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Helping you to understand:
Whether you want to expand your property portfolio, secure funding for a commercial project, or explore options like HMO mortgages, secured loans, or bridging finance, we have the expertise to support you.
You have two options; a repayment mortgage or an interest only mortgage.
With a repayment mortgage you repay both the capital and the interest together in fixed instalments over an agreed period of time. Provided you keep up your repayments, your entire mortgage will be repaid at the end of the term.
With an interest-only mortgage, you pay the interest due but none of the amount you have borrowed. While your repayments will be less than an equivalent-sized repayment mortgage, at the end of the term you still owe the original amount that you borrowed. The remaining capital will be repaid under the conditions outlined by the mortgage lender. You should be aware that very few lenders now offer interest-only mortgages.
You will need to make a decision on which type of interest rate is going to work best for you. Mortgage interest rates fall into two main categories; fixed-rate and variable rate, although there are a number of variations within each of these categories.
A fixed rate mortgage is set for a particular period of time and the interest you are charged will stay the same throughout the deal.
With a variable rate mortgage, your interest rate can change at any time. This means your payments could rise or fall as interest rates fluctuate.
New build properties can be attractive for many reasons; however, it is important to remember that when it comes to applying for a mortgage, lenders apply different loan criteria than they do when lending against established properties.
House builders sometimes have special incentives and these can look like great deals – but you must use a lender who will accept them.
Fairstone specialises in mortgages for new build properties. We have long-term relationships with many of the UK’s largest house builders and the expertise to help you navigate their incentives and offers.
Our team of experienced mortgage advisers understand that only certain lenders will accept mortgage applications for new build properties and will ensure that you only apply to appropriate lenders, saving you time and helping you to secure your new home.
In order to assess your requirements and provide you with indicative mortgage costs, our adviser will need the following:
A mortgage is the biggest financial commitment most of us make in our lifetimes and it is vital that you are protected should the unexpected happen.
Fairstone’s specialist protection advisers can help you choose a comprehensive protection package that’s right for you and your family.
We can help you ensure that, should the worst happen, your home and possessions are protected and you can still meet your mortgage payments.
This could include:
We have over 1200 local advisers and staff specialising in investment advice all the way through to retirement planning.
Provide some basic details through our quick and easy to use online tool, and we’ll provide you with the perfect match.
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