Adverse Credit Mortgage

Some mortgage lenders specialise in mortgage products that are tailored to borrowers with imperfect credit ratings. Typically you will pay a higher rate of interest on an adverse credit ( or bad credit ) mortgage that a traditional mortage, but if you have county court judgements (CCJs) or a poor payment history then this may be your onlt option.

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Buy to Let Mortgage

If you are looking for an investment property then then you need to look at the selection of buy to let mortgages available. Unlike the majority of mortgages that base the amount you can borrow on your income (or joint incomes) buy to let mortgages are typically calculated from the anticipated rental income for the property you are buying.

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Fixed rate mortgage

A fixed rate mortgage uses an interest rate that will remain at a certain rate for the entire term of the loan, or at least a defined period of the term.

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Flexible mortgage

By bringing together your mortgage, current account, savings, loans and credit cards, a flexible mortgage can help you make your money work harder and reduce the amount of interest you pay on your borrowing.

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Mortgage Options

There are many different types of mortgage, and the choice of which one will be best for you will depend on very much on your personal circumstances. This section outlines some of the key features of the various types of mortgage and some of the things to look out for when choosing a mortgage.

Before choosing a mortgage we recommend that you consult with an independant financial advisor, who will be able to help you choose the best mortgage for your personal circumstances.

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Offset Mortgage

An offset mortgage is a type of flexible mortgage, which links a savings account or a current account to the mortgage account, instead of paying interest on these linked accounts the interest is reduced from the amount payable on the mortgage.

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Self Build Mortage

if you are building or renovating a property then a self build mortgage may be the right choice. These typically are structured to advance the loan in phases to match the build costs, for example an advance for the initial purchase of land and stage payments at various milestones in the build process.

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Tracker Mortgage

A tracker mortgage is a special type of variable rate mortgage. With most variable rate mortgage, the lender decides when to change the mortgage interest rate in reaction to changes in the bank base rate, with a (base rate) tracker mortgage the rate will change whenever the Bank of England alters the base rate.

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Variable rate mortgage

With a variable rate mortgages, the interest rate will change over time as the bank base rate of interest changes. The interest rate changes are usually determined by the mortgage lender and therefore the timing of any interest rate changes and difference between your mortgage interest rate and the bank base rate can fluctuate over time.

The rate payable on a variable rate mortgage is based on the current bank of england base interest rate, which contrasts with fixed rate mortgages, where the rate is based on the mortgage lenders view of whate the base rate will do over the duration of the fix period. So where the consensus view is that base rates are likeley to rise, a variable rate may be cheaper than a fixed rate and conversly the revese may appy when the consensus view is that base rates will fall.

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mortgages

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