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Mortgage Types

Remortgages & Product Transfers

When mortgage interest levels are low it offers a good opportunity to review your current mortgage rate. Often remaining with the same mortgage lender for some time can mean you are not on the right rate and therefore remortgaging could save you money.

Reviewing your mortgage every few years is generally good practice and makes sure you are always on the most suitable rate available. This can also be a time to reassess your overall financial situation, not just your product and interest rate, but also the term of your mortgage and the potential for further borrowing for home improvements or other reasons.

As well as free no obligation mortgage reviews, I am happy to assess any Product Transfer offers your current lender has supplied. If it is the right deal for you then I will confirm this and can put through the application for you at absolutely no charge.

You may have to pay an early repayment charge to your existing lender if you remortgage.

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First Time Buyers

As a first-time buyer you have probably already asked yourself the questions below and many more.

  • How do I start trying to find mortgage?
  • How much am I likely to be able to borrow?
  • What type of mortgage products and interest rates are there?
  • How do I decide the term of the mortgage to suit me best?

I can meet with you and talk you through the full process and explain all the above. Once you know the property you would like to buy, I would process the application and keep you fully informed of progress until you are finally in your new home.

This can involve using your Help to Buy ISA, or making use of the available Help to Buy Schemes as well as liaising with solicitors, surveyors and lenders.

Before applying for a mortgage, it is a good idea to check your credit report to find out if there may be any reasons why your application could be refused. A copy of your report can be obtained free from many credit rating agencies such as Noddle or Clearscore.

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House Movers

You may be porting an existing mortgage and borrowing more for a purchase or you may be looking for a completely different mortgage for your new home. Either way, I will source across the market to find the most suitable mortgage for your individual circumstances.

Buy To Lets

A Buy-to-Let mortgage is specifically designed for people who are purchasing one or more properties to rent out. I can help source the most suitable mortgage whether it is an individual buying or remortgaging a Buy to Let, or a Limited Company with a portfolio of properties.

There is no guarantee that it will be possible to arrange continuous letting of the property, nor that rental income will be sufficient to meet the cost of the mortgage. Your property may be repossessed if you do not keep up repayments on your mortgage.

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Mortgage Protection

A mortgage is the biggest financial commitment most people ever have, so it is prudent to protect it through insurance that repays the mortgage in full if you are no longer able to through death or serious illness. If your partner, family or children depend on your financial support for their livelihood, then it is essential to protect against these circumstances and have security and peace of mind.

There are a number of insurance options available to protect against the above, such as Life, Critical/Serious Illness or Income Protection. This can be discussed with you in more detail to find the best solution to match your circumstances and suit your budget.

Buildings Insurance

This is a necessary insurance when taking a mortgage as the Mortgage Lender needs to know it is in place before the mortgage can complete. Allander Mortgages can arrange for a broker to contact you to discuss your requirements and offer various quotes to meet your budget and needs.

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