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Mortgage Broker Tip 1 |
Mortgage BrokerTip 2 |
Applying for a mortgage? Never take out a payday loanSome mortgage underwriters automatically reject applications for mortgages from people who have taken up payday loans. Lenders most often view the use of payday loans as evidence of poor money management. They are also extremely expensive. |
Mortgage TypesMortgages can be broadly divided in the following ways:
Residential mortgage applicants can only take out repayment mortgages, where monthly payments are divided between paying off the interest on the loan and paying down the capital borrowed. Non-residential mortgage applicants can take out interest-only mortgages, where monthly payments are purely used to pay off the interest on the loan and the capital must be found at the end of the term from other sources. Mortgage interest rates can either be fixed for set periods or track a rate (essentially the Bank of England base rate). Offset mortgages involve interest which would be paid to the mortgagor on another account being put towards paying off the interest on the mortgage. Help to Buy mortgages are residential mortgages which accompany Government equity loans to enable buyers on the scheme to buy New Build houses. Helper mortgages describe mortgages which involve an associate of the mortgage doing something which assists a mortgagor to buy a home. The associate has carry out an action such as open a linked account, guarantee the mortgagor's repayments using their own home as security or devote the interest on a savings account to helping pay down the interest which the mortgagor owes. |
Average property price in Caversham | £405,496 |
% Change compared to last year | 15% |
Population of Caversham | 23,885 (2011) |
Our mortgage broker has access to the whole of the market as our home loan brokers aren't tied to any particular mortgage providers.
Mortgage Brokers Caversham offering free first consultation (terms apply).
With no need for face to face meetings you'll be called on the same day by one of our mortgage specialist brokers to discuss your circumstances and can support complex applications for Help to Buy, Right to Buy and Shared Ownership mortgages
You'll have access to the whole of the market as our mortgage brokers aren't tied to any one mortgage company.