Mortgages and Re-mortgages
Access specialist advice and a wide range of mortgage and re-mortgage deals from lenders across the market.
Mortgages are one of the largest single transactions in most people’s lives. Buying a property, commercial or personal, can be a stressful and time-consuming experience.
Banks, building societies, and smaller niche lenders compete for your business, all offering a variety of interest rate deals, associated fees and other enhancements to attract borrowers.
Finding and selecting the most suitable mortgage, rather than simply accepting a lender’s offer, can take-up a significant amount of time and consideration.
Specialist, clear and simple advice
We work with specialist mortgage brokers HCF who offer access to a wide range of mortgage and re-mortgage deals from lenders across the market. Their expert advisers will find products matched to your circumstances, presenting the options clearly and simply.
There are two main methods of repaying a mortgage, repayment and interest-only. It is also sometimes possible to use a combination of the two.
Repayment (capital and interest)
Your monthly repayments consist of both interest and capital so, over time, the amount of money you actually owe will decrease. In the early years your repayments will be mainly interest and therefore the capital outstanding will reduce slowly to begin with. Repayment mortgages are repaid at the end of the term providing all payments are made on time and in full.
As the name suggests, this method only repays the interest on the amount borrowed. At the end of the term the capital is still outstanding so you will usually need an investment policy to save up enough money to repay the mortgage at the end of the term.
Traditionally, the preferred product for repaying the capital of an interest-only mortgage was a mortgage endowment policy (which included a set amount of life cover) although more recently customers have been using Individual Savings Accounts (ISAs) and pensions to build up a sufficient sum, taking advantage of the tax breaks offered by these products.
HCF's expert advisers will help you choose the most suitable product
They will discuss with you the factors you need to consider, such as:
- The repayment method
- The interest rate type
- The mortgage amount
- The mortgage term
- Interest rates
- Offers, fees and enhancements
- Salaries and income
- Any outstanding debt
As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments.