At Warren & Co we will pass your enquiry to a qualified adviser who will provide you with specialist advice on one or more of the following facilities available to you. All of our mortgage advice is free of charge.
Recent years have seen low interest rates which have made buy to let mortgages much more attractive, especially when compared to other types of investments. Warren & Co have access to a vast array of Buy To Let Mortgage Lenders to make sure you have access to the best deals on the market.
Guarantor mortgages are still available in the current market place with approximately 40% of lenders offering this type of facility
Sticking with your current lender after your initial deal comes to an end may seem attractive if their SVR (Standard Variable Rate) is reasonable, but if you’re willing to take a little time to look for a better rate, remortgaging could save you a significant amount.
If you are a UK homeowner aged 55 or over, Warren & Co may be able to help you access money tied up in your home.
Having a low income and small deposit continues to be the main barrier stopping people from buying their first home. The government has various affordable housing schemes aim to make home ownership more affordable for people without substantial savings
Buying your first home can be a daunting experience, and so Warren & Co aim to help make your house buying process as smooth as possible.
Fixed Rate
A fixed rate mortgage has an interest rate that is fixed for an initial period, for example 2, 3 or 5 years. This means your monthly mortgage payment will remain the same during this period, which allows you to budget your monthly expenditure. At the end of the fixed rate period, the mortgage usually transfers to the lender’s standard variable rate (SVR), however we will contact you before this happens to find you a new fixed rate.
Tracker
A tracker mortgage usually tracks the bank Bank of England base rate, and as a result, your mortgage payments will change when the base rate changes. The benefit of this type of rate is that they usually do not have tie in periods or exit charges, and so offer the flexibility to make overpayments or repay the mortgage early without incurring any penalty charges.
Interest Only
An interest only mortgage means your monthly payments only pay the interest on the mortgage, not the actual loan itself. This allows you to secure the property you want and then clear the loan’s capital later on when your financial position permits it. However, this is easier said than done as most residential lenders have strict rules and criteria as to who they will allow an interest only mortgage to.
Offset
If you have a large amount of savings, instead of a standard savings account, you could place them in an offset account linked to your mortgage. This means you won’t pay interest on the mortgage debt equivalent to the amount of savings. The interest you are likely to be charged on your mortgage will usually be higher than the interest you will earn on your savings, so offsetting can make your savings work harder.
Bridging Loans
Bridging loans are designed to help people complete on the purchase of a new property before their current property has been sold. As they are only designed as a short term loan, the interest rate can be very high. Advice should always be sought as there can often be hidden costs and administration fees.
If you’d like to arrange a no-obligation meeting to discuss how we can help you please get in touch today, either by calling us on 01452 547783 or using our contact form.
