A mortgage is often the biggest financial commitment you will make in your lifetime. Yet with hundreds of providers and numerous different types on the market, taking out a mortgage can become incredibly complicated.
Once we understand your circumstances, Skybound will search hundreds of options to find the most suitable mortgage for you and your individual requirements. Whether you are a first-time buyer, moving home or looking for a potential re-mortgage, we will provide you with the information on the best mortgages that are available to you.
An arrangement where part of the monthly mortgage repayment is used to pay the interest and the remainder is used to reduce the original amount of the loan borrowed. In the early years of the mortgage, most of the monthly repayment goes towards paying the interest; in later years, the interest charges diminish and more of the repayment is available to reduce the loan amount.
Remortgaging is the process of switching your existing mortgage to another mortgage lender, usually to lower the amount you're paying on your mortgage. You are not obliged to remain with your original lender for the full mortgage term, and often you can move to another lender to get a lower interest rate - you don't have to be buying a new home. It is important however to note that you could be subject to early repayment charges by the existing lender.
* YOU MAY HAVE TO PAY AN EARLY REPAYMENT CHARGE TO YOUR EXISTING LENDER IF YOU REMORTGAGE.
A Buy to Let mortgage (BTL) is primarily used when looking to purchase a property with the purpose of renting it out for investment purposes. A BTL mortgage is assessed differently by the lenders to that of a standard residential mortgage, larger deposits are required, with the focus of the lender generally being on the rental value of the property. This being said, the applicants income levels and tax rate band will also be considered by most lenders. The Buy to Let market is increasingly complex with regulatory changes and different lending criteria between providers.
Energy efficient properties can qualify for green mortgages; this is a discount applied to the interest on a mortgage reflecting the EPC rating on the property. Any type of mortgage can qualify to be a green mortgage and it can also be applied when remortgaging.
Use the contact form to reach out to our team and find out more.
Our team of mortgage advisers have access to the whole mortgage market and a wealth of knowledge that combined means they are perfectly placed to assist you with your mortgage enquiry today.
In short, yes, they are. However, mortgage advisers are well placed to ensure you find the best mortgage for your circumstances, in many cases they will save you money off your mortgages. Short term they are more expensive but over the long term you could save a lot more. Our mortgage advisers are dual qualified to financial advice across all your investments not just your mortgage requirements.
A Let to buy mortgage is where you rent out your existing home and then buy a new home to live in, so it's effectively 2 mortgages. A buy to let mortgage on your current property you want to rent out and a residential mortgage on the new property you want to move to. These can work really well if you are struggling to sell your existing home due to market conditions or if you need to move homes quickly.
A buy to let mortgage is where you would rent out a property, rather than live in it for investment purposes. They are not harder to get than residential mortgages however they are more expensive to finance. You are required to have a much larger deposit usually between 25-40%, it would likely pay higher interest rates then that of a residential property. A buy to let property can be a great tool to replace income if you are looking at an interest only mortgage which is commonly used in BTL. You only repay the interest of the mortgage, which is a smaller monthly amount this means you could keep more of the rent for income purposes rather than this going towards paying off a capital repayment & interest mortgage. At the end of the term, you could sell the property to pay off the outstanding debt or switch it to make capital repayments.
Subject to meeting criteria checks, Skybound Wealth Management UK can help you secure a buy to let mortgage or a residential mortgage. You are assessed the same as a UK based borrower but you would pay higher rates and currency fluctuation will need to be taken into consideration when lenders assess affordability.
You can reach us directly by calling us between the hours of 8:30am and 5pm at each of our respective offices and we will immediately assist you.
The value of your investment can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance. Investing in shares should be regarded as a long-term investment and should fit in with your overall attitude to risk and financial circumstances.
The guidance and/or advice contained within this website are subject to the UK regulatory regime, and are therefore targeted at consumers based in the UK. Skybound Wealth Management Ltd is authorised and regulated by the Financial Conduct Authority. Registered Office - MBP3, Meadowhall Business Park, Carbrook Hall Road, Sheffield, S9 2EQ. Registered Number 04479650, England. Financial Conduct Authority Number 217994.
The information contained within this site is subject to the UK regulatory regime and is therefore targeted primarily at consumers based in the UK. The Financial Ombudsman Service (FOS) is an agency for arbitrating on unresolved complaints between regulated firms and their clients. Full details of the FOS can be found on its website at www.financial-ombudsman.org.uk. Neither Skybound Wealth Management Ltd nor its representatives can be held responsible for the accuracy of the contents/information contained within the linked site(s) accessible from this page.
