You want your property to make you money and getting the best deal on your mortgage is a great way to ensure that. We compare interest only and repayment mortgages to find you the most suitable mortgage for your situation.
There are many factors at play. You need to consider your income, savings, outgoings and the price of the property you are looking at buying. There are basic mortgage affordability calculators online but if you call us or book a consultation, we can tailor this to your specific situation.
There are two main types on mortgage:
• Repayment mortgages
• Interest only mortgages
The latter are mainly reserved for buy to let mortgages with the idea being to only repay the interest and not the principle. Most people opt for a repayment mortgage – over time you pay less interest and more capital as the borrowed amount reduces.
There are also sub types Fixed rate, variable rate, offset and tracker mortgages. We can discus these all over the phone and which one will be best suited to your situation.
Ashby Mortgages can help you compare mortgages comprehensively with a wide range of products from the High Street and Specialist Products not available direct
If you go to a bank for your mortgage you will only be presented with their offerings. A broker however will help you compare mortgages comprehensively with a wide range of products from the High Street and Specialist Products not available direct Another advantage of going through a broker is their vast knowledge of the mortgage market and their assistance in completing your mortgage.
If you have never owned a home then yes you are qualified as a first time buyer. You can however qualify for a first time buyer mortgage if you do not currently own a home but previously have, however this is lender specific. We can present these options to you within our consultation.
Valuation fee – This will be shown on the mortgage quote and can cost between £150 – £500. It is done on behalf of the lender as part of their due diligence checks.
Lenders fees – From £0 to 0-2% of the property value. These can be either paid up front or added onto the mortgage. These will be highlighted in your mortgage illustration and are set by the lender.
Broker fee – We charge a flat fee of £195 once your mortgage offer is issued.
Solicitor fees – Usually £1000 – £2000 to cover standard conveyancing costs.
Stamp duty – Subject to homeowner status and property value. Can be estimated on the government website. Your broker can go through this with you in specific detail upon a consultation
Please feel free to book a consultation with us for advice and guidance on acquiring a mortgage