Everyday Mortgages covers the whole of the UK but some of the cities recently covered are; Birmingham, Bristol, Cardiff, Edinburgh, Glasgow, Leeds, Liverpool, London, Manchester, Newcastle & Nottingham.
Expert Mortgage Advice
Mortgages come in different shapes and sizes which can seem confusing. That is why getting mortgage advice from a mortgage broker is the way to go.
The type of mortgage that will suit you best depends on your financial and individual circumstances. There are a wide variety of mortgages and mortgage features. You might need a first-time buyer mortgage or buy to let mortgage or remortgage. Whether you would be most suited to a repayment mortgage, interest only mortgage or offset mortgage you should start your mortgage deal search with having a chat with a mortgage broker.
Mortgages For Specialist Needs
If you are self-employed, have a history of credit problems or unpaid debt or are a homeowner over a certain age you may struggle to get a mortgage on the high street. Your mortgage broker will be happy to help you understand what type of mortgage would be most suitable.
Find A Mortgage Broker
A mortgage broker is fully qualified in the mortgage industry. A mortgage broker’s main responsibility is identifying your individual needs and objectives and then researching the market for the most suitable mortgage product for your individual circumstances.
Benefits of Using a Mortgage Broker
- Wide range of mortgage deals
- Fully qualified and experienced in dealing with a wide range of scenarios
- A mortgage broker could save you time and money
- A mortgage broker can sometimes access exclusive products and rates that are more competitive than those on the high street
Everyday Mortgages Ltd can help not only first-time buyers looking for a mortgage deal but also those who would like to remortgage or buy a property to let.
Get in touch with our mortgage broker to find out more about the different types of mortgages and features.
Your Home may be repossessed if you do not keep up repayments on your mortgage.
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Mortgage Products Types
A fixed rate is when the rate of interest your mortgage borrowing is calculated on will not move for a period of time. Usually 2-5 years. Longer terms may be available. A fixed rate provides security knowing your mortgage payments will not increase for a specified period of time.
However, the potential downside to a fixed rate is that if the base rate reduces during the fixed rate period you will not be able to benefit from reduced payments.
A tracker rate is when the rate of interest your mortgage borrowing is calculated on increases or decreases in line with a linked base rate. This will mean your payments could increase or decrease. Tracker rates provide more flexibility than fixed rates although borrowers must ensure they can afford their mortgages if the rate increases.
A capped rate is very similar to a tracker rate as the rate increases or decreases in line with the Bank of England Base Rate but will never exceed a specified top level – ‘the cap.’
The product is a niche product and is not always available.
A SVR mortgage is a loan at the lender’s normal mortgage rate – ie without any discounts or deals. It moves up and down at the lender’s discretion. This means your payments could increase or decrease.
A discount mortgage gives you a lower rate for an agreed period usually 1-5 years after which the rate will increase. A discount mortgage normally gives you a discount from the lenders Standard Variable Rate. This will mean your payments could increase or decrease. Borrowers must ensure they can afford their mortgage if the lender increases their Standard Variable Rate.
An offset mortgage allows your savings to work harder for you. It is a way to reduce the amount of interest calculated on your mortgage. For example if you have a mortgage of £100,000 and savings of £20,000, if you offset the savings you would only be charged mortgage interest on £80,000. This would either reduce your term or monthly payments. The £20,000 savings would generally still be accessible. The product to run alongside this type of mortgage would usually be a tracker rate although fixed rates are also available.
Why Use Everday Mortgages Ltd?
UK Wide Online Mortgage Broker
- Fully CeMAP qualified adviser who provides full advice and recommendation
- Work on your behalf and not on behalf of the lenders
- Deal with all the administration and paperwork on your behalf
- Offer advice on Life Cover, Critical Illness Cover, Income Protection and Buildings/Contents Cover
- No obligation service