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The Mortgage Guy - Fee Free Whole of Market Mortgages

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Mortgages

There are many types of mortgage in existence. Which mortgage is right for you depends upon your circumstances and requirements. mortgage paperwork

The cheapest rate might not necessarily be the best long term prospect as other factors can control the amount you pay over time.

In the links below I have listed basic information for the main types of mortgage. Give me a call or complete my quick contact form to get a fee free consultation and I will find you a mortgage deal that's right for you.

Variable | Fixed | Capped | Tracker | Discount | Offset


YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Interest Only v Repayment


An important thing to consider is the repayment method for the mortgage. There are two basic types of methodology:

The repayment-type model which is the safe method guaranteeing that the mortgage will be repaid at the end of it's term (providing payments are maintained throughout the term of the mortgage).

The interest-only method which relies on another form of repayment for the capital at the end of the term.

Interest-Only Mortgages


These types of mortgages rely on a seperate source of repayment as the repayments only cover the actual interest that is being charged on the mortgage and no capital is repaid. This source can take the form of an Individual Savings Account or other investment.

The aim is for the savings plan to grow sufficiently to meet full repayment of the mortgage at or before the end of it's term. There is an element of risk with this type of mortgage as there is no guarantee that the investment will generate sufficient returns to pay off the mortgage.

Repayment-Type Mortgages

The monthly repayment consists of both interest and capital. The end result therefore is that the full mortgage is repaid at the end of the term making this a safer option than an interest only mortgage.

Your mortgage statement each year will show the amount of the mortgage capital reducing as well as the interest that has been paid.

It is important to get help and advice when looking for a mortgage so give me a call or fill in my quick contact form and I'll call you.


 
 
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'A few of the lenders I contact to get the best deal for you'
Mortgage News
BBC News
01 Feb 12, 07:02:57
Winter freeze for UK house prices

UK house prices started the new year with a slight decline - falling by 0.2% in January compared with the previous month, the Nationwide says.

31 Jan 12, 02:01:43
200,000 homes 'at flooding risk'
The Association of British Insurers estimates that up to 200,000 flood-prone homes could face insurance problems next year.

27 Jan 12, 11:01:33
Mortgage rates 'to be volatile'
Brokers are telling new borrowers to expect mortgage rates to see-saw in the coming months, owing to economic uncertainty.

30 Jan 12, 12:01:41
House prices fell by 1.3% in 2011
House prices in England and Wales fell by 1.3% last year, to an average of £160,000, according to figures from the Land Registry.

25 Jan 12, 10:01:57
Winter spurt in mortgage lending
Gross mortgage lending by the major UK banks reached its highest monthly level of the year in December, figures show.

Disclaimer: All information contained in the above news articles, is for general information purposes only and should not be construed as advice under the Financial Services Act 1986.

The information on this website is for use of residents of the United Kingdom only. No representations are made as to whether the information is applicable or available in any other country which may have access to it.

The Mortgage Guy Ltd is an appointed representative of Openwork Limited, which is authorised and regulated by the Financial Services Authority.

The Mortgage Guy Ltd is registered in England and Wales - No.6089895
Registered Address 12 Colebrook Road, Plympton, Plymouth PL7 4AA.

Openwork Limited offers insurance and investment advice on products from a limited number of product providers and advice on mortgages representative of the whole market.