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Mortgage Broker Tip 1 | Mortgage Broker Tip 2 |
Be realistic when you apply for any creditA failed application for credit on its own can lower your credit rating. You should therefore be quite clear about your credit-worthiness – and in particular your ability to pay back any capital loaned – before you apply for any credit. You should avoid multiple failed applications for credit and, if you have a failed application, wait at least 3 months before you make another application. | Endowment MortgageEndowment mortgages refer to types of mortgage products associated with interest-only mortgages and so are therefore only open to non-residential customers at this time. Your repayments are made purely to pay for the interest levied with an interest-only mortgage. To pay off the capital, you need another investment vehicle and an endowment mortgage is one such approach to paying off the capital at the end of the mortgage. /div> You make regular payments into an endowment, which is itself an investment fund, during the lifetime of the mortgage with the hope and expectation that the fund will grow large enough to cover the capital at the time of the mortgage expiring. Endowment funds always force you to take out life cover so the capital is covered in the event of your death. There is no guarantee, however, that the endowment fund will actually cover the mortgage's capital when the mortgage expires, leaving a significant shortfall. This is because investment funds can of course decrease in size as well as increase, there is no absolute surety of success. This result was sometimes observed when residential clients used to be able to take out endowment mortgages and is one of the reasons why interest-only mortgages are no longer accessible to residential customers. |
| Average property price in Silvertown | £418,490 |
| % Change compared to last year | - 8% |
| Population of Silvertown | 32,637 (2001) |
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 Silvertown 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.
