Whether you’re a first-time buyer, moving home
or staying put and remortgaging, Mortgage Alternatives advisers
can help you choose a suitable mortgage.
What is a mortgage?
A mortgage is like any other kind of loan – you borrow money,
and you pay it back with interest over a period of time. But it
has one key difference: it’s secured against your home. So if
for any reason you can’t repay it, the lender can sell your home
to recover their money.
First Time Buyers
Over the past few years, the property market has been moving
very fast and has led to significant increases in property
prices. This has made it very difficult for many people to
afford to buy a home. This is a problem particularly faced by
first time buyers, as although they may be able to raise a
mortgage, this will often fall far short of the cost of a
property.
It is, however, still possible for first time buyers to get onto
the property ladder and there are actually some advantages to
being a first time buyer
For more advice on how to get on the property ladder as a first
time buyer complete our mortgage enquiry form online today or
give us a call on 0845 833 7500.
Self Certified Mortgages
Mortgages for the self employed and other people who find it
hard to prove their income.
If you're one of the estimated 3.2 million self employed people
in the UK, or have working styles which differ slightly from the
norm, you'll benefit from using the services of an independent
firm of mortgage brokers who specialise in arranging self
certification mortgages & remortgages for the self employed,
company directors, contractors and other people who find it hard
to prove their income.
With a true self cert mortgage, you make a declaration as to
what your income is, but you do not need to provide any proof.
You simply state what your likely income will be, rather than
providing documentary evidence such as accounts, P60s or
payslips.
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To obtain whole of market advice from a qualified adviser (who
will act for you and not the lender) simply complete the short
online enquiry form and press PROCEED.
To help the process please enter as much
information as possible.
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| Find You the Best Self Cert Mortgage Deals |
Whether you have a good or bad (adverse) credit
history, help is available and you can be sure of
getting the best deals. With many different lenders in
the market, an advisor will take the time to shop
around, ensuring you get the most suitable solution for
your requirements and situation.
To obtain advice from a qualified mortgage adviser
please complete our mortgage enquiry form online today
or give us a call on 0845 833 7500. |
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Adverse credit mortgages come in a number of guises.
Impaired, sub-prime, non-conforming, specialist and
adverse all mean the same thing, it's simply that
different lenders adopt different terms to represent
borrowers who have or have had credit problems in the
past. This might be county court judgements (CCJs),
previous mortgage or loan arrears, bankruptcy or
voluntary arrangements (IVA) with creditors.
There are perfectly ordinary reasons that can make
getting a mortgage difficult - because of credit
"hiccups" like CCJs, arrears, moving frequently or
simply being self employed. If you're looking for an
adverse credit mortgage, whatever your circumstances,
you will be surprised in how many ways a qualified
professional adviser can help, whether you're
remortgaging to consolidate existing debt, moving house
or simply want a better mortgage deal. |
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Buy to let mortgage lenders will usually insist that
you have a deposit of 15 per cent, so the size of your
deposit will help determine the amount you can borrow.
Lenders will usually insist that the rent the property
will command covers 125 per cent of your mortgage
payments (although some will accept 100%).
This protects both you and the lender against rental
voids - periods when the property is un-tenanted.
Unlike residential borrowers, most buy to let investors
opt for interest-only mortgages, simply paying off the
interest owed to the lender, but not the outstanding
capital. This is repaid on the sale of the property.
With a buy-to-let mortgage some lenders will only
consider your rental income when offering a mortgage,
while others will place more emphasis on your normal
earnings.
At Mortgage Alternatives we can help you find the best
deal for you, whether you have a large portfolio of
rental properties, or, if this is the first time you
have considered buying a second property to rent out,
simply complete the short online enquiry form or phone
0845 833 7500. |
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A remortgage is a way of changing from your current
lender to another lender.
One of the main reasons to remortgage is simply to find
a better deal than your current mortgage. Remortgaging
can also be effective at releasing any equity you have
in you property. By doing this, the extra funds can be
used for home improvements, debt consolidation or even
paying for a new car. During the remortgage process, the
existing mortgage lender will be paid the outstanding
mortgage balance which will then be followed by you
borrowing either the same amount or larger depending on
whether you will be releasing some equity in your
property.
Remortgaging can be a very confusing and stressful time,
particularly if you are not confident when dealing with
financial matters. It can sometimes be beneficial to go
through an expert for advice. A remortgage broker will
not only be able to offer you independent mortgage
advice, they will also be able to arrange the remortgage
for you. This will save you time as you won’t have to do
endless research looking for a re-mortgage deal that you
think is right for you only to discover in the future
that you have made the wrong choice. |
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