Residential Mortgages
Individual & Family based Mortgages for you to live in
"Buying my own home has enabled me to get on the property ladder and was cheaper than renting"
Buying Your Own Home
A Residential Mortgage is a loan designed to help individuals or families purchase a home or residential property. It is secured against the property itself and is typically repaid over a long period (25-40 years) with monthly payments that cover both principal and interest. The interest rates can be fixed or variable, and the loan amount is typically based on the property’s value and the borrower’s income. Residential mortgages are the primary way most people finance the purchase of a home, making homeownership possible without having to pay the entire property cost upfront.
Looking for a better deal
A residential remortgage is the process of replacing an existing mortgage on a property with a new mortgage, either with the same lender or a different one. Homeowners typically remortgage in order to:
- Secure a better Interest Rate
- Reduce Monthly Payments
- Release Equity (by borrowing more than the existing mortgage balance)
- Switching to a different type of mortgage (e.g., from a variable rate to a fixed rate). The new loan pays off the original mortgage, and the homeowner continues to make monthly repayments on the new mortgage terms. Remortgaging is often done when the initial mortgage deal ends or when market conditions change.
Product Switches
Product Switches involve switching your current deal with your existing lender onto a new fixed rate or variable rate deal with the same lender.
Minimal information is required and there is no need for solicitors or valuers.
We can switch your Mortgages for you and advise you as to which is the best overall deal for you whilst also letting you know what other lenders would be able to offer you.