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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 provide advice that is easy to understand with flexibility to cater for special mortgage needs – real financial solutions for real people! We realise that one of the most important and difficult decisions you will make is ‘which mortgage is best for you’. The mortgage market is a maze full of jargon with many lenders , many repayment options and ‘special deals’. With impartial professional advice from us you can feel confident that you are choosing your mortgage wisely. We will help you make this decision by providing you with jargon free advice – real financial solutions for real people! A common question we get is ‘how much can I borrow’? We are able to determine the maximum you can borrow, depending on your employment status and credit history. Many lenders do not offer the same income multiples. Most now use affordability calculators. We can help you with this, we want you to be able to meet your commitments, without overstretching both now and in the future. We are independent mortgage advisers, we act on your behalf and NOT the lender, insurance company or property vendor. We are committed to taking the stress out of finding the best possible mortgage to suit your circumstances. We will stay with you and help you along the way until your mortgage completes. We are able to use our extensive knowledge to find the lender who is offering the most suitable product for your personal circumstances. 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. It is important that we fully understand your needs and to ensure this is the case, we conduct a comprehensive ‘fact find’, followed by a full advice process with specific recommendations. We are motivated by treating our clients fairly, which means we follow the principle to 'always act in the best interests of our client'. Mortgage types Repaying the capital • Repayment mortgage - a mortgage repayment method where the capital and interest is, repaid. • 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. • Endowment mortgage - an interest only mortgage where the capital is repaid by one or more endowment policies at the end of the mortgage term. • An investment backed mortgage - an interest only 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 • Buy to let mortgage - a semi-commercial mortgage on residential property let to tenants. • 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. • Self-cert mortgage - a mortgage where the lender does not seek proof of income to demonstrate affordability; but instead relies on a statement of earnings as certified by the borrower(s). • Non-status mortgage - a mortgage where the borrowing is not dependent on the income of the applicant and the applicant states they can afford the repayments. • Deferred interest mortgage. • 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.. 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