Residential Mortgages

Make your move on the property ladder with ease.

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Buying a new home is exciting and stressful in equal measure! However, when it comes to the pain of sourcing a new mortgage, help is at hand. We’ll find and secure your new residential mortgage with the minimum stress so you can take the next step on the property ladder.

The residential mortgage market can seem overwhelming with so many options available. However, our expert mortgage advisers will guide and support you through the mortgage maze. We know where to look and how to evaluate a mortgage deal. With access to the whole mortgage market, including intermediary-only lenders, we can find the right mortgage for your needs, whatever your circumstances.

We’ll manage the whole application process – from sourcing your mortgage right through to you receiving the funds. Tell us what you need, and we’ll find it for you.

Our Residential Mortgage Services

We’re experts at arranging all types of residential mortgages, so whether you’re in a property chain, buying your first home or refinancing, we can get you the mortgage you need.

Home Mover Mortgage

When you’re ready to take that next step on the property ladder, we’ll help find you a new mortgage to realise your home-moving ambitions.

Remortgages

If your current mortgage is expiring or you want to refinance your existing arrangement to borrow more funds, we’ll help you find a competitive replacement.

First-Time Buyer Mortgage

When you’re buying that exciting first home, we’ll help you secure your first mortgage to make your dream of owning a property a reality.

Affordable Housing Scheme Mortgage

If you’re having help to buy your new home via a shared ownership or shared equity scheme, we’ll help you source the right mortgage.

Your Residential Mortgage Options

Various mortgage options are available to you, depending on your circumstances. Here’s a summary to familiarise yourself with the possibilities.

The two main residential mortgage types are capital repayment and interest-only mortgages or a blend of both.

Capital repayment mortgage

With a capital repayment mortgage, your monthly payments include the interest and an amount toward the balance of the mortgage loan.

With a capital repayment mortgage, your monthly payments include the interest and an amount toward the balance of the mortgage loan.

The loan amount gradually reduces each month until it is fully repaid at the end of the term.

Interest-only mortgage

With an interest-only mortgage, you only pay the interest charges on your mortgage loan each month. Your monthly payments will be lower than a capital repayment mortgage.

However, you won’t reduce the loan amount, so you’ll need another way to pay it off at the end of the term.

Once you’ve decided on the type of mortgage, there are several interest rate options:

Fixed-rate mortgage

A fixed-rate mortgage is a home loan whose interest rate stays the same for a specific period. Typically, the rate will be fixed for two, three, five or ten years.

This type of mortgage offers certainty as the monthly repayments stay the same even if interest rates change. A fixed-rate mortgage can be a good option if you’re concerned about meeting repayments should interest rates rise.

Variable-rate mortgage

With a variable-rate mortgage, the interest rate can move up or down. These fluctuations will affect your monthly repayments.

If interest rates fall, your mortgage payments will decrease, but there is always the risk of rates rising and increasing your monthly payments.

There are three main types of variable mortgages: standard variable rate, tracker mortgage, and discounted mortgage.

Offset mortgage

An offset mortgage links to your savings or current accounts. Any credit in these accounts can reduce the overall amount of interest you pay on your mortgage.

By reducing the interest, you can either lower your monthly payments or reduce the overall term of your mortgage.

Tracker rate mortgage

The interest rate on a tracker mortgage moves in line with the Bank of England’s base rate.

The rate is set at a certain percentage above the base rate and moves up or down according to adjustments in the base rate.

Choose the right Residential Mortgage

The right residential mortgage option for you will depend on your personal circumstances. Our experienced mortgage advisers can talk you through the options to help you decide. For your free, no-obligation initial consultation, contact us today.

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