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Mortgages for repaymentWith this kind of mortgage, you pay back part of the amount lent together with the interest calculated each and every months. Most of your mortgage repayments in the previous years will consist of interest. On the other hand, towards the last part of your mortgage period, the opposite will happen and the major part of your total amount will be deducted from the loaned amount.
Interest Only MortgageWith this kind, you only pay interest each and every months. That means that although your payment will be lower, the amount you are borrowing is still pending at the end of the period. Mortgage exclusivityWe have direct acces to exclusives, some of which are only available to our clients.
You will be able to find out from our experienced mortgage advisors what the latest exclusives are and whether they will suit your individuality. A buy-to-let part of the mortgage's object, the key distinction to a buy-to-lease mortgage is that the mortgage provider uses the rental you get for the flat to gauge affordableness.
Default Variable Interest Rates (SVR) With this kind of interest you should see your payment increase and decrease in accordance with the changes in your Bank of England interest balance, but not necessarily at the same amount or at the same amount. Fix pricesFixed prices give you the assurance that your montly payment is always the same.
Using this kind of mortgage, you are paying a static interest for a certain amount of money, usually over two, three or five years. Trackers Floating Interest RatesTrackers are usually tied to the bank interest level of the British Government, which means that they will vary accordingly. By capping a mortgage installment, you know the max you are going to be paying for a certain amount of will.
Such a mortgage gives you the opportunity to know the amount of money you would have to repay each month for a certain typical two or three year term. Mortgage flexibilityYou can change the amount you are paying each and every months and take time off under certain conditions. This can help you cut your mortgage with lump-sum benefits without having to incur a prepayment penalty.