Whether you are buying your first home, moving to another property or remortgaging onto a new deal, you will require a residential mortgage.
We all want to repay the mortgage on our homes as fast and as efficiently as possible, understanding how the varying products, repayment methods and the fees applied by the lenders effect this is crucial.
Our advisers will discuss all of this with you to ensure that the lender and the product recommended is the very best deal available, offering specialist advice, tailored to meet your specific needs, whatever your circumstances.
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
For most of us buying a home will probably require a mortgage. How much you can borrow is based on your income and outgoings. Lenders interpret these in varying ways, using their own affordability calculators, meaning the amount you could potentially borrow differs hugely between each lender. For most of us this is likely to be our biggest monthly outgoing, without the right help & advice costly mistakes can be made.
This is where a professional broker like Roxburgh Financial Management can help – we’ll search the market on your behalf to find a suitable mortgage that suits your individual needs and circumstances. For a clear understanding of exactly how much you could borrow contact us now.
Following a Financial Conduct Authority (FCA) initiative called the Mortgage Market Review (MMR) strict new affordability checks were launched meaning affordability has become even more imperative. Lenders interpret affordability in varying ways, using their own affordability calculators, meaning the amount you could potentially borrow differs hugely between each lender.
Remortgaging can help you to reduce your payments or to improve your borrowing terms, you might also want to remortgage in order to get a more flexible deal which will allows you to overpay, or to take advantage of an offset facility to reduce your interest payments. You may have to pay an early repayment charge to your existing lender if you remortgage.
You can also remortgage to release equity in your property, drawing money out of your home to use it for something else such as purchasing a second home, undertaking home improvements or to cover school fees.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
In addition, you can also remortgage to consolidate other loans such as credit card debts and personal loans. If credit card debts, or personal loans are placing a strain on your finances, remortgaging to release funds to pay off or consolidate these debts into one monthly payment is one option to consider. A mortgage can offer a better interest rate here but don’t forget that the longer you take to pay off these loans, the more you’ll pay overall in interest.
For establishing your needs, undertaking research and making a recommendation, we charge a fee of £395. Our fee typically becomes payable when you apply for your mortgage. This amount and when it is payable will be confirmed in your Client Agreement letter.
If you choose to proceed with our recommendation and the mortgage goes ahead, we will also be paid commission from the lender for arranging the mortgage on your behalf.
The amount of commission we receive varies from lender to lender. Information about the range of commissions available to us from the mortgage products we recommend is available on request.
If you apply for a mortgage that does not go ahead, you will receive no refund.
You will receive a personalised illustration when considering a particular mortgage. This will highlight the key facts about the mortgage product, including any fees relating to it and the amount of any commission due to us from the mortgage lender.
Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.
To discuss your mortgage requirements in more depth please contact Roxburgh Financial Management by phone on 0345 434 9505, or email email@example.com or use the contact me option by clicking here
Six reasons to use us
We put our client’s needs above all else
- We are 100% independent
- We understand how important these decisions are for you
- We will communicate with you in plain English with no jargon
- Our advice is tailored to your demands and needs
- Our advice will leave you in an informed position to make the right choices