgage advisers, We Can Mortgages and Loans act on your behalf to find you the best deals. We are committed to taking the stress out of finding the best possible mortgage to suit your circumstances and will continue help and support services until your mortgage completes.

A key benefit of our service is our personal, caring approach with no time limits imposed, allowing you to feel completely comfortable when asking questions. Taking on a mortgage is a serious & long term commitment so it is vital to seek good honest advice to help ensure you choose the best possible product for your circumstances. To ensure this is the case, we conduct a comprehensive 'fact find' followed by a full advice process with specific recommendations.

Mortgage types available:

Repayment mortgage - a mortgage repayment method where the capital and interest is repaid. It is worth noting that a remortgage isn't always the best option. Even if the lender you are considering switching to is offering a lower APR (Annual Percentage Rate), it doesn't necessarily mean you'll pay less overall.

Interest-only mortgage - where the capital is not repaid until the end of the mortgage. For example, if the mortgage value is 90000, interest rate is 5.6% and the mortgage is for 30 years, monthly interest payment will be {(90000*5.6%)/12}=420.

Investment backed mortgage - where the capital is repaid with the proceeds of a PEP or ISA or other investment plan at the end of the mortgage term. (Note: PEPs are no longer available to new investors). Sometimes these are referred to as PEP mortgages or ISA mortgages.

Pension mortgage - where the tax-free cash lump sum of a personal pension scheme is used to repay an interest-only mortgage at retirement.

Types of interest rate:

Variable rate - the rate varies at the discretion of the lender.

Standard variable rate - the default variable rate the lender offers to mortgage borrowers with a standard residential mortgage.

Tracker rate - a variable rate that is linked to an underlying public interest rate (typically Bank of England repo rate) by a predetermined margin. For borrowers the rate is often linked to the LIBOR.

Fixed rate - the interest rate remains constant for a set period; typically for 2, 3, 4, 5 or 10 years. Longer term fixed rates (over 5 years) whilst available, tend to be more expensive and/or have more onerous early repayment charges and are therefore less popular than shorter term fixed rates.

Discount rate - where there is reduction in the standard variable rate (e.g. a 2% discount) for a set period; typically 1 to 5 years. Sometimes the rate is stepped (e.g. 3% in year 1, 2% in year 2, 1% in year three).

Capped rate - where similar to a fixed rate, the interest the rate cannot rise above the cap but can vary beneath the cap. Sometimes there is a collar associated with this type of rate which imposes a minimum rate. Capped rate are often offered over periods similar to fixed rates, e.g. 2, 3, 4 or 5 years.

Other types of mortgages:

Buy to let mortgage - a semi-commercial mortgage on residential property let to tenants. Designed for property investors and private landlords.

Right to buy mortgage - a mortgage arranged under the right to buy your home legislation for council or housing association tenants.

Let and buy mortgage - you let your existing property and buy a new property with a mortgage.

Flexible mortgage - allows additional capital payments without penalty and often allows payment holidays or underpayments.

Adverse credit mortgage - mortgage to borrowers with credit problems, e.g. county court judgements.

Offset mortgage - a mortgage where the borrower can reduce the interest charged by offsetting a credit balance against the mortgage debt.

Foreign currency mortgage - where the debt is transferred to one or more foreign currencies to reduce capital and interest payments through fluctuation in exchange rates.

To enquire now please complete the form on our contact page or call 01914 990 990 and speak to a friendly adviser.

Tel: 0191 4990990
We Can Mortgages and Loans.
Clavering Road
Blaydon, Gateshead
Tyne & Wear
NE21 5HH

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