Mortgages

Finding the right Mortgage can often be a longwinded and tiresome experience. Certified Financial Advisors can provide you with access to advisors with a wide range of products and providers so that you can find the right Mortgage that meets your needs.

Whether you are a homeowner looking to remortgage your existing property or a first time buyer you want the best advice and options made available to you. With lending becoming difficult to secure it is vitally important that you get the best possible advice.

The Mortgage market is continually evolving with lenders regularly updating the Mortgages they provide. Certified Financial Advisors can put you in touch with an advisor who understands the Mortgage market and your needs.

Some of the most common Mortgage products include the following;

Fixed rate mortgage

A Fixed rate Mortgage means you fix the interest rate for an agreed period of time. A Fixed rate Mortgage product protects you against changes in interest rates and therefore gives you security in knowing what your monthly instalments will be. Different lenders specify different criteria including rates and period.

Flexible rate mortgage

Flexible rate Mortgages or variable rate Mortgages generally do not fix the interest rate so if Bank of England rates change your instalments may go up or down. Flexible rate Mortgages also allow you flexibility in your monthly instalments.  This type of Mortgage is well suited to an individual whose income fluctuates from month to month or year to year.

Base rate tracker mortgage

Base rate tracker Mortgages track the Bank of England’s base lending rate. Your repayment amount will be determined by the base rate plus the lenders agreed rate. Usually tracker Mortgages are for a fixed time period but you can also get a product called a Lifetime tracker Mortgage which is the same as a Base rate tracker Mortgage but for the life of your loan. The repayments in a Base rate tracker Mortgage will vary if interest rates change.

Offset mortgage

An Offset Mortgage allows you to enter into a loan agreement but offset any savings or credit against the loan amount thus reducing the amount of borrowing you are being charged interest on. They are very flexible and can often allow you to re draw funds up to an agreed limit.