We are mortgage advisers with access to the whole mortgage market available to mortgage intermediaries.

Our computerised mortgage sourcing system, Mortgage Brain, currently offers a choice of well over 5000 mortgage products.

We aim to find the best deal for you whether you are moving to a new home or buying for the first time.

TYPES OF MORTGAGES

There is a wide range of mortgages available offering various financial incentives, each of which has its own advantages & disadvantages.

Variable rate
Variable rate mortgages are the most common type of loan. The rate of interest that you pay goes up and down during the lifetime of your mortgage, broadly in line with interest rates in the economy as a whole. When the interest rate goes up, the amount that you have to pay also rises, and falls when interest rates come down

Discounted Mortgages
With a discounted mortgage, lenders offer a discount on the standard variable rate for a specified term. The savings from discounted mortgages can be considerable although you have no protection against increases in interest rates and may find that an increase takes you over your budget. It is probably more suited to you, if you do not mind this uncertainty & your budget can absorb any increases in interest rates, or if you think rates will go down during the period of the discount.

Tracker
A tracker rate is usually linked to the Bank of England Base Rate and will usually move within one month of a Base Rate change. Your monthly payments will vary up & down with the base rate change.

Fixed Rate Mortgages
The biggest advantage of a fixed rate is that irrespective of fluctuations interest rates, your monthly repayments remain the same throughout the period of the fixed rate. A fixed rate mortgage is suitable if your mortgage repayments take up a large proportion of your income as it protects you from sudden & unexpected rises in interest rates. However, you do not benefit from any reduction in the lenders standard variable rate. Early repayment charges and arrangement fees can sometimes apply.

Capped Mortgage
A cap means that there will be a limit to any increase in the variable rates for a selected term. The mortgage rate charged on your account cannot exceed this rate. However if the variable rate drops below your capped rate, you will benefit by, as your repayments will be calculated using the lower variable rate. Capped mortgages enable you to place a limit on your monthly mortgage commitments & still benefit from falls in interest rates.

Standard Variable Rate Mortgage
At the end of any fixed rate or discounted rate period, the mortgage interest will revert to the lenders Standard Variable rate of interest. Your mortgage illustration will tell you what the monthly payment will be at the lenders prevailing Standard Variable rate

Flexible Mortgages
A flexible mortgage may enable the borrower to pay off all or part of their mortgage without paying an early repayment charge. The rate payable may differ from the lenders standard variable rate. Other advantages are you may be able to take payment holidays or other extra funds could be available via a drawdown facility. As with a standard variable or discounted mortgage, the interest rate can fluctuate & is not normally fixed. With this type of loan interest may be calculated daily, weekly or monthly. This may have an effect of reducing the length of time taken to repay the loan.

Offset Mortgage
This mortgage has similar features to the flexible mortgage, but with the added facility to link an Offset savings Account to the mortgage and offset any notional interest on your savings against interest charges on your mortgage.

Cash back Mortgages
Cash back mortgages provide you with an amount of cash at the outset of the loan. In return you usually agree to pay the variable rate charged by the lender for a specified term. Some lenders will offer even larger cashbacks if you agree to pay a premium over the standard variable rate, sometimes known as a loading. It is popular with people who need a large amount of cash at the outset of the mortgage, perhaps for furnishings or to help towards the cost of moving. Some lenders do offer cashbacks in conjunction with discounted or fixed rates. Please note some lenders require the repayment of the cashback amount either in part or full if the mortgage is repaid early.

Portability
Some mortgages can be continued if you move house. You must refer to the specific Key Features of your chosen mortgage product to ascertain whether the particular mortgage you have can be ported.