A mortgage is  a first charge secured on a property to enable people to buy a property.  How ever there are a number of different kinds of mortgage and our guide may help you navigate the maze of information out there.  For more details on any of the products listed please call or email one of our professional advisers.

Buy To Let Mortgage

A (Buy To Let)  mortgage which is used to purchase a property for investment you become a landlord and let out the property.

Capital and Interest or Repayment Mortgage

A mortgage with both the capital and interest are repaid to the lender throughout the mortgage term.  The monthly repayment is calculated at the outset.

Capped Rate Mortgage

A mortgage where the interest rate cannot rise above a specified level.

Cash Back Mortgage

A mortgage that offers an incentive of a cash lump sum at the outset of the mortgage loan. An early redemption charge would normally apply

Commercial Mortgage

A mortgage on commercial property such as shops, offices or nursing homes.

Daily Interest

Many modern mortgages are arranged with the interest rate calculated daily particularly an advantage with flexible and offset mortgages.

Discounted Rate Mortgage

A discounted rate is normally set at a rate below the lenders standard variable rate. An early redemption charge would normally apply

Fixed Mortgage rate

A fixed rate mortgage is at a set interest rate for 2-5 years or longer.  The mortgage loan then normally reverts to the standard variable rate. An early redemption charge would normally apply

Flexible/Offset Mortgage

This mortgage allows borrowers to overpay, underpay and take payment holidays on their mortgages. With an offset mortgage you can link your savings or your current account balance to your mortgage so you only pay interest on the difference.

Interest Only Mortgage

The lender only receives the interest on the mortgage.  The capital is often repaid by an investment vehicle

Right to Buy Mortgages

Since 1980 council tenants have been able to purchase their property at a discount. 

Secured Loan

This is usually a second charge on a property with a different lender.

Tracker Rate

A Tracker Rate Mortgage is normally linked to the Bank of England base rate.  The interest rate moves up or down as the base rate changes.

Variable Rate

Here the interest rate is specified by the lender and is sometimes called the standard variable 

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

We will not charge a fee for mortgage advice please quote reference mort1