Which Mortgages?

With this type of mortgage, you repay part of the amount borrowed together with the interest being charged each month. In the earlier years of your mortgage, the majority of your monthly repayment is made up of interest.

However, towards the latter part of your mortgage term, the situation is reversed and the majority of your monthly payment will deduct from the amount borrowed.

Apart from the purpose of the mortgage, the main difference with a buy-to-let mortgage is that the lender will use the rent you will receive for the property to assess affordability. Some may also take the landlord’s personal income into account.

We have access to exclusive deals, some of which are only available to our customers. Our expert mortgage advisers will be able to let you know what the latest exclusive deals are and whether they fit with your personal circumstances. These deals are not available anywhere else on the high street.

With this type, you are only paying interest each month. This means that although your payments will be lower, the amount you borrow will still be outstanding at the end of the mortgage term. You will need to have credible arrangements to pay off the mortgage to avoid the property having to be sold, this will have to be an appropriate repayment plan that is best discussed with an IFA

Typically, a current account, savings account, or both, are linked to your mortgage and, each month, the amount in these accounts is then offset against your outstanding mortgage. You are unlikely to earn interest on your savings which are offset.

You can vary the amount you pay each month and take payment holidays in some circumstances. It may help to reduce your mortgage with lump sum payments without incurring an early repayment charge.