Mortgage advice you can trust
There are so many different types of mortgages available, it can be really confusing to understand which one is best for you.
We offer mortgage advice to help you understand which mortgage is best for you and hold your hand every step of the way from application to moving day.
Different types of mortgages
First Time Buyer
Specifically designed for people who are new to the housing market. You will need to consider how much mortgage you can afford and the amount of deposit you are going to need.
Home Mover
This is used when a person who already has a mortgage on their current home and plan to move to a new property.
Remortgaging
When you move your mortgage on your existing property, from one lender to another. Your new mortgage will then replace your old one. You may want to re-mortgage if you're: coming to the end of your existing mortgage rate.
Buy To Let
A buy to let mortgage is used when the purchase of a property is specifically for the purpose to let out to tenants and the owner will not be living in the property.
Ltd Company Buy To Let
This is a way to take out a mortgage on properties through a limited company, rather than in your own name. Buying rental properties through a limited company offers full tax relief on finance costs such as mortgage interest and mortgage arrangement fees, access to potentially lower tax rates and flexibility for planning, including for inheritance tax.
Equity Release
An equity release mortgage involves a lender giving you cash in return for a share in the proceeds of the sale of your property further down the line. But unlike with a traditional mortgage, which you pay back over a set term, an equity release loan is not settled until after you leave your home.
Types Of Mortgages We Can Provide
Repayment
A repayment mortgage is when your monthly payment will repay a bit of the capital you’ve borrowed and some of the interest too.
Fixed Rate
A fixed rate mortgage allows you to keep the same interest rate for several years. It means you'll know exactly how much you're putting towards your mortgage each month. This is unlike other types of mortgage, such as variable rate, where interest rates can change month to month.
Variable Rate
A variable rate mortgage is a type of mortgage in which your interest rate, and in turn your monthly repayments, can go up or down.
Interest Only
With an interest-only mortgage, your monthly payment covers only the interest charges on your loan, not any of the original capital borrowed.
Off Set
This type of mortgage is used if you have savings with the same lender as the mortgage provider. However instead of using the money that’s in your savings to pay off the mortgage it is used to lower the total interest charged on your repayments each month.
Which one's for you?
If you're not sure which mortgage is right for you, don't worry. Our impartial team can help. Get in touch for a no obligation chat or meeting to discuss your mortgage requirements.
Mortgage Advice
Mortgages are unique to you. They differ depending on your situation and your financial history.
It can be really confusing to understand which one is best for you. There’s a lot to consider and understand like fixed and adjustable rates, lenders, credit scores and down payments.
Mortgage advice will help you understand which mortgage is best for you and get you a good deal on your mortgage. Seeing your mortgage advisor at the start of your mortgage journey will save you a lot of time and effort in the long run.
Mortgage advisors will get an understanding of your current situation, explore the market, find a lender that will grant you a mortgage and apply for it on your behalf.
At TS Mortgage Specialists, we do a lot more than that…
Your mortgage advisor will…
- Check your finances to make sure you are likely to meet the criteria for a mortgage
- Have access to exclusive deals with lenders otherwise not available.
- Recommend an appropriate mortgage for you and will tell you which ones you’re likely to get.
- Help you take all the costs and features of the mortgage into account so you can make an informed decision.
- Help guide you through the mortgage application process.
- Communicate with your estate agent to make sure the whole process runs smoothly.
- Deal with mortgage underwriters on your behalf.
- Organise the conveyancer.
- Help you complete the paperwork so your application should be dealt with faster.
- Save you time and ease your stress.
- Keep you updated along the way.
As Authorised Representatives of the Primis network we work from a panel of lenders which is representative of the whole of the market. This will offer you more options and increase your chances of finding the best deal.
If you don’t use a mortgage advisor, you could end up with the wrong mortgage for your situation and end up paying more than you should for your mortgage.
The most common questions that we’re being asked at the minute, are about mortgage interest rates - the rate of interest charged on a mortgage. Rates are determined by the lender in most cases. They can be fixed, where they remain the same for the term of the mortgage, or variable, where they fluctuate with a benchmark interest rate.
Before you compare mortgage rates, it's important to understand the different types and how they work. Our mortgage advisors can guide you through this.
Get in touch for a no obligation chat or meeting to discuss your mortgage requirements.
We may charge a fee for our services to advise and arrange on your mortgage. This fee can be anything up to £499 at application stage
Your home may be repossessed if you do not keep up repayments on your mortgage.
Most Buy-to-Let Mortgages are not regulated by the Financial Conduct Authority.
Equity Release services are referred to a third party. Neither TS Mortgage Specialists Limited nor PRIMIS are responsible for the service received.
A Lifetime Mortgage will reduce the value of your estate and may affect your entitlement to means-tested benefits and tax status. The impact of not servicing monthly interest payments on a Lifetime Mortgage is that the outstanding debt can grow rapidly, thus reducing the value of your estate. For example, if the interest rate was 7% a year, a £50,000 loan would double to £100,000 after 10 years assuming no repayments are made. This is an example for illustrative purposes only and personalised advice and recommendations should be sought from a qualified professional. You are strongly advised to register a lasting power of attorney. This will allow your affairs to be managed by somebody else if your mental abilities significantly decline.